Bank of Baroda (Kenya) Limited has dismissed reports that it is closing its operations in Kenya, calling the circulating information false and misleading. In an official clarification, Bank of Baroda said its Kenyan operations remain normal and that it continues to serve customers, businesses, and households across the country. “Customers, employees, business partners and members
The European Bank for Reconstruction and Development (EBRD) and the Co-operative Bank of Kenya have completed a US$50 million (€43.1 million) cross-currency swap to expand access to financing in Kenyan shillings. The transaction is the first of its kind to use the Kenya Shilling Overnight Interbank Average (KESONIA), Kenya’s new reference rate for financial transactions.
Kenyans using PesaLink can now send up to Ksh 1,000 for free through 21 banks, following changes to transfer charges adopted by participating financial institutions. According to a statement by the National Bank of Kenya, the banks have also introduced a flat Ksh 20 fee for transfers ranging from Ksh 1,001 to Ksh 999,999. This
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