Trending
- 2026 is turning out as a defining year in geopolitics, but for whom?
- Bitcoin Surges 20%: How Crypto Holders Are Exploring Cloud Mining Income in 2026
- Saudi Arabia and Tanzania pledge to deepen bilateral trade ties
- Tanzania rewrites its digital investment playbook
- Ethical sourcing boosting demand for Tanzania organic cotton
- DRC deploys 70,000 Ebola vaccine doses in high-stakes trial against deadly Bundibugyo strain
- Kenya’s private sector optimistic on growth despite inflation and geopolitical risks
- AfDB and Standard Bank ink $332 million social bond deal to fund South African SMEs
Banking
Equity Group’s Pan-African expansion helps drive the lender lion’s share of assets and half of banking profits, as non-funded income reaches record levels in…
Absa Bank Kenya’s earnings decline mark the first half-year profit…
WSA Banking Index ETF approved to list on the Nairobi…
However, integrating cryptocurrencies with conventional financial systems becomes increasingly essential as they become more commonplace. This presents several obstacles to overcome before cryptocurrencies can realise their full potential. For instance, traditional institutions may be hesitant to work with cryptocurrencies due to concerns about money laundering and other illicit activities. Moreover, the technical difficulty of integrating cryptocurrencies with existing banking systems can prove intimidating.
Afrexim’s subsidiary, AFREXInsure, will manage trade and commerce-related risks in Africa. AFREXInsure will leverage its…
Faulu Bank, a microfinance firm in Kenya, unveils a digital platform for real time cash…
FBC Holdings Limited (FBCH) has finalized an agreement with Standard Chartered Bank to acquire its business in Zimbabwe. However, this transaction remains subject to regulatory approvals, including that of the Reserve Bank of Zimbabwe (RBZ), and marks a strategic move for both entities.
Standard Chartered Bank had previously decided to divest from several markets. These include Lebanon, Angola, Cameroon, Gambia, Sierra Leone, Zimbabwe, and Jordan. Additionally, the bank has planned to exit the Consumer Private and Business Banking (CPBB) business in Côte d’Ivoire and Tanzania. Standard Chartered Bank’s business sale in Jordan came to light earlier in March this year, aligning with the bank’s strategic realignment efforts.
On 15 May, President William Ruto nominated Kamau Thugge as the new governor of the Central Bank of Kenya (CBK). If the Senate and the National Assembly ratify the appointment, Thugge will begin his first term as the CBK governor in mid-June. He will replace the incumbent Patrick Njoroge who assumed office as CBK governor in 2015.
The nomination of Thugge comes at a pivotal time for the Kenyan economy. Kenya’s inflation remains high at almost 8 per cent. The Kenyan shilling has also hit all-time lows against the US dollar. Thus, the monetary policies from the CBK will most likely come in handy in the coming months. But what makes Thugge the perfect fit for the crucial role of Kenya’s top banker?
Financing will create more jobs, and reduce national expenditure on the importation of milk and…
