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Browsing: Financial sector in Kenya
Insurance uptake in any sector is always influenced by the insuring public’s awareness about insurance. Other factors are secondary to the fact.
A recent high profile insurance round table session discussed insurance penetration based on secondary factors like introduction of affordable products in the market, introduction of bancassurance into the market, agricultural insurance and micro-insurance. Other factors discussed included unhealthy competition in the market which leads to predatory pricing. Public awareness on insurance was touched on based on the need to create a risk management culture among the public and more so to educate the public on the benefits of insurance uptake. This round table however did not expound on how this can be achieved.
Insurance penetration and its growth in the initial stages was mainly through insurance intermediaries comprising of agents and brokers and this drove insurance growth steadily upwards until the two started being …
Credit Bank, a middle tier bank in Kenya is eagerly awaiting the Central Bank of Kenya approval to initiate a Ksh 1 Billion transaction signed last month.
The bank has made an expression of intent in capturing the Small and Medium Entreprises (SMEs) segment by partnering with Netherlands based social impact investor Oikocredit by signing the Ksh. 1bn equity investment.
The investment, which is subject to regulatory approvals, will see Oikocredit take a minority stake in Credit Bank. As an investor, Oikocredit will work with Credit Bank to mainstream social impact and impact measurement into Credit Bank’s lending activities.
Speaking at the signing ceremony held last month in Nairobi, Moses Mwendwa, Credit Bank’s Acting Chairman, said: “We welcome Oikocredit as a shareholder with extensive international investing experience and an emphasis on social impact. We look forward to a mutually beneficial relationship.
“Credit Bank’s shareholders approved a rights issue at its