South Africa’s Absa Group said this week it had raised its stake in Absa Bank Kenya to roughly 72%, after acquiring about 3.5% of the lender through a tender offer that fell well short of its original target. Absa said it accepted valid tenders from 2,045 shareholders for approximately 189 million ordinary shares in Absa […]
Read MoreBinance Africa said on Wednesday that financial literacy programmes for young people will determine how much of Africa’s population benefits from the growth of digital assets over the next decade, as the region’s crypto market continues to expand. The blockchain platform, a unit of global exchange operator Binance, said it is expanding free educational courses […]
Read MoreKCB Group, East Africa’s largest bank by assets, launched a Sustainability Bond Framework on Wednesday, paving the way for a Medium-Term Note Programme of up to 300 billion Kenyan shillings ($2.3 billion) over five years, the bank said. The Kenyan lender said the first tranche of the programme would be up to 100 billion shillings, […]
Read MoreiTrustCapital said on Tuesday it has launched trading in thousands of U.S. stocks and exchange-traded funds, letting clients hold equities alongside cryptocurrency and precious metals in the same retirement or investment account. The Irvine, California-based fintech platform, which has offered crypto and physical gold and silver since 2018, said the expansion allows investors to build […]
Read MoreMukuru, a pan-African financial services provider, said on Wednesday it had launched a Visa-branded “Companion Card” in Botswana, linked to its Mukuru Wallet, allowing customers to make cashless payments directly from their digital wallet balance. The card, which does not require a traditional bank account, is aimed at expanding access to cashless payments in a […]
Read MoreEquity Group said 89.7% of its transactions are now conducted through digital channels, highlighting a shift towards online banking as the Kenyan lender expands technology investment and social impact programmes. Equity Group Managing Director and Chief Executive James Mwangi said the migration to digital channels had increased the availability and convenience of its services for […]
Read MoreKenya’s Finance Act 2026 took effect on July 1, introducing changes to income tax, value-added tax and excise duty as the government seeks to broaden the tax base and strengthen revenue collection. The Finance Act 2026 Kenya was assented to by President William Ruto on June 23 and published in the Kenya Gazette on June […]
Read MoreAbsa Bank Kenya PLC reported a 10% drop in first-half profit after tax to 10.5 billion Kenyan shillings ($81.3 million), as lower interest rates weighed on income even as customer deposits and lending grew, the lender said on Tuesday. The bank, a unit of South Africa’s Absa Group, posted a return on equity of 21.7% […]
Read MoreTanzania Opens Government Securities Market to All Foreign Investors. Tanzania’s central bank said it has scrapped foreign exchange restrictions that limited access to its Treasury bills and government bonds, opening the market to investors from any country for the first time. The Bank of Tanzania announced the move on Thursday, August 6, ending rules that […]
Read MoreThe Victoria Falls Stock Exchange (VFEX) has changed how it calculates market capitalisation for companies with dual listings, a move that could sharply increase the reported value of several cross-listed firms without any change in their share price. The new rule, which took effect on August 13, applies to companies whose shares trade on VFEX […]
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