Financial Sector Deepening Stories
The report links higher insurance uptake to counties with stronger formal employment, thriving businesses, better literacy rates, and more stable hous...
As the bank expands its services, it is expected to positively impact the local economy by providing much-needed financial services to individuals and...
Regulators warned that a failure of a single provider could disrupt multiple institutions at once, affecting their ability to deliver essential servic...
The AU says more than half of Africans now live in countries spending more on debt repayments than on social services, calling for urgent G20-led refo...
The UN General Assembly on Wednesday adopted the resolution titled "Necessity of ending the economic, commercial and financial embargo imposed by the...
15 of the 20 companies faced fines amounting to at least half of the assets they failed to remit. CIC Insurance bore the largest penalty of Sh999.6 mi...
The audit highlights how many holders of small amounts are deterred from claiming their funds because they face mandatory expenses such as travel, not...
Kenya remains under FATF grey listing, after being flagged in February 2024, a decision that has rattled its financial sector.
The Treasury notes that the proposed increase in spending underscores the government’s continued focus on economic recovery, infrastructure developmen...
The report notes that these losses, driven by corruption, trade misinvoicing and tax evasion, are eroding government revenue, limiting social services...
The compliance audit, which sampled eight universities, found that the institutions held unclaimed financial assets in the form of caution money and o...
The Performance Audit Report, covering six years of UFAA’s operations, noted that the lack of a framework for the surrender and management of non-cash...
The FRC tracks suspicious financial activities through reports filed by banks, mobile money providers, forex bureaus, and SACCOs. SASRA supervises SAC...
The initiative seeks to address gaps in recourse mechanisms for digital wallets and improve safeguards for users of digital financial services (DFSs).
Employees described systematic financial manipulation and workplace exploitation.
Revenue for the coming financial year is projected at Sh3.58 trillion, while planned expenditure is Sh4.64 trillion, leaving a Sh1 trillion budget gap...
The study points to businesses increasingly being involved in these illegal activities, while corruption, fake goods, and trade misinvoicing remain th...
Kenya was grey-listed by the Financial Action Task Force (FATF) in February 2024 for inadequacies in its money laundering/countering financing of terr...
The discussions, held in Mogadishu, focused on practical steps to secure Somalia’s financial system and to disrupt the flow of funds that sustain arme...
During a session with the National Assembly’s Committee on Implementation in Eldoret on Tuesday, MTRH Chief Executive Officer Phillip Kirwa said the f...
The African Union has warned the continent loses billions in illicit financial flows each year. Analysts say stopping tax evasion and corruption is ju...
The Board said Tanui brings over 24 years of experience in financial services, with expertise spanning Risk Management, MSME Lending, Business Lending...
Despite the opposition, President William Ruto and the Treasury have maintained a firm stance, insisting the platform is a critical reform to enhance...
Speaking at a press conference in Mogadishu on Tuesday, Issa revealed that the Supreme Court, the Benadir Regional Court, and the Benadir Regional App...
Through the system, CBK will strengthen its ability to surveil the entire banking sector as transactions occur, covering RTGS, PesaLink, and mobile mo...
Kenya was specifically asked to step up investigations and prosecutions of money laundering and terror-financing cases, ensure that financial intellig...
CS John Mbadi said several agencies are treating government funds as a source of returns, a move he described as a misuse of public resources.
The directive forms part of broader efforts to enhance accountability and oversight across the industry as more insurers adopt technology-driven opera...
Gathungu is advocating for amendments to the Public Finance Management (PFM) Act to introduce penalties, arguing that such measures would promote fisc...
The Financial Reporting Centre is tasked with identifying proceeds of crime and fighting money laundering under the Proceeds of Crime and Money Launde...
