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Business

Coop bank completes system upgrade as it loans out money

By James Wafula in Nairobi. Kenya’s Cooperative Bank has concluded a major system upgrade which started in July 2019 which has seen the lender transform services in its 155 branches, re-equipping its 11,600 banking agents and over 8.2 million customers. The IT upgrade network has also been extended to its diaspora branches in Uganda, Rwanda […]

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Business

Kenya’s co-op bank sets Kshs 49b for covid recovery

By James Wafula in Nairobi. The Co-operative Bank of Kenya has moved swiftly to rescue clients currently servicing loans but whose businesses and incomes have been hit adversely by the Covid-19 pandemic. The bank is to consolidate a cash outflow of at least Kshs 49b in support of borrowers hit by covid 19. At the […]

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Business

Kenya Co-op bank gives Nairobi SACCO 45 buses

By James Wafula in Nairobi. Fresh from winning the African  award as the best performing bank in the continent, Kenya’s Cooperative Bank has clinched a deal with  Metrotrans,  one  of  the  leading Savings  and  Credit Co-operatives in Kenya’s Transport sector. This comes under a backdrop of sustained transformation of the banks services that have consolidated […]

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2020 tough year for Kenya Co-op bank

By James Wafula in Nairobi. Kenya’s fastest growing digitized bank by assets, Cooperative bank, has issued a profit warning following a tough year that saw the bank’s expenses rise faster than its income. In a public statement, the bank said that its “full-year earnings for the 2020 financial year are projected to be materially lower […]

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Business

Over 1000 jobs lost as Africell leaves Uganda

By  Clement Wangira. UK-based Mobile operator Africell one of the players in the telecommunication industry, has announced that it is closing shop in Uganda. They will cease operations in the country in October 2021. According to an internal memo to staff , the company will wind up business on  7, 2021, and the employees have […]