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The biggest bank by market capitalisation, Kenya Commercial Bank Group, has finished acquiring National Bank of Kenya (NBK).

The approval was granted on 26 September during a meeting at the Bank’s headquarters in Abidjan.

Despite a gazette notice by the Central Bank of Kenya (CBK) announcing last May that all citizens should return all Kshs 1,000 notes by September 30th, 7,386,000 of these have not yet been returned. “This is equivalent to Kshs 7,386,000,000, the amount that was lost during the Goldenberg era,” says the regulator. Gazette Notice 4849 had sought to replace the Kshs 1,000 by October 31, 2019 with the New Generation banknotes. CBK states that there were 209,661,000 pieces of Kshs 1,000 notes returned by September 30th…

The Monetary Policy Meeting of the Central Bank of Kenya (CBK) has sought to retain the CBR rate at nine percent, a move that signals that fear lingers about the High Court ruling that was made regarding the declaration of the unconstitutionality of the interest rate law last March. The interest law, pegged on the 2019 Finance Bill, had sought to propose that commercial banks charge a consistent interest rate on loans given to the Small and Medium Enterprises (SME’s).  The law was declared unconstitutional because it…

At its formation, the President tasked the Technical Committee chaired by Principal Secretary for Infrastructure Prof Paul Maringa and comprising of Quantity Surveyor Julius Matu, Eng Benjamin Mwangi and Eng John Muiruri to assess the viability of the two dam projects and report to the Head of State within 30 days.