Hub Category: Industry Related News

Can’t lend, won’t lend: why banks are locking up their vaults
The Standard, April 7, 2020 • April 7, 2020

Despite CBK freeing up to Sh35.2b through various Interventions for onward lending, lenders are wary of the heightened risk of default as the coronavirus pandemic continues to wreak havoc on businesses and household Incomes…full story here and here


SIB registers 24pc returns in crude, forex trading
Business Daily, April 7, 2020 • April 7, 2020

Standard Investment Bank (SIB) forex and commodities trading platform made a return of24.45 percent in the three months to March…full story  


Consumers to expect price hike under proposed tax law
The Star, April 7, 2020 • April 7, 2020

Manufacturers are likely to pass down the cost of items on the food basket to consumers who are already grappling with the negative impact of coronavirus…full story


Experts warn over effects of tax changes
The People Daily, April 7, 2020 • April 7, 2020

National Treasury has proposed to introduce drastic changes to the tax incentives and exemption regime, which if approved, are likely to water down the proposed tax reductions…full story


Mobile lenders suspend late payment penalties
Business Daily, April 7, 2020 • April 7, 2020

Mobile lenders have suspended late payment fees to cushion customers whose incomes have been disrupted by the impact of the coronavirus shutdown. The Digital Lenders Association of Kenya (DLAK), which rep­resents 17 major digital lenders, says the relief will be communicated by respective providers. M-Shwari has offered distressed borrowers a month’s relief on late payment […]


Infrastructure, green bond investors to pay levy on interest
Business Daily, April 7, 2020 • April 7, 2020

Interest earned from infrastruc­ture and green bonds will now be subjected to 10 percent with­holding tax like others in pro­posed changes. The proposed changes come at a time the Central Bank of Kenya (CBK) is seeking Sh60 billion through a nine-year infra­structure bond to fund projects in the 2019/2020 budget…full story


Economic strategy options available under Covid-19
Business Daily, April 7, 2020 • April 7, 2020

Economic contraction, downturn and mark-time continue to be registered in Kenya with little uptake of appropriate policies. With policy denial, challenges in capacity worsen under Covid-19. CBK measures to cushion citizens against Covid-19 shocks…full story here and here


Borrowers blacklisted on CRBs hit 3.2 million
Business Daily, April 6, 2020 • April 7, 2020

More than 3.2 million Kenyans are today negatively listed as loan defaulters with the country’s credit reference bureaus(CRBs) in an economy where job cuts and near stagnant wages have left thousands of people in a debt trap. The latest data from CBK shows increase in defaulters…full story here and here


Why change in the budget calendar is most welcome
Business Daily, April 6, 2020 • April 7, 2020

Treasury CS Ukur Yattani has expressed the need to change the budget due to the ongoing pandemic pangs…full story


Employees income shrinks by 76pc over coronavirus
The People Daily, April 6, 2020 • April 7, 2020

Income for the Kenyan worker has reduced by 76 per cent on the back of Covid- 19 pandemic, making it the highest in Africa, says a new report by research firm Consumer Insight Africa…full story


Britam rides on premiums to record Sh4.6b net profit
The People Daily, April 6, 2020 • April 7, 2020

Britam Holdings has recorded Sh4.6 billion in pre-tax profit for the full year ending December 31, 2019, a significant improvement compared to a loss of Sh2.3 billion in the previous year, with the board of directors recommending a dividend payment of 25 cents per share…full story


Safaricom rise lifts NSE from its 17-year low
Business Daily, April 6, 2020 • April 7, 2020

Safaricom share has gained more than Sh160 billion in valuation in the last five trading sessions to lift the Nairobi bourse from a 17-year low caused by the coronavirus pandemic that has triggered a sell-off by foreign investors…full story


Investor loss fears as land registries closed indefinitely
Business Daily, April 6, 2020 • April 7, 2020

For close to two months now, the national land registries have remained shut, effectively freezing multi billion-shilling trans­actions amid rising disquiet by interest groups…full story here and here


105.1882-The Indicative value of the shilling to the dollar
The Star, April 3, 2020 • April 7, 2020

Value of the shilling to the dollar…full story


Small traders exempted from turnover tax in Bill
Business Daily, April 3, 2020 • April 7, 2020

Small-scale businesses and companies with annual sales of below ShS00,000 will be exempted from paying the one percent sales tax as part of confirmed Covid-19 cases in Kenya, according to official update yesterday of a series of measures to cushion them from the impact of the Coronavirus pandemic, according to the tax reliefs draft bill […]


Forex reserves drop to Sh836 billion
Business Daily, April 3, 2020 • April 7, 2020

Central Bank of Kenya usable foreign exchange reserves dropped sh 35,87 billion in the week to March 26, to over two years…full story


Virus ‘to cut Sh1trn from Kenya GDP’
Business Daily, April 3, 2020 • April 7, 2020

Kenya’s economy could shrink by five percent in what will represent a $10 billion (Sh1 trillion) loss of the country’s output if the coronavirus pandemic is not contained, management con­ consultants McKinsey & Company has warned in a new report to be released today…full story here and here


How Covid-19 crisis will force State and firms to rethink accounting, risk
Business Daily, April 3, 2020 • April 7, 2020

The Covid-19 has brought the globe to standstill with various governments re-channeling their re­ sources to combating the existing or anticipated threat to their nations. 1n the developed world, super powers such as the United States and China are battling the pandemic whilst also staring at an unprecedented financial crisis last witnessed a decade ago. […]


Aviation, Tourism among most hit as job losses in Kenya surge
The Star, April 3, 2020 • April 7, 2020

The automotive industry, tourism, aviation, and non-food retail sectors face the highest exposure to financial distress as the global economy grapples with the effects of the coronavirus…full story


Invest in Crowd I at your risk, warns CMA
Daily Nation, April 3, 2020 • April 7, 2020

The Capital Markets Authority and Betting Control and Licensing Board have warned the public against investing in online platform Crowd I, which has been inviting investments with promises of higher returns…full story


CMA raises red flag over illegal currency traders
Business Daily, April 3, 2020 • April 7, 2020

The Capital Markets Authority (CMA) has warned that Ken­yans are being lured to trade currencies by…full story


HF cuts lending by Sh4.8bn, shifts from real estate model
Business Daily, April 2, 2020 • April 7, 2020

Housing Finance (HF) reduced its lending by Sh4.89 billion on shift from real estate project financing to lending to individuals…full story


Investors turn to gold in bear market
Business Daily, April 2, 2020 • April 7, 2020

The gold derivative at the Nairobi Securities Exchange(NSE) recorded its highest ever traded volume of 40,600 units on Tuesday as investors eyed the safe haven metal as an alternative to battered shares…full story


Listed firms recovery board faces headwinds
Business Daily, April 2, 2020 • April 7, 2020

The proposed trading board for listed companies that fall into financial or management trouble that was to go live yes­terday has stalled following a tussle with the Nairobi Securities Exchange (NSE)…full story


Foreign investors pull Sh11 billion from NSE
Business Daily, April 2, 2020 • April 7, 2020

BAT,KCB,  KenGen, Kenya Power, Olympia Capital, Safaricom, EABL and other corporate companies participation in the Kenyan bourse and how they allowed for the foreign companies to pull out Sh11 billion from the NSE…full story here and here


Person-to-person mobile money transfer hits Sh684.5 billion mark
The People Daily, April 1, 2020 • April 1, 2020

The value of person-to-person (P2P) transfer over mobile money platforms hit Sh684.5 billion for the three months to December, latest statistics from Communications authority of Kenya (CA) indicates…full story


NSSF tenant scheme turns to mobile case
Daily Nation, April 1, 2020 • April 1, 2020

The National Social Security Fund (NSSF) in partnership with Safaricom has unveiled code through which member NSSF Tenant Purchase Scheme can use to make their month: payments through M-Pesa. This is in line with the shift to a cashless payment system to curb the spread of Covid- 19…full story


Treasury Consolidated Bank stake hits 93pc
Business Daily, April 1, 2020 • April 1, 2020

The bank had borrowed Sh1.12 billion from CBK to address liquidity shortage but had cut this to Sh720 million by last December…full story


CBK snubs Sh68bn T-bill bids as it nears target
Business Daily, April 1, 2020 • April 1, 2020

The Treasury rejected almost half the bids in March a s it neared its yearly borrowing target amid low subscriptions last week target amid low subscriptions last week. Central Bank of Kenya (CBK) data shows the regulator received bids totaling Shl44.97 billion from investors in the past four weeks auctions but accepted just Sh76.78 billon…full […]


Treasury floats Sh60 billion bond
The Standard, April 1, 2020 • April 1, 2020

The government is set to borrow Sh60 billion from the domes­ tic market next week. The Central Bank of Kenya (CBK) said yesterday the nine­ year bond is to finance infrastructure developments and will pay an interest rate of 10.85 per cent…full story


Ways for brands to stay afloat amid virus crisis
Business Daily, March 31, 2020 • March 31, 2020

For the last three months, the now widely spread coronavirus has shaken global economies, causing widespread panic in communities, businesses and the financial and bond markets…full story


Strategies for SMEs to weather disease
Business Daily, March 31, 2020 • March 31, 2020

The coronavirus pandemic though not making of any particular person, could not have come at a worse time for the Kenyan small and medium enterprises (SMEs) which have received the short end of the stick for the last three years amid the economic slowdown…full story


Shilling holds steady
The Standard, March 31, 2020 • March 31, 2020

Shilling holds steady. The Shillling was stable yesterday due to commercial banks and multinationals offloading dollars to fund their activities, traders said. Commercial banks quoted the shillling at Sh104.55/75 per dollar, compared with Sh104.50/70 at Friday’s close…full story


Scrap the entire turnover tax load, small traders urge KRA as Covid-19 bites into profits
Daily Nation, March 31, 2020 • March 31, 2020

Maureen Kiano, a hotel owner operating in Nairobi’s CBD area, has recently experi­enced the toughest weeks in her 5-year career as a hotelier…full story here and here


Private sector launches virus data centre
Daily Nation, March 31, 2020 • March 31, 2020

The Kenya Private Sector Alliance (Kepsa) has rolled out a plan to help its members in the fight against the Covid-19 pandemic that is hurting businesses…full story


Domestic debt:
Daily Nation, March 31, 2020 • March 31, 2020

Out of this Sh6.3tri l l ion, domestic debt is Sh:3.04trillion. A bulk of this, about Sh2tril lion is made of Treasury bonds while treasury bills, excluding repos, stood at Sh925bil­ lion. The rest of the debt is in the form of overdrafts at the CBK, clearing items in transit, advances from commercial banks, Pre-1997 […]


Signs your brand isn’t telling a winning story
Business Daily, March 26, 2020 • March 31, 2020

In our modern marketing landscape, brands can­ not afford to exist as just another faceless entity…full story


Corona crisis raises Kenya’s debt by Sh158b
The Standard, March 26, 2020 • March 31, 2020

The government, which has been running on empty, made the appeal to the development agencies as the novel coronavirus continued to wreak havoc on the country’s health and economic fronts. This as the country stares at a major slowdown in its economic growth this year, which the Central Bank of Kenya’s Monetary Policy Committee scaled […]


Uhuru offers tax breaks to cushion Kenyans, traders
Daily Nation, March 26, 2020 • March 31, 2020

President Uhuru Kenyatta has unveiled a double-edged measures to cushion the pangs of the Coronavirus by introducing tax reliefs. the decision was arrived at after consultations with stakeholders including the Central Bank of Kenya…full story


Save SMEs from coronavirus effects
The Star, March 25, 2020 • March 25, 2020

Walk to your banks – be it Cooperative Bank, Equity Bank, Absa, Sidian Bank, Standard Chartered or any other bank that you are working with – they have come up with packages to make sure your businesses survive…full story


Lenders tip CBK rules to spur credit growth
Business Daily, March 25, 2020 • March 25, 2020

Banks say the relief extended by the Central Bank of Kenya (CBK) to the institutions will go a long way in helping borrow­ers to survive the impact of the coronavirus…full story


Kenya seeks Sh122bn IMF, World Bank aid
Business Daily, March 25, 2020 • March 25, 2020

Kenya is seeking Sh122.5 billion ($1.15 billion) emergency funding from the International Monetary Fund (IMF) and the World Bank to support the slowing economy in the face of the coronavirus crisis. Central Bank of Kenya (CBK) Governor Patrick Njoroge yes­terday said Sb85.2 billion ($800 million) is expected from the World Bank and Sh37.3 billion ($350 […]


Regional trade hit as virus slows down border clearance
Business Daily, March 25, 2020 • March 25, 2020

Besides shutting of the borders, more checks have been introduced to minimise exposure and curtail export of the virus…full story here and here


IMF sees 2020 recession as bad as global financial crisis
The Standard, March 25, 2020 • March 25, 2020

The International Monetary Fund (IMF) expects a negative global growth outlook for 2020 -a recession at least as bad as during the global financial crisis or worse Managing Director Kristalina Georgieva has said…full story


CBK boss blames rogue traders for shilling decline
Business Daily, March 25, 2020 • March 25, 2020

Central Bank of Kenya Governor Patrick Njoroge yesterday said rogue elements in the cur­rency market and some traders who had ‘misunderstood’ the regulator’s dollar buying programme had contributed to the weakening of the shilling against the dollar…full story


How businesses will be disrupted by corona crisis
Business Daily, March 24, 2020 • March 24, 2020

The principal argument advanced by its author is that the world, as a result of Covid-19 disruption of manufactured goods have realised the adverse impact of putting most of their eggs, if not all, in one basket. That is China for that matter…full story


AYE, VAT relief to cushion workers and firms
Business Daily, March 24, 2020 • March 24, 2020

The CBK last week struck a deal with commercial banks to introduce new measures to cushion individuals businesses that find themselves in financial distress…full story


CBK cuts main loan rate, lowers growth estimate to 12-year low
Business Daily, March 24, 2020 • March 24, 2020

The Central Bank of Kenya (CBK) has cut its benchmark rate by the largest margin in three and a half years and low­ered the amount of deposits banks must hold with the regulator in efforts to boost flow of cheap loans in an economy plagued by the outbreak…full story here and here


Economies to shrink by 1pc globally
The Standard, March 24, 2020 • March 24, 2020

Goldman Sachs has said it expects global real gross domestic product (GDP) to contract by about one per cent in 2020, a sharper economic decline than in the year following the 2008 global financial crisis…full story


Broke government with limited options in fight against corona
The Standard, March 24, 2020 • March 24, 2020

President Uhuru Kenyatta’s financial armory is fast running out of weapons to combat the pandemic. He has few options in the face of growing calls for the government to give businesses some form of tax relief, or cob­ble together a stimulus pack­ age to ave1t an economic melt­ down. Last Friday, CBK released Sh7.4 billion […]


Economy moves to autopilot as tough measures kick in
Daily Nation, March 24, 2020 • March 24, 2020

The economy entered its toughest week yet yesterday as the strict measures to control the Covid-19 pandemic kick in. With bars closed, travelling and shopping restricted, hotels and restaurants left to only do takeaways and home deliveries, and international flights suspended, the dark cloud that has come with the novel coronavirus has finally reached our […]


CBK frees Sh35 billion to support distressed borrowers, cuts interest
Daily Nation, March 24, 2020 • March 24, 2020

The Central Bank of Kenya (CBK) yesterday freed up Sh 35.2 billion and made it immediately available to commercial banks to support distressed borrowers as a result of the novel coronavirus (Covid -19 )…full story


Debt, Corona dims Kenya commercial oil prospects
The People Daily, March 23, 2020 • March 23, 2020

Tullow Oil’s crippling Sh300 billion net debt and the plunging global oil price on the back of the novel coronavirus pandemic are set to dim Kenya’s prospects for commercial output in 2023…full story


CBK sells dollars to curb fall of shilling
Business Daily, March 23, 2020 • March 23, 2020

The Kenya shilling tumbled to a four and a half year low in Thursday’s session as turmoil in global financial markets spilled over into frontier economies this is according to CBK report…full story


Online sales rise sharply as pandemic fears mount
Business Daily, March 23, 2020 • March 23, 2020

Consumer behaviour in KOnline sales rise sharply as pandemic fears mountenya has also changed as demand shifts to goods rat can help contain the virus such as foodstuffs, sanitisers and cleaning agents…full story


What investors are looking for in young entrepreneurs’ ideas
Business Daily, March 23, 2020 • March 23, 2020

In Africa, despite its attractiveness to foreign investment, there are still high rates of unemployment in the country. According to the 2019 Census, 39 percent of the youth are unemployed, the highest rate in East Africa. Although government entities show the challenge lies with costly manufacturing and low access to investment, the problem, however, seems […]


CBK policy body meets on back of pandemic to give guidance on economy
The People Daily, March 23, 2020 • March 23, 2020

Central Bank Monetary Policy Committee (MPC) meets today to decide whether to review its base lending rate, also known as Central Bank Rate (CBR) from the current 8.25 per cent…full story


Coronavirus slows sale of bills, bonds
Business Daily, March 23, 2020 • March 23, 2020

The Central Bank of Kenya accepted Sh22.913 billion at average rates of 13.20 percent and 13.40 percent for the 20 years and 25 years bonds respectively as the government continued to reject aggressive bids post repeal of interest rate cap…full story


Banks defy CBK on removal of M-Pesa transfer fees
Business Daily, March 20, 2020 • March 20, 2020

A number of banks were on Tuesday yet to comply with a directive by the Central Bank of Kenya…full story  


Why Kenyans need mortgage incentives over coronavirus
The Nairobian, March 20, 2020 • March 20, 2020

Kenyans generally are broke, if a recent pronouncement by Central Bank of Kenya (CBK) Governor Patrick Njoroge is anything to go by…full story  


Treasury mulls mini-budget to rescue economy from collapse
The Standard, March 20, 2020 • March 20, 2020

National Treasury may present a mini-budget to address the impact of the deadly coronavirus…full story


Bail out Kenyan firms to overcome corona crisis
Business Daily, March 20, 2020 • March 20, 2020

The national government should move quickly to rescue Kenyan firms that are reeling from coronavirus impact, barely two weeks…full story


Shilling weakens to lowest level since Sept 2015
Business Daily, March 20, 2020 • March 20, 2020

Currency traders, who spoke off-the-record because of fear of reprisal from the Central Bank of Kenya…full story here and here  


Virus-hit NSE stocks shed half a trillion
Business Daily, March 20, 2020 • March 20, 2020

Stocks listed on the Nairobi Securities Exchange (NSE) have lost Sh573 billion of their value over the past two months as the spread of the coronavirus and other economic…full story


Be lenient on sectors hit financially by lockdown
Daily Nation, March 19, 2020 • March 19, 2020

Matatu Owners Association chairman Simon Kirnutai has asked lending institutions to reconsider their loan recollections, considering the Covid-19 pandemic…full story


Digitalisation megatrend for future economy
Business Daily, March 19, 2020 • March 19, 2020

In the past 10 years, we have had tremendous productivity improvements as a result of what we refer to as expansion…full story


Mr President Kenyans want more money
The Standard, March 19, 2020 • March 19, 2020

Govt marshal’s banks to provide loans in a positive step to prop up the economy. CBK is meant to cut cost of borrowing…full story


Mitigating the economics of COVID-19
The Star, March 19, 2020 • March 19, 2020

With a focus on the economic impact of COVID-19, it is evident that the virus presents significant economic threats…full story


NSSF stock holdings down Sh18bn on bear market
Business Daily, March 19, 2020 • March 19, 2020

The National Social Security Fund (NSSF) has seen the value of its Listed equities drop 28.6 percent or Sh.18.5 billion in the past 20 months…full story


Stock yields increase steeply on market fall
Business Daily, March 19, 2020 • March 19, 2020

Investors buying shares at the Nairobi Securities Exchange (NSE) at prevailing prices are enjoying a return from dividends…full story here and here


Insurance firms get more time to adopt new accounting regulations
The Standard, March 19, 2020 • March 19, 2020

Share prices of listed insurance companies dropped by an average of 20.5 per cent in the 12 months to January 2020. The hardest hit was CIC Group, whose share value dropped by 36.8 per cent in 2019…full story


Innovations Disrupting the Real Estate Industry
The Standard, March 19, 2020 • March 19, 2020

The value of the global real estate industry is estimated at $217 trillion, with residential property making up the lion’s share at about 75% of the total value…full story


CBK to boost economy with rate cut, analysts say
The Standard, March 19, 2020 • March 19, 2020

The Central Bank of Kenya (CBK) is expected to cut interest rates next week to support the economy amid the Covid-19 cri­ sis despite inflation and exchange rate pressures, an ana­lysts poll shows…full story


Shilling at seven-month low as NSE sees uptick
Business Daily, march 19, 2020 • March 19, 2020

The Nairobi Securities Exchange main index which had dropped to a 16-year-year low last week…full story


US stocks plunge 12pc in big rout
The Standard, March 18, 2020 • March 18, 2020

The stomach-turning ride on global financial markets took a dramatic turn with US stocks plunging the most since 1987 after President…full story


Agility will steady firms past rough waters
Daily Nation, March 18, 2020 • March 18, 2020

Aaron De Smet, a senior partner leading organization design at McKinsey, defined workplace agility as the ability of an organisation to renew itself, adapt, change quickly…full story  


Central banks seek to ease Covid-19 impact on economy
The People Daily, March 18, 2020 • March 18, 2020

Central banks across Africa are mulling a string of stimulus packages meant to cushion the regions’ economies…full story


Cheer up investor, markets will always stage comeback
Business Daily, March 18, 2020 • March 18, 2020

Eat least read about her moves during last week’s capitulation. It’s the Lady in Red again. And she was fast and furious; the Nairobi Securities Exchange (NSE) dropped…full story


Experts paint a gloomy picture of global and Kenya economy
The Star, March 18, 2020 • March 18, 2020

The Organisation of Economic Co-operation and Development (OECD) projects the world economy to grow 2.4 per cent from an estimated 2.9Banking stocks drop as NSE resumes trading…full story


Take decisive measures to ensure the economy does not grind to a halt
The Standard, March 18, 2020 • March 18, 2020

Banknotes could be possible carriers of coronavirus. Central Bank of Kenya (CBK) will next week be setting its benchmark lending rates to banks. Experts expect CBK to cut this rate in a move to encourage…full story


Shilling down to lowest level since October
The Standard, March 18, 2020 • March 18, 2020

The Shilling weakened to a five-month low yesterday as the coronavirus pandemic continued to ravage the country’s economy…full story


NSE falls further as shilling touches five-month low
Business Daily, March 17, 2020 • March 17, 2020

Large banks led by KCB , Equity Holdings, Cooperative Bank, Standard Chartered Bank and Absa all ceded ground…full story


Consumers should embrace sustainable consumption
The People Daily, March 16, 2020 • March 16, 2020

The United Nations Development Programme indicates that 1.3 billion tonnes of food goes to waste annually, while about two billion people go hungry or are under nourished. Ironically, another two billion people are overweight or obese…full story


Top Kenyan banks peg growth on mergers with small lenders
The East African, March 16, 2020 • March 16, 2020

Kenya’s banking sector is seeing an increase in takeovers of small banks by the big lenders…full story here and here


KCB further cuts Imperial Bank loans takeover to Sh3.5 billion
Business Daily, March 16, 2020 • March 16, 2020

KCB Group has further cut the portion of the loan book it intends to take over from the collapsed Imperial Bank to 3.5 billion in a final offer that is set to close soon…full story


Traders cautioned against price hikes following outbreak
The People Daily, March 16, 2020 • March 16, 2020

The Kenya Association of Manufactures has discouraged it members against increasing the prices of their products in the wake of covid-19 in kenya…full story


CMA mulls reduced audits for firms with strong scores
Business Daily, March 16, 2020 • March 16, 2020

Firms with a record of strong standing will be spared the annual governance audits in fresh Capital Markets Authority(CMA) guidelines that propose spacing of such checks by up to five years…full story


Mobile money deals drop on tough times
Daily Nation, March 16, 2020 • March 16, 2020

Use of mobile phones as a means of making payment dropped in January on the back of low circulation of cash in the economy…full story


NSE resumes tracing after Friday freeze
Business Daily, March 16, 2020 • March 16, 2020

Trading at the Nairobi bourse is ex­pected to resume after Friday halting after It opened on a free fall. The Nairobi Securities Exchange (NSE) in a statement on Friday announced the halting after it lost more than five percent forcing the closure in the afternoon…full story


Investors at NSE lose Sh232bn in paper wealth on coronavirus
The Star, March 16, 2020 • March 16, 2020

Investors at the Nairobi Securities Exchange (NSE) last week lost a whopping Sh232 billion in paper wealth after coronavirus triggered a panic sell…full story


Unclaimed assets now rise to sh16 billion
Business Daily, March 13, 2020 • March 13, 2020

Money lying idle in government custody rose by 23 percent in 2019 or Sh3 billion, most of it uncollected salaries, pension dues, matured policies, bank deposits and royalties…full story


Unaitas Sacco drops its bank dream on CBK licence freeze
Business Daily, March 13, 2020 • March 13, 2020

Unaitas Sacco has dropped bid to convert into a bank citing a Central Bank of Kenya moratorium order as well as the need to grow further…full story


Jamii Bora’s large depositors welcome acquisition by Co-op
The People Daily, March 13, 2020 • March 13, 2020

The announcement by Co-operative Bank that it intends to acquire 100 per cent of ]amii Bora Bank has come as a relief to large depositors in the third tier bank who were…full story


CBK support for mergers to boost banking sector
Business Daily, March 13, 2020 • March 13, 2020

The decision by the Central Bank of Kenya (CBK) to support mergers and acquisitions in banking is laudable given the much needed stability in the sector…full story


Advantages of renting a house
The Nairobian, March 13, 2020 • March 13, 2020

Renting also has its advantages in the wake of the reality that majority of Nairobians cannot afford to buy a house…full story


Turnover tax is more a business killer than tax evasion healer among SMEs
The Star, March 13, 2020 • March 13, 2020

Nobody likes paying tax. But taxes are a necessary part of the social contract between the government and the people…full story


Cushion economy against virus effects, Uhuru to response team
The People Daily, March 13, 2020 • March 13, 2020

President Uhuru Kenyatta has directed me National Emergency Response Com­mittee on Corona virus to make necessary review…full story


Yatani warns of Covid virus economic shock
The Star, March 13, 2020 • March 13, 2020

You must tighten your belt in anticipation of an increased cost of living due to the coronavirus outbreak that has been declared a global pandemic…full story  


How global crisis is shutting down Kenya’s economy
The Standard, March 13, 2020 • March 13, 2020

Coronavirus disease is now a clear and present danger to Kenya. The virus, which has since been declared a pandemic by the World Health Organisation…full story


‘Big Four Agenda’ legacy projects are at risk of missing deadlines
Daily Nation, March 13, 2020 • March 13, 2020

President Uhuru Kenyatta’s main legacy projects in his ‘Big Four Agenda’ – universal health coverage (UHC) , affordable housing, food…full story


Risks lurking in Kenya’s budget 2020 outlook
Business Daily, March 13, 2020 • March 13, 2020

This week Treasury Cabinet Secretary Ukur Yattani said the government has missed its annual revenue collection targets by accumulative Sh1 trillion over the past seven years…full story


Digital lenders to face probe
Daily Nation, March 12, 2020 • March 12, 2020

The operations of digital money lending institutions have come under scrutiny as Parliament launches an investigation into claims of exploitation…full story


Farming key to upper middle income status
Business Daily, March 12, 2020 • March 12, 2020

The alcohol industry poses anoth­er big opportunity for industrializing Kenya’s agriculture. Kenya has a big opportunity to grow sorghum for both local beer manufacturers and for the export market. Considering that the bulk of our un-utilised agricultural land is in semi-arid areas that are suitable for sorghum production, Kenya has a big comparative advantage in […]


Companies cut spending on ads
The Standard, March 12, 2020 • March 12, 2020

Advertising expenditure fell 19 per cent in January as companies cut spending following the end of the December festive season. A survey by Ipsos shows the spending on advertising dropped from Sh8.8 billion in December to Sh7.l billion in January…full story


How to make a strong brand statement
Business Daily, March 12, 2020 • March 12, 2020

The corporate vision statement is a declaration of aspiration that states where the organisation wasn’t to be in the future. The corporate vision provides direction for the team. The tight vision provides meaning and will stretch people to aspire to a superior standard of excellence…full story


Shilling strengthens on inflows from NGOs
The People Daily, March 12, 2020 • March 12, 2020

The shilling strengthened yesterday supported by dollar inflows from non-governmental organisations amid subdued buying activity from merchandise importers, traders said…full story


Genghis to offer pension products
Daily Nation, March 12, 2020 • March 12, 2020

Genghis Capital has entered the retirement benefits industry, diversifying its financial services…full story


Co-op in talks to acquire Jamii Bora
Daily Nation, March 12, 2020 • March 12, 2020

CBK welcomes the transaction, which will diversify the business models of the two institutions and enhance the stability of the Kenyan banking sector said CBK in a statement. The Nairobi Securities Exchange-listed Co-op commenced operations in 1965 and had the fourth highest market share (9.63 per cent) in the banking industry at the end of […]


Firms say China lockdown time to reclaim EA market
Business Daily, March 11, 2020 • March 11, 2020

A production slowdown in China presents a growth opportunity for Kenyan firms to reclaim their lost market share in the region, an umbrella private sector body has said…full story


Insurers keep off ‘locust cover’
The Star, March 11, 2020 • March 11, 2020

Insurers in Kenya are yet to put up policies that could cushion farmers over the losses garnered through locust invasion…full story


Digital lending apps seen slowing down the mobile banking revolution
Business Daily, March 11, 2020 • March 11, 2020

The digital loan apps are estimated to be more than 100, according to Financial Sector Deepening report released in November 2019 by FSD Kenya and Central Bank of Kenya. Top mobile banking platform M-Pesa continues to dominate digi­tal payments, holding a share at the digital credit space with a number of banks and non-bank lenders…full […]


Bill shielding loan guarantors from asset auction collapses
Business Daily, March 11, 2020 • March 11, 2020

A Bill that sought to compel creditors to seize assets of defaulting borrowers before touching a guarantor’s prop­erty has collapsed due to a quorum hitch in Parliament. The latest data from the Cen­tral Bank of Kenya (CBK) show default on personal loans have nearly doubled over the past three years to Sh52.3 billion…full story here and here


Kenya’s public debt surges 12,000pc in last two decades
The People Daily, March 11, 2020 • March 11, 2020

Kenya’s gross public debt has surged by a whopping 11 ,944.6 per cent over the last two decades having risen from Sh502.3 billion in December 1999 to the current Sh6. 5 trillion. This is on the back of increasing appetite for mega projects including infrastruc­ture development, dams, energy and health…full story


Markets activity to slow in 2020
The People Daily, March 11, 2020 • March 11, 2020

African capital markets’ lackluster performance is expected to continue in 2020 against the backdrop of a combination of regional and global uncertainties and weakening fundamentals, according to market watchers…full story  


Why middle class figures are misleading
The People Daily, March 11, 2020 • March 11, 2020

Economic experts are casting doubts on the narrative of a robust Kenyan middle class saying official data does not portray the true representation of the economic situation on the ground…full story


NSE gains Sh10bn as blue-chips rebound
Business Daily, March 11, 2020 • March 11, 2020

Increased demand for Safaricom and top bank stocks yesterday saw the Nairobi bourse gain Sh10 billion in market capitalisation, recovering some of the heavy losses recorded on Monday…full story


KCB completes buyout of National BanK owners
Business Daily, March 11, 2020 • March 11, 2020

KCB Group has completed the compulsory buyout of dissent­ing minority shareholders of National Bank of Kenya (NBK) after issuing 4.4 million of s shares currently worth Sh212 million to the holdouts…full story


Genghis rolls out two pension products
The People Daily, March 11, 2020 • March 11, 2020

Kenyan investment bank, Genghis Capital asset management arm, has announced its entry into the Retirement Benefits Industry with the launch of two offerings…full story


Kenyans richer but Tanzania home to more millionaires
Sunday Standard, March 9, 2020 • March 9, 2020

Kenya might be the largest economy in the region but Tanzania is Home to the most dollar millionaires. A new report shows the number of the super-rich in Tanzania far supersedes that of Kenya, which enjoys superior economic standards measured by gross domestic product (GDP)…full story


Africa’s stock markets at lowest level in ten years
The East African, March 9, 2020 • March 9, 2020

Activity on the African stock markets declined to its lowest in 10 years in 2019, largely due to the dete­riorating macroeconomic environment and political risks related to elections in both Nigeria and South Africa, a new report says…full story


Kenya attracted seven out of 10 key financial deals in East Africa
Sunday Standard, March 9, 2020 • March 9, 2020

Kenya attracted more than 70 per cent East Africa’s financial deals last year, cementing its position as the region’s investment hub. Corporate finance advisory firm I&M Burbidge Capital (IMBC) has found that last year, Kenya took up 78 out of all deals that the region attracted in the previous year…full story


Bank stock rally NSE benchmark
The People Daily, March 9, 2020 • March 9, 2020

Traders soaked up banking sector shares last week on expected release of financial sector earnings having witnessed heavy selling the previous week on move analysts had tied on the coronavirus scare. Expert more of this positive correction in the month of March as more banks release their annual financial reports, said a Cytonn Investments market […]


Low risk appetite suppresses women investment in stock markets
Business Daily, March 9, 2020 • March 9, 2020

