The Central Bank of Kenya (CBK) has announced a significant update regarding the country’s banknotes. Governor Kamau Thugge revealed that a new series of banknotes will be printed by a German firm, following the exit of De La Rue from Kenya last year. This move aims to replace aging denominations and introduce updated security features.
Jubilee Asset Management, a subsidiary of Jubilee Holdings, has introduced a new dollar-denominated fund, the Jubilee Money Market Fund (USD). This fund is now accessible to both retail and institutional investors with an initial minimum investment of $1,000 (Sh130,000) and requires minimum top-ups of $500 (Sh65,000).
Equity Bank Group has announced a landmark Sh2.8 billion scholarship fund aimed at supporting 113 students admitted to top global universities. This significant initiative is part of the Equity Leadership Program (ELP), the bank’s social arm dedicated to fostering educational excellence.
MTN Nigeria has announced the successful acquisition of a 7.17% minority interest in Mobile Money Payment Service Bank (MoMo PSB) from Acxani Capital for approximately $4.36 million. This strategic investment marks a significant development for MTN Nigeria, as it now holds full ownership of MoMo PSB.
Georgina Mukami Odhiambo has been appointed as the new Head of IT Retail Banking at NCBA. With over 15 years of extensive experience in the banking sector, Georgina brings a wealth of knowledge and expertise to her new role. Her journey in the banking industry has been marked by significant achievements and contributions to various institutions.
Absa Bank has embarked on an ambitious brand expansion strategy, focusing on regional towns for new growth. The bank has recently opened its latest branch in Rupa’s Mall, Eldoret, marking its 85th branch in Kenya. This expansion will provide customers with access to a comprehensive range of services including transactional accounts, savings accounts, deposit accounts, Shari’ah-compliant solutions, and financial advisory services.
Digital transformation has redefined the banking sector, and NCBA Bank is leading the charge with innovative solutions. Initially, digital transformation focused on enhancing customer interactions through new digital business models. Today, it spans across sectors, driving efficiency and improving customer experiences.
NCBA has announced a significant change affecting both existing and new consumer and commercial current account products. The bank will eliminate monthly account maintenance fees for various account types, including salary accounts, Platinum Flexi, Gold Pay as you go, Premier – All-in-One, and both consumer and commercial accounts.
