Central Bank of Kenya’s Post

📉 Kenyan microfinance banks face significant challenges, reporting KSh 2.4 billion pre-tax loss in 2023. What are the implications for the industry? [link] #Microfinance #Kenya #FinancialServices" "💡 Insights into Kenya's microfinance sector: KSh 2.4 billion pre-tax loss in 2023. What can be done to address the challenges? [link] #Microfinance #Kenya #FinancialAnalysis"

The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Meezan Bank's delegation, led by Chairman Mr. Riyadh S.A.A. Edrees. The discussion highlighted Meezan Bank's significant role as the largest Middle Eastern bank, with 17,000 employees across Pakistan. The delegation praised Pakistan's economic reforms and efforts to increase remittances. Minister Aurangzeb underscored improvements in macroeconomic indicators and ongoing government reforms. Both parties are optimistic about Pakistan's economic growth and future collaboration. #EconomicGrowth #FinanceMinister #MeezanBank #EconomicReforms #InvestmentOpportunities #PakistanEconomy #CheckItNow

Tanzania Bankers Association (TBA), chaired by Theobald Sabi, FCCA who's also NBC Tanzania MD. Revealed the report that shows 26 commercial banks contributed TZS 3.9 trillion to the economy as tax in the past three years, from January 2021 to Dec 2023. Shared an 18% of Total Corporate tax revenues in the country. The Report highlighted other Significant issues and areas of strengths and the role played by the commercial banks to the economy of the country. #BankOfTanzania through its Deputy governor said, the Central Bank was satisfied by the performance that the government will continue to maintain and providing conducive environment to the operations of Banking industry. When I hear a phrase, Africa is a rich continent. I Seconding it. Just look this is a merely contribution of a tertiary sector in a country's economy, but I don't know at the end of the day what is happening later. #bankingindustry #Corporate #Social #Responsibility #Compliance

The Kenya Bankers Association Centre for Research on Financial Markets and Policy®  has urged the Monetary Policy Committee to maintain the current monetary policy stance and keep the Central Bank Rate (CBR) unchanged at 13.0 percent for the following reasons: -Headline inflation is within the target range, and inflation expectations are stable. - Economic growth remains strong despite global challenges and weak private sector confidence. - Private sector credit is slowing due to tighter credit supply conditions, driven by increased credit risk and high market interest rates, influenced by tight monetary policy. -The Kenya Shilling remains stable, supported by strong export earnings and steady inward remittances. -Government financing risks pose a threat to the stability of the exchange rate, delaying the reduction of interest rates.

Commercial Bank of Ethiopia (CBE) has announced changes to its service fees. CBE will implementing revised fees starting from July 26, 2024. Details in Video 👇 #BankingEthiopia #EthiopianFinance #EthiopianEconomy #EthiopianBankingNews #EthiopianBusiness #EthiopianInvestment #EthiopianFinancialSector #EthiopianMarketUpdates #EthiopianBankingTrends #EthiopianFinancialNews

Financials of Islamic banks in Kenya are on the right directions. Despite of some losses with some banks, they are on declining trajectory providing hope for better future. We celebrate these banks for value created during 2023.

#ForexReforms The World Bank shows the importance of remittances in supporting developing economies, and Ethiopia is no different. Remittances account for a 76pc of total foreign exchange transfers. However, a large part of these funds bypasses official banking channels. Ethiopia has received over 15 billion dollars in remittances in the past three years, with the most contributors being Ethiopians in North America at 30pc, and Asia at 29pc. Read more https://ow.ly/JMHI50TkCtb

Below is my interview with the BBC’s “News Day” program this morning. Discussed #Ethiopia’s decision to allow foreign banks to operate in the country for the first time in 50+ years and why the 31 local banks should merge to create 5 large ones. Ethiopia is SSA’s 3rd largest economy (5th overall in Africa) with a GDP of $200+ billion but its banks are ranked as small (except the state owned CBE) compared to other banks in Africa. See annual ranking of Africa’s 100 largest banks by African Business Magazine. #Nigeria #Kenya #Southafrica

Pakistan is grappling with a staggering external debt of $130.1 billion, presenting a formidable financial challenge. To read more about Pakistans economic condition, visit: https://lnkd.in/dwv6r9Wf #PakistanDebt #FinancialChallenge #EconomicBurden #DebtCrisis #NationalFinance #Struggle #Pakistan #DebtManagement #EconomicStability #FinancialFreedom

Here are some of the reasons I highlighted to why the Kenyan Shilling (Ksh) is gaining strength against the US dollar: 💸1. Stable Economic Policies: Kenya's consistent economic policies have instilled confidence among investors, boosting demand for the Ksh. 💸2. Favorable Trade Balance: Kenya's exports have been growing steadily, contributing to increased demand for the Ksh in international trade. 💸3. Foreign Direct Investment: A surge in foreign direct investment indicates growing trust in Kenya's economy, driving up demand for the Ksh. 💸4. Central Bank Intervention: Effective monetary policies by the Central Bank of Kenya have helped maintain the Ksh's value. 💸5. Strong Remittances: Increased remittances from Kenyans abroad have bolstered the Ksh's strength.