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The group, which also operates in Tanzania, Uganda and Rwanda, is in talks for partnerships with banks and telecoms operators in the three countries for mobile phone banking services.
It appears African operators no longer have the fintech market all to themselves. In fact NCBA Group, a Kenya-headquartered financial services conglomerate, recently announced that is planning to work with partners to bring its mobile phone banking service M-Shwari to Ghana, Ethiopia and the Democratic Republic of Congo (DRC).
CBK has resisted efforts to push bond rates above the 14 percent mark, which will reward investors while making it costly for the Treasury to borrow.
In August, the Nairobi Securities Exchange-listed lender began offering asset finance for electric vehicles (EVs) as part of its green strategy.
Regulatory filings show that the Ndegwas’ investment vehicle First Chartered Securities raised its holdings of the bank shares to 216.2 million.