Name of Wealthy Family That Has Overtaken The Kenyattas in Ownership of NCBA Bank
Philip Ndegwa family has acquired an additional 31.6 million shares of NCBA Group, valued at Sh1 billion in the current market. This move has propelled them to become the leading shareholder of the bank, surpassing the Jomo Kenyatta family. First Chartered Securities, the investment vehicle of the Ndegwa family, increased its stake in NCBA Group to 14.44 percent by the end of December 2022.
Fuliza And M-shwari Defaulters Have Reasons To Smile After NCBA Intervention
Kenyan borrowers have a reason to smile after the NCBA Group announced it would waive at least KSh 5.5 billion in defaulted Fuliza and M-Shwari loans. Photo courtesy, image used for evidence and illustration purposes only. The NCBA Group announced it would forgive defaulters under the Central Bank of Kenya's credit repair program.
Risky Borrowers to Pay Higher M-Shwari Charges in New Model
Kenyans have benefited from mobile loans on a number of instances by avoiding the need to visit banks to obtain loans. M-Shwari has also undergone modifications in the days before His Excellency President William Ruto requested Fuliza to cut their interest rates for Kenyans. According to a recent declaration by Safaricom and NCBA, Kenyans would be required to pay interest based on how much money they make.