KCB

KCB Group CEO Paul Russo
Corporate
Otiato Guguyu and Oscar Magu

Banks bet against President Ruto’s 10 percent interest rate prophecy

The third quarter in the banking sector may witness a significant uptick, driven by a government initiative to issue a Kes50 billion infrastructure bond scheduled for 13th November 2023. Kenya introduced this tax-free bond, which extends over six and a half years, with its coupon rate to be determined by the market. This decision followed a two-year bond that garnered only 35.1 percent of bids at 17.9 percent. Evidently, this signals the government’s openness to accept more aggressive bids, which, according to lenders constituting 45.2 percent of bond investors, may reach as high as 20 percent. The KCB Monthly Economic Brief has indicated that bankers

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KCB Mastercard
In Brief
Newsroom

KCB’s elite cards target high net-worth customers

Lender KCB has intensified its campaign to attract high net-worth customers with the launch of the World Elite Exclusive Credit Card. In partnership with payment services giant Mastercard, KCB announces that the new offering will provide customers with a range of market-exclusive benefits, privileges, and experiences. The cards will be available in two categories: World Elite KES Credit, tailored for high-net-worth individuals who prefer transactions in Kenyan Shillings, and World Elite USD Credit, designed for those engaging in frequent international transactions in US Dollars. Furthermore, the bank has introduced the World Debit card, which will offer exclusive benefits and privileges, ensuring personalized and tailored banking

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KCB 2Jiajiri
Corporate

KCB’s youth skilling initiative 2jiajiri goes regional

KCB Group is set to roll out 2Jiajiri programme in Tanzania, Uganda, Burundi and Rwanda as the lender expands its youth empowerment and job creation initiative regionally. The lender aims to implement the plan in South Sudan and in the Democratic Republic of Congo later this year to accelerate job creation among the youth in the markets it operates. Today, the KCB Foundation, in partnership with the German Government—implemented by GIZ— graduated 3,500 graduates in the construction sector at an event that was graced by President William Ruto. 2Jiariri seeks to create 1.5 million jobs “We are deliberate and committed to change the youth story

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KCB Sweden
Corporate

KCB in Sh1 billion SME guarantee plan with Sweden

Regional lender KCB and Swedish International Development Cooperation Agency (SIDA) have rolled out a Kes1 billion guarantee scheme to de-risk SMEs in their efforts to access credit and support their growth ambitions. The seven-year guarantee scheme will enable the bank to strengthen its commitment to financing SMEs, which continue to experience challenges, especially with access to affordable credit. KCB Bank Acting Director of Retail Banking Michael Kung’u noted that the instrument will provide much-needed momentum for SMEs to tap into the bank’s expanded portfolio of financing. “We are excited about this new instrument as it offers us the flexibility to work with SMEs and the

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