The low number of women investing through the capital market has been attributed to a number of factors including low risk appetite for notoriously fickle equities market and probably lack of information…full story here and here


Bonds rise in February on NSE equities woes
Business Daily, March 9, 2020 • March 9, 2020

Bonds turnover at the Nairobi Securities Exchange (NSE) went up 28 percent in February com­ pared to January as investors looked for safety in government paper when turbulence hit eq­uity markets due to the negative effects of coronavirus outbreak. The stability in the yields is partly due to the rejection bids that the Central Bank […]


Why young people should be taught financial skills early
The Standard, March 9, 2020 • March 9, 2020

An article published by a local dally in July last year argued that most young employees entered the world force already weighed down by student loans on one hand, and financial Literacy on the other. This is why financial management skills is a crucial subject that young people need to learn as they prepare to […]


Zamara faces auction over debt
The Standard, March 9, 2020 • March 9, 2020

Pension fund Zamara Fanaka is facing the auctioneer’s hammer after a firm obtained court orders to attach its property over a Sh125 million debt row…full story


Absa commits to support SME growth with new funding lines
Business Daily, March 6, 2020 • March 9, 2020

Absa Bank Kenya has signaled its intention to shake up the banking market through its revamped SME proposition which offers up to Sh1O mil­lion unsecured loans to entrepreneurs. Under the new proposition, known as Wezesha Biashara, entrepreneurs can also access LPO financing of up to Sh12 million, unsecured invoice discounting of upto 50 million, according […]


Treasury seeks to stretch debt maturity with 20-year bond
Business Daily, March 6, 2020 • March 9, 2020

Treasury has again opted to issue a long-tenor bond in this month’s sale, looking to lengthen the maturity profile of domestic debt that has come down in recent years due to heavy uptake of short-term bills, according to CBK, that handles Treasury debt sales…full story


AG demands phones, homes of secret investors in firms
Business Daily, March 6, 2020 • March 9, 2020

The state Is now demanding de­ tails such as names. phone numbers and residential addresses of investors who own more than 10 percent stakes in companies through secret accounts…full story


NSE hits 16-year low as stocks plunge over coronavirus fears
Business Daily, March 6, 2020 • March 9, 2020

The Nairobi Securities Exchange (NSE) main index dropped to a 16-year low on Friday as foreign investors withdrew amid turmoil in global markets over the coronavirus outbreak and profit-tak­ing hit banking stocks…full story


Shilling under pressure in CBK dollar mop-up
Business Daily, March 6, 2020 • March 9, 2020

The shilling continued to experience depreciation on heightened dollar demand as the market reacted to plan by the Central Bank of Kenya to purchase dollars from market to bolster forex reserves…full story here and  here


Clients pull Sh75bn from Stanlib on ICEA buyout
Business Daily, March 6, 2020 • March 9, 2020

Clients of asset manager Stanlib Kenya have withdrawn Sh75 billion ahead of the buyout by rival ICEA Lion Asset Management…full story


IMF hints at Kenya getting new credit
Daily Nation, March 5, 2020 • March 9, 2020

The review was expected to see the country getting or being denied further access to the fa­cility, meaning Kenya will have to wait longer to get the fund. Central Bank Governor Pat­ rick Njoroge said at a briefing in January this year that Kenyan officials…full story


Local firms lose Sh5 billion to fraud
The Standard, March 5, 2020 • March 9, 2020

About 100 companies lost Sh5.5 billion to fraud in just two years according to a survey that is helping capture the cost of economic crimes on Kenyan firms…full story


499 Kenyans fall off the list of dollar millionaires
Business Daily, March 5, 2020 • March 9, 2020

An estimated 499 Kenyans dropped from the rank of dollar millionaires last year, highlighting how the impact of Kenya’s soft economy has hurt persons who each had a net worth of more than Sh 100 million…full story here and here


Shilling & weakens.
The Standard, March 5, 2020 • March 9, 2020

The shilling yesterday ceded ground against the dollar, trading at 102.3, a day after the Central Bank of Kenya (CBK) announced that It will plunge into the market to buy the greenback. On Tuesday, the local unit was exchanging at 101.37 against the greenback…full story


Women-led businesses in Kenya have bigger investment impact
Business Daily, March 4, 2020 • March 4, 2020

Women-led business­es in Kenya have a bigger investment impact, support­ing huge portions of household budgets, a survey by the World Bank shows and fuming the need for deeper special financ­ing for such enterprises…full story here and here


CBK taps $ 100m to reserves
The People Daily, March 4, 2020 • March 4, 2020

The value of the Kenyan shil­ling yesterday dropped by 0.88 per cent to 102. per dollar, the lowest level in three months – after Central bank of Kenya (CBK) announced that it would buy the US dollar to boost for foreign exchange reserves…full story


Shilling hit on CBK’s Sh40bn dollar buy plan
Business Daily, March 4, 2020 • March 4, 2020

The Central Bank of Kenya (CBK) is seeking to buy Sh40.5 billion ($400 million) from banks between this month and June to increase dollar reserves amid rising uncertainties in the global market over the coronavirus outbreak…full story


NSE boss allays fears about coronavirus effect on bourse
The People Daily, March 4, 2020 • March 4, 2020

The Naiobi Securities Exchange continues to grow investor wealth with key market indicators demonstrating heightened increase in the past two decades…full story


Stanbic rides on loans to post Sh6.3b in net profit
The People Daily, March 3, 2020 • March 3, 2020

Growth in customer loans and deposits has been cited for Stanbic Holding’s I 0.5 per cent rise in after-tax profit or Sh6.3 billion in 2019 compared to Sh5.7 billion reported in 20 1 8. According to the financial report, the group’s revenue grew by 12 per cent to h24.8 billion last year compared to Sh22.1 […]


Kenya’s economic crime, fraud among highest globally- PWC
The Star, March 3, 2020 • March 3, 2020

The economic crimes rate in Kenya is way above global and continen­tal averages. According to the latest Global Economic Crime and Fraud Survey by Pricewater house Coopers. The study shows that at least 75 percent of Kenyans have experienced one form of economic crime in the past two years…full story


China imports drop by Sh 58bn
Business Daily, March 3, 2020 • March 3, 2020

Kenya’s imports from China have plunged by Sh58.64 billion in the first two months of the year on the back of deadly coronavirus outbreak, signaling possible supply disruptions of household goods…full story


Taxpayers debt burden worries Treasury
Daily Nation, March 3, 2020 • March 3, 2020

The risk of taxpayers shouldering big Loans borrowed by parastatals is worrying the National Treasury after it was forced to foot Sh1.3 billion on behalf of three State corporations that were in distress in the Last financial year…full story


Uchumi limps on as creditors approve new rescue deal
The Standard, March 3, 2020 • March 3, 2020

An intense seven-hour meeting yes­terday breathed new life into Uchumi Supermarkets after creditors owed more than Sh5 billion voted for the sec­ond time to have the retailer’s debts restructured…full story


NSE reacts to disease ‘pull effect’
The People Daily, March 3, 2020 • March 3, 2020

Companies are more exposed to the epidemic because China is a major player in the global supply chain with many raw materials coming from the Asian giant. This trend has seen a drop in the prices of stocks across the globe with the Dow Jones in Wall Street dropping 4.4 per cent in a single […]


Impact investing could transform enterprise
Business Daily, March 3, 2020 • March 3, 2020

The business environ­ment for small and growing businesses (SGBs) and small and medium enterprises (SMEs) is faced with var­ious challenges, among them a struggle to access finances for growth and sustainability…full story


Economist says global rate cut is coming soon
Business Daily, March 3, 2020 • March 3, 2020

Investors battered by the breathtaking drop in global stock markets on coronavirus fears are ever more convinced the world’s big central banks, including the Federal Reserve, will soon step in…full story


Directors set for training to meet CMA board rules
Business Daily, March 3, 2020 • March 3, 2020

Directors and top managers are set to undergo training on new corporate governance rules from March 19 in line with regulatory requirements that demand a 12-hour annual teaching on the subject…full story


Struggling retailers burden on economy
The People Daily, March 3, 2020 • March 3, 2020

The collapse of the two main supermarkets­ Nakumatt and Uchumi- is symptomatic of the deeper woes in the formal retail sector. While it is easy to point fiJ1gers at poor manage­ment, the current fragile economic environment and lack of proper regulatory structure are at the heart of what now ails the sector…full story


Relief for Amana boss as fund investors stop liquidation bid
The Standard, March 3, 2020 • March 3, 2020

Class B would be the other 70 per cent, which would be used to build a business to find a way out of the Nakumatt mess, but which never happened. But because of Nakumatt redemp­tion in the other investments, we were taking out to pay redemptions which in hindsight we shouldn’t have done…full story


State enlists Interpol to dismantle corporate fraud network
Business Daily, March 2, 2020 • March 3, 2020

The State will share data with international security agencies to help track laundered cash and punish corporate chiefs from private firms, Interior cab­inet Secretary Fred Matiang’i has said…full story


Deep job cuts leave Sh2 billion hole in NSSF contributions
Business Daily, March 2, 2020 • March 3, 2020

Retrenchment of employees slowed down the National So­cial Security Fund (NSSF) pen­sion’s collection in the year to June 2018. The fund failed to collect Sh2 billion as result of firms either going under or shedding jobs…full story


Naivas gets nod for stake sale to French PE firm
Business Daily, March 2, 2020 • March 3, 2020

The Competition Authority of Kenya (CAK) has approved the acquisition of a minority stake in retail chain Naivas by French private equity fund Amethis Finance…full story


Kenya’ s exports to US hit five year high of Sh51.9bn
Business Daily, March 2, 2020 • March 3, 2020

Exports to the United States (US) last year grew at the fastest pace in five years tb hit a fresh high, making Washington the second biggest buyer of Kenyan goods after Uganda. Earnings from goods ordered by the world’s largest economy increased by Sh4.Sl billion, or 9.53 percent to stand at ShSl.85 billion, provisional…full story


NSE hits 16-year low as blue chip stocks plunge
Business Daily, March 2, 2020 • March 3, 2020

The Nairobi securities change (NSE) main index dropped to a 16-year low on Fri­ day as foreign investors with­ drew amid turmoil in global markets over the coronavirus outbreak and profit-taking hit banking stocks…full story


T-bills February uptake high on liquid market
Business Daily, March 2, 2020 • March 3, 2020

High market liquidity has raised demand for Treasury Bills, with investor bids outstripping the accepted amounts amid low redemptions, data from the Central Bank of Kenya shows…full story


Investors slough off Sh200b from NSE
The People Daily, March 2, 2020 • March 3, 2020

Investors on the Nairobi Securities Exchange (NSE) have shed nearly Sh200 bil­lion (8.4 per cent) off market capitalisation due to the decline in prices since January 1, 2020…full story  


Amana gets six months to find Sh255m
Standard on Saturday, March 2, 2020 • March 3, 2020

The Capital Markets Authority had earlier given Amana a lifeline, restraining investors from with­ drawing their funds for one month. Amana chairman Graham Shaw said that talks with a strategic investor who would inject the much needed capital were at an advanced stage…full story


Absa Kenya launches credit line for SMEs
Business Daily, February 28, 2020 • March 3, 2020

Absa Bank Kenya has launched a new credit line to boost Small Scale Enterprises (SME’s) to address concerns of increasing defaults on loans as a result of government failing to pay sup­ pliers on time…full story here and here


Risks coronavirus poses to struggling economy
The People Daily, February 28, 2020 • March 3, 2020

Experts say Kenya’s admission of 239 Chinese nationals from Guangzhou, a hotspot of the coronavirus pandemic, could spell gloom to the struggling econ­omy if there is an outbreak. Fears abound that should the killer vi­rus be detected in Kenya, it will spike far-reaching economic ramifications with the multi-billion-shilling tourism sector suffering the biggest casualty…full story


Plan or retirement on the day you are hired
Daily Nation, February 28, 2020 • March 3, 2020

Despite being one of the most important components f an individual’s financial plan, saving for retirement is mostly the least of one’s priorities or is not even considered at all…full stor


Sh3.4bn cash recovered from Imperial Bank CEO
Business Daily, February 28, 2020 • March 3, 2020

The Kenya Deposit Insurance Corpo­ration (KDIC) told the court that the accounts were opened using fictitious names under the direc­tion of Mr Janmohamed. who died in September 2015-just a month before the lender was placed under receivership…full story


Kenya hunts Nakumatt bosses for billions siphoned to Dubai
Daily Nation, February 28, 2020 • March 3, 2020

Directors of the collapsed Nakumatt Supermarkets that sank with billions of shillings in suppliers’ money are on the run, with Interpol in pursuit, after it emerged that the retailer siphoned out the cash…full story


KRA system yet to pick up three years down the line
Daily Nation, February 27, 2020 • February 27, 2020

Three years after the Integrated Customs Management System (iCMS) replaced the old Simba portal, traders are complaining that it has failed to improve services. Importers are now calling on the Kenya Revenue Authority (KRA) to suspend the system…full story


Helios puts Sh10bn in Acorn Holdings
Daily Nation, February 27, 2020 • February 27, 2020

Private equity firm Helios Investment Partners is investing up to $100 million (Sh10 billion) in property developer Acorn Holdings, which is building branded student hostels in Nairobi…full story


Private sector wants State to stop controlling agribusiness
The People Daily, February 27, 2020 • February 27, 2020

Private sector players want the government to stop doing business in the agriculture sector as the same contradicts the dynamics of a free market and contributes to low productivity and investments…full story


Rebranding lessons from Absa Kenya
Business Daily, February 27, 2020 • February 27, 2020

Last week Barclays Bank Kenya completed its name change to Absa, accompanied with lots of hoopla and colour. As top executives gathered and gave their remarks, several words repeatedly rolled off their tongues…full story


Economy key concern as curtail falls on SME Expo
Business Daily, February 27, 2020 • February 27, 2020

The slowdown in economic growth has emerged as a common de- nominator among key challenges faced by businesses. This was highlighted at the SMEs Conference and Expo that took place Nairobi. The two-day exhibition, convened by the Nation Media Group (NMG) and the Kenya National Chamber of Commerce and Industry (KNCCI), with more than 80 […]


Credit expansion ups outlook for real estate
The Standard, February 27, 2020 • February 27, 2020

According to a Central Bank of Kenya Bank Supervision Report, the net growth in commercial loans fell to eight per cent following the introduction of the rate cap in 2016, compared to the 96 per cent growth rate recorded in 2015…full story


Agency faults Kenya’s debt management
Daily Nation, February 27, 2020 • February 27, 2020

Kenya is among six countries that have contributed to the overall decline in sub-Saharan Africa’s (SSA) debt management since 2016, a new report by rating agency Moody’s says…full story


Investigator traces Sh3.4bn cash loot from Imperial Bank CEO
Ebru Africa, February 25 2020 • February 26, 2020

A forensic investigator has traced Sh3.4 billion in eight bank accounts linked to former Imperial Bank managing director Abdulmalek Janmohamed who is accused of being behind an elaborate fraud scheme that robbed the lender of Sh34 billion over a period of 13 years…video


Kenya’s economy is far from going to the dogs
The Standard, February 26, 2020 • February 26, 2020

The arguments that we are now in ruins are demonstrably false and quite glaringly so. Unless we want to say that the Treasury mandarins are so good at fixing numbers that they have the World Bank and Internation­al Monetary Fund fooled…full story


Kenya: The Sh10 trillion economy with 46 million poor people
The Standard, February 26, 2020 • February 26, 2020

This year, Kenya will join the club of economies valued at Sh10 trillion, cementing its position as the largest economy in the Eastern Africa region. It may be a feat wo1th some pat1iotic pride, but for the individual on the ground, the reality of this figure is difficult to grasp. After all, Kenya is home […]


Banks’ risk fear to curb credit growth
Business Daily, February 26, 2020 • February 26, 2020

The Treasury’s plan to expand the amount of domestic borrow­ing to finance the budget and high level of non-performing loans are likely to constrain growth of credit to the private sector even with a lower base rate, Standard Investment Bank (SIB) says…full story


Lessons from exports rise
Business Daily, February 26, 2020 • February 26, 2020

Latest Central Bank of Kenya data shows that the country’s ex­ ports to the East Afri­can Community (EAC) member countries were the highest in 2019 in six years. Kenya sold goods worth Sh120.43 billion to Uganda, Tanzania and Rwanda, an increase of nearly Sh11.01 billion, or 10.06 percent, in the January-December 2019 period…full story


Shilling seen trading in a tight range
The Standard, February 26, 2020 • February 26, 2020

The shilling was stable yesterday and traders said it was likely to stay in a tight range due to limited demand for dollars by importers…full story


KDIC to send debt collectors after clients of collapsed banks
Business Daily, February 26, 2020 • February 26, 2020

The- Kenya Deposit Insurance Corporation (KDIC) is looking for debt collectors to help it re­ cover outstanding money loaned by collapsed commercial banks…full story


Despite good returns private equity faces some challenges
Business Daily, February 26, 2020 • February 26, 2020

According to KPMG and EAVCA East Africa Private Equity Survey, over both 2017 and 2018, a total of190 PE deals, with an estimated value of over S h270 billion, were reported in East Africa. Kenya, being the most dominant economy in the region, has enjoyed over 55 per cent market share on value and volume […]


Taxman seeks Sh800 billion in five months
The Standard, February 25, 2020 • February 25, 2020

Treasury needs to raise over Sh800 billion in the next five months to meet its spending plan for the current financial year. This is after the Kenya Revenue Authority (KRA) raised Sh897 billion in the first seven…full story


Africa isn’t borrowing much but paying dearly for debt
The Standard, February 25, 2020 • February 25, 2020

There is renewed concern about the sustainability of rising debt levels in many African countries. Much of this debt is being incurred through foreign currency denominated Eurobonds issued on international financial markets…full story


Kenya’s export to EAC markets at six -year high
Daily Nation, February 25, 2020 • February 25, 2020

Kenya’s exports to top markets within the six-nation East African Community (EAC) bloc jumped to a six-year high in 2.019 on the back of easing trade tensions, provisional data shows. Earnings from goods sold to Uganda, Tanzania and Rwanda increased nearly Shn.01 billion, or 10.06 per cent in the January-December…full story


Acorn CEO reveals 30pc stake in property firm
Business Daily, February 25, 2020 • February 25, 2020

CEO Acorn Group, Edward Kirathe is the single largest individual investor in the property developer with a 30.24 percent stake…full story


Saccos fraud investigation unit to be set up next month
Business Daily, February 25, 2020 • February 25, 2020

The proposed Sacco Societies Fraud Investigation Unit (SSFU) will be operationalized next month to rein in on rogue saccos-officials…full story


Sh3.4bn cash recovered from Imperial Bank CEO
Business Daily, February 25, 2020 • February 25, 2020

The Imperial Bank founder’s cash was saved in four bank ac­counts, one each at I&M Bank and National Bank of Kenya, and two at Standard Chartered Bank. The Standard Chartered accounts were in foreign currency. Mr Shah and Mr Kaburu, de­spite revealing the scam to the Central Bank of Kenya (CBK), have not been spared […]


Kenya’s financial sector second most secretive in Africa -report
The Star, February 25, 2020 • February 25, 2020

Kenya’s financial sector is among the most secretive globally, according to a new report byTax Justice Network. The sector has been ranked the second most rigid in Africa after Algeria and among the top 30 in the world in the 2020 Financial Secrecy Index…full story


NSE investors lost Sh15b in paper wealth
The People Daily, February 25, 2020 • February 25, 2020

Willis Nalwenge of Kingdom Securities, largely influence investors’ perceptions in the equity markets. He said most insurance firms last year ex­perienced their own distinct issues such as change of man­agement. Britam also posted a Sh2.2 billion after tax loss for the year ended December 3 1 , 2018 following a hit on its equity in­ […]


Regulator moves to end corporate bond drought
The Standard, February 25, 2020 • February 25, 2020

The Capital Markets Authori­ty (CMA) is working with credit agencies to address the current ‘unrealistic pricing’ of govern­ment bonds that it says have crowded out corporate inves­tors. The regulator said it is working closely with other State entities including the National Treasury, Attorney General, Cen­tral Bank, and Kenya Deposit Insurance Corporation to review laws that […]


Natbank calls for extraordinary AGM
The People Daily, February 25, 2020 • February 25, 2020

NatBank Trustee and Investment Services Ltd is seeking to increase Amana Shilling Fund members’ contribution to enhance the fund’s liquidity. This will be discussed at an extraordinary general meeting (EGM) for unit-holders this Friday…full story


Sanlam to avoid corporate bonds over weak investor safeguards
Business Daily, February 22, 2020 • February 24, 2020

Sanlam Kenya has ruled out investing in corporate bonds…full story


Sanlam 2019 results show firm likely to swim out of troubled waters
The Standard, February 22, 2020 • February 24, 2020

Financial services firm Sanlam is near to realising the full effect of its costly turnaround strategy after the firm crawled back into profitability…full story


Why the reintroduced 3pc turnover tax may fail again
Business Daily, February 24, 2020 • February 24, 2020

Ideally, KRA should strategise on how it can willingly or unwillingly register key players in the informal sector such as mama mbogas, kiosks, barber shops, roadside food vendors among others, if they are to achieve any success in collec­tion of turnover taxes…full story


Digital lending is a double-edged sword for unsuspecting clientele
Mt Kenya Star, February 24, 2020 • February 24, 2020

With most digital micro-lenders riding on the mobile money services of Safaricom mpesa and Airtel money, a person receives the money instantaneously. Almost all the micro-lenders, save for their names, are anonymous to the Traditionally, if one wanted to borrow from a financial institution, you would fill in a form; provide details about yourself, source […]


Growing economy should translate into money in Kenyans’ pockets
The Standard, February 24, 2020 • February 24, 2020

There is a good reason for Kenyans to cele­brate. Our country has just overtaken Ethi­opia to become the region’s biggest economy again, according to the International Monetary Fund (IMF)…full story


Heavy taxes hamper SMEs growth
Business Daily, February 24, 2020 • February 24, 2020

Small businesses are the country’s single Biggest employer accounting or over 80 per­ cent of the jobs but starting and successfully running these entities remains a challenge as taxes and levies toll on the owners…full story


Fore deposits drop after demonetisation
Business Daily, February 24, 2020 • February 24, 2020

Foreign currency deposits held by commercial banks decline by Sh12.9 billion last November, the second month after Central Bank of Kenya’s (CBK) demonetisation drive ended…full story


Rates uncertainty hits bonds demand
Business Daily, February 24, 2020 • February 24, 2020

Investor appetite for short term securities remained high last week as Treasury bills saw a big oversubscription. CBK says it received bids worth Sh49.76 billion…full story


Investors smile all the way to the bank as lenders’ payout set to rise
The Star, February 24, 2020 • February 24, 2020

Local banks are poised to post im­proved earnings for the financial year ended December 31,2019, promis­ing decent returns to shareholders after modest performance in the previous financial year. Financial results to be announced in March will be a huge improve­ment compared to what lenders registered in 2018/19, according to CBK data…full story


We need to invest more in our ports to enable trade
The Standard, February 21, 2020 • February 21, 2020

Imagine a situation where Ken­ya Is trading with the whole world, producing world-class products and enriching Its citizens; consumers enjoying cheaper products, and exporters exploiting expanded opportunities…full story


Forex trading to rescue gambler and loan-app addicts
The Nairobian, February 21, 2020 • February 21, 2020

A forex trading firm in Mombasa has launched an ambitious program to equip youth in the area with forex trading skills…full story


Saccos cautioned on money laundering
Daily Nation, February 21, 2020 • February 21, 2020

Saccos across the country have been cautioned against being conduits of money laundering. Ministry of Industry, Trade and Cooperatives Commissioner, Geoffrey Njan’gombe, urged them to be careful and monitor the kind of money passing through their systems…full story


Curb funds wastage
Business Daily, February 21, 2020 • February 21, 2020

The Treasury should exhaust all avenues for wasteful recurrent expenses before cutting tile development budget…full story


Buying Bonds on Mobile Phones
Business Daily, February 21, 2020 • February 21, 2020

The Central Bank of Kenya (CBI<) has launched a service which allows investors to apply for and trade bonds using their mobile phones, a move that is seen as a major…full story


CBK forex reserves down Sh26 billion
Daily Nation, February 21, 2020 • February 21, 2020

Kenya’s forex reserves have dipped by an equivalent of Sh26.5 billlon since the beginning of the year to Sh858.52 billion. The reserves have fallen from a high of $8.94 billlon (5.59 months of import cover) recorded on October 24, according to Central Bank data…full story


Bank shares drop Sh31bn as investors sell off stock
Business Daily, February 21, 2020 • February 21, 2020

Owners of Bank shares have lost Sh31 billion over the past month as investors take profits from the rally that followed the removal of cap on commercial lending rates. High profile investors like the Kenyatta family, family of former Central Bank Governor Philip Ndegwa have shed millions over the past months…full story here and here


Budget cut plans: Why the Treasury faces uphill task
Business Daily, February 20, 2020 • February 20, 2020

National Treasury Cabinet Sec­retary Ukur Yatani has vowed to steadily bring down fiscal deficit shortfalls in government revenue compared with its spending which have stayed above six percent of gross domestic product (GDP) since the current administration took power…full story here and here


Cryptocurrencies gaining acceptance
Business Daily, February 20, 2020 • February 20, 2020

In Africa, Turlisia and Senegal issued a block- chain-based national currency, the eDinar and eCFA respectively. These digital currencies are being used along with the regular cur­rencies. Plans are under way to expand the eCFA to other West African states. Although the European Union is reluctant to issue a digital Euro and the US has […]


Exports have hit three-year low, – CBK data reveals
Business Daily, February 20, 2020 • February 20, 2020

Kenyan exports dropped to a three-year low on lower tea and coffee earnings, reflecting the pain of reduced cash flow in the country’s farming community…full story here and here


THE DATA: 101.08 The indicative value of the shilling to the dollar
The Star, February 20, 2020 • February 20, 2020

The Kenyan shilling was under pressure on Wednesday due to increased dollar demand from merchandise Importers and the energy sector, traders said…full story


Controller of Budget employees to wait longer for pensions
Business Daily, February 20, 2020 • February 20, 2020

Retiring workers of the Controller of Budget (CoB) in July will have to wait longer for their benefits due to budget constraints…full story


Property rich, but cash poor pension funds
The Standard, February 20, 2020 • February 20, 2020

The schemes are also selling at a time the property market is depressed and also dealing with a glut of buildings. Mr Rotich put on a brave face, saying they would always find a buyer as they were selling a ‘brand’ that would dictate the price…full story here and here


Absa enters asset management sector
Daily Nation, February 20, 2020 • February 20, 2020

Absa Kenya Limited, formerly Barclays Bank Kenya, has announced its entry into asset management business as part of the bank’s growth strategies and expansion of revenue streams…full story


Succession key to business continuity
The Star, February 19, 2020 • February 19, 2020

Timely succession planning can ensure the smooth transition of power and continued success of any organisation. But the biggest challenge today is time…full story


Carrefour risks CAK wrath over unfair supplier deals
Business Daily, February 19, 2020 • February 19, 2020

The competition watchdog has fined Carrefour and ordered the French retail giant to review all its supply agreements within 60 days after the supermarket chain was found to be exploiting traders who supply it with goods…full story here and here


Real estate sales grow on better access to credit
Business Daily, February 19, 2020 • February 19, 2020

A housing project in Nairobi. Improved Infrastructure has supported new ales of upcoming houses In Nairobi…full story


Improve market information system
Business Daily, February 19, 2020 • February 19, 2020

Unfortunately, in Kenya, most SMEs, most of the time, are in the dark on all such matters…full story


Broke Treasury targets Sh161bn Budget cuts
Business Daily, February 19, 2020 • February 19, 2020

A cash hitch has compelled the Treasury to announce further cuts in the allocation for devel­opment projects to plug a Sh161 billion Budget hole, a move that will hurt job creation and up­ grade of infrastructure projects…full story here and here


Private equity firm increases investment in Kenya’s real estate, construction sectors
The Star, February 19, 2020 • February 19, 2020

Private equity firm, Ascent Rift Valley is tapping into increased activity in the real estate and construction by increasing its investment presence in Kenya…full story


Public debt up Sh240bn in six months to December
Business Daily, February 19, 2020 • February 19, 2020

The government’s net domestic borrowing for the six months to December 2019 hit a fresh re­ cord on the back of fast-matur­ing debt and underperforming revenue receipts, official statis­tics showed this week…full story


Amana asks clients to delay access to funds by 6 months
Business Daily, February 19, 2020 • February 19, 2020

Asset manager Amana Capital is set to extend freeze on the withdrawal of funds by a fur­ther six months as the aftershocks of Nakumatt’s collapse weighs it down…full story


How technology can transform agriculture sector
The People Daily, February 18, 2020 • February 18, 2020

For instance, financial digital platforms such as KCB M-pesa, and M-Shwari have allowed financial in­clusivity for previously non-banked people. Further, market linkage digital platforms will allow an easier access to market. But for the platforms to take root, there is need to improve infrastruc­ture such as rural roads and electricity connectivity…full story


Central Bank and Treasury plan law to rein in digital lenders
Daily Nation, February 18, 2020 • February 18, 2020

Days after the Central Bank deputy boss made the revelation, more Kenyans have come out publicly, to tell of their harrowing experiences in the hands of digital lenders. Market leader M-Shwari, Kenya’s first saving and loans product introduced by Safaricom and Commercial Bank of Africa in 2012, charges facilitation fee of 7.5 per cent on […]


Financing public projects through PPP is viable
Business Daily, February 18, 2020 • February 18, 2020

Reports that the Nation­al Treasury is at last considering public private partnership (PPP) as an alternative model for financing flagship projects are encouraging…full story


Invest more in training risk management experts
The People Daily, February 18, 2020 • February 18, 2020

As risk management gains ground and importance, the institutions in Kenya should evolve by creating professionals to provide these services to the various sectors of the economy. These professionals will be important in the delivery of the risk advisory services…full story


Stop blame game and rescue debt-burdened countries, International lenders told
The Standard, February 18, 2020 • February 18, 2020

Economists want international lenders to help heavily indebted economies like Kenya to deal with their debt problems instead of trading accusations over the mess. The African Development Bank (AfDB) last week hit back at the World Bank over comments that it has saddled regional economies with loans at a time when Kenya is spending over […]


Securities are your best 2020 investment bet
Business Daily, February 18, 2020 • February 18, 2020

Coming from a year that offered mixed fortunes to investors, questions abound over the most prudent vehicle that will offer investors the best re­turns for 2020 – a year which, from the onset, projects a facade similar to last year’s…full story


Tanzania signs $1.46bn loan for standard gauge railway project
Business Daily, February 17, 2020 • February 17, 2020

Tanzania has signed a $1.46bn loan agreement with Standard Chartered Bank Tanzania to fund the construction of the Standard Gauge Railway…full story


Payments by cards increase 32 per cent
Daily Nation, February 17, 2020 • February 17, 2020

The use of cards for payments has defied the mobile onslaught to grow 32 per cent last year compared to 2018, new data from CBK shows…full story


KCB sees loan growth tripling to 15pc post rate cap repeal
Business Daily, February 17, 2020 • February 17, 2020

Kenya’s biggest lender by assets, KCB Group, expects its loan growth to triple to 15 per cent this year after the rate cap on lending rates was repealed by the Central Bank of Kenya…full story


Investors bid Sh47 billion in T-bill sales
Business Daily, February 17, 2020 • February 17, 2020

Treasury bill sale at the CBK was once again heavily over­ subscribed last week, benefit­ ting from high liquidity due to government payments to its de­partments and agencies. Central Bank of Kenya (CBK) data shows that investors put in bids worth Sh46.99 billion against the advertised Sh24 billion, with the regulator ac­cepting Sh30.15 billion…full story


Financial market players push for reforms to cut cost of loans
Business Daily, February 17, 2020 • February 17, 2020

Financial Sector players have called for credit information sharing reforms to improve loan pricing and transparency. CBK says there should be a stable and inclusive financial sector for economic development of a country…full story


Pension schemes raise equities allocation after market recovery
Business Daily, February 17, 2020 • February 17, 2020

Pension funds started shifting their investments back to equities in the last quarter of last year FRACTION following a recovery in the stock market, which outperformed all of allocation of Investments other investment classes in the equities tied to a recovery period following the removal of the rate cap on bank loan…full story


CMA freezes Amana Capital over liquidity constraints
Musyi FM, February 14 2020 • February 17, 2020

The Capital Markets Authority has issued a 28-day freeze on Nairobi-based fund manager Amana Capital to enable the firm to boost its liquidity…audio


WB survey: Kenya leads African peers in credit information sharing
The People Daily, February 14, 2020 • February 14, 2020

Kenya is ranked first in Africa as a regards sharing of credit information, a new survey by the World Bank shows…full story


Expert: Demonetisation slowed financial inflow
The People Daily, February 14, 2020 • February 14, 2020

The demonetisation process carried out in the country last year led to the reduction on the financial flows…full story


Shilling gains as tighter liquidity balances dollar demand
Business Daily, February 14, 2020 • February 14, 2020

On Wednesday, the market was experiencing excess liquidity, forcing CBK to mop up Sh15 billion through repurchase agreements where bids stood at Sh40.05 billion…full story


CMA freezes Amana Capital over liquidity constraints
Capital Business, February 13, 2020 • February 14, 2020

