Central Bank of Kenya
People: Sarb reappoints deputy for second term; Central Bank of Kenya looking to replace board
South African Reserve Bank appoints Francois Groepe to serve another term; parliament has approved five new members to the Central Bank of Kenya board, but formal process not yet complete; and more
Bank of Uganda takes control of large commercial bank
Ugandan central bank takes over the management of Crane Bank, the commercial bank; clarification issued over use of governor’s signature
Central Bank of Kenya cuts rates despite new credit legislation
Commercial banks to amend lending rates again following a cut in interest rates; bank launches 50th birthday initiatives including new website
IMF official criticises interest rate caps in speech honouring Kenyan central bank
Interest rate ceilings can interfere with central bank independence and restrict credit access, IMF deputy managing director tells Kenyan officials
Kenyan parliament amends central bank’s regulation powers
Bill requires central bank to take decisions to place commercial banks into receivership “in consultation” with a senior bureaucrat at the country’s finance ministry
Capping interest rates could affect credit, says Kenyan president
Kenyan President approves new banking law despite acknowledging future “difficulties”; government to monitor possible emergence of “unregulated” and “informal” lending mechanisms
Kenyan governor outlines three pillars for ‘new normal’ in banking
2016 to be a year of “transition” for banking in Kenya, says Patrick Njoroge; calls for greater transparency, stronger governance and new models
Kenyan central bank concerned by proposed interest rate caps
The central bank warns of “adverse consequences” from a proposed cap on bank rates, including problems for monetary policy transmission; the measure is part of a bill awaiting presidential assent
Njoroge cites need to anchor expectations as Central Bank of Kenya holds
Monetary policy committee keeps policy rate at 10.5%; increase in fuel tax expected to put temporary pressure on prices, but not to push inflation outside target range
Swift paper warns not to transplant Kenya’s inclusion strategy
Harvard Kennedy School lecturer explores the factors behind M-Pesa’s success in Kenya, and warns against simply copying the country’s approach to inclusion elsewhere
IMF paper explores transmission of volatility along yield curve
Working paper finds differences in transmission between countries with established inflation-targeting frameworks and those in transition
Kenyan central bank sets out Imperial Bank progress
Several court cases to be heard in coming weeks regarding central bank’s handling of receivership; one matter sees two depositors seeking 1 billion shillings
Troubled Kenyan bank to reopen under new management
Chase Bank will be managed by Kenya Commercial Bank, which may go on to acquire majority stake; questions raised over pressures on small and mid-sized banks
Central Bank of Kenya creates lending facility in wake of banking troubles
Emergency liquidity offered to any bank under pressure “from no fault of its own”, as fears mount over the resilience of Kenya's banking sector
Central Bank of Kenya places third bank in receivership
Chase Bank under new management after resignation of chairman and managing director; Imperial Bank progress “postponed” while audit continues
Lenders should reward low-risk customers – Kenyan governor
Banks should praise those performing well regarding credit management, and offer low-risk customers better terms as a result, governor says
Kenya sees a reduction in use of bank services
Mobile payments preferred, with 47.8% of the population using mobile services on a daily basis; banks now mainly used for salary payments
No room for mediocrity, Kenya governor warns banks
Patrick Njoroge tells bankers there is ‘only the thinnest of margins’ for error; each customer should be treated as if they were ‘the only customer in the world’
Central Bank of Kenya to reassess supervision following bank collapses
Central bank begins review of banking supervision following collapse of two domestic banks; new bank licensing on hold until further notice
Kenyan and Ugandan central banks act over troubled bank
Central Bank of Kenya places Imperial Bank under new management after being notified of ‘unsafe and unsound’ conditions; Bank of Uganda moves on local subsidiary
Kenyan central bank hikes by 150bp in Njoroge’s first move
Central Bank of Kenya increases key rate for second consecutive month in first meeting with former IMF adviser Patrick Njoroge as governor
People: Njoroge approved as new Kenyan governor; Tajikistan appoints new deputies
Kenyan parliament approves Patrick Njoroge for central bank governorship; president of Tajikistan appoints new central bank board; Sanusi Lamido Sanusi joins Black Rhino; and more
IMF's Patrick Njoroge nominated as Kenyan governor
President picks IMF adviser Njoroge from a shortlist of five candidates, which included current and former deputy governors; name passed to parliament for vetting
Kenyans invited to apply for central bank governor job
Next Central Bank of Kenya governor to be chosen by president after advert for job published yesterday, inviting Kenyans to apply for role