- Tullow Oil to invest US$10 million in Kenya’s oil field development
- Harnessing 4IR to propel Africa’s economy to address unemployment
- Kenya ranked 13 on list of countries with good governance in Africa
- Mozambique: Central Bank maintains monetary policy interest rate
- Artificial Intelligence in Africa – Leveling the narrative
- Boost for US-Africa relations as US Treasury Secretary visits Senegal, Zambia
- How Kenyan workers were exploited to build ChatGTP
- Africa Agri Expo attracts 100 investors, $25Mn expected in deals
Since the programme’s inception in 2020, Ecobank Group has extended US$208 million in loans and received US$337.7 million in deposits.
This financial assistance has created an average of 90,000 to 150,000 employment across Africa, primarily in education, agribusiness, hospitality, retail, and distribution.
The product has also received prestigious honours, including Best New Product Launch of the Year 2021 (the Middle East & Africa Retail Banking Innovation Awards), Impact Award 2021 (Financial Alliance for Women), and Outstanding Crisis Finance Innovation Award 2021. (Global Finance Innovators Awards).
In the category of banks with the best case study, Standard Chartered Bank of Kenya took first place, followed by Absa Bank in second place and I&M Bank in third place, in the category of banks with the most nuanced case study in bank operations.
Through productivity programmes and the effective use of operational resources and energy like paper, water, and waste management, including electronic waste, the lenders were recognised in this category for their dedication and investment in ensuring the optimised management of both financial resources and natural capital.
KWFT won Promoting gender inclusivity
In a category that evaluated lenders’ efforts in encouraging women to be formally included in the financial services sector, creating opportunities for female employees to take leadership positions, and empowering female entrepreneurs,
KWFT was named the best bank for promoting gender inclusivity in the industry. Position two went to SBM Bank, and position three went to Equity Bank Kenya.
The National Bank of Rwanda (BNR), Rwanda’s banking watchdog, gave KCB regulatory approval in March to merge the operations there, resulting in a more significant stake thanks to the infusion of KCB Rwanda’s assets into the combined entity.
Through the transaction, KCB expanded its retail banking presence in Rwanda.
Before the merger, BPR held a 10.2 per cent market share, which, coupled with KCB Rwanda’s six per cent stake, allowed it to surpass Equity Bank Rwanda, which was in second place with 11 per cent of the market.
Since he was appointed CEO of Absa in February 2013, he has led the lender’s seamless transition from Barclays Bank Kenya.
“I am delighted to have led Absa Kenya to great commercial milestones while making a contribution to our society over the last decade. I am optimistic that Absa will reach greater heights in the future,” Awori remarked upon leaving Absa.
Awori also served as the Kenya Bankers Association’s chairman for a year, from June 2013 to July 2014.
Before being appointed as Absa’s Chief Executive Officer, he was the CEO of Standard Chartered Tanzania from 2008 to 2013, rising from the bank’s sales director of Middle East, South Asia and Africa.
The University Scholarship Programme will facilitate a smooth transition for the top performers who attain a mean grade of A and A- and the best 2 students living with disabilities each year, from the KCB Foundation High School programme.
“The laptops are part of a deliberate effort by the Foundation to enable the scholars to effectively undertake their schoolwork as well as access their virtual class lessons” said Rosalind.
“We want our Scholars to have an equitable opportunity by continuing to access their class courses and complete their assignments on time. With many of them coming from marginalized communities, access to a laptop for purposes of following the classroom lessons or undertaking assignments was going to be a big challenge,” she added.
The service is now available to many people, including first-time borrowers, who can reap the benefits of a safe and regulated lending solution.
When the transaction is complete, the funds are transferred immediately into the user’s VodaPay Wallet. It can be used directly for in-app purchases, such as buying pre-paid electricity and water, paying bills, using scan-to-pay technology in stores, and sending money to friends and family members.
Because its fees are lower than those charged by traditional providers of short-term cash advances, this cutting-edge product has the potential to revolutionise the industry.