The move therefore means that unit holders will be unable to access their funds during the suspension period. However, the firm has convened a meeting with its investors, as required under the Trust Deed and Rules of the


CMA freezes Amana Capital over liquidity constraints
Capital FM, February 13 2020 • February 14, 2020

The Capital Markets Authority has issued a 28-day freeze on Nairobi-based fund manager Amana Capital to enable the firm to boost its liquidity…audio , audio    


Amana Capital given more time to improve liquidity
The Star, February 14, 2020 • February 14, 2020

Amana Capital Limited has been granted a 28-day grace period by the Capital Markets Authority to enable the asset manager get its affairs in order…full story  


CMA saves investment firm from jittery clients
The Standard, February 14, 2020 • February 14, 2020

The Capital Markets Authority (CMA) has thrown Amana Capital a life­ line, restraining investors from withdrawing their funds from the asset management firm for the next one month…full story


Amana clients’ funds freeze stays
Business Daily, February 14, 2020 • February 14, 2020

The Capital Markets Authority (CMA) has approved an application by fund manager Amana Capital to stop clients from withdrawing their cash for one month…full story here and here


Bank earnings up 5pc in 11 months to November
Daily Nation, February 13, 2020 • February 13, 2020

Central Bank of Kenya’s (CBK) November 2019 monthly eco­nomic indicators report put the 11 month’s earnings only Sh2 billion shy of the full year earnings for 2018 1 which were recorded at Sh152.3 billion…full story


Nigerian fintech targets Kenya SMEs for growth
Business Daily, February 13, 2020 • February 13, 2020

San Francisco and Lagos-based fintech start-up Flutterwave plans to grow its customer base in Kenya twofold and increase the volume of annual transactions by targeting Small and Medium Enterprises. Kenyans moved Sh4.35 trillion through their mobile phones last year, fresh data by the CBK shows, pointing to the growing significance of the digital marketplace…full story here


How tech may widen economic disparities
Business Daily, February 13, 2020 • February 13, 2020

As technology rapidly takes Centre stage in virtually all human activities, concerns rising over the widening digital divide in Kenya. A new report says if not addressed, this expanding digital discrepancy will have far-reaching implications on efforts to bridge glaring economic inequalities…full story


Transparency key in management of national debt
The People Daily, February 13, 2020 • February 13, 2020

Kenya has used loans to finance a number of projects that could have otherwise taken too long to imple­ment using our own revenue…full story


NSE bond turnover hits Sh11b
The People Daily, February 13, 2020 • February 13, 2020

Activities in the secondary bond market rose 55 per cent in the past week as investors shied away from long-term bonds. However, Central Bank of Kenya (CBK) rejected Sh24.2 billion, mostly in the 364-day tenor, of the aggressive bids inorder to ensure stability of in­terest rates…full story


IMF, WORLD BANK RUINED ECONOMY
The Star, February 13, 2020 • February 13, 2020

For it can be argued that the lack of economic progress during his presidency was not really Mai’s fault. And that the real problem was that Kenya’s economic policies during those years were dictated by the International Monetary Fund and the World Bank. That it is these institutions which got it badly wrong, especially in […]


Bill drives push for new taxes to kick in every July 1
Business Daily, February 12, 2020 • February 12, 2020

Companies and individuals will start paying new truces at the start of a financial year every July 1 if lawmakers adopt a pro­posed law that seeks an earlier approval of the Finance Bill to cure delays in collection of duty that has in the past hurt revenue collection targets…full story here and here


Agriculture: Opportunity and challenges
Daily Nation, February 12, 2020 • February 12, 2020

One of the most prominent State agricultural organisations, the National Cereals and Produce Board (NCPB), whose main mandate was to purchase surplus maize after harvest and store it for sale to millers or other traders when prices in major urban centres rose, became an avenue to rake in millions of shillings for the political elite…full […]


WB: How some banks worsen poor counties’ debt burdens
Business Daily, February 12, 2020 • February 12, 2020

World Bank President David Malpass on Monday chided other development banks for lending too quickly to heavily indebted countries, saying some were helping worsen already-challenging debt situations…full story


Find solution to erroneous cash transfers
Business Daily,            February 12, 2020 • February 12, 2020

Asset grabbing seems to be the season this 2020 as it turns out Safaricom has found a new take on property rights to justify confiscating your money if you happen to send it to the someone who has a debt to on his/her line. Whomever’s money is still their money even if its their M-Pesa […]


CBK rolls out mobile bonds platform with eye. on mass market
Business Daily, February 12, 2020 • February 12, 2020

The Central Bank of Kenya (CBK) has rolled out mobile platform through which retail investors will be able to apply for and trade Treasury bills and bonds…full story


In the absence of lending caps….
Business Daily, February 12, 2020 • February 12, 2020

In the absence of lending caps, we expect monetary policy to be more effective. In 2020, we expect at least two monetary policy rate cuts…full story


NSE investors lose Sh51 b in paper wealth since January
The People Daily, February 12, 2020 • February 12, 2020

Nairobi Securities Exchange-listed firms caused investors a combined paper loss of Sh51.49 billion between January and February 10, in what market analysts attribute to a harsh business environment. Statistics indicate that in January­ market capitalisation was Sh2.611.46 trillion compared to Sh2.56 trillion on February 10, indicating slow economic performance…full story


Some funds shrinks and issues co-operative bonds.
Radio Waumini, February 11 2020 • February 12, 2020

Chase Bank , Imperial Banks ,Athi River Mining and Nakumatt are some of the funds that have shrunk and issued co-operative bonds…audio


How we can spur economic growth
Business Daily, February 10, 2020 • February 10, 2020

I was recently in a network­ing forum where a partici­pant asked how we can fix our economy. The question is dominant on the minds of many running businesses in this country. Revitalising our economy need not be a long and complicated task, it is quite easily achievable if we prioritise lowering the cost of doing […]


How investors are pouring cash into lucrative digital loan firms
The Standard, February 10, 2020 • February 10, 2020

Three out of every 10 shillings that investors put in Ken­yan startups last year were in mobile lending firms, a new report shows. Mobile lending has been in existence for less than a dec­ade but the industry is grow­ing rapidly and proven attractive to investors due to higher returns…full story


Study roots for inflation-adjusted safety net cash
Business Daily, February 10, 2020 • February 10, 2020

The cash payout to vulnerable groups could be adjusted for annual inflation if the State implemented the recommendation of a new study. The study, funded by World Food Programme (WFP) and Unicef, notes that the impact of Kenya’s cash transfer programmes have been minimal · due to inflation, coupled by barriers in design and delivery…full […]


Kenya rises in investment list on economic diversity
Business Daily, February 10, 2020 • February 10, 2020

Kenya climbed up to position four last year among the most attractive countries to invest in the continent, according to a survey by a South African-based bank…full story


Tears as five firms go under with billions of bond investors’ money
Sunday Standard, February 9, 2020 • February 10, 2020

‘They will walk home with zero. They have lost every­ thing.’ These dreadful words were uttered last month by Peter Kahi, the court-appointed administrator of Nakumatt about investors who had taken up the supermarket’s commer­cial debt papers or corporate bond. Thus, he says, renewed confi­dence in the overall corporate bond market can’t be measured by […]


Genesis of banking sector turmoil
Business Daily, February 7, 2020 • February 7, 2020

From the archives, I saw an April 1993 letter by former Treasury per­manent secretary Wilfred Koinange to then executive chairman of the bank, Mr Wanjohi Mureithi, inform­ing him that he had instructed the Central Bank of Kenya to release Sh2 billion to the bank…full story


Survey: Private sector growth slows down
Business Daily, February 7, 2020 • February 7, 2020

Kenya’s private sector activity fell for the first time in nine months to January, largely due to weak consumer demand, the findings of a monthly survey showed yesterday…full story


CMA to regulate sale of coffee in war on cartels
Business Daily, February 7, 2020 • February 7, 2020

Coffee trading will now be regulat­ed by the Capital Markets Authority (CMA) as the Treasury moves to tame cartels. who have been blamed for di­minishing earnings by farmers…full story


Economic outlook dim
Daily Nation, February 7, 2020 • February 7, 2020

From left: NCBA Group MD, John Gachora, National Treasury and Planning CAS, Nelson Gaichuhie, and NCBA Group director, corporate development and regional business, Jeremy Mbuvi, during the launch of the NCBA Economic Outlook Report 2020 at Radisson Blu Hotel in Nairobi yesterday. NCBA economists project a 5.7 per cent growth in 2020, slightly lower than […]


CBK reserves fall by Sh26bn in January
Business Daily, February 7, 2020 • February 7, 2020

Official foreign exchange re­serves held by the Central Bank of Kenya (CBK declined by about Sh26 billion ($258 million) or. about three per cent in January, new data shows…full story


Central Bank under pressure to weaken the shilling, boost trade
The People Daily, February 7, 2020 • February 7, 2020

Economy experts have petitioned the Central Bank of Kenya (CBK) to devalue the shilling to boost the country’s exports, especially in the manufacturing industry. This comes after it emerged that Kenya’s exports have been dwindling in the past mainly due to the stronger currency. They argue that a weaker shilling would boost export trade…full story


Why securities is the best investment option in 2020
The People Daily, February 7, 2020 • February 7, 2020

Coming from a year that offered mixed fortunes to investors, questions abound over the most prudent vehicle that will offer investors the best returns in 2020In the industrials and manufacturing space, EABL and KenGen, which in the last two years have invested significantly in capacity additions, show promise with revenue contribution…full story


High debt weakens investment outlook, bank warns
The Standard, February 7, 2020 • February 7, 2020

Kenya’s debt burden might weaken the government’s response to shocks, NCBA Group Managing Director John Gachora has warned…full story


I&M Rwanda pursues ex-Nakumatt CEO
Business Daily, February 7, 2020 • February 7, 2020

A Nairobi High Court judge has al­lowed l&M Bank Rwanda Limited to recover close to S100 million from former Nakumatt chief executive officer Atulkumar Maganlal Shah, signaling more trouble for the fallen giant supermarket chain…full story


Treasury to audit firms in tax exemptions probe
Business Daily, February 6, 2020 • February 6, 2020

The Treasury has announced that the tax exemptions it has given companies and individuals in past years will now be audited as the government moves to seal revenue leakages amid growing spending pressures and suspicions that some of the beneficiaries could have abused the system…full story here and here


Private sector growth slows down
Business Daily, February 6, 2 • February 6, 2020

Kenya’s private sector activity fell for the first time in nine months to January, largely due to weak consumer demand, the findings of a monthly sur­vey showed yesterday, point­ ing to poor cash flow in the country…full story here and here  


Pension funds’ returns rebound on equities gain
Business Daily, February 6, 2020 • February 6, 2020

Returns on pension funds re­bounded in 2019, largely lifted by earnings from the stock mar­ket and cash invested in foreign countries, outperforming over­all inflation…full story


THE DATA: 100.35 The indicative value of the shilling to the dollar
The Star, February 6, 2020 • February 6, 2020

The shilling strengthened on Wednesday due to inflows from remittances and offshore investors buying government debt exceeding dollar demand from importers…full story


Under Moi regime, the economy took a beating
The People Daily, February 5, 2020 • February 5, 2020

Retired President Moi passed on yesterday, leaving a mixed legacy. His management of the economy was characterised by 24 years of per­petual turmoil and disruption. The economy hardly found a rhythm that would have enabled it to fire from all cylinders. Ultimately, for Moi, poli­tics stumped all economic prudence…full story


Big battles with donors to save weak economy
The Standard, February 5, 2020 • February 5, 2020

In 1993, months after the gen­eral election, Kenya’s inflation figures had hit a record high of 50 per cent and the government was going bust. The Gross Domestic Product (GDP) had stagnated for three years and agriculture – the country’s economic mainstay – had shrunk to an annual growth rate of 3.9 per cent. Miccah […]


The indicative value of the shilling to the dollar
The Star|February 5, 2020 • February 5, 2020

The Kenyan shilling was stable on Tuesday supported by inflows from offshore investors buying government debt amid subsiding dollar demand from the energy and manufacturing sector…full story


NSE bonds turnover doubles to Sh37bn
Business Daily|February 5, 2020 • February 5, 2020

Monthly bond turnover at the (NSE) doubled to Sh37.l billion in January on higher liquidity, marking a recovery from December when activity dipped to a low of more than 24 months…full story


CBK tipped to cut base lending rate again
Daily Nation|February 5, 2020 • February 5, 2020

The Central Bank of Kenya is likely to make a further cut of at least 25 basis points in the base lending rate next month to stimulate growth amid looming fiscal consolidation and benign core inflation…full story


Cash crunch in tough year blamed for fall in house prices
The Standard, February 4, 2020 • February 4, 2020

A tightening of disposable income among potential home buyers led to a decline in house prices in the last quarter of last year, according to the new report by Kenya Bankers Association…full story


What we must do to attract investments from the Arab world
The Standard, February 4, 2020 • February 4, 2020

On our part, we need to speed up our projects and remove bureaucratic road bumps. Political legacies are defined not by the scope and breadth of the vision articulated in fancy policy documents but by projects achieved and delivered. In case Kenya’s ambassadors abroad are reading this column, please do us a favour and invite […]


CMA to regulate sale of coffee
Business Daily, February 4, 2020 • February 4, 2020

Crop husbandry has worsened in Kenya with estimates by Coffee Directorate showing that farmers routinely harvest two kilogrammes of berries from a coffee tree against tl1e recommended standard of IO kilogrammes or more…full story here and here


Exchange records positive foreign inflows as equities appetite grows
Daily Nation, February 4, 2020 • February 4, 2020

The Nairobi Securities Ex­change (NS E) had net positive foreign flows last month compared to negative flows in the same month in the past two years even at a time its turnover was down…full story


NSE foreign inflows rise on Kenyan equities appetite
Business Daily, February 4, 2020 • February 4, 2020

The Nairobi Securities Exchange had net positive foreign flows last months compared to negative flows in similar months in the past two years even at a time its turnover was down…full story


Confusing fiscal policies worry Kenya investors
Business Daily, February 4, 2020 • February 4, 2020

The investment bank has pro­jected real GDP growth rate of5.7 percent in 2020, while the CBK set this at 6.2 percent, driven by service industry which account for 45 percent of the GDP and after years of steady growth. However, escalated political noise around the BBI constitutional reforms and a possible referendum is expected to […]


CMA tips Treasury on use of sovereign green bond income
The People Daily, February 4, 2020 • February 4, 2020

Capital Markets Authority (CMA) wants National Treasury to screen and identify the pipeline of projects it intends to fund with the first sovereign green bond, which it plans to issue next month. Speaking during the launch of 13th edition of the Capital Markets Soundness Report (CMSR), Luke Ombara, Director, Regulatory Policy and Strategy at CMA, […]


CBK to step up checks on bank lending charges
Business Daily, January 31, 2020 • January 31, 2020

Central Bank of Kenya (CBK) Governor Patrick Njoroge has said the regulator will enforce strict controls to ensure that banks avoid predatory lending, at a time when most lenders are still reluctant to extend credit to the pri­vate sector despite the removal of ·legal caps on cost of borrowing…full story


Failed banks hold Sh13bn in customers’ cash – IMF
Business Daily, January 31, 2020 • January 31, 2020

Customer deposits worth Sh13.7 billion are still held up in Moi-era banks that went bust up to three decades, a new International Monetary Fund (IMF) report has shown underscoring the high cost of liquidating banks and selling off assets to settle liabilities. Kenya Deposit insurance Corporation provided the CBK with a trial balance data for […]


Forex trading scam victims protest delay
Daily Nation, January 31, 2020 • January 31, 2020

A group of forex traders caused a stir at the Milimani Law Courts over the delayed trial of a businessman Manases Karanja…full story


Digital money lenders accused of breaching data privacy law
The Star, January 31, 2020 • January 31, 2020

Mobile money customer have complained over hostile treatment during debt recovery by digital lenders according to a report by customer experience firm…full story


IMF asks Central Bank to include Saccos in monetary data
The People Daily, January 31, 2020 • January 31, 2020

Central Bank of Kenya (CBK) has been asked to include deposit-taking Saccos and microfi­nance banks (MFBs) in its monetary data to enrich it…full story


IMF reveals Sh153m asset base of non -deposit sacco
Business Daily, January 31, 2020 • January 31, 2020

there are more than 2,286 non-deposit taking saccos operating in Kenya , holding in ex­cess ofShl53.2 billion in assets…full story


Savings societies key in national development
The Standard, January 31, 2020 • January 31, 2020

A cooperative society JS established by its members who are driven by e need to do business together and are the ie. The benefits from economies of sc members voluntarily come together to solve their economic, social and cultural needs through a democratically controlled enterprise…full story


Forget the wage bill, address our tax gobbing Executive
Business Daily, January 31, 2020 • January 31, 2020

Given this mixed grill of BBI ideas and Big 4 solutions, what’s cooking, and for whom…full story


Banks face bad loans mess as property market slows down
The People Daily|January 30, 2020 • January 30, 2020

Desperate commercial banks, keen to offload bad loans are finding it difficult to dispose of distressed assets in the auction market due to glut in the real estate sector amid a sluggish economy…full story


Survey reveals the most expensive bank accounts
Business Daily|January 30, 2020 • January 30, 2020

The survey lists Barclays ‘ultimate account’ as the sec­ond most expensive to main­tain at Sh14,558, followed by NIC Bank’s ‘move pay as you go’ (Sh13,393) and Stanbic’s ‘smart’ (SW2,312) and ‘sil­ver pay as you go’ accounts (Sh11,676)…full story here and here


Varsity pension sues Stanlib over Sh120m bond investments
Business Daily|January 30, 2020 • January 30, 2020

Moi University Pension Scheme has filed a suit seeking to compel Stanlib Kenya to deposit Sh120 million in court, accusing the investment manager of misad­vising it to invest the amount in two banks that later collapsed…full story


Food inflation rises to a 27-month high
Business Daily, January 30, 2020 • January 30, 2020

Food inflation has risen to a 27-month high, straining house­ hold budgets amid stagnant wages and job losses in economy. Data from Central Bank of Kenya (CBK) shows that food inflation stood at 9.3 percent in December, up from 8.9 per cent in November…full story


Central Bank Cryptocurrencies
The Star, January 30, 2020 • January 30, 2020

Seemingly in recognition of the adage, ‘If you can’t beat them, join them’, central banks including the Central Bank of Kenya have shifted their policy from the opposition of digital currencies to the adoption of the same into mainstream monetary systems…full story


CBk to step up checks on bank lending charges
Business Daily, January 29, 2020 • January 29, 2020

Central Bank of Kenya (CBK) Governor Patrick Njoroge has said the regulator will enforce strict controls to ensure that banks avoid predatory lending, at a time when most lenders are still reluctant to extend credit to the private sector despite the removal of legal caps on cost of borrowing…full story here and here


How economy can benefit in quest to boost cash circulation
Business Daily, January 29, 2020 • January 29, 2020

At the heart of the problem is a drop in cash circulation to its lowest point since 2015, greatly reducing the aggregate demand for goods and services. The traditional cure for such a problem would have been found in lowering the benchmark interest rates by the central bank. However, the traditional cure for such a […]


Banks yet to adjust loan rates two months after CBK move
Daily Nation, January 29, 2020 • January 29, 2020

A majority of banks are yet to adjust loan rates, nearly two months after the Central Bank Rate (CBR) was reduced from nine to 8.5 per cent…full story


Economy to grow by 6.2pc this year; Central Bank says
The People Daily, January 29, 2020 • January 29, 2020

Kenya’s economy is expected to grow by 6.2 per cent in 2020 up from 5. 7 per cent in 2019 mainly due to a recovery in agriculture, robust private-sector credit growth and improved performance of micro, small and medium enterprises (MSMEs). Central Bank of Kenya (CBK) Gover­nor Patrick Njoroge said the economy in 2019 was […]


Investors at NSE reap Sh350 billion paper wealth on economic stability
The Star, January 29, 2020 • January 29, 2020

Investors at the NSE gained Sh350 billion in paper wealth in the fourth quarter of 2019 compared to a similar period the previous year signalling a 15.9 per cent growth. Barclays Bank which is transitioning to ABSA, became sixth single stock future to be listed at the NSE’s derivatives market after Safaricom, KCB, Equity Bank […]


Nakumatt suppliers seek Sh2 billion VAT refunds
Business Daily, January 29, 2020 • January 29, 2020

Suppliers of collapsed Nakumatt Holdings are seeking more that Sh2 billion in value added tax refunds, a claim arising from the retailers’ default to tune of Sh18.5 billion…full story


Half-year tax revenues hit Sh779bn after crackdown
Business Daily, January 28, 2020 • January 28, 2020

Half-year tax collections rose by 14.5 per cent in the six months to December 2019, the fastest pace in five years, pointing to a gradual rebound in business pe1iormance on the back of fresh taxation measures…full story


Guinea protests cripple economy as deaths hit 26
Daily Nation, January 28, 2020 • January 28, 2020

Guinea’s economy is crumbling after months of mass rallies sparked by fears of a third term for President Alpha Conde, with analysts now even worried about the mighty mining sector…full story


Bank seeks to wind up EA Cable on loan
Daily Nation, January 28, 2020 • January 28, 2020

BY OTlATO GUGUYU SBM Bank has filed a petition to liquidate East African (EA) Cables after the company defaulted on a Sh285 million loan. The legal action has been taken under the Insolvency Act 2015 which provides directions for re­ solving companies unable to pay their obligations…full story


CBK cuts base lending rate to 8.25 per cent on economic stability
The Star, January 28, 2020 • January 28, 2020

The Monetary Pol­icy Committee has lowered the base lending rate to 8.25 per cent from 8.5 per cent in its first sitting this year, as banks move to adjust to the post rate cap regime…full story


Nakumatt paid PKF Sh30 million admin fees
Business Daily, January 28, 2020 • January 28, 2020

Nakumatt Holdings’ administrator, PKF Kenya, has earned Sh30.7 million for managing retailer since its appointment January 22, 2018…full story


Treasury nets Sh64bn in reopened five, 10-year bond sale
Business Daily|January 27, 2020 • January 28, 2020

The Treasury netted Sh63.75 billion in this month’s bond sale that dosed last Tuesday , significantly closing the domestic borrowing target at a time when revenue performance remains behind the target…full story


Afreximbank shareholders invest Sh50b in new equity
The People Daily|January 27, 2020 • January 28, 2020

The African Export-Import Bank (Afrexim) issued new shares worth Sh50 billion to existing shareholders last year, the bank as announced…full story  


Why experts expect Central Bank to retain lending rate at 8.5pc
The People Daily|January 27, 2020 • January 28, 2020

CBK is expected to retain the Central Bank Rate at 8.5 pc during it monetary policy committee meeting set for today, analyst have said…full story  


Central bank monetary policy team meets
Business Daily, January 27, 2020     • January 28, 2020

Central Bank of Kenya’s Monetary Polley Committee CMPC) is meeting today to discuss among other things the benchmark rate that determines commercial bank lending rates…full story


Statistics agency posts January Inflation figures
Business Daily, January 27, 2020 • January 28, 2020

The cost of living measure will be released today at a time inflation has been increasing over the past four months to 5.82 percent driven by high cost of food…full story


Treasury struggles to get T·bill buyers
The Standard, January 23, 2020 • January 23, 2020

The government has found itself with less cash to spend on critical items such as drugs after it was forced to offset some maturing short-term debt using taxes…full story


Kenya, IMF clash on reforms pushing debt past Sh9trn ceiling
Business Daily, January 23, 2020 • January 23, 2020

A push by the International Monetary Fund to recognize government guarantees and parastatal debts as part of Kenya’s loans will raise debt by Sh3.4 trillion, crashing through the recent Sh9 trillion ceiling endorsed by Parliament The CBK rebuffed the Bretton Woods body with a study that indi­cated the shilling was undervalued…full story here and here


Improve global value chain to drive up economic growth, World Bank says
The Star, January 23, 2020 • January 23, 2020

Kenya has a tremendous opportunity for economic growth through trade In the global value chain, a senior economist at World Bank has said…full story


CEO’s pessimistic about 2020 global economic growth -study
The Star, January 23, 2020     • January 23, 2020

World business leaders predict a decline in the 2020 economic growth but those from East Africa expressed optimism of good tidings…full story


PE firms Fanisi, Ascent eye bigger deals with merger
Business Daily, January 23, 2020        • January 23, 2020

   East Africa-focused private equity firms Fanisi Capital and Ascent Capital are set to merge and raise funds for bigger deals in the region…full story


Banks top at the NSE on rally of their stock
Daily Nation, January 23, 2020 • January 23, 2020

Kenya Airways and Bamburi Cement have dropped out of the list of top 10 largest firms by market cap, which is still led by Safaricom at Sh1.28 trillion…full story


CMA defends move in legal battle over Cytonn’s trustee
Business Daily, January 23, 2020 • January 23, 2020

The Capital Markets Authority (CMA) has defended its move to bar Cytonn Asset Managers from taking new clients, arguing it took the drastic step to protect investors from potential risks…full story


State pension reforms must be done swiftly
Business Daily, January 23, 20 • January 23, 2020

Pension funding has been one of the main fiscal exposures for governments world­ wide with Kenya being no exception. It will be recalled that countries like Greece have landed in economic meltdown, thanks in large part tor this kind of Liability…full story


Civil servants to pay for pension from May in bid to cut wage bill
Daily Nation, January 22, 2020 • January 22, 2020

More than 70,000 civil servants will start contributing towards their retirement benefits in May, boosting government efforts to tame the rising wage · in a period of depressed revenue collections…full story


Cytonn launches home buying plan
Daily Nation, January 22, 2020 • January 22, 2020

Cytonn Investments has launched a new savings plan for buyers seeking to acquire affordable houses in the country…full story


End tax unpredictability
Business Daily, January 22, 2020     • January 22, 2020

Manufacturers have been complaining over unplanned tax changes by the gov­ernment, which have forced some of them to close shop in Kenya, only to set up operations in other countries in the region…full story


MF warns of Kenya’s pensions time bomb
Business Daily, January 22, 2020 • January 22, 2020

The International Monetary Fund (IMF) has warned of a ticking time bomb in Kenya’s pension sector as the gap be­ tween retirement dues and actual savings continues to grower wider…full story here and  here


WB calls for deepening of global value chains
The People Daily, January 22, 2020 • January 22, 2020

Kenya has been advised to deepen its trade relations with other regional economies to benefit from the Global Value Chain (GVC) in raising its econom­ic growth, creating jobs and reducing the level of poverty…full story


Genghis Capital predicts better NSE outcome in 2020
The Star, January 22, 2020 • January 22, 2020

Investment Bank bank, Genghis Capital has predicted a bull run at the Nairobi Securities Exchange (NSE) this year, Kenya’s mixed economic fortunes notwithstanding. In a report titled ‘Harnessing Value’, analysts at the Investment firm say the return of foreign Investors to the NSE In 2019 after two years of massive outflow, Indicates rising Interest In […]


IMF slashes 2020 global growth forecast on growing uncertainty
The Star, January 22, 2020 • January 22, 2020

Although the global economic slowdown is easing, recovery will be sluggish going into 2020, the In­ternational Monetary Fund has said…full story


NBK grows profits after KCB takeover
The Star|November 4, 2019 • November 4, 2019

National Bank of Kenya has announced Sh407.15 million in after-tax for the three months ending September 30…full story


Schools embrace digital technology for safety
Daily Nation|November 4, 2019 • November 4, 2019

Schools have continued to embrace digital technology by installing CCTV cameras within their compounds, while others have adopted cashless transactions through student prepaid cards…full story


Get ‘jua kali’ sector back on track to increase job opportunities
Mt Kenya Star|November 4, 2019 • November 4, 2019

With the end of national examinations by the end of November, all schools will close for the December holidays…full story  


World Bank casts doubt on KRA’s quest for Sh1.8trn
Business Daily|November 4, 2019 • November 4, 2019

Last year Eight NSE listed firms spent Sh2.7 billion to lay off nearly 1,600 workers among the company includes Barclays Bank, StanChart, Britam…full story


How banks cheat on interest caps
Daily Nation|November 4, 2019 • November 4, 2019

Commercial banks are exploiting loopholes in the rates cap law to continue charging interests above the stipulated rate even as they push for it to be repealed…full story


How banks take advantage of law to charge exorbitant interest rates
Daily Nation|November 4, 2019 • November 4, 2019

Commercial banks are exploiting loopholes in the rates cap law to continue charging interest above the stipulated 14 per cent even as they push for it to be repealed…full story  


State should ensure borrowers are not fleeced in rate cap removal
The Star|November 4, 2019 • November 4, 2019

World Bank’s projects consultant has expressed fears that the interest rate caps’ removal which President Uhuru Kenyatta wants might hurt citizens if proper measures are not put in place…full story


Who is a loan guarantor?
Mt Kenya Star|November 4, 2019 • November 4, 2019

Among the requirements for loan approval, security provision form one of the critical requirements. security creates some degree of comfort to any financial institution that the credit advancement is safe…full story


Rotich: The man who messed up Kenya’s economy
The Standard|November 4, 2019 • November 4, 2019

In just six years, he borrowed more than his14 predecessors combined, signing off on loans that acting CS Yatani now says could crash the country…full story here and here


NSSF has set goals to serve Kenyans much better
Daily Nation|November 1, 2019 • November 1, 2019

The third Corporate Strategic Plan is the foremost policy blueprint which will guide the Fund’s implementation of its corporate strategic objectives…full story


Why mortgage insurance is a major priority
Business Daily|November 1, 2019 • November 1, 2019

Distress in the homes market has brought into sharp focus the insurance cover that was supposed to protect home owners over the unforeseen dangers…full story


Skyrocketing public debt, rate cap law strangles real estate
The People Daily|November 1, 2019 • November 1, 2019

Real estate stakeholders attribute the current stagnation of the building and construction sector to lack of liquidity in the money markets and the ballooning public debt…full story


Red flag raised over Sh1.2 tm loan deadline
Business Daily|November 1, 2019 • November 1, 2019

Taxpayers will require Sh1.2 trillion over the next one year to settle nearly half of the public domestic debt…full story  


Inflation spikes on cost of unga
The Standard|November 1, 2019 • November 1, 2019

A sustained high cost of food items has pushed up the cost of living for Kenyans…full story


Job cuts force Treasury to up borrowing
Business Daily|November 1, 2019 • November 1, 2019

The Treasury has opted to borrow more after an August audit revealed that the Kenya Revenue Authority (KRA) will miss its targets in a business environment plagued by job cuts and reduced corporate profits…full story here and here


Bank shares rise on rate cap hopes
The Standard|November 1, 2019 • November 1, 2019

Kenyan bank shares rose in early trading yesterday, Definitive data showed, extending their gains for a second day…full story


CBK boss faults economic growth amid job cuts
Business Daily|November 1, 2019 • November 1, 2019

The Central Bank of Kenya (CBK) has faulted the structure of Kenya’s economy for delivering economic growth without creating jobs or an increase in incomes…full story


Reality hits home as Treasury cuts growth forecast by Sh400b
The Standard|November 1, 2019 • November 1, 2019

Stormy environment has led to fewer workers and lower production, reducing tax earnings…full story


Kenya’s economy to grow at a faster pace next year – WB
The Star|November 1, 2019 • November 1, 2019

Kenya’s economy is likely to expand by 6.0% next year, rising from projected growth of 5.8% this year, due to a favourable weather outlook, the World Bank said on Thursday…full story


NSE nears 13-month high on banking stocks surge
Business Daily|November 1, 2019 • November 1, 2019

Investors at the stock market have wiped out losses suffered over the last one year as share valuation rose to over 12-month highs…full story


NSE firms risk hostile buyout and delisting
Business Daily|November 1, 2019 • November 1, 2019

At least 20 or a third of the companies listed on the Nairobi Securities Exchange (NSE) risk forceful takeover by their majority shareholders…full story


New bill to legalise lifestyle audit
The Star|October 31, 2019 • October 31, 2019

Public and state officers facing corruption charges will undergo lifestyle audits in a proposed bill that seeks to entrench such wealth reviews in the law…full story


Red flag over Sh1.2trn loan deadline
Business Daily|October 31, 2019 • October 31, 2019

Taxpayers will require Sh1.2 trillion over the next one year to settle nearly half of the public domestic debt, prompting the World Bank to warn that the repayment will have economic consequences…full story


Kenya should brace for next currency revolution
The People Daily|October 31, 2019 • October 31, 2019

Trust is the engine that drives trade. That is why car buyers send money to someone they have never met in Japan and get their car delivered at the port…full story


High rents push away Nairobians
The People Daily|October 31, 2019 • October 31, 2019

Nairobians in the lower middle-income cluster were forced to relocate from the metropolis as rising rent and hard economic times ate into their incomes…full story


MPs under pressure as vote on return of rate caps looms
The People Daily|October 31, 2019 • October 31, 2019

National Assembly leadership is applying all tricks in the book to ensure a presidential memorandum seeking to overturn the Finance Bill proposal…full story  


Treasury nets Sh25bn from State agencies
Daily Nation|October 31, 2019 • October 31, 2019

The Treasury in the last financial year collected Sh24.6 billion from State agencies and regulators where it has stakes against a target of Sh36.7 billion…full story


Giant sacco loses Sh4b members’ life savings
The Standard|October 31, 2019 • October 31, 2019

