Browsing: Kenya Bankers Association (KBA)

• The Kenyan shilling has made a strong turnaround against the US dollar this week,
• Last Tuesday, Kenya successfully raised $1.5 billion from its Eurobonds buyback offer initiated on February 7, reducing the chance of defaulting payment on its $2-billion-dollar debt due in June.
• East Africa’s most robust economy plans to use the funds to repay its debut Eurobond issued in 2014.

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• The survey was conducted by interviewing over 33,000 customers of all member banks of KBA.
• The results of the survey were released on Wednesday at a media briefing hosted by KBA, at the Sarova Stanley Hotel in Nairobi.
• This re-affirms the bank’s position as the financial institution offering the most fulfilling customer experience in the industry, Group Managing Director & CEO Dr Gideon Muriuki said.

The Co-operative Bank of Kenya has emerged as the overall winner in the Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA).

The survey was conducted by interviewing over 33,000 customers of all member banks of KBA.

The results of the survey were released on Wednesday at a media briefing hosted by KBA, at the Sarova Stanley Hotel in Nairobi, where Co-op Bank was presented with a certificate of recognition for excelling in customer service based on the survey’s findings.

This award comes barely  …

Borrowers in Kenya should now expect interest rates as high as 30 per cent following the repeal of the interest rate cap law.

Parliament failed to raise the required quorum to defend the rate cap law which came into place in September 2016.

There has been a push by bankers, mainly through their lobby group-Kenya Bankers Association (KBA) to have controls on rate cap revised.

READ:Kenyan Banks begin feeling the interest rates cap effects

The law which has been in place for the last four years has controlled lending rates by commercial banks at four percentage points above the Central Bank of Kenya (CBK) Rate.

CBK has retained its benchmark lending rate at 9.0 per cent for the sixth straight time since bringing it down in July 30 2018.

This means banks could not charge loan at rates above 13 per cent, a move that was aimed at sparing …

The informal sector in Kenya employs approximately 14.9 million Kenyans and contributes an estimated 28 per cent to the country’s Gross Domestic Product…

Mobile subscription in the country grew 6.2 per cent in the second quarter of 2018

A proliferation of mobile applications on popular online stores is exposing Kenyans to increased cyber attacks and fraud, a latest sector statistics report by the Communications Authority of Kenya (CA) has revealed.

This comes in the wake of a fast growing mobile subscription in the country which grew 6.2 per cent in the second quarter of 2018(October-December).

According to CA’s sector statistics report for the financial year 2018-2019, mobile subscriptions in Q2 grew to 49.5 million up from 46.6 million in the first quarter(July-September).

Data subscription during the period increased to 45.7 million from 42.2 million in the previous quarter, meaning Kenyans are increasingly getting connected to the internet.

This has created a field day for fraudsters who are taking advantage of innocent members of the public with little knowledge on cyber attacks.

The report …