CIB Kenya, rebranded from Mayfair Bank after CIB Egypt took full control in 2023, is set to disrupt the Kenyan banking sector with a focus on digital services, cash flow-based lending, and Egypt-Kenya trade financing.

• Abhinav Nehra, CEO of CIB Kenya, highlights the bank's strategy to fund SMEs based on performance rather than collateral, a model successfully used in Egypt.
• The bank is implementing the Temenos T24 core banking system and prioritizing digital infrastructure over expanding physical branches, currently operating four branches in Nairobi and two each in Mombasa and Eldoret.
• CIB Kenya is also introducing prepaid cards for various sectors and a daily interest savings account, supported by its parent, CIB Egypt, which posted a net profit of US$1 billion in 2023.

The Standard Chartered Kenya Pension Fund will resume verification for 629 appellants in the 2021 pension dispute after the High Court lifted a temporary injunction. This allows the process to move forward following a Supreme Court ruling that upheld the appellants' claim for recalculated retirement benefits.

• The verification process will occur from October 6 to 9 and on October 13, daily from 9 a.m. to 4 p.m., at Almary Green Business Park in Nairobi.
• David Ong’olo, Fund Chairman, announced the resumption, confirming the fund's commitment to a seamless process.
• The dispute involved the computation of retirement benefits after the bank converted its pension scheme in 1999, with a ruling in April 2022 directing recalculation to include cost-of-living adjustments, housing allowances, and other benefits, plus the return of over Sh1.1 billion in "surplus funds."

Co-operative Bank of Kenya has provided KShs 110 million in debt financing to Eboss Investments Company for the construction of Seven Oaks School, a new British-curriculum institution in Ruiru's Brookview Membley. This financing supports the educational anchor of a larger 143-unit mixed-use development.

• The financing includes an KShs 80 million mortgage for the school's construction and an additional KShs 30 million revolving term loan for finishing housing units.
• Vincent Kihara, Head of Mortgage Finance at Co-operative Bank, emphasized the bank's confidence in Eboss Investments' track record.
• Geoffrey Gitaka, Director at Eboss Investments, highlighted the partnership's crucial role in realizing their vision, stating it has grown "beyond financing."