Thousands of members of the troubled Moi University Cooperative have lost their entire life savings to mismanagement…full story


Economy in crisis: World Bank warns of debt distress as 43pc of local borrowing mature
Daily Nation|October 31, 2019 • October 31, 2019

Kenya’s failure to fulfil its commitment to live within its means could make it difficult to repay its debts when they mature, the World Bank has warned…full story


Rate caps reversal puts Kenyans at banks mercy
The People Daily|October 31, 2019 • October 31, 2019

Members of Parliament’s bid to retain the interests rates cap law could be vanquished by a determined Executive to reintroduce it…full story


Insurers gain from bank stocks rally
Business Daily|October 31, 2019 • October 31, 2019

The rapid appreciation on the Nairobi Securities Exchange (NSE) is inflating the portfolios of insurers with significant investments in the lenders…full story  


Why Kenya cannot tax its way to prosperity
Business Daily|October 31, 2019 • October 31, 2019

The government is chasing down alleged tax evaders with uncharacteristic zeal and is targeting profitable industries for additional taxes as it looks to dose a gaping fiscal deficit which has driven the country’s debt to unprecedented levels…full story


NSE recovery market segment to uphold the integrity of equities
Business Daily|October 31, 2019 • October 31, 2019

Evidence from the past indicates that relisting and suspension of listed companies may address the best interests of investors…full story  


Africa can do better without fragmented stock exchanges
Business Daily|October 30, 2019 • October 30, 2019

The Absa Africa Financial Markets Index is out and is packed with valuable insights. The OMFIF-Absa report is slowly becoming a staple within the investment community…full story


Kenya’s trade deficit with Africa dims hopes for jobs growth
Business Daily|October 30, 2019 • October 30, 2019

Kenya continues to buy more than it’s selling to Africa, official statistics shows, pushed by falling competitiveness that has made domestic goods expensive in international markets…full story here and here


Revealed: City regions with best and lowest land prices
Business Daily|October 30, 2019 • October 30, 2019

Kiserian in Kajiado County offered Nairobi investors the lowest price for an acre of land even as Upper Hill cemented its position as the most costly location in a year where plot prices rose by 1.69 percent…full story


Don’t disenfranchise borrowers, but reform interface of CRB and banks
Daily Nation|October 30, 2019 • October 30, 2019

The Central Bank of Kenya (CBK) and other stakeholders in the financial and business sector, who rely on data from credit reference bureaus (CRBs) to make credit decisions or compile surveys on the country’s default rates…full story  


What Kenya can do to lessen pain of huge debt
The Standard|October 30, 2019 • October 30, 2019

The writer offers tips on what Kenya can do to lessen pain of huge debt…full story  


MPs vote for ‘return’ of expensive loans
Daily Nation|October 30, 2019 • October 30, 2019

House team agrees with President Kenyatta on removing interest rate caps, throwing SMEs and ordinary Kenyans under the bus and making the going even more difficult for many…full story


MPs protect existing borrowers from rate hikes
The People Daily|October 30, 2019 • October 30, 2019

A parliamentary committee yesterday moved to project the rights of existing borrowers to ensure they are not affected by the scrapping of interest rate capping…full story


Diaspora inflows growth slows down to Sh214bn
Daily Nation|October 30, 2019 • October 30, 2019

Central Bank of Kenya (CBK) data shows some Sh22.11 billion was wired home in September, the third lowest this year after February (Sh20.50 billion) and August (Sh22.07 billion)…full story


Brokers face stiff penalty
Business Daily|October 30, 2019 • October 30, 2019

Stockbrokers have to do due diligence or face penalties if they allow ‘naked’ short selling, the Capital Markets Authority (CMA) has said…full story


Stocks: Two ways to protect your money
The Standard|October 30, 2019 • October 30, 2019

Many stock investors wrongly belief that their work is finished once they buy a stock. The rest is just to wait and let the profits roll in. Nothing could be further from the truth…full story


Pensioners lose millions in ARM stocks
Daily Nation|October 29, 201 • October 29, 2019

Pensioners lost Sh9 million for the 2.9 million shares invested in Athi River Mining (ARM) after the company was placed on receivership and sold to a private cement company…full story


CBK faults structure of economy indicating growth without new jobs and rise in wages
Daily Nation|October 29, 2019 • October 29, 2019

It’s true you have GDP numbers but you can’t eat GDP at the end of the day, what is needed is specific home according to CBK Governor…full story


Shilling holds against dollar
The Standard|October 29, 2019 • October 29, 2019

The Kenyan shilling was stable against the dollar yesterday supported by Inflows from horticulture exports and offshore investors buying Government debt, traders said…full stor


Fix the economy now lest we run aground
Daily Nation|October 29, 2019 • October 29, 2019

The country is staring at economic decline contrary to earlier predictions that it would turn the corner this year…full story


A third of NSE firms risk hostile buyout, delisting
Business Daily|October 29, 2019 • October 29, 2019

The new legal regime makes it possible for owners with a majority shareholding of 50 pc and above to buy out other investors…full story


NSE share buy-backs set to start next year
Daily Nation|October 29, 2019 • October 29, 2019

Nairobi Securities Exchange (NSE)-listed firms could start buying back shares next year after new guidelines directing the process are published…full story  


CMA bags Africa innovation award or fifth time
Business Daily|October 28, 2019 • October 28, 2019

The Capital Markets Authority (CMA) has for the fifth time been named 2019 Africa’s most innovative capital markets regulator by International Finance Magazine…full story


Kenya’s economic stimulus package should come with KRA leash, law review
Business Daily|October 28, 2019 • October 28, 2019

We cannot move Kenya forward if half of us fall by the wayside. The economy needs a stimulus package, the business community needs space to breathe…full story


Developer asks State to go rural for cheap houses
The People Daily|October 28, 2019 • October 28, 2019

To tackle Kenya’s housing deficit, the government has been urged to come up with policies to make housing more affordable for Kenyans…full story


MPs want law changed to guide public hiring
Daily Nation|October 28, 2019 • October 28, 2019

It’s the law amended to introduce penalties against public institutions whose workforce does not reflect the face of Kenya…full story


Mobile loans surge as transactions hit 17m
The Standard|October 28, 2019 • October 28, 2019

Nearly 17 million digital loans have been disbursed as Kenyans increasing turn to their mobile phone to access credit…full story


With graft, ‘Big Four’, Vision 2030 a mirage
Daily Nation|October 28, 2019 • October 28, 2019

Kenya has come up with very good initiatives to improve the lives of its citizens through education, health, infrastructure and technology…full story  


More needs to be done to tame rising debt levels
Business Daily|October 28, 2019 • October 28, 2019

A recent Central Bank of Kenya survey is a real eye opener as to the deep level of debts the country…full story


Parliament must not give up war on capping interest on bank rates
Daily Nation|October 28, 2019 • October 28, 2019

In rejecting the Finance Bill 2019 passed by the National Assembly on September 26, President Kenyatta highlighted a number of issues as the basis of his decision…full story


New Nairobi bourse system risks ‘ghost’ shares trading
Business Daily|October 28, 2019 • October 28, 2019

The new Nairobi Securities Exchange (NSE) trading platform has exposed brokers to penalties by allowing customers to sell shares they do not have…full story


Dwindling fortunes in global markets hurt trading at NSE
The People Daily|October 28, 2019 • October 28, 2019

Foreign investors, driven by demand for favorable returns, keep off from counters with declining yields…full story


Poor performance at NSE as top firms’ dominance rise to 71.8%
The Star|October 28, 2019 • October 28, 2019

Top five blue-chip stocks maintained dominance at the Nairobi Securities Exchange (NSE), exposing the bourse’s risk to vulnerability in case of turbulence on one of those counters…full story


Demonetisation a boon to fight against corruption
The People Daily, October 25, 2019 • October 25, 2019

On September 30, the withdrawal of the old series Sh1,000 notes was successfully concluded. The demonetisation commenced on June 1, following the launch by CBK…full story


Listed companies fall short on corporate disclosures
Business Daily, October 25, 2019 • October 25, 2019

Nearly a third of companies trading on the Nairobi bourse did not adhere to corporate governance rules in the year June 2019, findings by the regulator show…full story


Experts challenge African cities to boost infrastructure
Business Daily, October 25, 2019 • October 25, 2019

A two-day international investment conference took of yesterday with calls for African cities to up their efforts in addressing infrastructure challenges that have derailed development…full story


Bank stocks up Sh21bn In rate cap review push
Business Daily, October 25, 2019  • October 25, 2019

The wealth of investors owning banking shares increased by Sh21.6 billion after the lenders’ stocks surged on news that President Uhuru Kenyatta has demanded that lawmakers remove the cap on commercial lending rates…full story


Shilling strengthens
The Standard, October 25, 2019 • October 25, 2019

The Kenyan shilling gained ground yesterday, supported by dollar inflows from offshore investors buying government bonds and tightening liquidity in the local money markets, traders said. In early trading, commercial banks quoted the shilling at 1 03.15/35 per dollar, compared with 103.35/55 at Wednesday’s close…full story


Kenya edges up WB business ranking but questions linger
The Standard, October 25, 2019 • October 25, 2019

Kenya’s ranking in the World Bank’s ease of doing business has improved amid a tough environment that has seen companies downsize and send workers home. The country has moved up five places in the latest ranking ahead of such economic giants as India, Italy, Brazil, and South Africa to settle at posi­tion 56. Kenya was […]


Kenya ranks third in Absa financial markets study
Metropol TV, October 24 2019 • October 25, 2019

Kenya has for the second year ranked third in the annual Absa financial markets study in the performance sector. —- Kenya has for the second year ranked third in the annual Absa financial markets study in the performance sector… full story here, here and here


NHIF accused of robbing the poor to treat the rich
The Standard|October 24, 2019 • October 24, 2019

Lawmakers have accused State health insurer of collecting billions from the poor to fly the rich abroad for specialized treatment…full story


Demonetisation was a big step in the fight against corruption
Daily Nation|October 24, 2019 • October 24, 2019

0n September 30, the withdrawal of the old series Sh1,000 notes were successfully concluded. This demonetization commence on June I following the launch of Kenya’s new generation notes…full story


How refugees in Kenya built a thriving Sh5.6bn economy inside camps
Business Daily|October 24, 2019 • October 24, 2019

By providing refugees with mobile currency supplied through Safaricom’s M-Pesa and Equity Money…full story


Senators oppose Sh9tr debt ceiling
The Standard|October 24, 2019 • October 24, 2019

Government’s plan to raise the debt ceiling to Sh9 trillion is facing an uphill task after senators claimed they were not convinced by the reasons advanced by acting Treasury Cabinet Secretary Ukur Yattani…full story


Was it wise for MPs to raise Kenya’s debt ceiling to Sh9 trillion?
The Standard|October 24, 2019 • October 24, 2019

There is nothing wrong with borrowing as long as the money is prudently used. The debt ceiling is compared to our GDP and we have not exceeded the percentage set by World Bank…full story


More debt please, Kenya is dead broke
Daily Nation|October 24, 2019 • October 24, 2019

Kenya is facing a debt crisis but government officials don’t seem to know what to do about it…full story


Common currency could hurt Kenya
The Star|October 24, 2019 • October 24, 2019

At the international Monetary Fund meeting in Washington last week, various African countries including Kenya said they were committed to having a common African currency to facilitate continental trade…full story


Kenya named third most advanced financial market in Africa
The People Daily|October 24, 2019 • October 24, 2019

Absa Group Ltd has, for die second consecutive time, listed Kenya as the third most advanced financial market in Africa in its latest edition of the Absa Africa Financial Markets Index…full story


Forex reserves shrink by Sh7bn to hit 5-month low
Business Daily|October 24, 2019 • October 24, 2019

The CBK official forex reserves shrunk by Sh7.78bilion last week to close at the lowest level since May even as the Shilling held steady…full story


NSSF, taxman tussle over pension collection fees
Business Daily|October 24, 2019 • October 24, 2019

The National Social Security Fund (NSSF) is fighting plans to have the taxman collect work­ers’ monthly pension contributions…full story here and here


Bond issues bolster NSE’s rank
The Star|October 24, 2019 • October 24, 2019

Increased sovereign bond listings have helped Kenya sustain its position as Africa’s third most advanced financial market…full story  


Millennials and women a ‘flight risk’ to employers
The Standard|October 23, 2019 • October 24, 2019

Millennials and women pose a higher flight risk to companies despite being the ‘happiest’ at work, according to a new survey…full story here and here


New shares double NCBA stock at NSE to 1.49 billion
The Star|October 23, 2019 • October 24, 2019

NCBA Group, an amalgamation of NIC Group and Commercial Bank of Africa, yesterday listed 793.8 million new shares at the Nairobi bourse, further cementing the merger…full story


Seven sacked employees sue NSE for Sh40 million
Business Daily|October 23, 2019 • October 24, 2019

Seven former NSE employees have been sued the coursed for Sh 40 million over alleged wrongful termination in February…full story


Africa revives dream of launching common currency before 2025
The Star|October 23, 2019 • October 24, 2019

Africa has revived talks of a common currency, with Finance ministers from the region optimistic the dream feasible in five to six years…full story


More burden as taxes levied to put up projects
The Standard|October 23, 2019 • October 24, 2019

In the last three financial years, the Government has col­lected Sh61b from importers to finance the Standard Gauge Railway, according to data from the Treasury…full story


Regulator faults MPs on access to pension savings
Business Daily|October 23, 2019 • October 24, 2019

The Retirement Benefits Authority has differed with MPs over early access to pension savings saying a policy shift could sink hundreds of retrenched workers into poverty…full story


Regulator faults MPs on access to pension savings
Business Daily|October 23, 2019 • October 24, 2019

The Retirement Benefits Authority has differed with MPs over early access to pension savings saying a policy shift could sink hundreds of retrenched workers into poverty…full story  


Government taps SMEs to grow volumes
The People Daily|October 23, 2019 • October 24, 2019

Kenya will adopt an Export Kenya,Building Kenya model to increase the percentage of goods leaving the country for international markets…full story


Central bank tipped to cut rates next month if cap goes
Business Daily|October 23, 2019 • October 24, 2019

Central Bank of Kenya (CBK) could next month cut rates if the lending cap is lifted, to manage a rise in interest rates…full story


New Gold ETF is still untapped potential at bourse
Business Daily|October 23, 2019 • October 24, 2019

Immediately after Kenya’s Supreme Court’s unprecedented September 1, 2007 annulment of the August 8 presidential elections, the NSE 20-share index declined by more than five percent triggering a trading halt…full story  


Rigid shilling takes the shine off Kenya’s financial markets
Business Daily|October 23, 2019 • October 24, 2019

A review of the ranking showed Kenya’s woes largely stem from low sensitivity of its currency to market fundamentals – potentially pointing to interventions on currency positions by the Central Bank…full story here and here


IMF says African debt stabilising but risks abound
The Standard|October 22, 2019 • October 22, 2019

Sub-Saharan Africa’s public debt load is stabilizing but the region’s economies face mounting headwinds due to slowing global growth that will weigh on exports, the International Monetary Fund (IMF) said on Friday…full story


Public debt repayments eat 57pcs of tax receipts
Business Daily|October 22, 2019 • October 22, 2019

For every Sh100 that Kenya collected as taxes in the three months to September, it used Sh57 on debt payments, underlining the heavy burden of mounting government borrowing…full story here and here


Brighter future for insurances – survey
The Star|October 22, 2019 • October 22, 2019

Kenya’s insurance sector looks bright and is expected to rebound this year…full story


Raising debt cap will not fix our self-inflicted woes
The Standard|October 22, 2019 • October 22, 2019

It’s now official that our official debt ceiling is Sh9 trillion…full story


Maintain bank interest cap to end exploitation
Daily Nation|October 22, 2019 • October 22, 2019

The President has refused to assent to the Finance Bill until the interest rate cap is removed…full story


Experts differ on economic impact of rate cap removal
The People Daily|October 22, 2019 • October 22, 2019

Some say repeating credit pricing policy without improving business environment will not increase loans to small business…full story


How to lift 20m Kenyans out of poverty in 10 years
Business Daily|October 22, 2019 • October 22, 2019

Kenya needs more and better job opportunities especially for the youth…full story


Treasury to close Sh60bn local loan as debt jumps to Sh6 trillion
The Star|October 22, 2019 • October 22, 2019

The National Treasury will today close selling of a 16-year infrastructure bond that sought to raise Sh60 billion from investors…full story


Kenya’s competitiveness improves on checked inflation, favourable business conditions
Business Daily|October 22, 2019 • October 22, 2019

The Central Bank of Kenya (CBK) has been successful in keeping inflation within the targeted range of between 2.5 percent and 7.5 percent despite some incidences of erratic weather that has driven food prices up…full story


Pension schemes at a crossroads as equities, bonds perform below par
Daily Nation|October 22, 2019 • October 22, 2019

Pension schemes are at a crossroads as returns on their two most popular asset classes – bonds and equities – remain subdued, exposing lack of diversification in the portfolios…full story  


Is your investment idea good? Here’s how to find out
Business Daily|October 22, 2019 • October 22, 2019

There’s one question many wish more clients asked: Is my business idea a good fit for the market? This is the first place we start when working with a client…full story


Kenya ‘will no longer comply’ with signed EAC agreement on debt limit
The East African|October 19, 2019 • October 22, 2019

Kenya has breached the East African Community ceiling on debt accumulation, as the national treasury borrows heavily to finance government operations amid falling revenue collection and poor economic performance…full story


Pound gains after new Brexit ‘deal’
Business Daily|October 18, 2019 • October 18, 2019

The pound has risen after a Brexit deal was agreed between UK and EU negotiating teams…full story


Nairobi to host trade conference
Daily Nation|October 18, 2019 • October 18, 2019

Over 300 delegates are expected in Nairobi next month to discuss management of investment transactions as Africa becomes the next hub of development…full story


Big win for retirees after court decision
Daily Nation|October 18, 2019 • October 18, 2019

Thousands of pensioners who had been underpaid will pocket billions of shillings following a decision by the Court of Appeal that recalculations of their exit dues by the Retirement Benefits Authorities Tribunal (RBAT), are valid and implementable…full story


New Britam insurance to cover the elderly
Business Daily|October 18, 2019 • October 18, 2019

Listed insurer Britam yesterday launched a new life cover that allows prospective customers to enroll for a policy up to the age 70…full story here and here


Premier Sacco assures members of better services
The People Daily|October 18, 2019 • October 18, 2019

Urithi Premier Savings and Credit Society is promising improved financial services to members after successfully rebranding to Anchor Premier Sacco…full story  


Expensive loans loom as MPs ready to end interest rate cap
The People Daily|October 18, 2019 • October 18, 2019

Kenyans should brace for higher interest rates on loans after Members of Parliament said they will not oppose a presidential memorandum on the Finance Bill seeking to scrap lending caps…full story here and here


Senate slows State bid to grow debt to Sh9tr
The Standard|October 18, 20 • October 18, 2019

AG says MPs’ approval last week that would have given Jubilee the room to borrow more is subject to further debate…full story


Act swiftly to reverse economic slowdown
The People Daily|October 18, 2019 • October 18, 2019

On Wednesday, the Institute of Human Resource Management warned that Kenya could be staring at an economic crisis fueled by the ongoing and looming lay-offs in many companies…full story  


Put debts to good use to reduce the tax burden on Wanjiku
The Star|October 18, 2019 • October 18, 2019

Kenya is heavily bound to external borrowing. The eye-opening insight by Rarieda MP Otiende Amollo that every Kenyan- including the one who is born today has a debt of Sh116,000 is mind-blowing…full story


Put conditions for reversing rate cap
Business Daily|October 18, 2019 • October 18, 2019

The rejection of the capping of interest rates by President Uhuru Kenyatta should provide an opportunity for lawmakers to review whether indeed they should retain it as it stands…full story


Rate cap removal to hit Treasury hardest
Business Daily|October 18, 2019 • October 18, 2019

Successful removal of the rate cap is set to bring to an end three years of cheap credit for the government in the local market that saw Treasury ramp up domestic debt from Shl.8 trillion in June 2016 to Sh2.7 trillion last June…full story  


Uhuru rejects rate cap in memo to Parliament
Business Daily|October 18, 2019 • October 18, 2019

President Uhuru Kenyatta has declined to approve the Finance Bill and has instead asked MPs to scrap commercial lending rate caps that critics say have led to a credit squeeze…


CMA to name and shame listed firms that fail to live by rules
Business Daily|October 18, 2019 • October 18, 2019

The Capital Markets Authority (CMA) will from next year name and shame listed firms reach set boardroom rules corporate governance standards in a move meant to cut the risk of loss for investors…full story here and here


How investors can value KCB stock post-National Bank deal
Business Daily|October 18, 2019 • October 18, 2019

There is no doubt KCB now firmly controls National Bank of Kenya (NBK) as a subsidiary business…full story


What to do with Sh500,000 worthless notes?
Daily Nation|October 17, 2019 • October 17, 2019

Ms Julius Mboga a resident of the sleepy Sirodha village in Gem siaya county is seriously distressed as he was about to leave CBK in Kisumu to try and exchange rates…full story


Experts warn on impact of redundancies
The People Daily|October 17, 2019 • October 17, 2019

A Kenya Association of Manufacturers quarterly bulletin says the organization which has 1,000 members commissioned a survey whose findings revealed that a third of KAM members indicated they were likely to lay off staff any time…full story


Treasury on the spot over Sh1bn insurance claims
Daily Nation|October 17, 2019 • October 17, 2019

The National Treasury is on the spot after it emerged that it is withholding more than Sh1 billion in insurance claims civil servants who have died or got injured in the line of duty…full story  


IMF lowers Kenya’s economic forecast
The Standard|October 17, 2019 • October 17, 2019

The International Monetary Fund (IMF) has revised downwards the projection of Kenya’s economic growth this year to 5.6 per cent…full story


The mortgage conundrum
The Standard|October 17, 2019 • October 17, 2019

Seven years ago, Home & Away carried an interview with Carol Kariuki, founder of The Mortgage Company, then described as the ‘first mortgage brokerage firm in East Africa with a passion to expand home ownership…full story here and here


Four ways to avoid being conned when buying a home
The Standard|October 17, 2019 • October 17, 2019

A house is one of the largest investment anyone can make, it is important, therefore, to keep all your wits around you when doing so…full story


Retirees want State to release pension arrears
Daily Nation|October 17, 2019 • October 17, 2019

A section of retirees have called on the government to fast-track the issuance of their pension following a court directive…full story  


MP aims to lower retirement age
The Standard|October 17, 2019 • October 17, 2019

Debate on a motion that seeks to reduce the retirement age from 60 years to 50 years was yesterday postponed again…full story


Delayed rainfall, graft bite Kenya’s growth prospects
The People Daily|October 17, 2019 • October 17, 2019

Kenya continues to receive conflicting economic growth projections, with the latest one dampening hopes the country will record an above six percent growth…full story


Kenya lures major US investors
Daily Nation|October 17, 2019 • October 17, 2019

Kenya has in the past 12 months attracted five American multinational corporations keen on making the country their gateway to regional markets…full story


Thousands miss out on NHIF cover despite remitting dues
The Star|October 16, 2019 • October 16, 2019

Thousands of NHIF contributors are locked out of the medical cover despite remitting their monthly dues, a parliamentary oversight committee heard on Tuesday…full story


Corporate tax drops as banks slow lending to private sector
The People Daily|October 16, 2019 • October 16, 2019

The report says financial service providers should put their houses in order having been on the radar of Central Bank of Kenya…full story


Why 60pc of family firms in Africa fail
The People Daily|October 16, 2019 • October 16, 2019

Survey shows that businesses break up or are sold before generation can take over due to absence of succession plans…full story


PE firms struggle for pension funds
Business Daily|October 16, 2019 • October 16, 2019

Private Equity funds are struggling to lure pension fund managers who have run out of investment options in the market…full story  


KAM warns Kenya risks investor flight on rigid regulation
Business Daily|October 16, 2019 • October 16, 2019

A manufacturers’ lobby has accused Kenyan regulators of overreaching their enforcement mandate and warned that such action could destroy fledgling businesses and scare off investors…full story


Real estate performance drops
The Standard|October 16, 2019 • October 16, 2019

Performance of the retail real estate sector has fallen this year in key urban areas, according to a report by Cytonn Real Estate…full story


Time for a long recovery after stock market hit rock-bottom?
Business Daily|October 16, 2019 • October 16, 2019

Trends History reminds us that bear markets are shorter than bull markets…full story  


Why you should invest in stocks
The Standard|October 16, 2019 • October 16, 2019

Hoe has never been and will never be a strategy in trading shares while cutting losses will save you more money…full story  


Is proposed CMA Recovery Board akin to pre-insolvency proceedings?
Business Daily|October 16, 2019 • October 16, 2019

Most jurisdictions have recently proposed pre-insolvency rules aimed at providing a light­ touch on insolvent companies to help them come up with financial restructuring models…full story  


Investors want Capital Gains Tax held at 5%
The Star|October 16, 2019 • October 16, 2019

Private Equity funds want the Capital Gains Tax retained at five per cent and not the 12 per cent proposed in the Finance Bill 2019, to boost…full story


Why the NSE bell is no longer chiming
The Standard|October 16, 2019 • October 16, 2019

Apart from Safaricom and big banks, the firms on the Nairobi Securities Exchange are bleeding money. We review trends and speak to business leaders and thinkers on how to reignite the economy…full story


NSE’s day-trading platform goes live
Business Daily|October 16, 2019 • October 16, 2019

Investors in stocks listed on the Nairobi bourse can now trade multiple times in a day,with possible higher returns but an increase in the risk of loss…full story


New policy on civil servant hiring to ruin competence and continuitya
Daily Nation|October 15, 2019 • October 15, 2019

The Public Service Commission (PSC) will no longer employ entry-level civil servants on permanent and pensionable terms and has placed its workers on short contracts…full story


NSSF puts 25pc equity portfolio in Safaricom
Daily Nation|October 15, 2019 • October 15, 2019

The National Social Security Fund (NSSF) invested nearly a quarter of its portfolio in Safaricom in the year ended June, 2018, raising the portion from 14.8 per cent the year before…full story


Export growth timely
Business Daily|October 15, 2019 • October 15, 2019

The data from Central Bank of Kenya indicating that the value of Kenya’s exports to the East African Community (EAC) grew by 5.98 per­ cent to Sh77.32 billion is good news for the bloc and a step in the right direction…full story


Doubts over Kenya’s fight against poverty
Daily Nation|October 15, 2019 • October 15, 2019

The pace of poverty reduction, especially in the country’s urban centers, has slowed down, casting doubts on the county’s ability to achieve its target of cutting poverty down to 3 per cent by 2030…full story


Concerns at the bourse as bonds drop
The People Daily|October 15, 2019 • October 15, 2019

A financial sector player has raised concerns about lackluster performance in the corporate bond market and asked institutions to repay maturing bonds on time…full story


Why public debt limit is a half-step
Business Daily|October • October 15, 2019

The National Assembly recently proposed amendments to the Public Finance Management (National Government) Regulations of 2015…full story


Kenya debt passes Sh5.9trillion mark as 44 loan deals await House nod
Daily Nation|October 15, 2019 • October 15, 2019

Kenya’s total public debt burden edged closer to the Sh6 trillion mark in the first week of this month even as it emerged that 44 new foreign loan agreements have recently been put before Parliament for approval or are under negotiation…full story  


Untapped potential of the ‘longevity economy’
Business Daily|October 15, 2019 • October 15, 2019

Businesses should strive to tap aging consumer base to reap from the major opportunity. When workers are living healthier…full story  


From banks to farms, economy bleeding
The Standard|October 15, 2019 • October 15, 2019

Thousands of people have lost their jobs as private firms either scale down operations or close shop entirely…full story here and here


Investors at Nairobi bourse can now borrow shares for trading
The People Daily|October 15, 2019 • October 15, 2019

The Nairobi Securities Exchange (NSE) has launched a new system that will enable investors and traders borrow a share of stock and sell it when the price increases with the hope of repaying the loan…full story


Exports to EAC bloc rise to Sh77 billion
Daily Nation|October 14, 2019 • October 14, 2019

The value of Kenya’s exports to key East African Community’s markets hit a three-year high in the first eight months of 2019, official data shows…full story


Microfinance lender disburses Sh4 billion to SMEs
Business Daily|October 14, 2019 • October 14, 2019

Kenya-based microfinance venture 4G Capital has lent Sh4.3 billion ($41.69 million) to small and medium enterprises over the past year, co-founder and CEO Wayne Hennessy-Barrett, says…full story


Unclaimed Assets Authority sleeping on the job
The People Daily|October 14, 2019 • October 14, 2019

When the government launched the Unclaimed Financial Assets Authority (UFM), it looked like a great idea whose time had come…full story


Steps to protecting financial institutions against cyber attacks
Business Daily|October 14, 2019 • October 14, 2019

Willie Sutton, the famed bank robber and New York native, when asked by the police why he held up banks, his answer was succinct, fluent and hilarious…full story


Hold the debt ceiling lest Kenya go broke
Daily Nation|October 14, 2019 • October 14, 2019

The debate about how much debt Kenya can prudently absorb is, once again, in the air after a Parliament granted the National Treasury’s wish to raise the borrowing ceiling to Sh9 trillion…full story  


Treasury reveals talks on Sh442bn foreign loan deals
Business Daily|October 14, 2019 • October 14, 2019

The Treasury is negotiating with foreign lenders and countries for Sh422 billion loans, adding the burden on future generations to repay Kenya’s mounting debt…full story here and here


Official forex reserves down to 19-week low
Business Daily|October 14, 2019 • October 14, 2019

Official foreign exchange reserves fell to a 19-week low a week ago providing an increasingly weaker cushion for the shilling…full story


Economic sustainability shapes path to national development
Daily Nation|October 14, 2019 • October 14, 2019

The National Treasury recently expressed its support for the raising of the debt limit by Parliament to Sh9.1 trillion…full story


The new challenge to business sustainability
Business Daily|October 14, 2019 • October 14, 2019

The advancement of technology has influenced the world in many positive ways. It has simplified communication for individuals and relatives across the world; Social media has enabled people to be up to date with information…full story


Banks step up private lending as T-bonds
Business Daily|October 14, 2019 • October 14, 2019

Credit to the private sector has grown at the fastest since 2016 imposition of the cap rates. CBK governor Patrick Njoroge in the monetary policy committee statement attributed the upturn in lending to innovate products…full story


Launch of the PE investing guide, market study report
Business Daily|October 14, 2019 • October 14, 2019

The East Africa Venture Capital Association is set to launch the first Private Equity Investing guide for pension funds In East Africa…full story here and here


Women take up Sh 55bn special tenders
Business Daily|October 11, 2019 • October 11, 2019

Entrepreneurs in the special interest groups of youth, women and persons with disabilities (PWDs) took up contracts worth Sh 104.8 billion that were floated by government entities, according to data…full story here and here


Equity targets youth in new growth drive
Business Daily|October 11, 2019 • October 11, 2019

Equity Group has enhanced its funding proposition to cater for the changing needs of its dominantly youthful clientele as it sets sights on hitting the Sh1 trillion mark in assets base in the next few years…full story


Efficient property registration key to affordable housing
Business Daily|October 11, 2019 • October 11, 2019

The lengthy process of registering land and property in Kenya has long stood in the way of affordable housing. But there are signs of improvement…full story


Kenyans with Sh100,000 in bank fall to 13-year low
Business Daily|October 11, 2019 • October 11, 2019

Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Shl00,000 in their bank accounts dropped to 1,450,000 last year, down from 1.583,000 in 2017…full story  


Kenya upholds position as magnet for financial deals
The Standard|October 11, 2019 • October 11, 2019

Kenya attracted more than half of East Africa’s financial deals in the first eight months of this year, cementing its position as the region’s investment hub…full story


Bank clients turning to insurance products
Business Daily|October 11, 2019 • October 11, 2019

Most bank customers are increasingly preferring insurance-linked investments more than bank savings as the products offer more stable returns in the long term…full story


Why MPs approved Uhuru bid to raise debt cap to Sh9 trillion
The Star|October 11, 2019 • October 11, 2019

A looming budget financing crisis forced MPs to cede ground to the government’s demand to set the public debt cap to Sh9 trillion…full story


Treasury floats new Sh60bn projects bond
Business Daily|October 11, 2019 • October 11, 2019

The national treasury has floated an sh60 billion infrastructure bond, the second such issue this…full story


Tax amnesty end eats into diaspora inflows
The Star, October 9, 2019 • October 9, 2019

Cash remittance by Kenyans abroad has slowed after the end of the tax amnesty on foreign earnings on June 30. Data by the Central Bank of Kenya for the January­ August period shows Kenyans in the diaspora sent $1.8 9 billion (Sh1 9 6.17 billion) compared to $1.81 billion (Sh187.87 billion) the same period last […]


State mulls national insurance policy
The People Daily, October 9, 2019 • October 9, 2019

Kenya has moved to develop a national insurance policy to boost the sector that is grappling with low returns on equity amid stifled uptake of services…full story


NSE’s incubation drive lbuka books first deal
The Standard, October 9, 2019 • October 9, 2019

Globetrotter Agency, a local tours and travel firm, has raised Sh21.4 million through the Nai­robi Securities Exchange’s (NSE) incubation platform Ibuka. The firm sold shares to investors for a stake that is yet to be determined, with the money realised being used as working capi­tal in seeking preferential terms with hotels and airlines…full story


