Shivani Siroya, founder and CEO, Tala./FILEFinancial infrastructure firm, Tala, has launched a tokenized lending platform to cater to borrowers without a banking history in the world.It plans to deploy $50 million credit facility via the platform in USDC to power blockchain-enabled, permission-less lending for millions of global customers.The Artificial Intelligence (AI) underwritten consumer lending tool, in partnership with Huma Finance, is the first of its kind in Kenya and is powered by Solana and supported by USDC liquidity facilitated by the Huma ProtocolFor billions of consumers who lack access to traditional banking services and credit history systems, tokenized lending offers faster and…
Author: by VICTOR AMADALA
Pan-African Energy and manufacturing business conglomerate, Amsons Group, has sealed a share purchase agreement (SPA) to acquire a further 27 per cent equity stake in East African Portland Cement Plc (EAPC), a move that is likely to see the firms become majority shareholders.The firm recently completed the purchase of a 29.2 per cent stake in the local cement maker from Associated International Cement Limited (AIC) and Cementia Holding AG.The Tanzanian conglomerate, through Kalahari Cement, a locally incorporated investment firm, seeks to buy the stake from the National Social Security Fund (NSSF) valued at Sh1.6 billion.Bamburi Cement Plc (a related company…
Dorothy Tarimo- Head of Business Solutions-Pesapal, Agosta Liko-Founder Pesapal, Annastacia Kimtai, KCB Bank Kenya managing director and Euster Seghete, Head of Ecosystems & Value chain Banking at KCB Bank Kenya./HANDOUTPesapal, a financial services and business solutions provider, has partnered with KCB Bank Kenya to transform fuel station operations across East Africa.The collaboration will see the two entities roll-out the Pesapal advanced Forecourt Management Solution to over 10,000 fuel dealers in the region. The Forecourt Management Solution provides an integrated digital platform that streamlines fuel dispensing, sales monitoring, inventory tracking, payment processing and financial reconciliation. The technology addresses critical pain points…
Annstella Mumbi, General Manager, Tala Kenya./FILEA Kenyan fintech firm, Tala, has expanded to Latin America with the launch of its services in Guatemala.It is eying the Dominican Republic and Panama by the end of the year, leveraging its scalable and flexible proprietary software, Tala in a Box, for rapid geographic expansion. While most adults in Latin America have access to financial products, they still lack access to essential ones like credit.Tala is expected to address this gap through an integrated solution that combines the intelligence of a credit bureau, the payments execution of a fintech company and the relationship expertise of a bank to scale responsible…
Treasury CS John Mbadi/FilePresident William Ruto’s government has cut critical programmes, including the school feeding programme, fertiliser and seeds subsidy, and university students plan, in a tight Sh4.23 trillion budget to be read on Thursday. The slashing of those initiatives that directly benefit millions of Kenyans, largely at the bottom of the economic pyramid, has triggered anxiety amongst Members of Parliament who are now working with the exchequer to source funds or risk public uproar. This is premium contentSubscribe to Continue ReadingHelp us continue bringing you unbiased news, in-depth investigations, and diverse perspectives. Your subscription keeps our mission alive and…
Ziidi MMfOn Friday, the Capital Markets Authority released the latest report on the leading Money Market Funds (MMFs) by total assets under management (AUM) in Kenya.This is premium contentSubscribe to Continue ReadingHelp us continue bringing you unbiased news, in-depth investigations, and diverse perspectives. Your subscription keeps our mission alive and empowers us to provide high-quality, trustworthy journalism. Join us today to make a difference!Already Subscribed? Sign in Published Date: 2025-06-09 19:13:36 Author: by VICTOR AMADALA Source: The Star
Co-op Bank MD Gideon MuriukiBanks are expected to continue commanding activities at the Nairobi Securities Exchange this week as they release financial results for the first quarter of the year.Last week, the third biggest bank in the country in terms of asset value, Co-operative Bank Group, saw its share price rise by Sh1.25, with investors’ wealth rising by close to Sh9 billion to hit a market cap of Sh91.45 billion.This is premium contentSubscribe to Continue ReadingHelp us continue bringing you unbiased news, in-depth investigations, and diverse perspectives. Your subscription keeps our mission alive and empowers us to provide high-quality, trustworthy…
Cashier counts dollars and shillings at a Forex Bureau in Nairobi /FILEKenyan shilling continued to drop against the British pound and the euro, as traders shun the US dollar, fearing that it might tank on the ongoing global trade war sparked by President Donald Trump’s administration.On Thursday, the local currency traded at 171.79 and 142.20 units against the pound and euro, respectively, having shed close to a unit each compared to Wednesday’s trading.This is premium contentSubscribe to Continue ReadingHelp us continue bringing you unbiased news, in-depth investigations, and diverse perspectives. Your subscription keeps our mission alive and empowers us to provide high-quality, trustworthy…
US President Donald Trump speaks during a press conference /FILEUNITED States President Donald Trump has protested Kenya’s move to impose a 50 per cent tariff on corn imports, spotlighting it among the top 10 unfair trade practices. In a lengthy post on X, the US Department of Trade said the high tariff and other burdensome regulatory requirements effectively blocked US corn exports to Kenya despite the market’s budding potential. “Kenya imposes a 50 percent tariff on imports of US corn, and imposes burdensome regulatory requirements, effectively blocking exports of corn,” the Department stated. According to the US, Kenya’s market for…
Central Bank of Kenya governor Kamau Thugge / FILETHE Central Bank of Kenya (CBK) has inspected 30 banks in plans to ensure they reduce their lending rates in line with the lowered Central Bank Rate (CBR). Speaking during the post-Monetary Policy Committee (MPC) session with journalists on Wednesday, CBK governor Kamau Thugge said the regulator is keen to ensure credit supply to the private sector and families to spur economic development. This is premium contentSubscribe to Continue ReadingHelp us continue bringing you unbiased news, in-depth investigations, and diverse perspectives. Your subscription keeps our mission alive and empowers us to provide…
Developing nations, Kenya included, face a “perfect storm” of worsening external financial conditions, unsustainable debt and weakening domestic growth as the global recession becomes more likely.A global outlook report released late Wednesday by the United Nations Conference on Trade and Development (UNCTAD) warns that the world economy is on a recessionary trajectory, driven by escalating trade tensions and persistent uncertainty.“Global growth is projected to slow to 2.3 per cent in 2025, placing the world economy on a recessionary path,’’ the report says. This will be the lowest growth in over two decades, except in 2020 when the Covid-19 pandemic pushed the World into negative…