Inspiring Africa's Sustainable Business Growth
KENYA – KCB Bank Kenya has set aside KShs250 billion (US$2.06b) to fund women entrepreneurs in the next five years, cementing the Bank’s role in catalyzing economic growth. In a newly revamped women offering, the Bank will extend the funding to women-led and owned Small and Medium Enterprises (SMEs) across the country. To unlock this, KCB Bank has already…
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KENYA – KCB Group, a financial service holding company, has obtained a loan of US$150 million (KSh18 billion) from the International Finance Corporation (IFC) to support its lending to eco-friendly ventures. IFC disclosures on the new credit line say the new facility will have a maturity of seven years, with a grace period of two years, and will also include…
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KENYA – KCB Group reported a 27.5 percent rise in net profit for the half-year ended June 2022 benefiting from higher income from lending and transactions. The lender’s net income in the period stood at KSh19.5 billion (US$163.04m), up from KSh15.3 billion (US$127.93m) the same time last year. KCB did not declare an interim dividend, joining others such as Standard…
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TANZANIA – Financial services holding company KCB Group has canceled its plan to acquire a Tanzanian lender from London-listed Atlas Mara Limited, citing regulatory hurdles, reports The East African. KCB in late November 2020 announced that it would acquire 62.06 percent stake in Banque Populaire Du Rwanda (BPR) and 100 percent stake in African Banking Corporation Tanzania Limited (BancABC). The Kenyan lender,…
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KENYA – Financial services holding KCB Group is restructuring its executive team, marking the second major reorganization of its top leadership since 2011. The Kenyan lender has let go of four top executives, changed responsibilities for others and created new roles in a move it says will lead to better management. Those who recently left the lender’s top management are Apollo…
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KENYA – Financial services holding company KCB Group will spend a total of US$56 million to acquire two banks in Rwanda and Tanzania from London-listed Atlas Mara limited. The Nairobi Securities Exchange-listed lender had earlier estimated it would acquire a 62 percent stake in Banque Populaire du Rwanda Plc (BPR) and a 100 percent ownership in African Banking Corporation Tanzania…
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KENYA – Financial services group KCB, has given the National Bank of Kenya a US$28 million long-term loan to help the subsidiary meet minimum capital requirements. The Nairobi Securities Exchange-listed lender made the disclosure in its latest annual report. “In Kenya, the group injected US$47 million into National Bank of Kenya, the subsidiary the group acquired in 2019. In 2021, KCB…
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KENYA – KCB Bank Group has been recognized as the best bank in Kenya by the respected Global Finance Magazine during their 28th annual awards for the World’s Best Banks. KCB Bank has now won this award for three successive years. This recognition was awarded to the bank for its robust market presence in the East African region, and its digital innovation to…
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UGANDA – KCB Bank Uganda Limited has appointed Agnes Namyalo Mayanja as an Executive Director. In her role, she will deputize and support the Bank’s Managing Director in the overall strategy formulation and implementation of astute leadership and management in line with the bank’s vision, mission, and values. Prior to joining KCB Bank Uganda, Agnes Mayanja worked as the Chief…
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KENYA – KCB Group is planning to provide an additional capital injection of US$27.3 million to its subsidiary National Bank of Kenya (NBK) in the coming days, with the cash going to help the subsidiary comply with minimum capital requirements. National Bank of Kenya has continued to breach statutory capital levels despite receiving the initial capital support of US$45.5 million from…
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