Knee-jack State policies hurting ordinary citizens
The Standard, October 9, 2019 • October 9, 2019

Flush with the exuberance of youth, he eschewed simple economic principles of growth induced by earnings, savings and investment He put a down payment on a car that was overseas…full story


Borrowers struggle as bad loans hit Sh336b
The Standard, October 9, 2019 • October 9, 2019

The stock of bad loans increased by nine per cent in the first half of this year, reflecting a tough economic environment. Data from the Central Bank of Kenya (CBK) shows tl1at gross non-performing loans (NPLs) -credit for which principal or interest has not been paid for 90 days or more -rose to Sh336.4 billion […]


Sh13bn worth of unclaimed assets await takers
Daily Nation, October 9, 2019 • October 9, 2019

Unidentified Financial Assets Authority (Ufaa) is holding Sh13 billion belonging to two million Kenyans…full story


Mobile loans fill information gap
Daily Nation, October 9, 2019 • October 9, 2019

The past two years have seen an increasingly alarmist conversation arising over the ‘Wild West’ nature of the latest kid on the block – digitally delivered loans. The explosion of digital credit in Kenya since the CBA/Safaricom solution M-Shwari in 2012 has raised a concern in policy, financial sector development and consumer protection circles. These […]


State to retire expensive loans
The Star|October 8, 2019 • October 8, 2019

The National Treasury plans to clear the government’s commercial loans to maintain the public debt and ensure it does not soar to higher levels…full story


Financial Services Must Rethink and Return to First Principles
Business Daily|October 8, 2019 • October 8, 2019

The digital banking revolution is unavoidable. Demographically speaking -Kenya is a young nation, almost 60 percent of our population is under the age of 25…full story  


Mobile money transactions hit Sh2.87tm
Daily Nation|October 8, 2019 • October 8, 2019

Kenyans moved Sh2.87 trillion in the first eight months of the year, representing a 10.3 percent rise over 2018 transactions worth Sh2.6 trillion in a similar period…full story


Treasury panics as expensive loans push country to the cliff
The Standard|October 8, 2019 • October 8, 2019

For long, Kenya has been like that healthy youth, bothered less by talks of debt distress…full story here and here  


Circular economy key to sustainable growth
Business Daily|October 8, 2019 • October 8, 2019

Sustainable manufacturing is a key focus for many industries today as we drift towards Industry 4.0…full story


Why your money may sink in a Sacco
The Standard|October 8, 2019 • October 8, 2019

Savers risk losing billions of shillings as authorities crack the whip on co-operatives…full story


Middle-income earners one paycheck away from poverty
Business Daily|October 8, 2019 • October 8, 2019

Recent research findings presented by different stakeholders paint a grim picture of the economic fortunes of the country’s middle class…full story


NSE turnover falls for third quarter in a row
Daily Nation|October 8, 2019 • October 8, 2019

Turnover at the Nairobi Securities Exchange (NSE) fell in three consecutive quarters of the year as the main indices also dipped, fresh data shows…full story  


Simple Idea That Turns Money into Wealth
Business Today|October 7, 2019 • October 8, 2019

Making more money without defined financial goals is not prudent. One sentiment commonly shared by most Kenyan investors is the expectation to generate great returns from their investments but explain what they intend to do with the income…full story


World Bank Africa releases a regional economic update
Business Daily, October 7, 2019 • October 7, 2019

The World Bank Chief Economist for the Africa Region Albert Zeufack will give an update on the overall economic performance in sub Saharan Africa, according to a communique from the bank…full story


Shilling gets boost against the dollar on remittances
Business Daily, October 7, 2019 • October 7, 2019

The shilling dosed Friday on a stronger footing against the dollar as diaspora remittance inflows offered support. Central Bank has also shown a willingness in recent weeks to mop up liquidity healthy, which would support the stability of the shilling in case volatility starts to creep in…full story


Cost of goods rises as consumers reject Sh 1 coins
Business Daily, October 7, 2019 • October 7, 2019

Majority of shoppers have stopped using Sh1 coins some of which was introduced last year by CBK , a spot check by Business Daily has shown. The preference for higher-val­ue coins is fueling inflation…full story here and here


BEHAVIOURAL BIASES IN HOME INVESTMENT
Business Daily, October 7, 2019 • October 7, 2019

Purchasing a house is an in­vestment decision where you factor the price, your financial capacity and the long-term value of the property…full story


Financial services firm Zamara to launch report
Business Daily, October 7, 2019 • October 7, 2019

Zamara to release its annual report on pension performance in the country. Financial services provider Zamara says it will release Its second annual report…full story


Traders: Sh150m market will boost the economy
Daily Nation, October 7, 2019 • October 7, 2019

Construction of Sh150 million common border market at Suam in Kitale along Kenya-Uganda border town will boost the economy of Trans-Nzoia and neighbouring counties…full story


Reopen exchange of old notes in remote areas
Daily Nation, October 7, 2019 • October 7, 2019

The writer appeals to President Uhuru Kenyatta to help them by ordering CBK to reopen the exchange of notes in remote areas…full story


Communication an integral tool of risk management
The People Daily|October 4, 2019 • October 4, 2019

In every organisation, the most important goal is to meet its objectives and reduce or prevent risks. This is done by taking into account social, cultural, ethical, political and legal matters that may impact on organisations objectives…full story


Equity to curb ATM burglary with eye recognition software
The Star|October 4, 2019 • October 4, 2019

Equity Bank Limited clients in Mombasa asked the bank to speed up use of eye recognition detection…full story


NIC, CBA merger bank eyes SMEs with more outlets
Business Daily|October 4, 2019 • October 4, 2019

NIC Group and CBA Group, now merged into CBA group, will open more branches in Kenya and the region as it eyes more small and medium sized businesses…full story


The big Sh6.7 billion riddle that defies zero sum theory
Business Daily|October 4, 2019 • October 4, 2019

When the CBK announced the demonetisation exercise on June l, 2019, it gave a September 30, 2019 deadline for the exchange of the old Sh1,0000 currency notes ostensibly, in CBK’s own words, to deal with illicit financial flows and counterfeits…full story


Illicit cash task for State after replacing Sh1,000
Business Daily|October 4, 2019 • October 4, 2019

The suspicious transactions that the Central Bank of Kenya captured during the retirement of old bank notes must be investigated and legal action taken against those in breach…full story


Customer to get Sh500,000 payment if bank fails
Business Daily|October 4, 2019 • October 4, 2019

Depositors in collapsed banks will from next year receive compensation of up to Sh500, 000. marking the first Increase In 30 years…full story


New orders boosted September private sector growth – Stanbic index
The Star|October 4, 2019 • October 4, 2019

Private sector activity grew for the fifth straight month in September , driven by new business and accelerated sales…full story


Treasury borrows Sh305bn despite outcry over debt
The Star|October 4, 2019 • October 4, 2019

The government borrowed six loans amounting to Sh305 billion despite the outcry over the swelling public debt…full story


Shilling steady…
The Standard|October 4, 2019 • October 4, 2019

The Kenyan shilling held steady yesterday with Inflows from portfolio investors buying government debt helping meet receding dollar demand from the energy sector am 10 excess liquidity In the local money market, traders said…full story


First green bond raises Sh4.3bn
The Star|October 4, 2019 • October 4, 2019

First green bond has raised Sh4.3 billion to build environmentally-friendly student accommodation, the issue’s lead arranger said on Thursday…full story


Effectively Managing Natural Resources
The Star | October 3, 2019 • October 3, 2019

The shipment of Kenya’s first oil export via the Early Oil Pilot Scheme (‘EOPS’), 200,000 barrels of oil valued at 512 million, generated fanfare and excitement throughout the nation…full story


Understanding Employment and Labour Relations Court
Business Daily | October 3, 2019 • October 3, 2019

A large number of claims workers at the employment and labor relation court registry shows the reality of unevenness in the relationship between employers and employees in Kenya…full story


CBK flags risk in banks’ high State debt exposure
Business Daily | October 3, 2019 • October 3, 2019

Commercial banks face heightened sovereign and liquidity risks, the regulator has warned, citing rising exposure to government bonds in a capped interest rate regime…full story


Hustler nation: Why people ditch tie for informal employment
The Star | October 3, 2019 • October 3, 2019

Personal satisfaction, uncertainty about the future, avoiding registration and taxation are some of the reasons people shift from the formal to the informal sector…full story


Firms must brace for digital disruptions: Standard CEO
The Standard | October 3, 2019 • October 3, 2019

Addressing the annual leadership convention for accountants in Mombasa, Mr. Lyomu said the recent shutdown of betting firms was proof of adverse effects of unpredictable policies…full story


Kenya is still king of mobile money banking – survey
The Star | October 3, 2019 • October 3, 2019

Kenya is still leading mobile money in the world, setting the pace for developing countries with low commercial bank penetration, the latest survey by the International Monetary Fund (IMF) has revealed…full story


Shilling firm amid steady dollar supply
Business Daily | October 3, 2019 • October 3, 2019

The shilling was steady against the dollar yesterday on the back of even greenback demand and supply, while signs of tightening liquidity following a sustained regulator mop-up also offered support…full story


Disappearing acts: Where did our old Kenya Shillings notes go?
Daily Nation| October 3, 2019 • October 3, 2019

The Business Daily reported on Tuesday It was business as usual for many banks and currency dealers Monday as the old Kenya shilling 1,000 currency notes ceased to be legal tender after 25 years in the market…full story


Hit or miss? Sh7.3 billion dirty cash locked out of the financial system
Daily Nation | October 3, 2019 • October 3, 2019

the end of demonetisation of the old Sh1,000 notes on Monday, the Central Bank of Kenya announced that Sh7.3 billion had been wiped from circulation…full story


Stakeholders root for single digit mortgage
The Standard | October 3, 2019 • October 3, 2019

Real estate players have asked the Government to reduce interest rates to single digits to enable more Kenyans to own homes through mortgage…full story


China imports hurt Kenya-Africa trade
The People Daily | October 3, 2019 • October 3, 2019

Kenya will only be able to significantly increase trade with other African countries in 2021 when the African Continental Free Trade Area (AfCTA) kicks in…full story


How to reset the button for Kenya economic takeoff
Business Daily | October 3, 2019 • October 3, 2019

We misrepresent it when Treasury tosses CBK Eurobond proceeds to reserves: That renders CBK a cashier for repayments…full story here and here


Kenyans had Sh60 billion ‘hidden under mattress’
The Standard | October 3, • October 3, 2019

After a four-month long demonetization exercise, the Central Bank of Kenya (CBK) has invited detectives to examine 3,172 suspicious deposits…full story


Kenya’s foreign banks debt stock hits Sh1trn
Daily Nation|October 2, 2019 • October 2, 2019

Kenya’s expensive debt from foreign commercial banks hit Sh.1.09 trillion by end of June following the Sh210 billion May Eurobond issue…full story


Deposit cover now increased to Sh100,000
Daily Nation|October 2, 2019 • October 2, 2019

Depositors in collapsed banks will from next year receive compensation of up to Sh500,000, marking the first increase in 30 years…full story


Small lenders feel pinch in 9-month high interbank rate
Business Daily|October 2, 2019 • October 2, 2019

Small banks are paying as high as 10 percent to access overnight loans from larger peers as the interbank rate hit its highest level in nine months due to at­tractive mop-up rates offered by the regulator…full story


Banks to remit more premiums to KDIC to protect depositors in case of a collapse
The Star|October 2, 2019 • October 2, 2019

Commercial banks have been pulled Into a model that may lead to further tightening of lending rules to borrowers…full story


How to tax the digital economy
Daily Nation|October 2, 2019 • October 2, 2019

KRA is working with CA to tax foreign and local revenue generating apps…full story


Circular economy the future of conservation efforts
The People Daily|October 2, 2019 • October 2, 2019

Circular economy the future of conservation efforts In recent decades, manufacturing has been visualised as a mechanism to produce goods for the large market without concern about their after-effects on the end consumer…full story


Kenyans living abroad seek to wire Shl 19b back home
The People Daily|October 2, 2019 • October 2, 2019

More than 3,000 Kenyans with cash stashed abroad have applied to repatriate Sh118.8 billion on under the tax amnesty announced by Treasury in 2016…full story


CMA marks World Investor Week
The Standard|October 2, 2019 • October 2, 2019

Capital Markets Authority (CMA) is participating in the World Investor Week to enhance investor awareness, education and protection…full story


Treasury targets Sh30bn in Sept T-bond tap issue
Business Daily|October 2, 2019 • October 2, 2019

The Treasury has reopened its September bond issue to tap sale seeking to raise an additional Sh30 billion from the market…full story


Kenya’s risks to investors high
The Standard|October 2, 2019 • October 2, 2019

The Government has made little progress in making the country a safe haven for investors, a new study has shown…full story


Africa dreams of free trade as red tape rules on the ground
The Standard|October 1, 2019 • October 1, 2019

The speed limit is 110km per hour on the new highway that Abadalla Chande uses to haul his truck…full story


Questions raised over missing Sh5.6 billion at NSSF
Daily Nation|October 1, 2019 • October 1, 2019

The National Social Security Fund (NSSF) cannot account for billions of shillings of workers’ monthly contributions. M-Pesa payments are also is under scrutiny…full story


No last-minute rush as old Sh1,000 makes exit
Daily Nation|October 1, 2019 • October 1, 2019

CBK says it did all it could to ensure individuals and -organizations with the old notes returned them…full story


Are National Treasury CS’s new austerity measures good?
The Standard|October 1, 2019 • October 1, 2019

Mixed reactions on whether the Treasury’s new austerity measures are good…full story  


State to crack whip on saccos
The Standard|October 1, 2019 • October 1, 2019

Sacco Societies Regulatory Authority (Sasra) chairman John Munuve has warned that the Government will crack down on clerics setting up illegal saccos to fleece unsuspecting church members…full story


NSE endorses principles of responsible banking
The People Daily|October 1, 2019 • October 1, 2019

Nairobi Securities Exchange (NSE) has endorsed the principles of responsible banking launched at the United Nations by Secretary General Antonio Guterres, last month…full story


NSE endorses principles of responsible banking
The People Daily|October 1, 2019 • October 1, 2019

Nairobi Securities Exchange (NSE) has endorsed the principles of responsible banking launched at the United Nations by Secretary General Antonio Guterres, last month…full story


Cost of living drops to18-month low but growth slows down
Business Daily|October 1, 2019 • October 1, 2019

The cost of living measure dropped to an 18-month low in September due to lower prices of food but a slowdown in agriculture saw the economy grow slower…full story here and here


Kenyan shilling stable as govt concludes demonetization
CGTN|September 30, 2019 • October 1, 2019

The Kenyan shilling remained stable against international currencies as the east African nation concluded the demonetization of its currency on Monday. The Central Bank of Kenya (CBK) quoted the shilling against the U.S. dollar at 103.88, nearly the same level it closed on Friday last week…video  


EACC recovers Sh2b in stolen public property
The Standard|September 30, 2019 • September 30, 2019

The anti-graft agency has recovered public assets worth Sh2 billion in Mombasa and Kwale counties…full story


900 bank accounts on police radar as Sh 1,000 swap ends
The Standard|September 30, 2019 • September 30, 2019

Window to exchange bank notes to new once is coming close according to the directive…full story


Kenyans bid goodbye to the old Sh1,000 note
Business Daily|September 30, 2019 • September 30, 2019

Kenyans have up to today to discard the old Sh1,000 notes. But the Sh50. Sh100. Sh200 and Sh500 notes will be phased out slowly…full story


Lessons in SMEs listing and death
Business Daily|September 30, 2019 • September 30, 2019

The number of firms shutting down should be read in the same vein as the number of companies that were registered during the same period…full story


State bodies struggling due to poor public governance
The Star|September 30, 2019 • September 30, 2019

ODM leader Raila Odinga says incompetent individuals are being recruited to manage complex state institutions leading to their ultimate shut down…full story


MPs seek to lock banks out of State surplus funds
National Treasury|September 30, 2019 • September 30, 2019

Commercial banks face another hurdle as Members of Parliament plot to restrict cash controlled by State agencies, just days after approving a law that denies financial institutions right to set interest rates…full story  


Maturity of CIC Insurance Group Sh5 Billion bond
Business Daily|September 30, 2019 • September 30, 2019

CIC Insurance Group announced to the holders of all the outstanding notes that It will be redeeming them in full upon their maturity today…full story  


Focus on awareness as Kenya’s cyber threats jump 135pc
Business Daily|September 30, 2019 • September 30, 2019

Banks and other financial institutions have recorded an increase in attacks. In late April over Sh11 million was stolen from four Barclays ATMs in the city…full story here and here  


Statistics agency to release GDP, inflation figures
Business Daily|September 30, 2019 • September 30, 2019

The Kenya National Bureau of Statistics Is expected to release gross domestic product figures for the second quarter of the year…full story


Treasury law change ups public debt cap to Sh9trn
Business Daily|September 30, 2019 • September 30, 2019

Treasury has announced plans to change the law and increase the cap for state borrowing to Sh9 trillion, offering it leeway to jerk up the mounting public debt…full story here and here


Deliver affordable loans with or without rate cap
Business Daily|September 30, 2019 • September 30, 2019

President Uhuru Kenyatta is today expected to either sign into law the Finance Bill, which contains, among other key things, a provision entrenching the cap on interest rates charged on commercial loans…full story


Women trapped in mobile loan debts to impress others
Saturday Nation|September 28, 2019 • September 30, 2019

A few months ago, Beth Nkatha was flat broke. What more, she was living beyond her means. This is how her story goes…full story here and here


Sanlam to retrench staff aged over 50 in cost-cutting
The Standard|September 27, 2019 • September 27, 2019

Non-bank financial services firm, Sanlam Group, plans to retrench employees aged over 50 as part of a cost-cutting measures…full story


A strong case for dropping CBR as monetary policy tool
Business Daily|September 27, 2019 • September 27, 2019

Central Bank of Kenya (CBK) remains that of maintaining price stability through monetary policy, which, as the late Prof Francis Mwega showed in a paper…full story  


Entry of lmarisha Sacco marks a new beginning to investment and economic empowerment
Daily Nation|September 27, 2019 • September 27, 2019

It gives me great pleasure to join Imarisha Sacco Society Limited in celebrating yet another milestone of unveiling its Eldoret branch in the North Rift region…full story  


Eyes on Uhuru as MPs approve law on rate cap
Business Daily|September 27, 2019 • September 27, 2019

Members of Parliament have approved a bill that entrenches bank interest rate caps after they voted to block the National Treasury from returning the country to a free market regime…full story


SIB’s flagship online trading fund Mansa offers Kenyans access to global markets
Business Daily|September 27, 2019 • September 27, 2019

The Capital Markets Authority (CMA) introduced the Capital Markets Online Foreign Exchange Trading Regulations in 2017…full story  


You can quit job early and have a ball if you plan
The Nairobian|September 27, 2019 • September 27, 2019

More than 1,000 workers have lost Jobs in the last few weeks following layoffs at the East Africa Portland Cement Company (EAPCC), East African Breweries Li ed (EABL), Telkom Kenya and Stanbic Bank of Kenya in a move that has sent shivers down the spines of private sector employees…full story  


What you need to know about online forex trading in Kenya
Business Daily|September 27, 2019 • September 27, 2019

The foreign exchange (FX) market is the largest, most liquid and most traded financial market in the world with a total volume of up to $5.3 trillion traded daily…full story  


Making the Decision; Buy or Rent
The Standard|September 27, 2019 • September 27, 2019

The issue of home ownership receives considerable interest from diverse stakeholders, and deservedly so It is a status symbol of sorts in many social economic settings…full story  


Making the Decision; Buy or Rent
The Standard|September 27, 2019 • September 27, 2019

The issue of home ownership receives considerable interest from diverse stakeholders, and deservedly so It is a status symbol of sorts in many social economic settings…full story  


Billions poised for Africa’s real estate sector
The Standard|September 27, 2019 • September 27, 2019

African real estate, the 10th annual Africa Property Investment Summit taking place next week in Johannesburg, South Africa, whose stakeholders have been more active in the first half 2019 than in the previous 24 months…full story


Kenya ranked third globally on trade growth potential
Business Daily|September 27, 2019 • September 27, 2019

Kenya is ranked third out of 66 economies showing best potential in trade growth, a new report by multinational financier Standard Chartered Plc shows…full story


Kenyatta budget cuts over piling foreign debts
The Star|September 27, 2019 • September 27, 2019

President Uhuru Kenyatta has moved to curb lavish spending In his administration with cuts that will be ‘brutal and sustained’…full story here and here  


Revisit our public spending problem
Business Daily|September 27, 2019 • September 27, 2019

With schools collapsing, health care struggling, business in the doldrums, road carnage featuring in the news almost weekly and food insecurity (hunger) reportedly now ravaging 24 (or half ) of our 47 counties…full story  


Investors trade 654,000 shares while Mumias is in receivership
Daily Nation|September 27, 2019 • September 27, 2019

Investors bought a total of 654,200 shares of Mumias Sugar Company in three days without knowing that the miller had been placed under receivership…full story


Ex-Equity Bank employee charged with Sh3.5m fraud
Daily Nation|September 26, 2019 • September 26, 2019

A former employee of Equity Bank and his sister were on Tuesday charged with conspiracy to defraud Sh3.5 million from the account of a customer…full story


Faulu to spend Sh113m on expansion, upgrade
The People Daily|September 26, 2019 • September 26, 2019

Faulu Microfinance Bank will spend Sh113 million to expand its branch network, and refurbish 15 branches across the country. The move will see it grow its presence coun­trywide and also increase grassroots reach…full story


KCB’s action rattles sugar belt region
The People Daily|September 26, 2019 • September 26, 2019

Sugar stakeholders in Western Kenya and the county government of Kakamega have opposed the move by Kenya Commercial Bank (KCB) to place Mumias Sugar Company under receivership…full story


Green bonds tux policy Bill timely
Daily Nation|September 26, 2019 • September 26, 2019

It was Nuru’s view that MPs engage more on matters within the span of their four-year term and that debates on policies with 10- or 20-year horizons were an exercise in futility…full story


Mobile payments hit Sh1 .95tn
The Star|September 26, 2019 • September 26, 2019

More Kenyans are leaning towards using mobile money to pay their bills as opposed to using hard cash. Telco giant Safaricom, through its M-Pesa platform, controlled 78.44 per cent of the mobile money market with transactions valued at Sh1. 71 trillion…full story  


Sustainability now a key focus point for banking
Business Daily|September 26, 2019 • September 26, 2019

Unlike in the past when businesses only cared about getting more customers and returning a bigger profit, the paradigm has shifted…full story


Creating an enabling environment for national growth
The Standard|September 26, 2019 • September 26, 2019

Kenya’s strategic location within the East African Community as well as in the continent, has positioned the country as the regional trade, investment and logistics hub…full story


Tax proposals in Finance Bill need further refining
Business Daily|September 26, 2019 • September 26, 2019

The writer, Sachen Gudka, Chairman, Kenya Association of Manufacturers (KAM)Each year; the Treasury presents its revenue sources and expenditure proposals through the budget statement to inform the development of the Finance Bill…full story


NSE suspension of Mumias traps 130,000 small investors
Business Daily|September 26, 2019 • September 26, 2019

The Nairobi Securities Exchange (NSE) yesterday quietly sus­ pended Mumias Sugar from trading at the bourse after the loss-making miller was placed under receivership, thus stopping 130,951 small investors from accessing their shares…full story here and here  


UN in out-of-pocket spending curb call
Business Daily|September 25, 2019 • September 25, 2019

Governments must boost spending on primary health­ care by at least an additional 1 percent of their gross domestic product to widen coverage and stop impoverishing patients, the World Health Organization (WHO) said on Sunday…full  story


CBK alarmed by huge trade using old Sh1,000 notes
The People Daily|September 25, 2019 • September 25, 2019

The Central Bank of Kenya (CBK) has raised alarm over increased wheat purchases in Narok county just five days before the old Sh 1,000 bank note is phased out…full story


Family Bank pumps Sh4.5 m into school water storage
Business Daily|September 25, 2019 • September 25, 2019

More than 50,000 school children now have access to clean drinking water after Family Bank and its staff raised Sh4.5 million for storage tanks…full story


KCB places Mumias Sugar under administration over Shl2bn loan
Daily Nation|September 25, 2019 • September 25, 2019

KCB Group has placed Mumias Sugar Company under administration after the miller defaulted on loans amounting to Sh12.5 billion it owes the bank and other creditors, effectively kicking out the company’s board and management…full story


Barclays signs house buying agreement
Daily Nation|September 25, 2019 • September 25, 2019

The Barclays Bank of Kenya has signed an agreement with real estate arm of Centum Investment Company to finance buyers of properties being developed in Kilifi and Nairobi at affordable interest rates…full story


Ex-CBK boss pushes for adoption of e-IDs
Business Daily|September 25, 2019 • September 25, 2019

The research, conducted by former Central Bank of Kenya (CBK) governor Njuguna Ndung’u, concludes that the current identification system is not digitally enabled and secure…full story


More sensitisation over older notes needed
Daily Nation|September 25, 2019 • September 25, 2019

The Central Bank should ensure its sensitisation campaign on the withdrawal of the older Sh1,000 notes from circulation by October  reaches as many Kenyans as possible…full story


Don’t fear taking loans, deputy governor says
The Star|September 25, 2019 • September 25, 2019

Busia Deputy Governor Moses Mulomi has praised KCB Port Victoria branch for supporting small­ scale traders in Budalang’i…full story


Expect more mergers in the banking sector, says Njoroge
The People Daily|September 25, 2019 • September 25, 2019

The banking sector should expect more consolidation as relatively weaker lenders are acquired by stronger counterparts, Central Bank of Kenya (CBK) Governor Patrick Njoroge has said…full story here and here  


Sh40 billion plan to reform public sector
The Standard|September 25, 2019 • September 25, 2019

The Government will require more than Sh40 billion to reorganise its bloated public service to make it more lean and efficient…full story  


140 sacco chief executives sharpen business skills
Business Daily|September 25, 2019 • September 25, 2019

More than 140 sacco chief executive officers have completed a three-day training on business development during their annual summit held in Naivasha last week sponsored by CIC Insurance…full story


Leasing firms peg business growth on Big Four projects
The Standard|September 25, 2019 • September 25, 2019

Continued heavy spending on infrastructure by the Government is expected to further grow leasing sector…full story  


The true cost of entrepreneurship
The Standard|September 25, 2019 • September 25, 2019

More often than not. entrepreneurs project their successes to the world very few. like Tesla Founder Elon Musk, are willing to reveal the actual price they have to pay to make their ventures work…full story


How budget can have impact on manufacturing
The People Daily|September 25, 2019 • September 25, 2019

Each year, die National Treasury presents its revenue sources and expenditure proposals through the budget statement to inform the development of the Finance Bill…full story  


Economy to grow 5.8 per cent in Q2 – CBK projects
The Star|September 25, 2019 • September 25, 2019

Central Bank of Kenya said the growth although lower compared to last year is pegged generally on stable microeconomics supported by political stability…full story


What you need to know before you invest in shares
The Standard|September 25, 2019 • September 25, 2019

Shares are one of the greatest investment innovations of our time. They allow anybody to own a portion of a business or businesses without getting personally involved in day-to-day operations…full story


79pc of workers target business in retirement
Business Daily|September 25, 2019 • September 25, 2019

A majority of Kenyans (79 per cent) want to start a business after retirement to continue meeting their daily needs as high expenses and low income levels make it hard to save for sunset years…full story


Tanzania fines three Kenyan banks for breaking anti-money laundering rules
Daily Nation|September 24, 2019 • September 24, 2019

Tanzania has fined three Kenyan banks Sh62.2 million for breaking anti-money laundering rules as regulators in East Africa increasingly impose penalties to curb the flow of illicit money…full story


Ecobank bets on new platform to ease customer banking operations
The Standard|September 24, 2019 • September 24, 2019

Ecobank, the Pan-African banking group with operations in 33 African countries is upgrading its core banking application to Flexcube 12…full story


Equity among banks in Tanzania penalised for money laundering
The Star|September 24, 2019 • September 24, 2019

Equity was also among banks that were last year fined by the Central Bank of Kenya for their role in moving state funds siphoned through the National Youth Service…full story  


KCB Group joins global banks committed to climate action
The People Daily|September 24, 2019 • September 24, 2019

KCB Group has joined 130 other banks across the world that collectively hold $47 trillion in assets to support climate action and sustainability…full story


Jobs promise in fourth industrial revolution
Business Daily|September 24, 2019 • September 24, 2019

McKinsey predicts that 800 million workers could be displaced in 42 countries, or a third of the workforce, because of the Fourth Industrial Revolution (41R)…full story  


Digital payments up trade by 44pc
The Standard|September 24, 2019 • September 24, 2019

Adopting digital payments technology could improve the business prospects of small retailers by up to 44 per cent…full story


Should bank interest rates cap be removed
The Standard|September 24, 2019 • September 24, 2019

The rate cap has resulted in unintended consequences, including a reallocation of capital from where it is needed most…full story  


Trusted identities Key to sustainable growth in Africa
Business Daily|September 24, 2019 • September 24, 2019

Through the Sustainable Development Goals (SDGs) – goal 16. the UN has made it its priority to give everyone a legal ID by 2030…full story  


Relief for borrowers as central bank holds benchmark rate at 9pc
The People Daily|September 24, 2019 • September 24, 2019

It is a sigh of relief for borrowers after Central Bank of Kenya (CBK) retained the policy lending rate at 9 per cent in its meeting yesterday…full story


Demonetisation plan will boost economy
The People Daily|September 24, 2019 • September 24, 2019

ln less than a week, the old Sh 1 ,000 banknote will cease to be legal tender, thus those still holding onto the old notes will be left with valueless paper according to CBK deadline…full story  


Big Four agenda easier to achieve with technology
The Star|September 24, 2019 • September 24, 2019

Technology is quickly changing, influencing how we relate with each other, what we do and how we do it…full story  


How to prepare for disruption in business, work
Business Daily|September 24, 2019 • September 24, 2019

One of the profound forces that are shaping our lives today is the disruptive effect of technology on business models. In the last decade alone, numerous giant companies have fallen victim to disruption…full story


Kenyan shilling under focus as remittances fall
Business Daily|September 24, 2019 • September 24, 2019

Kenyan shilling is in the spotlight as diaspora remittances fell for a second straight month expected pressure from the demonetisation of the old Sh1,000 note by CBK…full story  


Properties on sale shoot up by a third
Daily Nation|September 24, 2019 • September 24, 2019

The number of housing units going under the gavel has shot up by a third this year compared with the previous period, auctioneers have revealed…full story


CBK shrugs off global risks to retain key rate
Business Daily|September 24, 2019 • September 24, 2019

Central Bank of Kenya (CBK has shrugged off heightened global uncertainties to retain its benchmark lending rate at 9.0 percent for the eighth time in a row, sparing borrowers higher cost of loans…full story


Diaspora inflows fall for second month in a row
Daily Nation|September 24, 2019 • September 24, 2019

The shilling is in the spotlight as diaspora remittances fell for a second straight month amid expected pressure from the demonetization of the old Sh1,000 note that has raised liquidity in the market…full story  


Businesses set early deadline for old Sh1000 notes usage
The Star|September 23, 2019 • September 23, 2019

The public now has even lesser day s to exchange their Sh1000 notes as businesses set early deadlines than that of Central bank of Kenya…full story


Treasury mops up Sh78b from State agencies
The Standard|September 23, 2019 • September 23, 2019

Treasury has for some time eyed regulators’ purses, including CBK, the Kenya Bureau of Standards, Communications Authority of Kenya, the National Environmental Management Authority, Capital Markets Authority and Insurance Regulatory Authority, accusing them of failing to remit surpluses owed by the Exchequer…full story


Jubilee calls for innovation fund to help create attractive policies
Daily Nation|September 23, 2019 • September 23, 2019

Jubilee Insurance has sent a proposal to the regulator asking for the industry to set up an innovation fund to help come up with novel insurance products…full story


Retool CSR strategies for sustainable development
Business Daily|September 23, 2019 • September 23, 2019

Retool CSR strategies for sustainable development…full story  


How Banks can use technology to reduce increasing bad loans
The People Daily|September 23, 2019 • September 23, 2019

Commercial banks which rely on data of individuals information as the basis to disburse credit have been challenged to do more to contain the ratio of non-performing loans (NPLs)…full story


WHEN INVESTING THROUGH EXCHANGE TRADED FUNDS
Business Daily|September 23, 2019 • September 23, 2019

Barclays Bank of Kenya CEO Jeremy Awori, his Nairobi Securities Exchange counterpart Geoffrey Odundo Crigho and former National Treasury PS Kamau Thugge during the bank’s launch of the first exchange traded fund in Kenya in March 2017…full story


Why new CRB listing rule signals costly digital loans
Business Daily|September 23, 2019 • September 23, 2019

The new Central Bank of Kenya rule that inhibits credit reference bureau listing for loan defaulters before six months, and which also aligns mobile loans to normal loans is set to hit Kenyans badly…full story


Cleanup of agriculture programmes to begin
The Star|September 23, 2019 • September 23, 2019

The government will this week begin streamlining skills students ought to acquire in agriculture courses in universities and colleges before they graduate…full story


Reserves shrink by Sh4.8 billion on reduced diaspora remittance
The Star|September 23, 2019 • September 23, 2019

