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Lenders pump in $3.7 billion and $1 billion worth of core capital and tier-II capital respectively in efforts to sustain operations and remain resilient under the new reporting code demanding...
East African Cables announced it had entered into an agreement to sell 51pc of its stake in the unit to Msufini Tanzania at undisclosed price.
States review loan contracts ahead of Libor's end Thursday July 08 2021 Summary After the big “Libor scandal” of 2011, following widespread allegations of Libor manipulation, it became evident that the benchmark had been fiddled with for years. This led to a full-blown inquiry, and the UK Financial Conduct Authority, which oversees global benchmarks, announced in 2017 that use of the Libor would end on December 31, 2021 for the sterling, the euro, Swiss franc, and the Japanese yen. Advertisement After “scandal” of 2011, of widespread allegations of manipulation, it became evident the...
The East African Tuesday January 19 2021 An ATM booth. Most customers in Kenya opted to use mobile money over debit or credit cards in the wake of the pandemic. PHOTO | FILE | NMG Summary Customers stopped using debit, credit and prepaid charge cards in favour of mobile money payment platforms such as M-Pesa, whose transactions of up to $9.17 were free. Advertisement Top banks in Kenya have raised a red flag over an expected significant drop in net earnings for the year 2020. They cite deteriorating economic conditions and the Covid-19 containment measures, which have seen the entire banking...