M-Pesa now Working with China’s WeChat

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M-Pesa now Working with China’s WeChat

Special Correspondent - December 4, 2018

Tens of millions of people using Kenya’s dominant mobile money service M-Pesa will now be able to transfer cash to over a billion active...

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Sidian Bank Board Chair James Macharia said Thumbi leaves behind a strong legacy, having led a major transformation of the lender. “Mr. Thumbi has had a distinguished banking career spanning over three decades. During his tenure at Sidian Bank, he led a significant transformation of the business, including significantly growing the Bank’s Trade Finance portfolio, increasing the branch network to fifty branches and expanding digital banking and foreign exchange income streams,” Macharia said. He added that the bank strengthened its operations, improved customer experience, and achieved strong growth under Thumbi, culminating in its elevation to a Tier II bank in September 2025. In the year ended December 31, 2025, Sidian Bank posted a 502 percent jump in net profit to Sh1.73 billion. The growth was driven by higher interest and non-interest income, with net interest income rising by 54.4 percent to Sh4.4 billion, while non-interest income surged by nearly 129 percent to Sh3.8 billion.

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About 60 percent of investments will focus on climate adaptation, particularly climate-resilient agriculture and water management technologies, while 40 percent will go towards mitigation efforts such as renewable energy and energy efficiency. Through the facility, KCB will deploy flexible credit products, blended finance structures, and digital lending platforms to scale access to financing for underserved populations. “This is a bold step to scale climate finance. By targeting MSMEs and smallholder farmers, we are ensuring that no one is left behind in the transition to a climate-resilient future,” said Paul Russo. The funding comes as Kenya faces rising climate vulnerability, with over 80 percent of its land classified as arid and semi-arid. These regions frequently experience droughts and floods, causing economic losses estimated at about 3 percent of GDP annually. KCB has been ramping up its green financing efforts, having assessed loans worth Sh578.3 billion for environmental and social risks last year. This brings the cumulative total assessed since 2020 to over Sh1 trillion under its Environmental and Social Due Diligence framework. The bank also disbursed Sh50 billion in green loans in 2025, increasing its green portfolio share to 25.84 percent from 15 percent in 2023, with investments spanning energy transition, blue economy, e-mobility, and climate adaptation initiatives.

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Tag: Wechat

M-Pesa now Working with China’s WeChat

MOST POPULAR

Chartered Institute of Management Accountants’ (CIMA) Chartered Global Management Accountant (CGMA)...

Over 200 graduates emerge from the Ecobank Group and AUDA-NEPAD MSME...

TAKE A STEP WITH SAMSUNG TOWARDS A SUSTAINABLE FUTURE TOGETHER

KIBO AFRICA DONATES FUNDS TO UPGRADE HEALTH CENTRES WITHIN LEWA COMMUNITY

HOT NEWS

UNICEF and LIXIL to “Make a Splash” and Help Bring Sanitation...

Zaria Court Kigali Now Open as Part of Tapestry Collection by...

Kenya’s Energy Regulator Releases Annual Energy and Petroleum Statistics Report for...

Nokia 2.1 Comes To Kenya

EDITOR PICKS

I&M Group net profit up 24pc to Sh19.8bn

Sidian Bank taps KCB’s John Okulo as its CEO

KCB secures Sh12.5bn for SMEs-linked green financing

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Third Africa Islamic Finance Forum Confirmed for Nigeria March 2018

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