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…

KRA officially takes over revenue collection in Nairobi

The Kenya Revenue Authority has officially taken over revenue collection in Nairobi County as part of the deed signed on transfer of functions to the national government. The takeover which was led by Treasury Cabinet Secretary Ukur Yattani   happened between the County Executive Member for Economic Planning Allan Igambi and KRA’s Commisoner General James Mburu. The deed signed between Governor Mike Sonko and Devolution Cabinet Secretary Eugene Wamalwa allowed the authority to be the principal agent for the overall revenue collection in the county. The handover happened shorlt after the…

Opinion: connectivity a bedrock for riding the fourth industrial revolution wave

By Adil Youssefi, CEO, Liquid Telecom, East Africa Region   While much is made of the potential of new technologies like cloud, IoT, AI and Blockchain, their success depends entirely upon ubiquitous connectivity.   There can be little doubt that the much-touted Fourth Industrial Revolution (4IR) is underway, to the extent that this latest evolution could be described being less about the technology itself than how to use it to enable advancement.   The 4IR could be seen as being about the ‘rise of connectivity’, which will unlock new avenues for…

GAUGING THE ECONOMIC WAVES OF CORONAVIRUS ON KENYA

The Kenya Private Sector Alliance (KEPSA), the apex body of the private sector in Kenya, this morning resolved to engage all its members to begin to calculate the projected economic impact of Coronavirus in each sector. The collated input will inform the development of a rapid response mitigation plan to minimize the impact of the outbreak on the Kenyan market. It will also allow the private sector to measure the impact of the expected global slowdown of trade on Kenya. KEPSA is encouraged by Executive Order No 2 ofhttps://www.expresstoday.co.ke/?p=2932&preview=true 2020…

Family Bank clienteles to befit from 100% vehicle cash deal

Family Bank has entered into a partnership with Simba Corporation Limited in a deal that will see customers receive up to 100% financing to purchase vehicles. This partnership will enable Small and Medium-Sized customers in the agribusiness, trade and logistics businesses to conveniently purchase Fuso trucks, Mitsubishi and Mahindra products at competitive interest rates. Business owners in the agribusiness sector and the education and religious institutions will be able to access 100% financing with a five-year repayment period while other business enterprises access 95% financing repayable in a period of…

women entrepreneurs in Kenya to benefit from KES10 billion kitty

Absa Bank Kenya PLC has today announced a KES10 billion fund to advance credit to women-owned small and medium enterprises over the next five years as part of the new customer value propositions under the Absa brand. The women fund is part of the bank’s commitment towards advancing diversity and inclusion by empowering women with financial resources and capacity building to grow their businesses. The money will be availed to women entrepreneurs through the existing banking products including unsecured and secured loans, trade finance, asset finance, property finance and working…