The Governor of the Central Bank of Kenya, Dr. Patrick Njoroge, has been recognised as the Central Banker of the Year, Africa by the prestigious The Banker Magazine, a publication of the Financial Times group. The Banker’s Central Banker of the Year 2018 awards celebrate the officials that have best managed to stimulate growth and
Barclays Africa Group Limited (BAGL) has signed a 2-year agreement to provide financial support to the Frontclear Technical Assistance Programme (FTAP) through the latter’s Partnership Facility. The contribution reflects the bank’s commitment to building inclusive, stable and liquid interbank market development through providing training, regulatory support and essential market infrastructure. The programme will be rolled-out
Mastercard has unveiled Kionect, a digital ordering system that empowers small kiosk owners in Nairobi to order and pay for products from wholesalers via SMS. Orders submitted via a feature phone helps create a digital record for kiosk owners to get access to micro-loans to stock inventory and grow their business. Kionect is currently being
When we talk about payments technology in Kenya, we usually start with the mobile device. There is no doubt that mobile is a successful tool for offering access to financial services and a viable alternative to making payments with cash, however, mobile isn’t a silver bullet. Whilst the increase in mobile transactions is compelling, cash
PayPal has announced the launch of its Seller Protection Programme in some Sub-Saharan Africa countries, in an effort to empower local businesses to trade online, both locally and globally with confidence and peace of mind. PayPal’s Seller Protection Programme is designed to help protect merchants from buyer’s claims, chargeback, and reversals, so that they are
Central Bank of Kenya and Kenya Deposit Insurance Corporation have announced that they have received a non binding offer from SBM Holdings Limited with respect to Chase Bank (Kenya) Limited, as part of the EOI process announced on March 30, 2017. The non-binding offer includes the acquisition of certain assets and matched liabilities from CBLR. Whilst
Uber and Visa have announced a strategic agreement that aims to grow digital commerce across Africa, with the first launch in Nigeria last month the new promotion will now be available in Kenya. Under the agreement, Visa will work with its financial institution partners to set up their debit and credit portfolios for eCommerce. This
Uber and Visa have announced a strategic agreement that aims to grow digital commerce across Africa, with the first launch in Nigeria last month the new promotion will now be available in Kenya. Under the agreement, Visa will work with its financial institution partners to set up their debit and credit portfolios for eCommerce. This
The Central Bank of Kenya (CBK) announces the granting of authority to Société Générale (SG) of France to open a Representative Office in Kenya. The authority was granted pursuant to Section 43 of the Banking Act following fulfillment of the stipulated authorisation requirements. Representative Offices of foreign banks serve as marketing and liaison offices for
Data from SWIFT shows that FIN traffic growth in East Africa has outperformed the total growth of SWIFT globally. In the year to date, total message traffic volumes grew by 20.1% versus 8.2% growth for SWIFT worldwide. This clearly illustrates the increasingly important role that East Africa plays in SWIFT’s global business. Data also shows
