Central Bank of Kenya (CBK) prepares to unveil a new loan pricing model in April 2025. This highly anticipated move comes amid growing concerns about high borrowing costs and lack of transparency in how banks determine interest rates. But what exactly will this new model entail, and how will it affect millions of Kenyan borrowers?…
In today’s digital age, cyberattacks have become a persistent threat for businesses of all sizes. A single breach can not only tarnish a company’s reputation but also lead to severe financial losses and operational disruptions. While it might seem like something that only happens to large corporations, small and medium-sized enterprises (SMEs) are increasingly falling…
Recently, Bolt Kenya made headlines by awarding ten drivers Kshs 288,000 each as part of their €20,000 accelerator program. The initiative rewarded top-performing drivers who consistently provided excellent service, embodying Bolt’s commitment to improving livelihoods and enhancing the customer experience. This program, aimed at empowering hardworking individuals in Kenya’s growing gig economy, highlights a broader…
The Central Bank of Kenya (CBK) has taken another significant step in regulating the burgeoning digital credit sector. On June 27, 2024, CBK announced the licensing of seven more digital credit providers (DCPs), pushing the total number to 58. This move underscores CBK’s commitment to creating a well-regulated environment that fosters innovation while protecting consumers….
The Central Bank of Kenya (CBK) decided not to raise loan costs, keeping them steady after the Monetary Policy Committee (MPC) meeting on Wednesday3rd April 2024. This move aims to help borrowers manage their finances better. CBK mentioned that their current approach to monetary policy has helped control inflation caused by excess money circulation. However,…
Here are top 10 personal loans offered by Kenyan banks with the lowest interest rates. Personal loans can be a real lifesaver when unexpected expenses pop up or when you need quick cash for various purposes like organizing events or urgent trips. It’s crucial to find the best rates to avoid hefty interest charges, so…
Let’s look into the financial prowess of Equity Bank Kenya, a heavyweight in the East African financial scene. A financial powerhouse serving both individuals and businesses, with a whopping 80 percent of transactions zipping through their advanced mobile banking tech. But what sets them apart? Well, it’s the game-changing support they’re throwing behind local businesses,…
Embarking on the journey of entrepreneurship in Kenya requires more than just a groundbreaking idea; it demands financial backing to turn dreams into reality. Many aspiring business owners find themselves grappling with the challenge of securing the necessary funds, leading to setbacks in bringing their ventures to fruition. Cash flow mismanagement remains a significant pitfall…
