- The escalating tension between Binance and Nigeria
- Kenya’s NCBA Group reports 56 per cent jump in net profit to $162.3 million
- UNEP report sounds the alarm on Africa’s growing food waste crisis
- I&M Bank’s profits rise by 15 percent as the lender intensifies regional expansion
- Telco giant MTN reshaping presence in Africa with key exits
- German firm Karcher opens new $3 million distribution center in Kenya
- Equity Group to pay record $114 million in dividend despite 5 per cent profit dip
- Under President Samia Suluhu Hassan, a new economic dawn emerges in Tanzania
Browsing: African Development Bank (AfDB)
Kenya’s Equity Bank has been named as the most ‘Socially Responsible Bank in Africa’ at the most prestigious Africa’s banking and financial sector event – The African Banker Awards 2019.
This affirms Equity’s social and environmental leadership on the continent.
The award recognises Equity’s initiatives steered through the Equity Group Foundation (EGF) programmes that are positively impacting communities.
READ ALSO:Renewable energy attracts IFC loan for Equity Bank
The programmes are across five thematic areas that include education and leadership development, entrepreneurship and financial education, health, agriculture and agribusiness, and energy and environment.
The efforts they are geared towards, go beyond the philanthropic use of funds to use of overall knowledge, resources and reputation to improve livelihoods.
Through EGF, the bank has had successful initiatives, key among them being the improvement of secondary school education access for 16,168 students under the Wings to Fly program; Financial Literacy training that …
There have also been gloomier syndicated loans and bilateral debts, many to China, which has over USD60 billion on offer and tied to big construction projects.…
Of the estimated up to 45,000 MW potential, 30,000 MW is estimated to be economically feasible which is equivalent to an electricity generation of 162 TWh.…
Equity Bank emerged as the overall best bank in Kenya for the eighth time at this year’s Think Business Banking Awards, with Equity Group Managing Director and CEO James Mwangi scooping the CEO of the Year Award for the third time consecutively.
READ:Why Equity Bank CEO James Mwangi was named Banker of the year, again
Equity Bank bagged 18 awards, garnering the top slots in 12 categories – Best Bank in Tier 1, Best Bank with the lowest charges for individuals, the most customer-centric bank, best bank in mobile banking, best in internet banking, best agency banking, best in product marketing and the best bank in SME banking.
Others are best bank in agriculture and livestock financing, best commercial bank in micro finance, best in CSR, and best lender in digital banking.
The awards validate Equity Bank’s strategy and pursuit of financial inclusion while giving customers freedom, choice and …
Kenya has unveiled a mortgage refining facility-Kenya Mortgage Refinance Company (KMRC), a short in the arm in President Uhuru Kenyatta’s affordable housing scheme under the Big Four Agenda.
KMRC is a non- deposit taking financial institution under the supervision of the Central Bank of Kenya (CBK).
The company was incorporated on April 19, 2018 with the single purpose of providing long-term funds to primary mortgage lenders (banks, micro finance banks and saccos) in order to increase the availability and affordability of mortgage loans to Kenyans.
READ:Mortgages more unaffordable as Kenya house prices increase in 2018
KMRC shareholders and funding
The company was established as a private public investment with majority ownership by the private sector at 80 per cent and government 20 per cent. Its current shareholders comprise: the national treasury and planning; eight (8) commercial banks; eleven (11) deposit taking Savings and Credit Co-operatives (Saccos) and one (1) …
Equity Bank says branches are making it easy for SMEs to access products that are right for them
Equity Bank continues to enhance its Small and Medium-sized Enterprises (SME) offering through its supreme banking branches, as the bank embraces new technology and ways of working to meet the retail customer needs.
Thanks to the growing adoption of digital banking which has seen banks shift from brick and mortar expansion (branches), the space at banking halls has enabled SMEs to largely access supreme banking which has been targeting high net worth individuals.
Currently, 96 per cent of transactions at Equity are being done on digital platforms, the Nairobi Securities Exchange (NSE) listed lender has reported.
READ:Banks in Kenya battling for digital lending space
“This has allowed the bank to transform the branches into advice-giving arms. This branch based venture offers preferential services customized banking solutions with exclusive privileges and unrivalled …
South African Weather Service says that Cyclone Kenneth could bring intense rains to Mozambique until late Monday evening which could increase the risk of flooding.…
Despite the immense potential for regional value chain development, West African exports more than 70 per cent of goods to Europe and North America.…
Central Africa remains one of the continent’s least integrated regions due mostly to an infrastructural deficit and several other barriers…
The government expects private sector to contribute 60% of the development
International property developers are angling themselves to tap into the housing projects in Kenya’s Big Four Agenda, a boost to President Uhuru Kenyatta’s ambition to deliver 500,000 units by 2022.
This came out at the sixth East Africa Property Investment Summit (EAPI) held in Nairobi this week, where the government called on the private sector to support the projects, assuring them of offtake.
An offtake assurance or agreement is a commitment between a producer and a buyer to purchase or sell portions of the producer’s future production.
“We want to assure the developers that whatever they build, we will buy,” Charles Hinga, Kenya’s Principal Secretary -State Department of Housing and Urban Development.
He spoke during the event which saw Nairobi host some of the largest international and regional developers and financial investors such as USA’s Echostone housing, South Africa’s …