No Result
View All Result
Tuesday, June 28, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

  • TECHNOLOGY

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Take control of financing on the continent – Ofori-Atta to AfDB

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

  • TECHNOLOGY

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Take control of financing on the continent – Ofori-Atta to AfDB

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Kenya:CBK says foreign banks targeting local market despite new rate cap

bycitibusinessnews
September 26, 2016
in Africa, East Africa
Share on FacebookShare on TwitterShare on Whatsapp

The Central Bank of Kenya (CBK) has disclosed that banks from eight countries are looking to enter the Kenyan market even after capping interest rates and at a time the regulator’s suspension of new lenders still stands.

CBK said banks were being lured to the country by relatively high returns and the country’s geographical location, which makes it an entry point to the African economy.

“I get a lot of banks which want to enter into our jurisdiction, from at least eight jurisdictions among them Japan, as a result of the TICAD conference, the United States, the UAE and South Africa,” said CBK governor Patrick Njoroge who, however, did not name the specific banks.

He noted that the average return on equity of an average topping 30 per cent enjoyed by Kenyan lenders was a key attraction and even if this was to fall following capping of interest rates, it would still be higher than in other markets.

A return on equity of 30 per cent indicates that an investor is likely to recoup their equity input in just over three years.

Kenya passed a law to regulate interest rates a month ago in a move which was expected to repulse investors.

Following President Uhuru Kenyatta’s assent to the law, prices of listed banking stocks slumped as investors sought to offload their shares in fear of a sudden drop in revenues.

Dr Njoroge said local banks were enjoying higher revenue margins than their peers in comparable markets before the price caps, giving them room to cut interest rates and still remain profitable.

The new law has also made small and medium sized banks vulnerable to external investors as they will have to hunt for new capital to upgrade their operations to benefit from high volumes.

Dr Njoroge said the moratorium placed by CBK on the licensing of new banks in October last year was still in place.

CBK froze the entry of new players in the sector to give it time to upgrade its supervisory abilities following the collapse of Imperial Bank.

UAE based Dubai Islamic Bank (DIB) was in the process of setting up shop in the country having received an approval and has since been marking time. DIB has used over Sh2 billion to keep its offices open during the waiting period.

US based JP Morgan Chase has also declared intention to enter the Kenyan market with an eye on banking multinationals, large corporates and the government.

At the end of last year JP Morgan chief executive Jamie Dimon disclosed that the lender was planning to make a second attempt to enter the Kenyan market while accusing the regulator of thwarting its first effort.

–

Credit: Business Daily

ADVERTISEMENT

Related Posts

Business

Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

byNerteley Nettey

Vice President, Dr. Mahamudu Bawumia, has reiterated the need for a regional approach to enhance the competitiveness of Africa. According...

Read more

As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

Ticket prices to rise following B.A schedule change on Accra-London-Accra route

Bawumia calls for more AfDB support as African economies battle global challenges

Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

Take control of financing on the continent – Ofori-Atta to AfDB

We’ll avert any looming food crisis with effective planning – AfDB Boss

Next Post

S.Africa's rand resumes rally as yield-hungry investors shift into EMs

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.