Eco.business fund has identified ways to boost Family bank’s “agricultural lending capacity” including a tailored training on lending to the agricultural sector. Chairperson of the development facility, sub-Saharan Africa, Lisa Stahl said, the program is in line with their technical assistance mandate, which is to build staff capacity and implement credit assessment technologies. “The agricultural sector is key in addressing climate change mitigation but has often been viewed by the banking industry as too risky, which finds us in a scenario where too little attention is given to such a vital sector,” Ms. Stahl said. More than 100 staff of Family Bank…
Author: NBM CORRESPONDENT
Plans by the East African Community (EAC) to set up a regional central bank and adopt a single common currency has begun to look like a success story as all member states are hoping to attract foreign capital and become the region’s financial hub. While the formation of a regional central bank has been hailed as a move in the right direction, the community is considering “having the single currency by 2027”. EAC Secretary-General Peter Mathuki, said the East African Monetary Institute and the Central Bank of East Africa will be set up this year to help harmonize member states’…
By Mikhail Marchenko Digitalization and technological achievements, which have been observed in the African region for the past decade, have sped up the inevitable processes in fintech, changing its landscape completely. The new challenges and opportunities presented by online businesses are related to Covid-19 and the wide range of technological breakthroughs in Kenya and beyond. But, it is necessary for someone who plans to plunge into fintech business this year to reflect on key trends and factors, and the role Kenya is going to play in the process. Digital lending started in 2012 and sparked interest in 2015 when numerous…
Ethics and Anti-Corruption Commission (EACC) Chairperson, Archbishop (Rtd) Dr. Eliud Wabukala’s six-year tour of duty has come to an end. While addressing staff this morning at the Chairperson’s farewell meeting at the Integrity Centre, EACC CEO Mr. Twalib Mbarak lauded Dr. Wabukala as the first Chairperson to complete his tenure in the Commission’s history and thanked him for his wisdom, dedication and guidance. Terming his end of tenure at the Commission as a normal change of vocation, Dr. Wabukala thanked staff for the team spirit that they had exhibited for the entire period he worked with them. “When I first…
The resort spots traditional Swahili architecture that is fused with Italian style and modern luxury When Italian couple Severio D’Angelo and Antonella Baccini set off looking for a retreat away from the harsh European winters, they never dreamt that this would be the start of Malaika Beach villas. Married for 33 years and having worked in various countries in Africa mostly in the construction sector, they settled back in Italy but in their latter years came to Kenya to experience sun-kissed beaches, and try their hands on a resort business. In 2013, the couple bought a property with 18 bungalows…
Kenyan patients are crying out for injectable ARVs. Will a trial backed by KEMRI, Aga Khan and Ampath be a game changer? Health care providers are at it again. When on March 31, 2022 the first HIV patient in Kenya was injected with antiretroviral (ARV) medication after being enrolled in a study being conducted at The Aga Khan University Hospital (AKUH), Nairobi, many thought getting people to join the clinical trial would be a big challenge. But a team carrying out the study, dubbed “Cabotegravir And Rilpivirine: Efficacy and Safety – CARES”, and backed by Janssen Pharmaceuticals, a division of Johnson & Johnson,…
A digital (cashless) remittances company, WorldRemit, announced that 82% of Africans working abroad send money from the diaspora to their home countries face the cost of living challenge that has risen since the start of the year. The firm, in its Cost of Living report, highlighted the impact of inflation on people around the world, noting that almost half (45%) now only send money to immediate family, rather than friends and distant relatives. The study, conducted in October 2022 to determine the effects of the increased cost of living on money senders in the United States, United Kingdom and Australia,…
Alternative and sustainable investments high on the agenda as East and Central African institutional investors convene in Zanzibar for ‘high impact dialogue’ on economic recovery and development in the region. Zanzibar is set to host the East and Central Africa institutional investors forum to push the development agenda of the region. Themed “rethinking investment returns in the new normal, investing for impact”, the conference is scheduled for February 22 and 23, and will feature special workshops aimed at improving investment decision making. Tanzania has been selected as the host country for this event because it demonstrates high-growth, has put in place various…
Mastercard opens its first office in Mauritius to broaden presence in East Africa and the Indian Ocean Islands, while also strengthening its commitment to serving the emerging market of Mauritius with its financial products and services.
A discussion on how to create wealth through co-operatives is timely. First, most people do not understand what a co-operative society is, and what it does. At the same time, people confuse a Co-operative Society and a Savings and Credit Co-operative Society (SACCO). Some use them interchangeably. However, they are different in more ways than one. Before deciding where to put your finances, it is important to understand the difference between the two. While a co-operative promotes the welfare and economic interests of its members and is open-ended in its operations, a SACCO is limited to holding savings and providing…