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Browsing: Kenya Banks Reference Rate (KBRR)
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