Category: Finance News

June 24, 2019 0

Bitcoin surges above $11,000 thanks to Facebook’s currency plans

By mykenyancareers

LONDON, United Kingdom, Jun 24 – Bitcoin surged to a near 16-month high above $11,000 Monday, overshadowing showings across stock, foreign exchange and commodity markets, with investors looking ahead to the week’s G20 summit. Bitcoin reached $11,251.21, surpassing $10,000 for the first time since March last year, as the cryptocurrency sector got a huge boost … Continue reading “Bitcoin surges above $11,000 thanks to Facebook’s currency plans”

June 24, 2019 0

RBA commends Cytonn on launched of new pensions business

By mykenyancareers

NAIROBI, Kenya Jun 24 – Players in the pensions and retirement arena have been challenged to develop products that are suitable for the informal sector whose participation in the the retirement benefits industry is less than 1%. Chief Manager of the Supervisions Department at the Retirement Benefits Authority (RBA), Charles Machira affirmed the Authority’s commitment … Continue reading “RBA commends Cytonn on launched of new pensions business”

June 24, 2019 0

Tala appoints Ivan Mbowa to lead Kenya business

By mykenyancareers

NAIROBI,Kenya Jun 24 – Tala has announced the appointment of Ivan Mbowa to lead its Kenya business effective 1st June 2019. Mbowa brings to the table over 14 years of experience delivering business results and building high performing teams across Africa. He has built a career around expanding access to finance in Africa, with roles … Continue reading “Tala appoints Ivan Mbowa to lead Kenya business”

June 24, 2019 0

Britain’s Lloyds bank freezes 8,000 offshore accounts

By mykenyancareers

LONDON, United Kingdom, Jun 24 – Britain’s Lloyds Banking Group has frozen 8,000 customer accounts under a wider crackdown on money-laundering, the lender announced Monday. LBG took action late last year after a change to money-laundering rules in Jersey, home to the lender’s international division, the Financial Times had reported. Lloyds froze the accounts after … Continue reading “Britain’s Lloyds bank freezes 8,000 offshore accounts”

June 24, 2019 0

Equity to play key role in creating 5 million jobs for young Kenyans

By mykenyancareers

NAIROBI, Kenya, Jun 24 – Equity has signed up to the Young Africa Works, Kenya; a public-private partnership between the Kenya Government, Mastercard Foundation and the private sector. The transformative and holistic program funded by Mastercard Foundation to the tune of Sh30 billion will transition 5 million Kenyan youth to dignified work by 2023. Equity … Continue reading “Equity to play key role in creating 5 million jobs for young Kenyans”

June 21, 2019 0

Watch out on the black market with the new currency notes

By mykenyancareers

NAIROBI, Kenya, Jun 21- It is just a matter of time before the black market adapts to the new security standards placed in the new currency notes. This is according to iPay Chief Executive Officer Philip Nyamwaya who says the adoption of new currency notes is a medium-term solution. “Going from one paper-based currency to … Continue reading “Watch out on the black market with the new currency notes”

June 21, 2019 0

KCB Group serves National Bank with Take-over document

By mykenyancareers

NAIROBI, Kenya, Jun 21 – KCB group PLC has served the board of National Bank with a take-over offer document to acquire a hundred percent (100%) of the ordinary shares of the Company upon re-designation of the Preference Shares into ordinary shares. The take-over offer document is pursuant to Capital Markets Regulations (Take-Overs and Mergers, … Continue reading “KCB Group serves National Bank with Take-over document”

June 21, 2019 0

Banking Industry spent Sh39billion to pay staff in 2016/2017

By mykenyancareers

NAIROBI, Kenya, Jun 21 – A new report on the banking sector has shown Kenyan banks spent Sh39 billion to pay staff with a reported fall in employee numbers by 2,792, mainly due to realignments attributed to advancement in financial technology. Kenya Banking Industry Shared Value Report 2019 shows an increase in productivity with 90 per … Continue reading “Banking Industry spent Sh39billion to pay staff in 2016/2017”

June 20, 2019 0

Kenya should start spending within its capacity

By mykenyancareers

NAIROBI, Kenya, Jun 20 – Kenya should start living within its means such that when a donor withdraws it can survive and generate revenue from major development projects within the country. This is according to Program Coordinator Institute of Economic Affairs John Mutua who says the country has increased its dependence on donors to finance … Continue reading “Kenya should start spending within its capacity”

June 19, 2019 0

Reforms and transparency needed for Belt and Road success: World Bank

By mykenyancareers

WASHINGTON, United States, Jun 19 – China’s global Belt and Road Initiative could boost economies and reduce poverty rates in dozens of developing countries, but risks environmental damage, debt and corruption if improvements aren’t made, the World Bank said Wednesday. President Xi Jinping’s signature foreign policy aims to reinvent the ancient Silk Road to connect … Continue reading “Reforms and transparency needed for Belt and Road success: World Bank”