5 Banks Closed in Tanzania

6th January 2018

5 Banks Closed in Tanzania The Bank of Tanzania (BOT) has directed the following banks to enter into compulsory liquidation immediately: a) Covenant Bank for Women b) Meru Community Bank c) Kagera Farmers Cooperative Bank d) Efatha Bank e) Njombe Community Bank These are some of the 5 banks closed in Tanzania. Read more on […]

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Bank of England

Bank of England in Talks to Stop Strike

30th July 2017

Bank of England in Talks to Stop Strike  This maybe the first strike to occur over the last half a century at the Central bank of England. The subordinate staff at the Bank of England are planning a 3-days strike in demand for increased pay for their services.  The bank of England staff working on […]

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Orange Bank

Orange Bank: New Kid on the block

20th April 2017

ORANGE BANK The Orange Telcom of France has announced that they will launch their online banking services on July, 2017. This announcement was made by Orange CEO Stephane Richard. Orange is the largest Telecom company in France.  The company hopes that it will acquire 2 million customers over the next 10 years. The company is […]

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An Open Letter to the Kenyan Banks

27th August 2016

Dear Readers, What would you want our Kenyan banks to do differently? We have collected a number of things we want done differently considering that we have a new law – Banking (Amendments) Act 2016 which determines how much banks should charge us. Enjoy your reading… An Open Letter to the Kenyan Banks Now that […]

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Co-operative Bank Leads in Cutting Interest Rates to 14.5% as required by the law

27th August 2016

Dear Esteemed Kenyans, Now banks will not toss the coin to decide how much they are going to charge you for a loan that you take. Actually, if a bank charges you over 14.5%, it is a crime punishable by the law of the land – Banking (Amendment) Act 2016. Cooperative Bank of Kenya Limited […]

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Bank interest rates have been capped in Kenya. What next?

24th August 2016

The Banking (Amendment) Bill, 2015 was signed by President Uhuru Kenya. It will be used to cap bank lending interest rates. The banks hands will be tied in terms of how much they should charge on loans and pay depositors.   Currently, the Central Bank Rate (CBR) stands at 10.5% meaning that the banks cannot […]

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Kenya’s National Public Debt FY 2016/2017

31st March 2016

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Foreign Remittances in Kenya are ever Increasing

26th September 2014

  Source: Central Bank of Kenya   Kenyans have been receiving more money from their relatives abroad than ever before. This was discovered after the Central Bank of Kenya (CBK) carried out its routine surveys to measure the amount of foreign remittances getting into Kenya. They used sources such as commercial banks and other international […]

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Is Central Banking a domain for Men only?

18th September 2013

  It has been seen lately that the business of fixing the world economies is a man’s game. As central bankers attend their symposium at Jackson Hole, Wyoming the question in their minds is “who will be the next Fed Chairman?”Will it be Larry Summers or Janet Yellen?   Since 1970s, the numbers of women […]

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