All News and Announcements
Kenya: Central Bank Releases Over KSH55B (~ $500M) to Rescue Struggling Local Lenders
The disclosures, contained in CBK's latest annual report, shed light on the behind-the-scenes operations to rescue struggling lenders from sinking.
IFC and FMO Partner With I&M Bank Ltd. to Support Small and Medium-Sized Businesses in Kenya
The loan will help smaller businesses across a range of sectors in Kenya access financing for working capital, expansion, and to weather the effects of COVID-19.
Kenya: Remittances to Kenya Resist COVID-19
The increase in remittances comes despite the impact of the pandemic on wages and employment across the world.
Kenya's Slum Vendors Rely On Savings Groups to Survive COVID-19
Faced with challenges, a growing number of vendors in Kenya's slums turned to credit unions and savings groups, which could provide loans without collateral, to boost their businesses.
IFC, SANAD, BIO, Symbiotics Announce Loan to KCB Bank Kenya for Green Projects, SMEs
The loan aims to help the bank increase lending for climate-friendly projects and to smaller businesses, especially those owned by women.
Kenya’s Mobile Money Use Hits Record High in October Amid COVID-19 Pandemic
Kenyans transacted 528.9 billion shillings (about $4.9 billion) on their mobile phones in October as usage rose considerably amid the COVID-19 pandemic, new Central Bank of Kenya data showed.
O-CITY Enters Kenya to Drive Contactless Payments Across Matatu Bus Service
Up to 10,000 buses to become cashless with O-CITY's M-Pesa-based ticketing solution.
COVID-19 Crisis Lifts Kenya's Mobile Money Usage to $4.2 Billion a Month
The huge surge is attributed to a government measure instituted to curb COVID-19 spread by encouraging the use of mobile money payments.
Visa and TerraPay Partner to Drive Domestic Remittances
TerraPay and Visa have today announced a strategic partnership that aims to develop and deliver payment solutions to drive financial inclusion and cashless transactions for domestic payments in Kenya and global remittances to Kenya.
World Bank Approves $1 Billion Financing for Kenya, to Address COVID-19 Financing Gap and Support Kenya’s Economy
Kenya has undertaken policy reforms that directly benefit many low-income Kenyan households.