Phaisal Kutukai
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Saccos Urged to Invest in Product Development to Remain Competitive
Savings and Credit Cooperative Organizations (SACCOs) have been encouraged to increase investments in product development and embrace new technologies to withstand growing market competition, especially from commercial banks. According to Cooperative Bank of Kenya Vice Chairman Macloud Malonza, commercial banks have increased product development efforts, aggressively targeting all depositor categories, especially those in formal employment.…
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CBK Clarifies It Has No Plans to Reintroduce Interest Rate Caps
The Central Bank of Kenya (CBK) has moved to dismiss speculation over a possible return to interest rate caps, clarifying that its recent consultative paper on risk-based credit pricing does not propose the revival of the controversial policy. In a statement released after the close of public submissions on the Consultative Paper on the Review…
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Why Tracking Your Expenses Is Key To Financial Freedom
In today’s world, where needs are endless and one-click purchases are the norm, we often find ourselves staring at our financial statements—be it M-Pesa or bank accounts—wondering, “Where did all my money go?” Despite the convenience of modern transactions, tracking expenses remains an essential practice. It not only fosters financial discipline but also empowers individuals…
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