Kenya’s foreign exchange reserves shrank further last week on low diaspora remittance and efforts by Central Bank of Kenya to support the shilling,according to CBK’ s weekly bulletin…full story


Higher USD inflows help shilling gain
Business Daily|September 23, 2019 • September 23, 2019

The shilling dosed on a stronger footing against the dollar on Friday as inflows and a liquidity mop up balanced out greenback demand from importers…full story


World Bank says Kenya’s lands sector most corrupt
The People Daily|September 20, 2019 • September 20, 2019

The World Bank says Kenya’s lands sector has consistently ranked as one of the most bribery-prone divisions in the country. Kenya Private Sector Alliance (Kepsa) CEO Carole Kariuki says there is an urgent need to improve the laws and regulations dealing with the rigorous process of issuing construction permits…full story


We’ve made big strides on gender equality
The Standard|September 20, 2019 • September 20, 2019

The first meeting was held during the Third World Conference on Women held in Nairobi in 1985. The WAMM meetings have since been held every three years and the hosting is rotated among the Commonwealth regions…full story


Affordable housing lessons for Kenya from Colombia
Business Daily|September 20, 2019 • September 20, 2019

In July, President Uhuru Kenyatta announced that he would be launching flagship projects for his Big Four development agenda. Affordable housing is among them…full story


Borrowers in default on 21pc of mobile bank loans
Business Daily|September 20, 2019 • September 20, 2019

At least one in five loans have not been repaid since 2017, compared to 10 per cent for customers who take regular loans. bankers’ lobby says in new report…full story


CBK flags 800 bank accounts as expiry of Sh1, 000 note looms
Daily Nation|September 20, 2019 • September 20, 2019

Banks are on high alert after the CBK flagged Book accounts of individuals who may attempt to clean their illicit money as the rush to exchange the old Sh1, 000 notes enters the home stretch…full story


Old Ksh1,000 Demonetization
• September 20, 2019

The Central Bank is advising members of the public to replace the old Ksh1,000 currency as it will face demonetization after the October l, 2019 deadline…full story


Kenya fourth in Africa as billionaires hit 356
Business Daily|September 20, 2019 • September 20, 2019

About 356 billionaires were living in Kenya last year, placing the country at number four in a ranking of top African cities based on the super wealthy persons…full story here and here


Small traders still shy away from bank loans – survey
The Star|September 20, 2019 • September 20, 2019

High-interest rates, collateral requirements, and complex application procedures deter small businesses In Kenya from accessing credit, according to a new report on SMEs…full story


M-Akiba lessons for broader local bond market reforms
Business Daily|September 20, 2019 • September 20, 2019

In March 2017, the Kenya Government through CBK and Treasury launched M-Akiba, the first mobile-based Treasury bond, designed to achieve dual objectives of encouraging savings and fulfilling the promise of financial inclusion…full story


When Land or House Turns into Bad Debt
Business Daily|September 20, 2019 • September 20, 2019

In 2012, Francis Wanyeki looked at a 10-acre piece of land in Kitengela, tufts of dry grass combed by wind and a beaten path winding into a distance of the picturesque landscape…full story here and here


Dollar remains king in a fickle money market
Business Daily|September 20, 2019 • September 20, 2019

The US Federal Reserve’s two­ day policy meeting ended on Wednesday with markets on edge due to the attack on Saudi Arabia oil production facilities on Saturday and disappointing Chinese economic data…full story


CBK expected to keep policy rate at 9pc as inflation fears subside
Business Daily|September 20, 2019 • September 20, 2019

The Central Bank of Kenya (CBK) is widely tipped to leave its policy rate unchanged when the rate setting committee meets on Monday, even as banks continue rationing credit…full story


The People Daily|September 19, 2019 • September 19, 2019

The World Bank has expressed concern that a large number of children are completing primary school without acceptable basic reading and arithmetic skills…full story


In that garbage lies wealth, youth told
Daily Nation|September 19, 2019 • September 19, 2019

The Kenya Association of Manufacturers (KAM) has challenged youths to take advantage of waste management solutions that are innovative, sustainable and entrepreneurial to generate handsome returns…full story


Boosting the workforce with artificial intelligence
Business Daily|September 19, 2019 • September 19, 2019

We live in interesting times. Today, we have driverless cars, drones delivering medical supplies to rural areas and chatbots screening candidates for job opportunities. The fourth industrial revolution is already here. But as with any technological advance, the story is more complicated than simple displacement…full story


NIC Bank ink loan deal for SMEs
Business Daily|September 19, 2019 • September 19, 2019

Car maker Isuzu East Africa has signed a partnership with NIC Bank that will see Small and Medium Enterprises (SMEs) get up to 95 percent financing on purchase of new trucks and pickups from the auto-dealer…full story


MPs reject plans to remove interest capping rates
Metropol TV|September 18, 2019 • September 19, 2019

The National Assembly through the financial committee has rejected the plans by the Treasury to remove interest capping rates charged initiated by the Central Bank of Kenya…video  


MPs pass Bill protecting loan guarantors’ assets from auction
Business Daily|September 19, 2019 • September 19, 2019

Creditors will have to seize all assets of the defaulting borrower before touching a guarantor’s property after Parliament approved to the law are adopted…full story


Stable regulatory environment key to attract FDI
The Star|September 19, 2019 • September 19, 2019

This article focuses on the importance of a stable and predictable regulatory environment. Specifically, on taxation, in relation to attracting foreign direct investment…full story


Shilling stable despite tension in global trade
The Star|September 19, 2019 • September 19, 2019

The Kenya Shilling is still the most stable currency in Africa despite recent volatilities, according to global investment bank Renaissance Capital…full story


Shilling seen falling against the dollar
Daily Nation|September 19, 2019 • September 19, 2019

It has in recent weeks traded in a relatively tight range to the dollar, largely help ed by record inflows from Kenyans abroad and liquidity mop-up by the Central Bank of Kenya (CBK)…full story


Three pillars that will make Kenyan economy stronger
Business Daily|September 19, 2019 • September 19, 2019

The Kenyan economy is recognized as one of the strongest in Africa…full story


Few firms in Africa plan to expand beyond borders in 2019- survey
The Star|September 18, 201 • September 18, 2019

Less blue chip firms in Africa plan to open new outlets beyond their borders this year compared to last year, according to a survey by audit and tax consultancy firm PricewaterhouseCoopers…full story


Africa CEOs rank Kenya top business destination
Business Daily|September 18, 2019 • September 18, 2019

Kenya has been ranked second best destination for large companies looking for growth prospects in 2019 after the US, even as business leaders grow less certain about expanding outside their home countries…full story


Ex-Central Bank boss urges greater mobile money connectivity
Business Daily|September 18, 2019 • September 18, 2019

The Study, carried out by former CBK governor Njuguna Ndung’u shows that Safaricom’s control of a large proportion of the mobile money market gives it incentive to restrict access to competitors…full story  


Banks on strict time limit over old notes
The Standard|September 18, 2019 • September 18, 2019

Banks will not immediately repatriate to Central Bank of Kenya (CBK) all old Sh1,000 banknotes on September 30 when the currency will stop being a legal tender…full story


State reaches out to the poor in Sh32b inclusion project
The People Daily|September 18, 2019 • September 18, 2019

About 7,500 people a reset to benefit from an economic empowerment programme that will soon be rolled out by the National government…full story


Men dominate in sacco leadership
Daily Nation|September 18, 2019 • September 18, 2019

Leadership in Kenya’s deposit taking Saccos is highly skewed in favour of men, who last year held 2,898 posts or 80 per cent of all senior management positions…full story  


Saccos bad debt provisioning rises to Sh15bn
Business Daily|September 18, 2019 • September 18, 2019

Savings and Credit Co-operative Societies (Saccos) increased their provisions for non-performing loans by 42.5 percent to Sh15.26 billion in the year ended December 2018 driven by adoption of new accounting standard…full story


Loan caps boost micro-lenders’ dig in sector
The People Daily|September 18, 2019 • September 18, 2019

Micro-lenders are banking on the weakening strength among low tier banks to deepen presence in the sector…full story  


Farmers, traders urged to insulate earnings from external shocks
Daily Nation|September 18, 2019 • September 18, 2019

Farmers and traders in the North Rift have been urged to adopt foreign currency management strategies to increase value for their foreign exchange earnings…full story


Dollar steady as market wary of rising Middle East tensions
Business Daily|September 18, 2019 • September 18, 2019

The dollar stood tall against other major currencies yesterday as geopolitical risks encouraged investors to flock to the relative safe-appeal of the greenback before a US central bank policy meeting this week, where a rate cut is widely expected…full story


Shilling stable as the CBK mops up cash
Daily Nation|September 18, 2019 • September 18, 2019

The shilling was stable yesterday as Central Bank of Kenya continued to mop up excess liquidity from the market amid heightened dollar demand from importers…full story


Treasury gets 60 days to pick pensions tribunal team
Business Daily|September 18, 2019 • September 18, 2019

The High Court has ruled that the Treasury Secretary has failed in his duty by not appointing members of Retirement Benefits Appeals Tribunal, two years after the tenure of the previous team expired…full story  


SMEs set to gain from Mauritian bank’s help
Daily Nation|September 17, 2019 • September 17, 2019

Small and medium enterprises in the agricultural, manufacturing, cottage and construction industries in Kisii County will get a boost after the State Bank of Mauritius (SBM) committed to offer support…full story


National Bank takeover by KCB was a wise deal
Daily Nation|September 17, 2019 • September 17, 2019

Let the KCB managers accelerate returns from all stock acquisitions without sacking staff as that will stunt SDG and Vision 2030 targets…full story


50? You are now old enough to go home
The Standard|September 17, 2019 • September 17, 2019

I read a news article last week in The Standard titled, MP wants workers retired at SO, not 60′ The story was later unpacked in an editorial titled, Reducing retirement age won’t cure malaise of unemploy­ment’ I hold a different view from that of the editorial…full story  


Don’t let imposter syndrome derail your business
Business Daily|September 17, 2019 • September 17, 2019

Imposter syndrome is real. It tends to affect high-achievers more than any other psychographic – especially women – and includes creatives like inventors, founders and entrepreneurs…full story  


Entrepreneurs told to embrace online interactions
The People Daily|September 17, 2019 • September 17, 2019

Increased use of smartphones is putting pressure on businesses to transform their service delivery to a mobile-first experience, a study by Deloitte released yesterday reveals…full story  


Equity joins initiative to boost SMEs
The Standard|September 17, 2019 • September 17, 2019

Equity Bank has joined a global lobby that champions Small and Medium Enterprises (SMEs) issues. The SME Finance Forum is a global membership network that brings together financial institutions…full story


CBK mops up Sh56bn to curb market liquidity
Business Daily|September 17, 2019 • September 17, 2019

Central Bank of Kenya yesterday mopped up Sh56.2 billion from the money market through repurchasing agreements signaling expectations of a large injection of shillings into the market…full story


Borrowers in default on 21pc of mobile bank loans
Business Daily|September 17, 2019 • September 17, 2019

The current legal regime of the digital lenders, which is outside the direct remit of the Central Bank, allows providers, both banks and others, to escape the government cap on interest of four points above the CBK-bench.mark interest rate, which now stands at nine percent and caps credit cost at 13 per cent…full story here and here


E-banking still for the rich – survey
The Star|September 17, 2019 • September 17, 2019

The survey shows that an average of 90 per cent of consumers across all income bands transfer money via their mobile operator applications provided by their network providers such as M-Pesa, Airtel Money and T-Kash…full story


What Uhuru should do to make Big 4 a reality
The Standard|September 17, 2019 • September 17, 2019

One day in the late 1990s my friend Raja Maimuna walked into her office in one of Kuala Lumpur’s top banks and found a letter from the Prime Minister of Malaysia summoning her to a meeting in his office at 11 am the same day…full story  


Repealing interest rate cap will slow down economy
The People Daily|September 17, 2019 • September 17, 2019

For some time now, commercial banks in Kenya have been pushing for the repeal of the law capping lending rates. Before the law was enacted, Kenyans witnessed commercial banks increase base lending rates to punitive level in the range of 24 to 30 per cent…full story


Why Kenya is trapped in a debt spiral
Business Daily|September 17, 2019 • September 17, 2019

From effecting jobs cuts to tame a worryingly ballooning wage bill to repaying existing loans, Treasury bureaucrats have considered a raft of options to try and stabilize the country’s debt position. CBK trying to extend the growth of maturity growth…full story here and here


Let Central Bank recycle demonetised 1,000 notes
Daily Nation|September 16, 2019 • September 16, 2019

In the next few days, the older Sh1000 banknote will be obsolete. There are reports that the notes which will not have been changed by October 1 will be incinerated. India demonetised some denominations of rupees…full story


MPs expected to approve changes to rate cap law
Business Daily|September 16, 2019 • September 16, 2019

MPs are expected to approve fresh amendments to the interest rate capping law to comply with a High Court order granting Parliament one year to make the necessary changes according to CBR rates…full story  


Bond turnover halves on rate cap jitters
Business Daily|September 16, 2019 • September 16, 2019

Monthly bond turnover at the Nairobi Securities Exchange (NSE) dropped to the lowest level in nine months in August, driven by investor uncertainty over the direction of rate cap law and the pressure on the shilling…full story


Standard banks on women start-ups
The People Daily|September 16, 2019 • September 16, 2019

Five women entrepreneurs will each receive Sh1 million from Standard Chartered Bank (SCB) to assist them start their businesses, but only after undergoing three months of intensive training at the Strathmore University @iBizAfrica Incubation Centre…full story


Start-up law can speed up youth job creation, enterprise and innovation
Daily Nation|September 16, 2019 • September 16, 2019

Kenya was this month ranked the second-best innovation hub in Sub­ Saharan Africa, having also been rated third in the continent in last year’s World Bank Human Capital Index Report in the productivity potential of youths…full story  


Authority names culprits sitting on employees’ Sacco deductions
Daily Nation|September 16, 2019 • September 16, 2019

Public universities, county governments and some church-based institutions are among errant agencies who withheld Sh2.81 billion deducted from workers’ salaries for remittance to savings…full story  


88pc of NSE share accounts dormant
Business Daily|September 16, 2019 • September 16, 2019

Nearly 90 percent of the 1.6 million share accounts at the Central Depository and Settlement Corporation (CDSC) have not been actively trading in the past two years, the firm has disclosed…full story here  and here


Heated succession politics may hurt economy
The Star|September 16, 2019 • September 16, 2019

Banks have warned that heightened 2022 succession politics may destabilize economic growth and investor confidence in the country. The financial institutions want political stability and peace maintained for the country to remain on track for economic growth…full story  


Rein in micro-lenders to save suffering borrowers
Business Daily|September 16, 2019 • September 16, 2019

According to the bankers lobby group, Kenya Bankers Association, consumers are paying up to 521 per­ cent annualized rate for mobile loans that are selling like hot cakes should control the pay…full story


Interest rate law seen blocking bid to cut fiscal deficit
Business Daily|September 16, 2019 • September 16, 2019

Controls on Joan interest rates may stand in the way of the Treasury’s plan to cut budget deficits by nearly a third this financial year ending June, 2020,according to central bank of Kenya compared with a year earlier, economists at Standard Chartered Bank have said…full story


Bank employees given 6pc salary raise in new deal
Business Daily|September 13, 2019 • September 13, 2019

Employees in the country’s banking sector have received a salary increment of six per cent backdated to March after the Kenya Bankers Association (KBA) and Banking Insurance and Finance Union (BIFU) signed a new collective bargaining agreement (CBA)…full story here and here


SBM Bank launches debit card for firms trading with China
Business Daily|September 13, 2019 • September 13, 2019

SBM Bank Kenya has in partner­ ship with global payments firm UnionPay International said it will roll out a debit card that will ease online transactions for local firms importing goods from China…full story


Stanchart backs women’s start ups
Daily Nation|September 13, 2019 • September 13, 2019

Standard Chartered Bank (StanChart) has set aside h20 million to support this year’s search for women­ led technology start-ups. The progress dubbed Women in Tech incubator is a partnership between the lender and the Strathmore University…full story  


Equity Bank will need more buys in regional growth plan
Business Daily|September 13, 2019 • September 13, 2019

This week Equity Bank disclosed plans for another acquisition in the Democratic Republic of Congo(DRC)…full story


Co-op Bank set to launch five new branches
Business Daily|September 13, 2019 • September 13, 2019

Co-op Bank is set to open five new branches, taking its total physical outlets to 160 despite die industry’s growing focus on digital banking channels…full story


NSSF on spot over Sh5.6 bn in unremitted workers’ cash
The Star|September 13, 2019 • September 13, 2019

NSSF contributors might lose billions of shillings in the ambitious construction and capital projects undertaken by the welfare parastatal…full story  


MPs, take these steps to affordable loans
Business Daily|September 13, 2019 • September 13, 2019

Until recently, the impression was that we were headed for a return to a free lending rates con­trol regime. This, especially after a High Court ruling in March declared the rate-capping law unconstitutional, among others key voices that joined the fray were central bank of Kenya…full story


Kenya to cut budget deficit to 4.8 percent of GDP in 2020/21
The Star|September 13, 2019 • September 13, 2019

Kenya will cut unnecessary expenditure including trips abroad by government officials in an effort to rein In a gaping fiscal deficit, the acting finance minister said on Thursday…full story


Go slow on domestic debt, Treasury told
The Standard|September 13, 2019 • September 13, 2019

Government urged to slow down on domestic borrowing so as to free up credit to the private sector. United Nations Conference on Trade and Development (UNCTAD) Secretary-General Mukhisa Kituyi said yesterday…full story


Kenyans transact Sh2.4 trillion via phones in only seven months
Daily Nation|September 13, 2019 • September 13, 2019

The value of mobile money payments rose by 11.1 per cent to hit Sh2.5 trillion in the first seven months of this year, new data from the Central Bank of Kenya (CBK) shows…full story


Mobile money payments rise on digital banking
Business Daily|September 13, 2019 • September 13, 2019

The value of mobile money payments rose by 11.1 percent to hit Sh2.5 trillion in the first seven months of this year, new data from the Central Bank of Kenya (CBK) shows. An M-Pesa attendant was photographed to illustrate how Kenya has seen a rise in registration of mobile money services users…full story


No real estate bubble about to burst in Kenya
The People Daily|September 13, 2019 • September 13, 2019

Areal estate bubble is an economic cycle characterised by a rapid escalation of property prices followed by a contraction…full story


State borrowing squeezes out SMEs
Daily Nation|September 13, 2019 • September 13, 2019

Local banks has since the advent of the interest rate cap at four percentage points above the central Bank lending rate in 2016 cut down on credit to SMEs, leaving them to rely heavily on owner, family and friends for funding, which is inadequate for them to remain competitive in the market…full story  


Treasury to introduce risk policy for financial markets
The Star|September 13, 2019 • September 13, 2019

The National Treasury Is formulating a new policy that will help mitigate risks occasioned by a downturn in the financial markets…full story


EQUITY’S GLOBAL SCHOLARSHIPS WORTH SH12 BILLION BENEFIT 519 SCHOLARS
The Standard|September 12, 2019 • September 12, 2019

Fifty-six Equity Leaders Program (ELP) scholars have been admitted to various top tier universities this year…full story


Family Bank offers salary loans on phone
Daily Nation|September 12, 2019 • September 12, 2019

Family Bank has launched a facility enabling salaried employees to borrow up to 50 per cent of their salaries via the Pesapap App. The money repayable in a one-off deduction at end of the month will attract a Sh300 or 10 per cent commission on what is borrowed, whichever is higher…full story


Open call: Next generation of social innovators
The Standard|September 12, 2019 • September 12, 2019

The challenges facing the world today are fast moving, intertwined, and multi-layed. Tackling these challenges require a combination of fresh minds and experience, pas­sion and vision, creativity and operational expertise…full story


New unit to recover and manage ill-gotten wealth
The Standard|September 12, 2019 • September 12, 2019

The National Treasury is in the process of setting up a criminal assets recovery fund as part of the fight against financial crimes in the country…full story


For Kenya to prosper, we must fix our politics
The Standard|September 12, 2019 • September 12, 2019

A report commissioned by International Monetary Fund dubbed ‘World Uncertainty Index’ (WUI) released on Tuesday this week showed Kenya was the second most uncertain investment destination globally in 2017…full story


NSSF risks losing billions in property deals, says Auditor
The People Daily|September 12, 2019 • September 12, 2019

In a tale of vicious fraud that has dogged the National Social Security Fund (NSSF) for decades, pensioners risk losing billions of shillings in irregular sale of houses and land belonging to the pensions fund…full story


Bourse to map firms’ gender performance
Daily Nation|September 12, 2019 • September 12, 2019

The Nairobi Securities Exchange PLC ( NSE) has partnered with Equileap and New Faces New Voices (NFNV) to evaluate listed companies’ performance on gender equality at the workplace…full story  


NSE distress board timely
Business Daily|September 12, 2019 • September 12, 2019

The Nairobi Securities Exchange has taken a commendable step in proposing to set up a board where distressed companies can stay as they put their houses in order…full story


Companies embrace mergers to sail through tough times
The People Daily|September 12, 2019 • September 12, 2019

More firms will either merge or be acquired by stronger companies amid indications that some organisations may throw in the towel and let natural attrition take course…full story  


Dollar supported in cautious trade ahead of ECB meet
Business Daily|September 12, 2019 • September 12, 2019

The dollar steadied yesterday as investors’ appetite for risk showed cautious improvement and the yen weakened in the shift away from safe havens, but currencies kept to tight ranges ahead of a series of major central bank meetings over the next week…full story


MPs blast bankers on law repeal
The Standard|September 12, 2019 • September 12, 2019

Legislators have accused commercial banks of trying to blackmail Kenyans in their push to have the law regulating lending rates repealed. While debating amendments to the rate cap law yesterday, the MPs said banks were still hugely profitable even under the rate cap regime…full story


Kenya improves in IMF survey
The Star|September 12, 2019 • September 12, 2019

Kenya’s business environment has greatly improved on political truce between President Uhuru Kenyatta and his rival Raila Odinga, according to an International Monetary Fund document…full story


High taxes on digital economy will hinder growth, UN warris
Business Daily|September 12, 2019 • September 12, 2019

Increasing taxes on internet and mobile money services could be counter-productive, the United Nations has warned…full story


Why Kenya is one of six countries driving Africa digital growth
Business Daily|September 12, 2019 • September 12, 2019

Kenya is among six countries identified as leaders in expansion of Africa’s share in the global digital economy, according to a new research…full story here and here


State plans loan scheme for SMEs
The Standard|September 11, 2019 • September 11, 2019

Struggling start-ups and small businesses are set to benefit from loans through a State-sponsored partial guarantee scheme. According to recent Central Bank of Kenya (CBK), SMEs constitute 98 per cent of all businesses in Kenya…full story


State should keep old Sh1,000 notes after the deadline
The Star|September 11, 2019 • September 11, 2019

Two weeks ago, some Central Bank of Kenya staff, led by the bank’s governor Patrick Njoroge embarked on a countrywide road-show aimed at sensitizing the general public on the need to exchange the old Sh1,000 notes with the new ones before the expiry deadline of September 30. The convoy was first seen in Kwale county […]


Seized graft assets to be invested in State bonds
Business Daily|September 11, 2019 • September 11, 2019

Assets seized from suspects linked to corruption and money laundering – especially goods or property that depreciate or decay fast – will be sold and the money invested in government…full story here and here


CMA and bourse to set up unit to police struggling companies
The Standard|September 11, 2019 • September 11, 2019

The Capital Markets Authority (CMA) and the Nairobi Securities Exchange (NSE) have announced plans to set up a unit to monitor the pe1formance of troubled firms…full story


Kenya stock rises in new wealth ranking
The Standard|September 11, 2019 • September 11, 2019

The Kenyan luxury market generated a $600 billion (Sh62 billion) revenue last year boosted by hotels and safari lodges, a new wealth report shows…full story


Keep interest rates cap firmly in place for ordinary citizens’ sake
The Standard|September 11, 2019 • September 11, 2019

Acting Cabinet Secretary Ukur Yattani backed by Treasury technocrats were appearing before the Parliamentary Committee on Finance and Planning to convince the MPs that the move to cap the rates at four percentage points above the Central Bank rate was hurting the economy, with small businesses hardest hit…full story


Alterative assets offer the better returns option
Business Daily|September 11, 2019 • September 11, 2019

Alternative assets are known as attractive ways of enhancing returns…full story


What Kenya should do in war on poverty
Business Daily|September 10, 2019 • September 10, 2019

According to the Kenya National Bureau of Statistics (KNBS) Integrated Household Budget Survey 2015/2016, the overall poverty headcount rate for individuals at the national level was 36.1 percent implying that 16.4 million individuals lived in overall poverty…full story


Why companies should invest more in women
The Standard|September 10, 2019 • September 10, 2019

The female economy represents a market more than twice the size of India and China combined. By 2028, female consumers will control around $15 trillion of global consumer spending. Locally, Safaricom is paying attention to women-owned business by encouraging them to engage…full story


Deploy your tools wisely to shape the future you desire
Business Daily|September 10, 2019 • September 10, 2019

The writer urges entrepreneurs to deploy their tools wisely to shape the future they desire…full story  


Low insurance penetration a sign of less development
The Standard|September 10, 2019 • September 10, 2019

One simple measure of a country’s level of development is the penetration rate of the insurance industry. It is measured as premiums paid divided by the country’s Gross Domestic Product (GDP)…full story


Greed exposes insurers as sectors dips into 12-year-law
Daily Nation|September 10, 2019 • September 10, 2019

They may be gurus ,at overing people and businesses against risks, but for many Kenyan insurers, greed is the only danger they are struggling to cover themselves against…full story here and here


Implementation of policies is vital for economic growth
Business Daily|September 10, 2019 • September 10, 2019

One of the most significant promising and commonly evoked vistas of the future is drawn from the country’s coruscating potential to develop and implement sound economic policies. It is from this view that many of Kenya’s profound problems, such as unemployment, diseases, and corruption menace could be solved…full story  


Shl,000 note withdrawal puts more pressure on the shilling
Daily Nation|September 10, 2019 • September 10, 2019

The risk of the Kenyan shilling depreciating is high in the short-term due to dollar demand as the Central Bank of Kenya (CBK) removal of old Sh1000 currency notes from the circulation draws to a close…full story


Treasury cuts tax target as layoffs bite, firms’ profit dip
The People Daily|September 10, 2019 • September 10, 2019

Amana Capital Chief Investment Officer Reggie Kadzutu said Kenya has a model that grows output but not income. “Consumption taxes don’t do well if income is not growing. This sheds light on whether GDP growth translates to income growth in Kenya,” he said. …full stor


A peek into the thriving eggs, smokies business
Daily Nation|September 5, 2019 • September 5, 2019

The egg and smokies business is thriving as more Kenyans embrace the favourite on-the-go snacks…full story


Price undercutting sinks Kenya’s insurance reach to a 15-year low
Daily Nation|September 5, 2019 • September 5, 2019

Insurance penetration in the country has dropped to 2-43 per cent of GDP, the lowest in 15 years, in a trend linked to price undercutting in the industry on heightened competition…full story


Strengthen cultural ties to tap into diaspora potential
The People Daily|September 5, 2019 • September 5, 2019

A friend who lives in the United States of America once called with a peculiar request. His son was coming back to Kenya and he wanted me to pick him up at the airport. He was worried that having spent over 10 years in the US, the son may need help to find his way […]


How to use Tala, Fuliza top Google searches
Business Daily September 5, 2019 • September 5, 2019

‘How to pay Tala’ and ‘How to check Fuliza limit’ dominated ‘how to’ search trends on Google in August, underlining the growing appetite for mobile loans in Kenya. ‘How to pay NHIF via M-Pesa’ was third…full story


World Bank calls for redesigning of Helb policies on lending
The Standard|September 5, 2019 • September 5, 2019

The World Bank in their latest report on higher education in Kenya has urged the students financier to review and redesign their policies on lending to ensure that only those qualified to get loans…full story


UFFA turns focus on banks, Saccos
The People Daily|September 5, 2019 • September 5, 2019

The Unclaimed Financial Assets Authority (Ufaa) estimates that some 500,000 organizations are holding assets against the wishes of rightful owners and the law…full story


56 students under Equity enrolled in top universities
The People Daily|September 5, 2019 • September 5, 2019

Fifty­ six students under Equity Leaders Programme (ELP) who sat their Kenya Certificate of Secondary Education (KCSE) exam in 2018, have been admitted to top global universities…full story


NBK deal to hurt KCB in short-term Moody’s
The Standard|September 5, 2019 • September 5, 2019

KCB Group’s financial health will take a hit after its acquisition of struggling National Bank of Kenya (NBK), a rating agency has warned…full story


Portland in mega land sale to stop KCB Sh5.4bn debt auction
Business Daily|September 5, 2019 • September 5, 2019

The board of the troubled East African Portland Cement Company (EAPCC) is seeking share­ holder approval to sell 2,000 acres of prime but idle land in Mavoko, Machakos County to save the firm from being auctioned by KCB Group over a Sh5.4 billion loan…full story here and here


NSE targets to list Ibuka graduate firm in early 2020
Business Daily|September 5, 2019 • September 5, 2019

NSE is targeting to list at least one firm from its Ibuka incubation programme on the main market by end of the first quarter of 2020…full story


Ratings giant upbeat over KCB’s future
The People Daily|September 5, 2019 • September 5, 2019

KCB Group’s acquisition of National Bank of Kenya (NBK) is likely to weaken its financial position in the near term, a leading global provider of credit ratings, research, and risk analysis, has said. Portland in mega land sale to stop KCB Sh5.4bn debt auction…full story


The five key skills African employers are looking for
Business Daily|September 5, 2019 • September 5, 2019

For many markets to work, information must be shared between sellers and buyer, business and their customers, employers and job seekers…full story  


Defuse unemployment time bomb immediately
Business Daily|September 5, 2019 • September 5, 2019

he revelation that Kenyan businesses see the ticking time bomb of unemployment as their biggest threat should serve as a wake-up call to policymakers to invest resourc­es in sectors that generate jobs…full story


Benefits of financial services sector disruption
Business Daily|September 5, 2019 • September 5, 2019

Today more than ever before, financial services sector is at its tip and it is either we disrupt or get disrupted…full story


PICTORIAL: Pension manager pushes for tax waiver
The Standard|September 5, 2019 • September 5, 2019

Zamara Retirement fund Board Chairperson Lucy Kambuni Executive Director James Olubayi during a recent press briefing of the pension funds’s performance in Nairobi…full story  


Costs of owning a home can be reduced: Experts
The Standard|September 5, 2019 • September 5, 2019

The realisation of affordable housing is a head­ ache for many, including the Government. While the costs of owning a home or a house are still beyond the reach of a bigger percentage of Kenyans, experts argue that these costs can be reduced…full story


Shilling edges lower against dollar on high liquidity
Business Daily|September 5, 2019 • September 5, 2019

Shilling edged lower against the dollar yesterday as pressure came in from excess liquidity in the market and hard currency demand outweighing supply , CBK said…full story  


Banks put Sh1bn in mortgage firm
Business Daily|September 4, 2019 • September 4, 2019

Eight local banks led by Barclays Bank and Co-op Bank have committed a total of Sh1 billion in Kenya Mortgage Refinance Company a public-private company that will provide long term funding to financial institutions…full


Contractor sues bank over account ‘fiddling’
The Star|September 4, 2019 • September 4, 2019

A contractor sued Consolidated Bank for unlawfully opening an account in its name. Sketchers Limited, a general contractor further accuses the bank of withdrawing Sh4.3 million deposited In the account from a contract payment…full story


Musau dropped in KCB buyout of NBK
The Standard|September 4, 2019 • September 4, 2019

Wilfred Musau has become the first casualty of the KCB Group acquisition of the National Bank of Kenya (NBK) after he was edged out as managing director…full story


Spire Bank’s other incomes increase
Daily Nation|September 4, 2019 • September 4, 2019

Teachers’ lender Spire Bank’s other income has grown 12 times, boosting declining revenues from issuing loans. Spire Bank, which posted a Sh81.4 million in net profit for the six months to June, springing back from a Sh419.5 million loss in a similar period last year, saw other incomes rise from Sh16 million to Sh198 million…full […]


KCB picks new NBK managing director ahead of takeover
The Star|September 4, 2019 • September 4, 2019

KCB Group Plc has appointed Paul Russo as the designate managing director for the National Bank of Kenya (NSK) ahead of the final takeover later this week…full story


Ease access to university for Kenyans
Daily Nation|September 4, 2019 • September 4, 2019

Most students in public universities were elated after a team of local and international experts in higher educa­tion poured cold water on a proposal by vice-chancellors to increase fees. The team proposed radical reforms such as free university education for the poor. As they grapple with low funding…full story


We found the right investor-and business grew four-fold
The Standard|September 4, 2019 • September 4, 2019

One evening in 2013, Patrick Sigilai’s twin daughters, Sandra and Samantha, came home with a time-sensitive request. They had piles of exercise books that needed to be covered before morning…full story


Support public, private partnership projects
The Standard|September 4, 2019 • September 4, 2019

The huge task for the Government has been the financing of the ambitious but critical development programmes it has put in place to address these demands…full story


Efficient water systems to drive economic growth
The People Daily|September 4, 2019 • September 4, 2019

