Money Market Funds (MMFs) have become incredibly popular investment options in Kenya. They’re attractive because they invest in safe and highly liquid assets like cash equivalents, government securities, and high-quality debt instruments, offering better returns than traditional savings accounts. Let’s dive into what you need to know about MMFs. Understanding Money Market Funds Imagine a…
The world’s largest asset management firm, BlackRock, has made a significant investment in the Nairobi Securities Exchange (NSE) after a four-year hiatus, marking a win for the Kenyan bourse as it emerges from its toughest year yet. Kamau Thugge, the Central Bank of Kenya (CBK) governor, shared in a recent meeting with bankers that he…
Moove, a mobility fintech company founded in 2020 by Ladi Delano and Jide Odunsi, has recently secured a significant investment of $100 million in its Series B funding round. This investment is led by Uber and includes participation from other notable financiers. About Moove Since its inception, Moove has expanded its operations into nine markets,…
During Safaricom Investment Co-operative’s 15th Annual General Meeting, shareholders approved a rebate payout of KSh 142.4 million. This rebate announcement came after Safaricom Investment Co-operative Society realized a net profit of KSh 203.4 million for the fiscal year ending December 31, 2023. In comparison, the society had reported net profits of KSh 266 million in…
KCB Bank: Unlocking Your Homeownership Dreams Discover the possibilities with KCB Bank, where homeownership becomes a reality. Borrow up to KES 100 million with competitive terms, offering 90% financing for owner-occupied properties, 80% for income-generating ones, and 70% for plot purchases. Enjoy a favorable interest rate of 13.3%, making KCB a prime choice for your…
The African Development Bank (AfDB) endorses Energy Cabinet Secretary Davis Chirchir’s plea to the parliament, urging the lifting of a moratorium preventing Kenya Power from entering into new agreements with independent power producers (IPPs). AfDB emphasizes the critical need for Kenya Power to swiftly engage new independent power producers (IPPs) to counteract the decline in…
In the fiscal year ending in June 2023, NCBA Bank Kenya significantly bolstered Grit Real Estate’s financial capabilities by extending an additional $6.8 million (KES 1.0 billion) in credit to the esteemed Mauritian real estate firm. Rising Dollar-Denominated Credit Facilities Underlining its commitment to fostering financial growth, NCBA Bank Kenya has raised the bar, as…
The recent acquisition of 51 percent of the shareholding of SMEP Microfinance Bank PLC (SMEP MFB) by HOPE Advancement Inc. (HOPE) has sparked considerable interest and discussion within the financial sector. The Central Bank of Kenya (CBK) has officially confirmed this development, signifying a pivotal shift in the landscape of microfinance in the region. Let’s…
