In April 2024, Citigroup (Citi) made a staggering mistake by erroneously crediting a client’s account with $81 trillion instead of the intended $280. While the error was ultimately reversed, it underscores persistent operational and risk management challenges at one of the world’s largest financial institutions. How the Error Occurred The blunder was the result of […]
Nairobi, Kenya| Agriculture Cabinet Secretary Mutahi Kagwe has directed millers to purchase 400,000 bags of locally grown wheat before they can receive import licenses from the government. The directive, issued on Wednesday, aims to safeguard local wheat farmers who have been struggling with market access and falling prices. According to Kagwe, the government, through the […]
Nairobi, Kenya| Equity Group Foundation has announced the selection of 750 top-performing students from the 2024 Kenya Certificate of Secondary Education (KCSE) examination into its prestigious Equity Leadership Program (ELP). The selected scholars will participate in a six-month pre-university paid internship at Equity Bank branches across the country before joining university later this year. This […]
Nairobi, Kenya| Equity Bank Kenya has announced a reduction in interest rates for all new and existing Kenya Shilling-denominated credit facilities. This follows the recent decision by the Central Bank of Kenya’s (CBK) Monetary Policy Committee (MPC) to lower key benchmark rates. The rate adjustment will take effect immediately for new loans issued from February […]
