Stanbic Bank Kenya has made a bold move by entering the asset management sector with the launch of its Money Market Fund. This strategic initiative is expected to redefine the financial landscape in Kenya, offering both retail and institutional investors a chance to access low-risk, high-liquidity investment opportunities. By tapping into this sector, Stanbic is…
Kenya’s microfinance banks (MFBs) are grappling with substantial financial setbacks, recording a loss of KSh 2.4 billion before tax by December 2023, a sharp increase from KSh 980 million in the previous year. This rise in losses signals serious difficulties in the sector, influenced by several critical factors. Key Factors Behind the Losses Major Contributors…
The Mobile Revolution Kenya, with over 32 million smartphones in use, is undergoing a financial transformation. Mobile money platforms like M-Pesa have revolutionized transactions, allowing many Kenyans to save, send, and receive payments without traditional banking. This change has been pivotal for 44% of the population previously excluded from formal banking services. Now, a new…