Continued growth and investment in our country’s largest urban centers is putting a strain on water and wastewater systems…full story


Unemployment biggest risk to business in Kenya
Business Daily|September 4, 2019 • September 4, 2019

Unemployment remains the biggest risk for businesses in Kenya, a newly published World Economic Forum (WEF) survey of business leaders showed…full story here and here


Sacco driven to its knees as members fail to repay Sh7m
The Standard|September 4, 2019 • September 4, 2019

Members of Kiambu-based Kumisa Savings and Credit Co­ operative Sacco fear they could lose their savings after details emerged it had run into cash problems…full story


Sh300 million in fake currency found by the roadside
The Standard|September 3, 2019 • September 3, 2019

A box full of counterfeit currency was found by the roadside in Nairobi on Sunday afternoon. In its annual report for the period ending June 2017, the Central Bank acknowledged the possibility of a transnational fake currency ring in Nairobi and the region…full story


CBK approves acquisition of NBK
The Standard|September 3, 2019 • September 3, 2019

The Central Bank of Kenya (CBK) has approved KCB Group’s acquisition of the National Bank of Kenya (NBK). In the deal, KCB is set to buy NBK’s 100 per cent ordinary shares…full story  


CBK likely to hold key rate despite inflation spike, say analysts
The Standard|September 3, 2019 • September 3, 2019

Central Bank of Kenya (CBK) is likely to retain its key lending rate at nine per cent despite inflationary pressure due to drought, analysts…full story


Equity bank picks Wilson as new COO
The People Daily|September 3, 2019 • September 3, 2019

Equity Group has hired John WIison (pictured) as its chief operating officer. Prior to his appointment, Wilson had been working with the International Finance Corporation as the head of financial institutions in East and Southern Africa…full story


Real estate slump hits investors hard
The Standard|September 3, 2019 • September 3, 2019

Property owners and developers are counting losses as an oversupply of both residential and commercial housing units, coupled with credit crunch erode their earnings…full story


Lenders pray for strategic investors as defaults rise
Daily Nation|September 3, 2019 • September 3, 2019

In ,ms when only fine people out of every 100 disappeared with your money after loaning them, banks and microfinance institutions could afford to dish out cash knowing that good borrowers would cover the difference…full story here and here


Austerity plans tend to be double-edged
The People Daily|September 3, 2019 • September 3, 2019

The austerity plans announced by acting Trea­sury Cabinet secretary Ukur Yattani have seen government freeze hiring for the next three years to curtail the ballooning public wage bill…full story


Regulator warns against investing in women firm
Daily Nation|September 3, 2019 • September 3, 2019

The Capital Markets Authority (CMA) has warned the public against investing in a capital raising venture by a firm targeting women investors…full story  


Kenya varsity funding is wasteful warns WB
Business Daily|September 3, 2019 • September 3, 2019

Annual budget allocation to Kenyan universities should be set on performance targets and it wasteful historical trends, the World Bank has recommended…full story here and here


Creditors gobble up Sh140 billion in three months
The Standard|September 3, 2019 • September 3, 2019

Treasury paid foreign creditors a massive Sh140 billion in three months, piling pressure on the country’s foreign exchange reserves. CBK Governor insisted that the increased inflow in diaspora remittances has little correlation…full story


Banks must boost credit access to spur growth
Business Daily|September 3, 2019 • September 3, 2019

When the interest rate cap law came into effect on September 14, 2016, the expectation was that credit would become affordable to businesses as well as individual borrowers…full story  


Investors eye banking stock to sail through NSE bear run
The People Daily|September 3, 2019 • September 3, 2019

With the current bear run at the NSE 20 share expected to go on till 2020, focus now turns to which stocks to invest in, with market analysts tipping the banking, insurance and manufacturing counters. CBK introduced the intrest cap law…full story  


Reserves at 12-week low
Daily Nation|September 3, 2019 • September 3, 2019

Usable dollars reserves have hit an 12-week low, which the Central Bank of Kenya (CBK) reported could afford Kenya exports worth nearly six months…full story


Shiling weakens
The Standard|September 3, 2019 • September 3, 2019

The shilling weakened yesterday due to increased dollar demand from the energy sector and general goods importers and excess liquidity in the money markets, traders said…full story


Equity Group hires World Bank official as new COO
Business Daily|September 2, 2019 • September 2, 2019

Equity Bank has hired John Wilson, a former manager at the World Bank’s private sector financing arm IFC, as its new Chief Operations Office. His appointment is subject to approval by the Central Bank of Kenya…full story here andhere


Ecobank reduces bad loans to Sh3bn on aggressive recovery
Business Daily|September 2, 2019 • September 2, 2019

Pan African lender Ecobank Kenya has reduced bad loans by 62 percent through recovery and restructuring in the half year to June according to central bank of Kenya…full story


Barclays says it’s ready for brand switch
Business Daily|September 2, 2019 • September 2, 2019

Barclays Bank has spent Sh561 million on 65 percent of the work to rebrand to ABSA, which will start in earnest in the first half of next year…full story


Banks shore up lending in post-interest rates caps era
The People Daily|September 2, 2019 • September 2, 2019

Banks have this year increased lending since interest rates caps were introduced in September ,2016, data from Central Bank of Kenya (CBK) indicates…full story


New survey reveals funding disparities
The Standard|September 2, 2019 • September 2, 2019

A University of Nairobi (UoN) student receives three times more in Government subsidies as a student at the Machakos University College, according to a new World Bank report…full story


Current account deficit narrows to new five-year low
The Standard|September 2, 2019 • September 2, 2019

Increased diaspora remittances helped narrow the current account deficit- to a five­ year low, latest data from Central Bank of Kenya (CBK) shows…full story  


Support small business for economic growth, banks urged
The Star|September 2, 2019 • September 2, 2019

Omar also welcomed Central Bank of Kenya move to push for regulations to allow banks to give sharia-ompiant products to Muslims who don’t take loans…full story


Stanbic’s 88 staff leave voluntarily
Daily Nation|September 2, 2019 • September 2, 2019

Stanbic Bank Kenya has laid off 88 staff under its early retirement scheme that is intended to slash the lender’s payroll expenses…full story  


Treasury slept as tax defaulters got away
Daily Nation|September 2, 2019 • September 2, 2019

For 14 months, disputes over taxes have been piling up after the National Treasury delayed in appointing members to the appeals tribunal, creating a Sh283bn tax hole…full story


Digital finance key growth driver but risks abound
Business Daily|September 2, 2019 • September 2, 2019

A bright new world of opportunity is dawning for consumers and businesses across Africa as digital payment innovation and online commerce bring inclusion and economic growth across the continent…full story


How the Judiciary lack of tribunal sunk Kenya into sh283bn tax hole
Daily Nation|September 2, 2019 • September 2, 2019

The Kenya Revenue Authority has been unable to collect sh283 billion it had demanded from big taxpayers such as betting firms, thanks to a slow paced Judiciary and failure by the National Treasury to put in place a tax tribunal to resolve disputes…full story


Wealthy Kenyans apply to return Sh118bn in assets stashed abroad
Daily Nation|September 2, 2019 • September 2, 2019

Wealthy Kenyans filed to return Sh118 billion worth of assets from foreign countries in the final year of a tax pardon official data shows…full story  


Transnational Bank faces property auction over Sh108m debt
The People Daily|August 30, 2019 • August 30, 2019

The Industrial Court in Mombasa has ordered movable assets of d1e Transnational Bank be auctioned over a debt of Sh 108 million owed to former employees of Diani Reef Hotel…full story


Credit Bank sells stake to Dutch investor
The Standard|August 30, 2019 • August 30, 2019

Credit Bank, which is associated with former Finance Minister Simeon Nyachae, has sold a 22.8 per cent stake to a Dutch social impact lender…full story


NBK shares have only two days to trade on NSE
Business Daily|August 30, 2019 • August 30, 2019

The National Bank of Kenya CNBK) is set to be delisted from the Nairobi Securities Exchange (NSE) by the end of next month as the take­ over bid by KCB Group enters the home stretch…full story  


NBK half-year profit up 19pc to Shl50m
Daily Nation |August 30, 2019 • August 30, 2019

National Bank of Kenya has posted a Sh150 million profit in the half-year ended June 2019 from a Sh282.7 million loss made in a similar period last year…full story


Barclays Bank six months profit flat
Daily Nation|August 30, 2019 • August 30, 2019

Barclays Bank of Kenya (BBK) profit has remained flat, as it re­ ported a Sh3.88 billion after-tax earnings for the period ended June 30, 2019, compared with Sh3.76 billion in a similar period last year…full story


Banks play down impact of old currency recall on their deposits
Daily Nation|August 30, 2019 • August 30, 2019

Local banks will not increase lending to businesses even as they become the big­gest beneficiaries of the ongoing demonetisation through free deposits and increased liquidity. Fresh data from CBK shows currency outside banks dropped from sh22 billion…full story


Develop ICT hubs to create more job opportunities for the youth
Daily Nation|August 30, 2019 • August 30, 2019

Kenya’s internet speed is the fastest in Africa and Middle East. The country has an impressive average of 15mbps (megabytes per second) followed by Israel at 14.4mbps, South Africa had 6.6 mbps, Morroco (5.2 rnbps) and Nigeria (4.1 mbps)…full story


Our mission is to serve all, Nation Sacco CEO says
Daily Nation|August 30, 2019 • August 30, 2019

Daily Nation carried a Question and Answer session with Nation Sacco chief executive Jacob Kimathi on the outlook of financial institution…full story


‘How I Built My Retirement Investment’
Business Daily|August 30, 2019 • August 30, 2019

A lush green facade adorns Convent International Hotel in Nairobi’s Lavington, built by Abednego Kimuyu and his wife Alice. The two are pastors and their hotel only caters for non-alcoholic customers…full story  


Shilling weakens against the dollar
The People Daily|August 30, 2019 • August 30, 2019

The shilling weakened against the dollar yesterday, depreciating by 10 percentage points to 103.45/65 due to end month dollar demand from energy and manufacturing sectors…full story


Microlender pens Sh500m deal
The Standard|August 29, 2019 • August 29, 2019

Musoni Microfinance has signed a partnership clear with the Academic Model Providing Access to Healthcare (AMPATH)…full story


I&M Holdings profit jumps to Sh4.5b
The People Daily|August 29, 2019 • August 29, 2019

I&M Holdings PLC has announced a 17 percent growth in net profit in the half year ended June 30, a leap from Sh3.9 billion to Sh4.5 billion…full story


Equity to review unit
The Standard|August 29, 2019 • August 29, 2019

Equity Group Holdings Plc is weighing whether to keep its financial-technology unit as a separate business after a top executive quit…full story  


Court quashes bid to stop NBK sale pact
The Standard|August 29, 2019 • August 29, 2019

The High Court in Nairobi has thrown out a case challenging the planned buyout of the National Bank of Kenya (NBK) by KCB Group…full story


KCB gets 77pc of total, issued NBK shares
Daily Nation|August 29, 2019 • August 29, 2019

KCB Group Pie has received offers translating to 77.6 per cent of total issued shares in National Bank of Kenya (NBK), three days to the close of the offer…full story  


Banking sector only one thriving in the economy
Daily Nation|August 29, 2019 • August 29, 2019

It’s mid-year again and most Kenyan banks have been announcing half-year results. The profits are astronomical and the picture coming out, once again, is that the banking sector has been profitable…full story


Youth empowerment key in transforming Africa
The Standard|August 29, 2019 • August 29, 2019

In line with its theme of ‘Building Partnerships for the Promotion of TVET for Innovation, Entrepreneurship and Youth Employment in Africa,’ the 2019 CAPA international conference is loaded with activities…full story


African states told to up investment in tech to bridge skills gap
The Standard|August 29, 2019 • August 29, 2019

African countries have been urged to invest more in technology and science to help bridge the skills gap on the continent…full story


Helb releases Sh6.7 billion to undergraduate and TVET loan applicants
The Standard|August 29, 2019 • August 29, 2019

The Higher Education Loans Board has disbursed more than Sh6.7 billion to students ahead of their reporting dates…full story


How co-ops have seamlessly gelled into big supporters of the Big Four
Daily Nation|August 29, 2019 • August 29, 2019

Government declared in 2017 that the nation would for the next five years focus on the Big 4 Agenda to accelerate national development…full story


Saccos face tough time as regulator tightens control
The People Daily|August 29, 2019 • August 29, 2019

The Sacco Societies Regulatory Authority (Sasra) is finalizing plans to control another 300 deposit and  deposit taking savings societies with asset base of at least Sh100 million, as it seeks to enhance surveillance on the multi-billion-shilling sub-sector…full story


Official: Majority of saccos in Kenya poorly regulated
The People Daily|August 29, 2019 • August 29, 2019

Only 175 out of an estimated 5,000 Saccos in the country are regulated by Sacco Societies Regulatory Authority (Sasra), leaving the bulk of them poorly supervised and at the mercy of fraudsters…full story


How KMRC will benefit SACCOs and housing co-ops
Daily Nation|August 29, 2019 • August 29, 2019

SACCOs and housing co-operatives are the main providers of housing finance in Kenya. It is reported that these­ institutions provide 70 percent or more of all housing credit through smaller formal mortgage loans and large amounts of unsecured loans for increment housing development…full story


Sale of Sh50bn bonds sharply raises Q1 borrowing
Business Daily|August 29, 2019 • August 29, 2019

Successful sale of the two re-opened 15 year bonds is set to raise government medium term domestic borrowing in the quarter one of the current fiscal year nearly threefold compared to a year ago…full story  


Varsities ceding assets to schemes right move
Business Daily|August 29, 2019 • August 29, 2019

The building of the assets has come with painstaking effort to enforce rules in the industry. This has been to the benefit of the workers who would otherwise be consigned to old-age poverty, which is still the case in a lot of the cases covered by the schemes…full story


Currency watch
The Standard|August 29, 2019 • August 29, 2019

The shilling was under pressure against the dollar on Wednesday due to increased end month dollar demand from the energy and manufacturing sector amid excess money market liquidity, traders said…full story


NSE profit falls 82pc on sluggish trade
Business Daily|August 29, 2019 • August 29, 2019

The decline in trading at the Nairobi bourse has hurt earnings of the Nairobi Securities Exchange (NSE), which plunged 82 percent from Sh133 million as at June 2018 to Sh24 million in the first half of this year…full story


Stanbic Bank targets traders in deal
The Standard|August 28, 2019 • August 28, 2019

South Africa’s Standard Bank has taken a stake in local fintech firm Nomanini to offer credit to potentially millions of small shop owners and other informal retailers across Africa that have limited access to banking services…full story


PE funds oppose double gains tax
Business Daily|August 28, 2019 • August 28, 2019

Private equity (PE) investors have warned that an increase in tax for property sellers will make the Kenyan market less attractive…full story


Three US bond loans perform below par
Business Daily|August 28, 2019 • August 28, 2019

Three names dominate the US world of bond investing -Jeffrey Gundlach, Dan Ivascyn and Scott Minerd. But funds run by these star investors are lagging their respective benchmarks this year…full story


Treasury push for new rules to bridge tax gap, catch defaulters
The Star|August 28, 2019 • August 28, 2019

Manufacturers have welcomed the move by Treasury to incorporate an Electronic Tax Register across all business operations…full story


Firm woos youth with Platform
The Standard|August 28, 2019 • August 28, 2019

Regional pension services provider Octagon Africa is targeting more youth and informal sector players to save for retirement through a new digital platform…full story


Why African governments need to be digital savvy
The People Daily|August 28, 2019 • August 28, 2019

At a recent conference in Johannesburg, a young college student posed the question: if we are introducing into basic education new subjects to be competitive in tl1e Fourth Industrial Revolution, like coding, why do we have ministers of education that are over 60?…full story


7 budgeting mistakes you might be making
The Standard|August 28, 2019 • August 28, 2019

We all know we should be drawing up budgets it’s personal finance 101 However, sticking to one can be difficult, and this is one of the many reasons people give up on budgeting. However, these difficulties tend to be a result of the following common mistakes – but you can correct course…full story


Shilling under pressure on end-month dollar demand
Business Daily|August 28, 2019 • August 28, 2019

The shilling has come under pressure this week from end month dollar demand and high liquidity, weakening to an aver­age of 103.40 against the dollar in yesterday’s trading The Central Bank of Kenya was in the market to mop up excess funds yesterday, taking out a total ofSh16.95 billion in seven and 14-day repurchase agreements […]


MWANGI: Low saving rates a factor in Kenya’s economic slowdown
Citizen Digital|August 27, 2019 • August 28, 2019

Things are looking bleak for the Kenyan economy and it is expected to continue facing challenges of increased debt servicing burden, reduced export earnings, reduced employment growth and deflating asset prices…full story  


Free varsity education push for poor students
Business Daily|August 27, 2019 • August 27, 2019

Public university students from poor backgrounds should learn for free, a team of experts has proposed in a report submitted to the Ministry of Education…full story


StanChart posts Sh4.7b profit as it claws back bad loan cover
Daily Nation|August 27, 2019 • August 27, 2019

Standard Chartered posted a five per cent growth in after-tax profit of Sh4.7 billion in the six months to June from Sh4-4 billion in a similar period last year…full story


Long queues in banks point to inefficiency
The Standard|August 27, 2019 • August 27, 2019

Around end month, there are two places to avoid like the plague owing to long queues: supermarkets and banking halls. If you are unlucky, you end up queuing in both places…full story


Why businesses must respond to the needs of ordinary Kenyans
Business Daily|August 27, 2019 • August 27, 2019

Each year for the past eight years, Safaricom has released the Sustainable Business Report. This year, we focused on reducing inequalities, guided by the United Nations Sustainable Development Goals…full story  


Treasury CS defends disputed tax system
Daily Nation|August 27, 2019 • August 27, 2019

Treasury Cabinet Secretary has defended the new tax system set to take effect next month. The system is expected to help the Kenya Revenue Authority ( KRA) net Sh3.6 billion more revenue…full story


ON THE TICKER: Most M-Akiba takers below Sh20,000
Business Daily|August 27, 2019 • August 27, 2019

Two thirds of all government bond investors on the MAkiba platform are taking up less than Sh20,000 worth, indicating the large number of Kenyans who were previously locked out of such investments by a high entry barrier…full story  


Embrace environmental sustainability for growth
Business Daily|August 27, 2019 • August 27, 2019

As we wake up to the news of more companies being cramped due to their environmental footprint and non-compliance, one is left to wonder if the role of business is changing…full story


If Kenya doesn’t steady the ship, it will sink to the bottom of the pile
Daily Nation |August 27, 2019 • August 27, 2019

The Jubilee administration, along with the World Bank, UNCTAD and TradeMark East Africa, have prioritised trade facilitation and easing of cargo movement…full story


Entrepreneurship the best way out of unemployment
Business Daily|August 27, 2019 • August 27, 2019

My attention to a Daily Nation article: Dairy farmers leading a dog’s life. He sounded very low and hopeless. I read the article and I was sorely disappointed…full story


Low interest rate Iures Treasury into accepting more debt
Daily Nation |August 27, 2019 • August 27, 2019

The high liquidity has largely helped push down the interest rates investors – largely banks, fund managers and insurance companies- demand to lend to the government through sale of Treasury bills and bonds by the CBK…full story here and here


Industry top earner for bourse investors
Daily Nation |August 27, 2019 • August 27, 2019

East African Breweries, BAT and Kenya Orchards had the biggest ROEs, leading to the high median return for the NSE’s manufacturing sector, according to the August 16 data generated by Dyer and Blair Investment Bank…full story


State lender to take over bank mortgages
Business Daily|August 26, 2019 • August 26, 2019

Secondary lender Kenya Mortgage Refiance Company (KMRC) is set to complete its review of housing loans held by banks this week, paving the way for transfer of middle income groups to its fold…full story


World Bank: Lack of clean water limits country’s economic growth
Daily Nation|August 26, 2019 • August 26, 2019

The World Bank says lack of clean water  limits the economic growth of a country by a third, adding its voice to the debate on pollution that is claiming lives globally…full story


How discount campaigns help firms push up sales
Business Daily|August 26, 2019 • August 26, 2019

In a highly competitive and saturated market, companies usually rely on discounting partnerships as part of their pricing strategy to drive sales…full story  


The continents youthful dynamism set to make this an African century
Daily Nation |August 26, 2019 • August 26, 2019

The future of work may be the defining issue of our time. Africa will fast become the world’s workforce as 375 million young Africans set to enter labour markets by 2030…full story  


Merged agency races to grow exports, boost Kenya’s image
Business Daily|August 26, 2019 • August 26, 2019

Kenya has unveiled a new agency to promote its brand and push for exports across the world…full story  


Credit Bank pledges SMEs more support
Business Daily|August 26, 2019 • August 26, 2019

Credit Bank is stepping its support for small and medium enterprises (SMEs) through its entrepreneurship hub. The initiative seeks to provide entrepreneurs a platform where they can engage, learn and find mentors…full story


UBA banks on SMEs, farmers to accelerate growth, create jobs
Business Daily|August 26, 2019 • August 26, 2019

Pan African lender, United Bank for Africa (UBA) Group sees a better future for SMEs,saying this segment is a pillar of economic growth, not only in Kenya but across the continent…full story here and here


How to own luxury assets without breaking the bank
Business Daily|August 26, 2019 • August 26, 2019

There have been a lot of promotions for the ‘timeshare’ and fractional ownership concept of owning homes and assets…full story


Demonetisation briefing
Business Daily|August 26, 2019 • August 26, 2019

The Kenya Business Guide is to brief the media on demonetisation. The event will highlight Its salient characteristics and give analysis on topical economic and business Issues relating to Kenya…full story


70 percent of bank customers ‘are living beyond their means’
Business Daily|August 26, 2019 • August 26, 2019

The FSD survey, which had the backing of the Central Bank of Kenya (CBK), showed that farmers who form the bedrock of the country’s economy are the worst-hit by the debt crisis. Treasury defends KCB’s bid for NBK after opposition from MPs…full story here and here


Mobile cash drives financial inclusion but hurdles linger
Business Daily|August 26, 2019 • August 26, 2019

Mobile money banking in Kenya has shot up to 79 per cent, literally giving mainstream banks a run for their money…full story


Raising capital gains tax could put off investors, warn experts
The Standard|August 26, 2019 • August 26, 2019

A group of financial consultants have asked Parliament not to ratify a proposal by Treasury to increase Capital Gains Tax ( CGT) to 12.5 per cent…full story  


We don’t need constitutional change to fix our economy
Business Daily|August 23, 2019 • August 23, 2019

Africa Report, a magazine I enjoy, identified seven Kenyans in its first-ever list of the 100 most influential Africans…full story


How mobile infrastructure sharing can win for customer
Business Daily|August 23, 2019 • August 23, 2019

There is a strong case for infrastructure sharing in the tele­communications industry. For starters, players in the sector already share resources in the broad­ band space by buying each other’s redundancy…full story


Reskilling: The new trend in recruiting in the modern world
Daily Nation|August 23, 2019 • August 23, 2019

Ever stopped to think about what could happen if the skills you currently possess were to become outdated? If your current abilities were to be rendered obsolete, how would you survive?…full story


Co-op Bank half year net profit grows by 6pc to Sh7.5 billion
The People Daily|August 23, 2019 • August 23, 2019

Non-interest income greatly contributed to Co-operative Bank Group’s 5.6 per cent in net profit or Sh7.5 billion in the six months ended June 30…full story  


Mayfair ups its capital to Sh2.23 billion
Daily Nation|August 23, 2019 • August 23, 2019

Mayfair Bank shareholders increased the Tier Three lender’s capital by Sh411.25 million between June 2018 and June this year to Sh2.23 billion, according to the company’s half year results published on Wednesday…full story


Banks rake in Sh85bn profit in six months
Business Daily|August 23, 2019 • August 23, 2019

Commercial banks pretax profit rose by 12.6 percent to a record Sh85.8 billion in six months to June, signaling the lenders resilience in a tough economy that has seen multiple companies announce a sharp decline in earnings…full story here and here  


New Google app rules to deny borrowers quick mobile loans
The Star|August 23, 2019 • August 23, 2019

Google now wants all mobile loan apps using its Play Store platform to ensure the repayment period for loans is not below 60 days. Central Bank of Kenya (CBK) governor Patrick Njoroge has insisted that digital lenders are worse than village shylocks…full story


Banking on youth to spur economy through SMEs
The People Daily|August 23, 2019 • August 23, 2019

f n an article shared widely on social media recently, hundreds of university graduates showed up for interviews at Nairobi’s EKA hotel which had advertised some five vacancies…full story  


Why developers are worried over 12.5pc capital gains tax
The People Daily|August 23, 2019 • August 23, 2019

Real Estate developers have raised a red flag over the government’s intention to raise Capital Gains Tax ( CGT) from five per cent to 12.5 per cent, saying the move will further dampen the property sector…full story


Negotiate tax issues for investor confidence
The Star|August 23, 2019 • August 23, 2019

Over the last couple of months, the government has been cracking down on suspected tax evaders and their associates at KRA. Before this betting companies were up in arms over the cancellation of their licenses…full story  


17firms fall below sh5 per dahre in NSE bear run
Business Daily|August 23, 2019 • August 23, 2019

Seventeen companies listed on the Nairobi security exchange NSE have seen their share prices fall below Sh5 as the bear run continued due to corporate governance weaknesses a soft economy and poor financial performance precipitated by over indebtedness…full story  


NSE 20 share index falls below 2500 points
Business Daily|August 23, 2019 • August 23, 2019

The Nairobi securities Exchange 20 share index slipped below 2500 points on Wednesday deepening the bear run at the bourse as the prices of key counters remained stuck at decade lows…full story


EAC single currency experiencing shortfalls: Lots of monetary expansion still needed
CNBC Africa|August 21, 2019 • August 22, 2019

East African Community (EAC) member states are set to start discussions on revising the timelines for the start of the single currency regime, after realising that it would be difficult to set up the necessary institutions and achieve the set macroeconomic benchmarks with only five years to the 2024 deadline…video


State currency order returns Sh25b in ‘mattress accounts’
The Standard|August 22, 2019 • August 22, 2019

Within a month after Central Bank of Kenya (CBK) Governor Patrick Njoroge announced plans to phase out the old Sh1,000 banknotes, a massive Sh25 billion resurfaced into circulation…full story


CBA first-half net profit up 3pc to Sh2.4b
The People Daily|August 22, 2019 • August 22, 2019

Commercial Bank of Africa (CBA)’s net profit rose to Sh2.4 billion in the first-half of 2019, a 2.8 per cent improvement from Sh2.3 billion posted in a similar period in 2018…full story


Prime Bank’s focus on bonds boosts profits 32pc
Business Daily|August 22, 2019 • August 22, 2019

Prime Bank has posted a Sh 1.25 billion net profit for the six months ending June, a 32 percent jump from Sh939.37 million last year over increased lending to the government…full story  


Sidian claws back from losses on loans growth
Business Daily|August 22, 2019 • August 22, 2019

Sidian Bank has escaped loss-making territory by posting a Sh43.5 million profit for the six months to June from a loss ofSh123.6 million in a similar period last year…full story    


NIC posts Sh1.9b profit in half year
The People Daily|August 22, 2019 • August 22, 2019

NIC Group, which is in the process of merging with Commercial Bank of Africa (CBA) Ltd, recorded a profit after tax of Sh1.9 billion during the first half of the year, ending June 30, 2019. This represents a year-on­ year growth of four percent…full story


Spire Bank seeks lifeline to remain afloat as cash crunch bites
The People Daily|August 22, 2019 • August 22, 2019

Spire Bank is scouting for a partner to inject substantial capital to keep its operations afloat…full story


Banks lobby for risk-based lending, shun rate cap
The Star|August 22, 2019 • August 22, 2019

Banks will maintain their lending rates in case the interest rate caps is repealed, its umbrella association said. Banks have opposed the rate cap law that puts the ceiling at four per cent above the Central Bank Rate and are instead pushing for introduction of risk-based lending…full story  


Online platform makes buyer-seller interactions easier
Business Daily|August 22, 2019 • August 22, 2019

Her goal was to come with an online platform where buyers and sellers of goods interact conveniently. It is for this reason that Charles Ivia, a third year student at Kenyatta University, developed two mobile applications…full story


Legislators criticise NSSF hiring process
The People Daily|August 22, 2019 • August 22, 2019

National Assembly Labour and Social Welfare Committee has questioned why top management at the National Social Security Fund (NSSF) have been serving in acting capacity for years…full story


Tala raises Sh 1 1 .3b to boost investment
The People Daily|August 22, 2019 • August 22, 2019

Tala, a free finance app in the Google Play store in Kenya yesterday announced a $ 110 million (Shi 1.3 billion) investment to accelerate financial inclusion around the world…full story


Buying off-plan? 4 ways to protect your cash
Daily Nation|August 22, 20 • August 22, 2019

Off-plan purchase relates to property ownership through installment payments. Simply put, you finance the construction of your own unit over time…full story  


Same-day trading at NSE slated to start by year-end
Business Daily|August 22, 2019 • August 22, 2019

The planned switch to same day shares transactions at the Nairobi bourse is finally set to start before year, end, the Nairobi Securities Exchange (NSE) said yesterday…full story


NSE 20-Share Index falls below2,500 points as bear run deepens
Business Daily|August 22, 2019 • August 22, 2019

The Nairobi Securities Exchange (NSE) 20-Share Index slipped below 2,500 points yesterday, deepening the bear run at the bourse as prices of key counters remained stuck at a decade low…full story here and here


How review of the NSSF Act will benefit employees
Business Daily|August 22, 2019 • August 22, 2019

Managing income and expenditure risks in old age is vital, especially when one retires from active service. As employees age, economic volatility increases since traditional support systems become weaker…full story


Youth pension uptake on the rise
The Standard|August 22, 2019 • August 22, 2019

More young Kenyans are now saving for retirement, a new sur­vey shows. According to the report by Kenindia Assurance, there has been a growing appetite for pension, especially among the youth, which has seen the industry total pension funds under guaranteed arrangement grow from Shl63 billion to 183.7 billion…full story


Lawmakers tell off banks over push to kill rate cap
The Standard|August 22, 2019 • August 22, 2019

MPs yesterday accused banks of fronting their own selfish interests in their push for the repeal of the law capping interest rates…full story


Safaricom injected Sh601b to economy
The Star|August 21, 2019 • August 21, 2019

Safaricom Plc contributed Sh601 billion to the Kenyan economy in the financial year ending March 2019. The contribution was helped by economic value made by the tele­ communication firm which grew to Sh317.61 billion from Sh288.59 billion…full story


TradeMark in Sh464m grant to help firms get trade deals
Business Daily|August 21, 2019 • August 21, 2019

TradeMark East Africa (TMEA) has pumped Sh464 million into two lobby groups to help the private sector grow trade and provide investment opportunity-Alliance ties for Kenyan firms…full story


High interest doubles Family Bank earnings
Daily Nation|August 21, 2019 • August 21, 2019

Family Bank’s net profit for the first six months of 2019 more than doubled to Sh364. 4 million, driven by growth in interest and non-interest income as operating costs reduced…full story


Equity diaspora revenue rises to Sh66b
The Standard|August 21, 2019 • August 21, 2019

Equity Bank has posted a 28 per cent growth in diaspora remittances in the first half of the year to Sh66.6 billion from Sh52.2 billion…full story


Lenders tap cash from diaspora
Daily Nation|August 21, 2019 • August 21, 2019

Banks tapping growth in diaspora cash are aligning partnerships with foreign payment service providers to net the changing flow of dollars into the country. The trend was only bucked by money from the rest of the world, which climbed from $216 million to $387 million, according to Central Bank data…full story


Treasury ups domestic debt target to Sh300 billion
Business Daily|August 21, 2019 • August 21, 2019

The Treasury has raised the domestic borrowing target for the current financial year that started in July by Sh16.8 billion, hinting at a possible shortfall in projected tax revenue…full story here and here


Here are three ways to stay afloat after leaving that job
Business Daily|August 21, 2019 • August 21, 2019

The number one pick in the 2019 NBA draft Zion Williamson is set to earn an annual salary of about Sh1 billion – almost double the amount earned by Ben Simmons, the first player drafted in 2016…full story  


Shilling steadies
The Standard|August 21, 2019 • August 21, 2019

The shilling held steady against the dollar yesterday due to thin hard currency and from Importers and some banks cutting their long dollar position to meet the central bank’s shilling reserve ratio requirements, traders said…full story  


USAid, Kuscco line up Sh750m for societies
Business Daily|August 20, 2019 • August 20, 2019

The Kenya Union of Savings & Credit Co-operatives (Kuscco) has secured Sh750 million for on-lending to Agri-based societies through a USAid Cooperative Development Programme (CDP)…full story


Regulator caps private stake in mortgage firm
The Standard|August 20, 2019 • August 20, 2019

The Central Bank of Kenya (CBK), in new rules that will guide operations of the mortgage body, capped the share­ holding of the private entities in KMRC at 25 per cent each…full story


SMEs growth factors go beyond financing
Business Daily|August 20, 2019 • August 20, 2019

In Kenya the SME’s have grown to a highly vibrant and dynamic sector of the Kenyan economy over the last few decades, this is according to Susan Situma, Head of SME at Barclays…full story


Risk to global growth increasing -AFDB
The Star|August 20, 2019 • August 20, 2019

