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In Kenya, deposit insurance is provided by the Deposit Insurance Corporation (DIC), which is a government-owned organization responsible for safeguarding depositors’ interests. The DIC covers all deposits held in Kenyan banks, up to a limit of KES 100,000 per depositor per bank. The deposit insurance scheme in Kenya is mandatory for all banks operating in … Read more
The 2019 merger between NIC Bank and Commercial Bank of Africa (CBA) to form NCBA Group was a landmark deal in Kenya’s banking sector. However, the exemption from stamp duty granted by then-Treasury CS Henry Rotich has returned to haunt former President Uhuru Kenyatta, with Kenya Kwanza leaders now accusing him of tax evasion and … Read more
Starting tomorrow (January 31st, 2023) Digital Credit Lenders operating on the Google Play platform targeting users of Android devices, have to contend with some new requirements. These are measures put in place by Google to make sure that they are dealing with legal entities in Kenya that have the capacity to handle the necessary data involved, … Read more