We plan to take M-Pesa to a new level, says Safaricom CEO Peter Ndegwa.

Credits CNN In an interview with CNN’s Richard Quest, the CEO of Safaricom PLC, Peter Ndegwa, outlined how he expects M-Pesa to develop in the wake of the coronavirus pandemic. Ndegwa also states that the company is rolling out products targeted at helping small and medium-sized enterprises (SMEs) that have been worst affected by the coronavirus, saying that: “Covid-19 crisis is much more about socio-economic crisis”. Here we take a look at the key issues said by the CEO of Safaricom Peter Ndegwa. Peter Ndegwa on the future of M-Pesa: “We want…

I&M HOLDINGS RANKED AS MOST ATTRACTIVE LISTED BANK

Cytonn Investments has today released its H1’2020 Banking Sector Report, which ranks I&M Holdings as the most attractive bank in Kenya, supported by a strong franchise value and intrinsic value score. The franchise score measures the broad and comprehensive business strength of a bank across 13 different metrics, while the intrinsic score measures the investment return potential. The report, themed “Depressed Earnings and Deteriorating Asset Quality amid the COVID-19 Operating Environment,” analysed the H1’2020 results of the listed banks. “Asset quality for listed banks deteriorated in H1’2020 with the Gross…

FAMILY BANK PARTNERS WITH PERFOMETER TO FINANCE FODDER PRODUCTION FOR DAIRY FARMERS

Family Bank sets aside KES. 1 billion to target 100,000 dairy farmers to boost milk yield and improve their living standards. Family Bank has entered into a partnership with Performeter Agribusiness Limited in a deal that will see 100,000 farmers in dairy cooperatives access credit to finance fodder production, a critical barrier to the competitiveness of Kenya’s dairy sector. Dairy farming remains a priority income-generating enterprise in more than 15 of 47 the counties in Kenya due to its potential to transform the economic well-being of the households involved in…

Family Bank records 19.7 per cent assets growth

Family Bank has posted a 63.6 per cent increase in its profit before tax for the Group through the first six months of the year to Sh 852.1 million, up from Sh 520.9 million registered in a similar period of 2019. The growth is attributed to increase in net interest income hugely from loans and advances and income from government securities. The total operating income grew by 17.6 per cent to Sh 4.2 billion during this period compared to Sh 3.6 billion last year. Non-funded income slightly decreased by 1.4…

Ecobank Academy becomes the first corporate member of the Global Business School Network

Operating in all regions in sub-Saharan Africa, the Ecobank Academy is one of the largest corporate universities in Africa. Marking a seminal moment in the history of the organization, the Global Business School Network (GBSN) is excited to welcome Togo-based Ecobank Academy  as its first corporate member. GBSN has been building management education capacity in and for the developing world for over 17 years. The core of the network spans 6 continents with more than 100 leading business schools from 50 countries, whose leaders, faculty, and students engage in programs…

KCB Customers to Access Cash Simba Points

KCB Bank Customers will now be able to redeem cash for their Simba Points after the bank honored customers’ requests to redeem their points for cash. The cash redemption became popular after the spread of the pandemic with redemption of cash increasing exponentially. Over 8.1million Simba Points have been redeemed for cash which was used to purchase food and household items. The redemptions between March and May were seven times those in January and February, reflecting the increased demand as Kenyans sought relief from the effects of the Covid-19 pandemic.…

DIB BANK KENYA DONATES FOOD TO VULNERABLE FAMILIES 

Ramadhan is well known all over the world as a season of prayer and fasting for our Muslim brothers and sisters. It is also a time when Muslims reflect on their lives and purposely focus on positivity.  Ramadhan is also a season of cheer. People come together and break the fast as they share meals. Ramadhan was however different this year. The world is facing a pandemic; one that has brought socio-economics challenges to the world and has rendered many jobless. A pandemic that has robbed the Muslim community the cheer in…

Absa Appoints Charles Njenga Murito as Its Independent Non-Executive Director

ABSA Bank Kenya has appointed Charles Njenga Murito as its independent non-executive director. ABSA board chairperson Charles Munene announced in a statement that Murito will be taking up his new duties immediately. “I am pleased to announce the appointment of Charles Njenga Murito as Independent Non- Executive director in Absa Bank Kenya Plc with effect from 24 June 2020,” said Munene. Murito is currently the government affairs and public policy director for Sub- Sahara Africa at Google, a job that he started in February this year. He holds an MBA…

CBK extends its COVID-19 Emergency Measures on Mobile Money Transactions

Central Bank of Kenya has extended the time frame of the mobile money transactions emergency measures it effected in March this year to December 31, to combat the spread of the coronavirus. In a statement, CBK says the measures, which include the elimination of charges on transactions of up to Sh1, 000, have been effective and will remain in force. CBK said it had noted that the measures were timely and highly effective in facilitating official and personal transfers at a time of great need. At the same time, the…

Tala Launches Ksh 605 Million Rebuild Fund to help Kenyans cope with COVID-19 crisis

Tala today announced the launch of the Ksh 605Million COVID-19 Rebuild Fund to bolster Kenyan businesses and communities. The Fund, which Tala plans to grow through additional funding and partnerships, will prioritize existing Tala customers as well as Tala businesses that provide essential services to their communities. Eligible customers will be invited to apply for the Fund’s first new product, a 0% fee, 6-month Community Support Loan of Ksh. 30,000, designed to support businesses that are helping Kenyans recover and rebuild. “We believe small businesses are the backbone of the…