On October 13, 2015 a major bank in Kenya closed its doors without notice, due to the unnecessary instructions from the Deputy Governor of the Central Bank of Kenya (CBK) by placing the bank under receivership and put in the administration of Kenya Deposit Insurance Corporation (KDIC), claiming the bank was trading inappropriately. Imperial Bank […]
Public debt has been an issue of public discourse for centuries. The debate is not about to end anytime soon. With developing countries investing much more resources in public infrastructure, education and other social amenities, public debt is expected to become even a bigger point of discussion moving forward. Just before the March 4, 2013, […]
The frontier market of Kenya isn’t often on U.S. or European investors’ radar. It should be. It offers a timely reminder of financial markets’ complacency about the risk of populism; and the attractiveness of bashing banks to win votes. East Africa’s most advanced economy has introduced a law setting a cap on commercial lending rates and a […]
As the dust settles on the implementation of new laws on loans and deposits interest rates, the focus is now shifting towards areas that may not have been addressed explicitly or sufficient in the law, that has received praises from the mwananchi and sharp criticism from economists on its long-term effect on the economy, and […]
Refer to the whistle blower report we published previously regarding the scandals at the East African Development Bank and the call to request the Director General Vivienne Yeda to step aside after 7 years of oppressive leadership at the Bank. Following the whistle Blowers dossier received by board members early June, Senior managers met with […]
A good number of people do not know Vivienne Apopo but amongst the banking fraternity, she’s one of the most powerful figures of the industry in the region. Vivienne Yeda Apopo is a Kenyan banker and business attorney. She is the current Director General of East African Development Bank(EADB). She assumed that position on 15 January 2009. She […]
By Philip Makokha It is common knowledge that Kenya is among the top countries in the world in Corruption matters. This evil that bedevils us has done us more harm than we can statistically quantify. From unemployment to under-employment, the Kenyan youth continues to harbor that elusive Kenyan dream, if ever, there was one. It […]
By Philip Makokha That same day Jesus went out of the house and sat by the lake.2 such large crowds gathered around him that he got into a boat and sat in it, while all the people stood on the shore. 3 Then he told them many things in parables, saying: “A farmer went out […]
Finally, after bustles and tussles around the matter with the Bankers pleading with the President not to sign into law the Interests rates amendments, Uhuru finally inked it into law. On July 28, 2016, the National Assembly passed the Banking (Amendment) Bill, 2015. The Bill intends to regulate interest rates that are applicable to banks’ […]
A stressed fan of my investigation pieces approached me with what is not shocking since I’ve heard such cries before. Because of security reasons and on her request, her identity shall remain anonymous. The names used in this article are fictitious with the story continuing as it was narrated. Marion works with Qatar Airways as […]
It all started on the 13th of October. I went to the bank only to find a notice attached to the door stating the bank is currently under receivership. At first, I thought it was probably wind up as only a month before did I fix a deposit with the bank. I have worked for […]
The Central Bank of Kenya has published average bank lending rates showing the most expensive and least expensive lenders. According to the list, Housing Finance and Family Bank have the lowest loan rates in the last quarter of 2015 while Middle East Bank and Guaranty Trust Bank were the most expensive. Personal Loan category In […]