The U.S. -China trade war and uncertainty over Brexit pose risks to Africa’s economic prospects that are ‘increasing by the day,’ the head of the African Development Bank (AfDB ) told Reuters.NSE stays in the red for third week in a row as foreign investor sales continue…full story


African trade down 14.4 per cent -AfDB
The Star|August 20, 2019 • August 20, 2019

Intra-African trade remained low at 14.4 per cent in 2018, with the continental countries trading more with the Asia, according to a review by the African Development Bank (AfDB) …full story


Why Africa is now the place to pump cash
Daily Nation|August 20, 2019 • August 20, 2019

Africa’s economic outlook is on the up with the African Development Bank in its 2019 African Economic Outlook report forecasting sustained rise in the average GDP (gross domestic profit) growth rate for the continent  from an estimated 3.5 per cent in 2018 to four per cent this year and 4.1 per cent in 2020…full story


Kenyans are not getting value for tax: World Bank
Business Daily|August 20, 2019 • August 20, 2019

Kenyan tax payers are not getting full value for the hundreds of billions of shillings spent on development projects, a new World Bank report has stated, arguing that countries running similar budgets have achieved more than Kenya…full story here and here


Poor pay to workers starves taxman of much-needed cash
The Standard|August 20, 2019 • August 20, 2019

Salaries for most workers stagnated last year, especially in the private sector, giving the most probable reason that the average Kenyan is feeling poorer…full story


Riddle of jobs boom in export zones amid gloom in economy
The Standard|August 20, 2019 • August 20, 2019

If your perception of Kenya’s labour market is that of a glass half empty, you could blame it on recent media headlines…full story


Dusty storm sweeps through Sh2trn stock market
Daily Nation|August 20, 2019 • August 20, 2019

There is, dusty wind blowing up a storm through the dessert that is the floor of the Nairobi Securities Exchange…full story here and here


Debts took a third of July revenue
The Star|August 20, 2019 • August 20, 2019

Kenya spent a third of its domestic revenue collected in the first month of 2019/20 to repay debt, the statement of actual revenues and net exchequer issues as at end of last month shows…full story


ENSURING YOUR DEPENDANTS ENJOY YOUR HARD WORK
Business Daily|August 20, 2019 • August 20, 2019

It came as a surprise to many when the Unclaimed Financial Assets Authority (UFAA) recently revealed that more than Sh10 billion remains unclaimed…full story  


I&M Bank in Sh300 million debt dispute with Hi-Plast Limited
The Star|August 19, 2019 • August 19, 2019

Hi Plast Company firm went to court to oppose planned auction of the prime land slated for Tuesday…full story


AfDB warns on growing daily risks
The Standard|August 19, 2019 • August 19, 2019

The US-China trade war and uncertainty over Brexit pose risks to Africa’s economic prospects that are increasing by the day, the head of the African Development Bank (AfDB) told Reuters…full story  


Bankers lobby releases new strategic plan
Business Daily|August 19, 2019 • August 19, 2019

Kenya Bankers Association (KBA) unveils its strategic plan that will run from 2019 to 2023.CBK governor is expected to attend…full story


BoA cuts lending, saves on cost to double earnings
Business Daily|August 19, 2019 • August 19, 2019

Tighter lending and cutting on interest earning deposits has helped Bank of Africa (BoA) double its net profit for the six months to June from 5h55 mil­lion to Sh114 million…full story


NIC, CBA bank merger exempted from paying millions in share sale tax
Business Daily|August 19, 2019 • August 19, 2019

The Treasury has exempted the merged CBA and NIC bank from paying share transfer tax running into hundreds of millions of shillings…full story  


KCB worker count falls by 240 as more cuts loom
Business Daily|August 19, 2019 • August 19, 2019

KCB Group’s employee head­ count fell by 240 in the six months to June 2019, another low in seven years, with CEO Joshua Oigara saying the trend was inevitable given banks’ increased investment in digital outlets…full story


Banks exploit policy gap to inflate short-term loan rates
The People Daily|August 19, 2019 • August 19, 2019

Higher rates of default by borrowers are pushing up the cost of short­ term debts that include credit cards and mobile loans. A top tier bank has already written to its customers alerting them of an increase in the interest it charges…full story


Interest on current loans to remain
Daily Nation|August 19, 2019 • August 19, 2019

Banks say if law capping rates is repealed Central Bank of Kenya (CBK), only new borrowers will be affected in line with their risk…full story


Tala to educate on responsible credit
Daily Nation|August 19, 2019 • August 19, 2019

Tala, a digital lending app, has begun tours across the country to educate the public on responsible borrowing practices as it marks its fifth- year anniversary…full story


Endless debt trap must be addressed quickly
Business Daily|August 19, 2019 • August 19, 2019

Another study by FSD-Kenya last year had found about 6.5 million Kenyans were digital borrowers with 31 percent using the cash on betting platforms…full story  


How delayed State spending, pending bills could derail Big Four agenda
Business Daily|August 19, 2019 • August 19, 2019

A pile-up of pending bills, poor absorption of development funds as well as rising salaries and allowances risks stalling the implementation of President Uhuru Kenyatta’s Big Four Agenda, an analysis by the World Bank shows…full story here and here  


More Kenyans shift to mobile savings accounts
The People Daily|August 19, 2019 • August 19, 2019

More Kenyans are saving cash in mobile money accounts compared to traditional bank accounts; a FinAcess study released recently shows…full story


Victoria Bank secures Shl billion funding
Daily Nation|August 15, 2019 • August 15, 2019

Victoria Commercial bank has secured a Shl billion five-year loan from Swedish Investment Fund for Emerging Markets (SIFEM) as it intensifies debt­ funded growth…full story


US imports prices rise sharply July
Business Daily|August 15, 2019 • August 15, 2019

The report from the Labour Department yesterday suggested inflation could remain moderate despite a broad increase in consumer prices in July, which could allow me Federal Reserve to cut interest rate further to limit the damage to the economy from trade tensions…full story


Tough times for giant trade union
The People Daily|August 15, 2019 • August 15, 2019

A giant trade union is having a difficult time as a splinter group seems to enjoy government support. The splinter group, which is said has received massive funding from a State department, has already convinced a number of members to quit the giant union…full story


Upper Hill economic zone poised for growth
The Standard|August 15, 2019 • August 15, 2019

Nairobi’s Upper Hill District is a slightly elevated highland area of the city that borders the hot and dry Kapiti plains. In the early 20th Century, it was established as a serene residential area, then known as ‘The Hill area,’ for senior railway staff among other civil servants…full story


Proposed law seeks to support saccos
Daily Nation|August 15, 2019 • August 15, 2019

The county government of Nakuru has drafted a regulation that seeks to support saccos and co-operative movements to help farmers better tap market opportunities and boost their income…full story


Euro bond yields drop to new lows
Business Daily|August 15, 2019 • August 15, 2019

Government borrowing costs in Germany fell to record lows yesterday as global recession fears grew, with the US Treasury yield curve inverting for the first time since 2007 and Germany reporting its economy shrank in the second quarter…full story


Nurturing an investor-friendly regulatory environment
The Star|August 15, 2019 • August 15, 2019

Kandie said that it is now widely accepted that Public Private Partnerships (PPP’s) are necessary to help Kenya meet its development targets…full story


US data firm set in Kenya to boost digital economy
The Star|August 14, 2019 • August 14, 2019

Salix Data Africa, an ICT solutions company yesterday launched their company In Kenya which will help firms effectively manage their data…full story


New measures will make payment of tax refunds swift and hassle free
The Standard|August 14, 2019 • August 14, 2019

A taxpayer could end up in a refund position because of many factors. The key and the most common factor that puts them in this position is excess input tax resulting from zero-rated supplies…full story


Nakuru Sh200m loan to be probed
Family Bank|August 14, 2019 • August 14, 2019

A Senate watchdog committee has recommended the Ethics and Anti-Corruption Commission investigates former Nakuru Governor Kinuthia Mbugua over a Sh200 million bank Joan that cost the taxpayer about Sh50 million in interests and penalties…full story


Ignore the ignorant MPs and support NBK takeover deal
Daily Nation|August 14, 2019 • August 14, 2019

Here’s my take on the efforts of the Parliamentary Committee on Finance, Planning and Trade to block the planned takeover of the National Bank by the Kenya Commercial Bank…full story  


Police probe inside job in sacco hacking
Daily Nation |August 14, 2019 • August 14, 2019

Detectives are looking into the possibility that Sunday’ s hacking of a Nyeri-based Biashara Sacco Society was an inside job…full story


WB labels Kenya manufacturing growth ‘mediocre’
The Standard|August 14, 2019 • August 14, 2019

The World Bank has described the pace of growth in manufacturing jobs in Kenya as mediocre, pouring cold water on the country’s ambitious plan to create over a million new jobs by 2022…full story


LENDERS FETED AT THE 2019 FINANCIAL INCLUSION AWARDS
The Star|August 14, 2 • August 14, 2019

The lending industry gathered on Friday for the Financial Inclusion Awards and Gala Dinner 2019, held at Crown Plaza Hotel. This is an annual event that aims to recognise, celebrate and award exemplary players making great contributions towards the growth and development of Kenya by easing financial accessibility…full story


Your ABC to buying stocks cheaper during the sell-offs
Business Daily|August 14, 2019 • August 14, 2019

On Friday, the index slipped back into correction territory (shed 40 points) for the third time this year following a loss of confidence across the board…full story


Tough regulations for firms joining commodity exchange
The Star|August 14, 2019 • August 14, 2019

Companies looking to expand their activities to the commodities exchange will have to register as separate entities, according to the Capital Market Authority…full story


NSE stays in the red for third week in a row as foreign investor sales continue
Business Daily|August 14, 2019 • August 14, 2019

The Nairobi Securities Exchange (NSE) remained in the red for the third consecutive week as sales of blue chip stocks by foreign investors weighed down overall performance of the course…full story here and here


Youth’s exuberance is an underrated national asset
The Standard|August 13, 2019 • August 13, 2019

Beyond land, oil and other minerals, the other precious but underrated national asset is the youth’s embrace. Young people are seen as embracing M-pesa more than the old…full story


Failing to honour tax obligations will hurt your business
Business Daily|August 13, 2019 • August 13, 2019

Recently while waiting to be served in a shop I overhead the seller arguing with a customer who was bargaining for bulk purchase in low tones…full story


Tala tips clients on good money habits
Business Daily|August 13, 2019 • August 13, 2019

Mobile-based online lending firm Tala has begun touring the country to educate customers on responsible borrowing practices…full story


How student loans are more of a debt trap for job seekers
The Standard|August 13, 2019 • August 13, 2019

The Higher Education Loans Board was a good idea. It was established in 1995 to offer loans to bright students who have been awarded admission to the universities but could afford to pay for themselves…full story


Fan the fire of fledgling economic recovery
The People Daily|August 13, 2019 • August 13, 2019

There is an economic revival in the country after almost three bad years. Between 2016 to 2018, the economy was comatose, with disastrous results for businesses and Kenyans…full story  


Toxic mix of high inflation, unemployment on the way
Business Daily|August 13, 2019 • August 13, 2019

The Kenyan economy is starting to buckle under the weight of weak economic policies. The latest CBK estimate of Growth Domestic Product shows that economic growth is slowing down…full story


Local vehicle assembly plants- a boon to economy
The Standard|August 13, 2019 • August 13, 2019

The significance of manufacturing to any economy globally cannot be understated…full story  


Oil exports will turn around our fortunes
The Standard|August 13, 2019 • August 13, 2019

During a recent Cabinet meeting, President Uhuru Kenyatta announced that Kenya had joined the league of oil exporting countries after striking a deal of 200,000 barrels worth Sh 1.3 billion…full story  


Lenders pay lowest rates on savings in 32 months
Daily Nation|August 13, 2019 • August 13, 2019

Economic indicators from Central Bank of Kenya (CBK) show that interest banks paid on customer savings continues to trend downwards even as lending rates on loans fell marginally…full story


Stock markets down as protests in Hong Kong see airport shut
Daily Nation|August 13, 2019 • August 13, 2019

Global stock markets dropped Monday as escalating protests in Hong Kong forced the closure of the financial hub’s airport, adding geopolitical worries to ongoing trade war tensions…full story


Anxiety as Sacco members advised to withdraw money
The Star|August 13, 2019 • August 13, 2019

Biashara Sacco Society chairman Kamau Njamuku has trashed a message sent to some of its members advising them to withdraw their money before the sacco is closed…full story


Forex reserves cover slips below 6 months
Daily Nation|August 13, 2019 • August 13, 2019

The official forex reserves held at the Central Bank of Kenya (CBK) have for the first time in four weeks dropped below six months of import cover, with a further drop likely next week when the country pays interest on the 2018 Eurobond…full story


AfDB approves 98 million for Ethiopia-Djibouti road
Business Daily|August 9, 2019 • August 9, 2019

Africa Development Bank approved U.S. $98 million in funding for road transport corridor linking Ethiopia and Djibouti…full story


South African regulator punishes Bank of Baroda
Business Daily|August 9, 2019 • August 9, 2019

A South African regulator has imposed a reduced penalty of 400,000 South African rand ($27,000) on the local unit of India’s Bank of Baroda for noncompliance with certain provisions of the Financial Intelligence Center Act (FIC)…full story


Africa focus pays off for Standard Bank
Business Daily|August 9, 2019 • August 9, 2019

South African lender Standard Bank shrugged off the impact of a faltering economy in its home market as its extensive operations across the continent helped the company to a 5 per cent increase in first half profit…full story


Stanbic defends plan to lay off staff
Daily Nation|August 9, 2019 • August 9, 2019

Stanbic Bank Kenya chief executive Charles Mudiwa (right) with head of human capital Darliah Mbugua during the bank’s half-year results briefing at The Villa Rosa Kempinski in Nairobi yesterday…full story


Reduced payroll taxes hands workers sh6 billion gain
Business Daily|August 9, 2019 • August 9, 2019

Workers got a benefit of sh 6.13 billion in lower payroll taxes after the pay as you earn bands were expanded…full story


More agony for unpaid medics as banks close in
The Standard|August 9, 2019 • August 9, 2019

More than 350 nurses, clinicians and doctors have expressed their frustration with the county health department after their salaries started reducing before vanishing altogether. The medics say their pay slips have been indicating Sh00.00 salaries since April, with some reflecting negative balances…full story  


Nuclear energy will spur Kenya’s economic growth
The Standard|August 9, 2019 • August 9, 2019

World Bank report on ease doing business shows Kenya improved from position 80 in 2018 to 61 in 2019. From the Economic Survey Report 2019, Kenya’s real Gross Domestic Product GDP) expanded by 6.3 per cent in 2018 up from 4.9 per cent in 2017…full story


Youth empowerment best bet for Kenya’s economic revolution
The Standard|August 9, 2019 • August 9, 2019

Global business titan Michael Bloomberg is a fan of small enterprises. Despite watching over an empire larger than the GDP of many countries, Bloomberg recognizes that small and medium sized businesses are key drivers for creating quality jobs…full story  


Eurobond raises Kenya’s public debt to sh 5.8 trillion
Business Daily|August 9, 2019 • August 9, 2019

The sh210 billion Eurobond signed in may contributed to a sharp increase in the country public debt load to June a new CBK report…full story


Treasury defends KCB’s bid for NBK after opposition from MPs
The Star|August 9, 2019 • August 9, 2019

Treasury has defended the multi-billion shilling takeover of National Bank of Kenya ( NBK) by KCB, a day after the National Assembly opposed the move…full story


Brokers win first round in insurance clients’ cash case
Business Daily|August 8, 2019 • August 8, 2019

The High Court has offered a major reprieve to insurance agents and brokers by suspending a new law that barred them from receiving customers’ premium payments…full story here and here


Lender told to check customers
The Standard|August 8, 2019 • August 8, 2019

The Netherlands’s Central bank has ordered ABN AMRO to check all of its retail customers for possible financial crimes…full story


CEO exit leaves HSBC with worrying gap at top
Business Daily|August 8, 2019 • August 8, 2019

John Flint’s abrupt departure from HSBC leaves a worrying gap at the top. The veteran banker has parted company with the focused lender after a mere 18 months at the helm, with little explanation…full story


Suspect in Faulu Bank fraud case charged
Business Daily|August 8, 2019 • August 8, 2019

A fifth suspect has been charged in the Sh150 million fraud case against three employees of Faulu Microfinance Bank involving the irregular sale of a developed commercial prop­erty owned by a city trader…full story


Standoff as MPs reject KCB’s buyout of NBK
Business Daily|August 8, 2019 • August 8, 2019

Parliament has ordered the Treasury and NSSF to reject KCB’s proposed buyout of the cash-strapped National Bank of Kenya (NBK), throwing into confusion the already under way multi-billion shilling transaction…full story here and here


Bomb raid survivors set to miss out on Sh430 billion payout
Daily Nation|August 8, 2019 • August 8, 2019

As part of the office support staff at Barclays Bank, then situated on the fourth floor of the Co-operative Bank building, Ms Adhiambo was hard at work, preparing tea for employees, when the attackers struck on the fateful morning…full story


How digital platforms help retailers deepen revenues
Business Daily|August 8, 2019 • August 8, 2019

Economists say improving efficiencies in the informal sector, which accounts for as much as 40 per cent to 70 percent of many African economies, is potentially a hugely rewarding opportunity for any country that can get it right. This is what B2B platforms promise to offer…full story


Cash-rich State firms now spared privatization axe
The Standard|August 8, 2019 • August 8, 2019

The Privatization Commission has struck off some State owned entities from the list of those that had been earmarked for sale…full story


Private equity and mezzanine financing answer to SME issue
The Standard|August 8, 2019 • August 8, 2019

This law sought to set the maximum lending rate at no more than four per cent above the Central Bank rate. With this regulation, banks became more risk averse towards borrowers since they could not charge higher rates to compensate them for the additional risk they were taking…full story


How companies can transform financial service experiences
Business Daily|August 8, 2019 • August 8, 2019

In the first week of every month, my inbox sees a flurry of automated communications as the banks I patronize, send through monthly statements which are promptly stored for future reference…full story


Workers gain Sh6 billion in reduced payroll taxes
Business Daily|August 8, 2019 • August 8, 2019

Workers got a benefit of Sh 6.13 billion in lower payroll tax­ es after the pay-as-you-earn (PAYE) bands were expanded and the minimum taxable income raised…full story


Foreigners hold over 21bn shares at NSE
Business Daily|August 8, 2019 • August 8, 2019

Capital Markets Authority (CMA) data on investor profiles at the NSE shows that foreign investors – who held 19.9 per cent of the issued shares at the end of last year -now account for 20.9 percent, equivalent to 21.3 billion shares…full story


Jobs, salary freeze cut payroll taxes growth
Business Daily |August 7, 2019 • August 7, 2019

Payroll taxes for the year ended June rose at the slowest pace in three years, pulled back by sluggish growth in new jobs and near stagnant salaries in corporate Kenya…full story


Enforcing payment of suppliers long overdue
Business Daily |August 7, 2019 • August 7, 2019

Proposals to amend the law and impose a fine of up to Sh10 million on public and private firms that failed to pay suppliers within agreed timelines are proper and could save many businesses from financial distress…full story


Workers suffer as Treasury withholds Sh1bn pay for injury
The Star |August 7, 2019 • August 7, 2019

You are likely to walk home with nothing in case you sustain an injury while working at a government ministry a report shows…full story


Friendly environment critical to SMEs growth
The People Daily |August 7, 2019 • August 7, 2019

Small Medium Enterprise (SMEs) have a huge potential to create long lasting social value especially because their business models, products and proximity caters for the everyday needs of die larger part of our population…full story


CBK seeks Sh50bn through 20-year bond
Daily Nation |August 7, 2019 • August 7, 2019

The Central Bank of Kenya (CBK) has reopened the 20-year bond first put on sale in April as it seeks to raise Sh50 billion from investors to support public service delivery…full story


Why closing NSE gender gap will pay off in the long run
Business Daily |August 7, 2019 • August 7, 2019

Women have come a mighty long way since the first w women’s rights convention held in 1848 (dubbed the Seneca Falls Convention). During the meeting, when one of the leading women asked the assembly to pass a resolution asking for women suffrage, many of those present proposed the idea…full story


High liquidity raises NSE bond trade 21pc
Business Daily |August 7, 2019 • August 7, 2019

Bonds trade turnover at the Nairobi Securities Exchange (NSE) rose by 21 percent in July to hit Sh84.7 billion as investors directed excess Liquidity into the market…full story


113 Kenyans startups to get funding, training under Elumelu plan
Business Daily |July 5,2019 • August 5, 2019

The number of Kenyans who will benefit from the Tony Elumelu Foundation (TEF) Entrepreneurship Forum has gone up to 113 from 74 last year, the foundation announced last week in an event held in Abuja, Nigeria…full story here and here


Visa set to take aim at M-Sacco in apps race
Business Daily |July 5,2019 • August 5, 2019

The dominance of M-Sacco Kenyas mobile banking app for savings and co-operative societies will come under pressure after global tech payments platform Visa announced plans to launch a similar payments product…full story


How we can ensure effective taxation of the digital
Business Daily |July 5, 2019 • August 5, 2019

There is an unmistakable focus on the digital economy, both internationally and locally…full story


Company bonds issuance drought hits 27th months
Business Daily |July 5,2019 • August 5, 2019

Firms with maturing bonds are seeking private cash rather than go back to the corporate bonds market now extending to a 27-month issuance drought.


New hub to help SMEs scale up manufacturing
Business Daily |July 5, 2019 • August 5, 2019

A new hub aimed at helping micro, small and medium businesses to step up value addition, improve and expand their operations has been set up…full story


How needy Kenyans have been locked out of welfare cash
Business Daily |July 5,2019 • August 5, 2019

About 80% social protection expenditure goes to the elderly in Kenya, who represent a partly four percent of the country’s population, locking out a huge chunk of the needy from the safety net, a World Bank survey reveals…full story


Foreigners net sellers at NSE for month two
Business Daily |July 5,2019 • August 5, 2019

Foreign investors at the Nairobi Securities Exchange (NSE) made net sales for the second straight month, with the market paying the price as all indices closed July in the red. others included Safaricom, Barclays and KCB…full story


Poor run for Kenya as Eurobond yields remains subdued in H1
The Star |July 5,2019 • August 5, 2019

Yields on Kenya’s Eurobond have been on a downward trend since January 9 as shown…full story


Danish firm gets nod to take over ex-Jamii Bora chair’s company
Business Daily |July 5,2019 • August 5, 2019

Former Jamii Bora Bank chairman James Gacheru is finally set to relinquish control of his renewable energy firm, Chania Green Generation, to Denmark’s Frontier Energy for an undisclosed amount…full story


China slowly clarifies its bank bailout message
Business Daily|August 1, 2019 • August 1, 2019

China is gradually clarifying its bank bailout message. Two months after officials seized one regional lender, government controlled financial institutions are now taking stakes in Bank of Jinzhou, which holds a roughly $100 billion balance sheet…full story


Draft employment law introduces ‘flexi time’, surrogacy leave
Business Daily|August 1,2019 • August 1, 2019

The draft Employment Act (Amendment) Bill, 2019 published by the Kenya Law Reform Commission in April introduces novel concepts into Kenyan employment law which, only a few years ago would have been considered anathema at the workplace…full story


Fines for late returns filing to drop under new tax rule
Business Daily|August 1, 2019 • August 1, 2019

The penalty for filing annual tax returns with the Kenya Revenue Authority past June 30 deadline is set to drop under proposed changes to the law, boosting savings for homes and businesses which pay taxes on time…full story


Mobile economy holds out bright promise for Africa but hurdles abound
Business Daily|August 1, 2019 • August 1, 2019

Sub-Saharan Africa seems to be ticking all tile right boxes in the adoption of mobile technology. This is at least according to the GSMA conference held in Kigali, Rwanda, which heard mat me region will continue to record the fastest growth in subscription rates, with Kenya, Nigeria, Tanzania and Ethiopia in the driving seat behind […]


KRA ramps up efforts to tax digital firms
The People Daily|August 1, 2019 • August 1, 2019

Kenya Revenue Authority (KRA) is shopping for an application that will enable it to bring digital firms into the tax bracket. The app is expected to bring into the tax bracket local players and international players like betting firms…full story


Tech: KCB uses WhatsApp to reach clients
The Standard|August 1, 2019 • August 1, 2019

KCB Kenya customers can now interact with the lender via the popular messaging service WhatsApp. The platform will create a centralized communication hub for KCB digital customer care interactions…full story


NSE slide sees dividend beat Treasury bill yields
Business Daily|August 1, 2019 • August 1, 2019

Dividend yields of more than a dozen Nairobi Securities Exchange (NSE) listed companies are now higher than the prevailing Treasury bill rates, offering alternative investment option in a tough climate. Barclays and Standard Charted Banks have offered a higher yield…full story


Firm sues StanChart for Sh845m over CRB listing
Business Daily|August 1,2019 • August 1, 2019

Construction company- Monaco Engineering- wants Standard Chartered Bank Kenya to pay it Sh845 million in damages after it was Listed at a credit reference bureau as a loan defaulter and lost business opportunities as a result…full story


Three firms enter CMA innovation hub
Business Daily|July 1, 2019 • August 1, 2019

The Capital Markets Authority (CMA) has admitted the first three local firms to its innovation hub where they will test new products for possible roll out in the local capital markets…full story


CBK dollar injection fails to curb the shilling’s slide
Business Daily|July 1, 2019 • August 1, 2019

The Central Bank of Kenya (CBK) pumped dollars into the foreign exchange market yesterday and sought to soak up excess liquidity after the shilling sank to its lowest level against the dollar in nearly five years, traders said…full story


Employers lose powers to set staff retirement age in new Bill
Business Daily|July 1, 2019 • August 1, 2019

Employers are set to find it difficult to retrench or lock out older staff during recruitment if proposed amendments to the Employment Act are passed into law…full story


Branch clinches Sh500m for lending
The Standard |July 31, 2019 • July 31, 2019

Mobile lender Branch International has secured Sh500 million to support its local expan­sion drive. The latest funding from Centum owned Barium Capital brings the total capital raised locally by the firm since 2017 to more than Shl.5 billion…full story


CMA in deal with the Abu Dhabi financial regulator
Business Daily |July 31, 2019 • July 31, 2019

CMA has signed a deal with the Abu Dhabi financial regulator on sustenance finance. Kenya has been targeting launch of a Green Bond by the end of the year through a consortium of banks under the Kenya Bankers Association while electricity generating company KenGen has also indicated interest…full story


CBK mops up Sh35bn to defend shilling
Business Daily |July 31, 2019 • July 31, 2019

The Central Bank of Kenya (CBK) yesterday mopped up Sh35 billion from the money market as high liquidity saw the shilling weaken to a four year low of104.20 units to the dollar…full story


Demystify Universal Health Coverage before roll-out
The Standard |July 31, 2019 • July 31, 2019

The writer calls for demystification of UHC before its roll out…full story


Employers face Sh1 million penalty for withholding wages
Business Daily |July 31, 2019 • July 31, 2019

This series, which started yester­day, seeks to analyses the pro­ posed changes under the draft Employment Act (Amendment) Bill, 2019 published by the Kenya Law Reform Commission on its website in April this year , their impact on the employment landscape and the challenges expected to arise in in the implementation of some of the […]


NSE- signs point to recovery during second half of year
Business Daily |July 31, 2019 • July 31, 2019

With annual results in for most of the companies in the NSDE 20 share index the sideways markets seems to be that was a poor show but not an impressive one either…full story


Equity named Africa’s best digital bank 2019
The People Daily |July 31, 2019 • July 31, 2019

Equity Bank has been named Africa’s best digital bank during the annual Euromoney Awards for Excellence 2019, validating its role in delivering simple, fast, convenient and affordable banking products and services to customers…full story


Small insurers face storm over risk-based capital
Business Daily |July 31, 2019 • July 31, 2019

The risk-based capital (RBC) regime kicking off in July next year is Likely to touch off a spate of mergers and acquisitions, the insurance industry umbrella lobby has said…full story


Cash for elderly going to the rich, says WB
The Standard |July 31, 2019 • July 31, 2019

The Government’s cash transfer programme to the elderly has been hijacked by the rich, the World Bank has said in a new report…full story


Cross-network cash transfers yet to yield fruits a year after launch
The Star|July 30, 2019 • July 30, 2019

The cost of transferring money across different mobile networks in Kenya is still not uniform despite an agreement among the main players and backing from the Central Bank of Kenya. safaricom and Telkom charge unregistered users higher tariffs…full story


Fact-Checker: Wages, not health consumes bulk of county budgets, Governor Ottlchilo
The Standard|July 30, 2019 • July 30, 2019

How much do county governments spend on their health budgets? Vihiga County Governor Wilber Ottichilo last week sought to defend the devolved units in the ongoing stalemate over the implementation of the 2019/2020 Division of Revenue Bill…full story


End county cash row to save devolution dream
The Standard|July 30, 2019 • July 30, 2019

The standoff between the national and county governments is undermining the operations of the State. Those in charge must realize that the country risks grinding to a halt if the different entities fail to work together…full story


Welfare project now set for State vetting
Daily Nation|July 30, 2019 • July 30, 2019

The welfare kitty benefiting 1 million Kenyans is to undergo a thorough reviver starting August 4 to August 17 to weed out unscrupulous beneficiary…full story


Trader charged with Sh135 million fraud in NBK case
The Star|July 30, 2019 • July 30, 2019

A businessman suspected of being behind the hacking of the system to defraud the National Bank of Kenya of more than over Sh135 million was yesterday charged…full story


Kenya’s unemployment rate to rise World Bank
The Star|July 30, 2019 • July 30, 2019

Kenya has to create at least 900,000 jobs annually between now and 2025 to absorb the high number of youths joining the job market, according to the latest World Bank report…full story


Insurance can help boost sustainability in informal sector
Business Daily|July 30, 2019 • July 30, 2019

The primary role of insurance is to protect individuals and business against risk that may occur…full story


FinTech’s growth nudges banks to ink lending pacts
The Standard|July 30, 2019 • July 30, 2019

For some time, banks such as Barclays and digital lending applications had been seen as adversaries. The digital lending apps have in the recent past, however, disrupted the banking sector, taking the market by storm…full story


Forex reserves fall Sh18bn as shilling dips
Daily Nation| July 30, 2019 • July 30, 2019

The Central Bank of Kenya (CBK) official forex reserves shrunk by Shl8.6 billion last week, pointing to possible intervention by the regulator to stave off exchange rate volatility as the shilling touched a two year low of 104 to the dollar…full story


Stanbic Bank targets 200 employees in layoff plan
Business Daily|July 29, 2019 • July 29, 2019

Up to 200 employees of Stanbic Bank are facing layoffs under an early retirement scheme intended to cut payroll costs for the lender…Full story


Finance Bill 2019 is a big boost to REITS
Business Daily|July 29, 2019 • July 29, 2019

The introduction of Real Estate Investment Trusts was hailed as a game changer…Full story


Kenya’s debt rises to Sh5.5tr as Rotich borrows Sh980b in a year
The Standard|July 29, 2019 • July 29, 2019

Suspended Cabinet Secretary Henry Rotich capped his stay at the helm of the National Treasury by pushing up the country ‘s debt burden to Sh5.53 trillion as of last month…Full story


Treasury bills indicate unease as bids rise by Sh1.2 billion in a week
The Star|July 29, 2019 • July 29, 2019

The National Treasury received bids worth Sh27.2 billion in the week ending July 25, indicating continued unease in the market and a skeptical standby investors with former National Treasury CS Henry Rotich’s arrest…Full story


Kenyan lenders of Italian firm fight to get paid
Daily Nation|July 29, 2019 • July 29, 2019

A week after police arrested government officials over e Sh63 billion Arror and Kimwarer dams scandal, a row is simmering between broke Italian firm CMC , Barclays bank Di Ravenna and its local creditors who will have to wait for two years before getting paid…Full story


Drought cuts Kenya economic outlook
Daily Nation|July 29, 2019 • July 29, 2019

World’s leading banks, consultancies and think tanks have marginally downgraded Kenya’s growth prospects for 2019 largely citing the dampening impact of prolonged drought in the first quarter of the year…Full story


BAT pay for leaf falls to Sh1.46bn
Daily Nation|July 29, 2019 • July 29, 2019

Tobacco farmers’ earnings from leaf supplies to BAT Kenya fell by 1.9 percent to Sh1.46 billion even as leaf volumes rose marginally…Full story


New special zones to spur economic growth
Business Daily|July 29, 2019 • July 29, 2019

Kenya has embarked on establishing special economic zones across the country to spur economic growth and attract more investors…Full story


Base claims Sh20bn in tax refunds
Daily Nation|July 29, 2019 • July 29, 2019

The Kenya Revenue authority (KRA) is yet to pay Base Resources Limited more than Sh20 billion) as tax refund claims since the company commenced its operations in the country about nine years ago…Full story


NSE investors lose Sh87b in paper wealth as foreigners exit
The People Daily|July 29, 2019 • July 29, 2019

Nairobi Securities Exchange (NSE) lost Sh86.52 billion in paper wealth during the second quarter of this year due to foreigners exiting the market, citing tough business environment in the region…Full story


Why you should never stop learning
Business Daily|July 29, 2019 • July 29, 2019

There are many ways to find success as an entrepreneur, but no matter what path. you take, it’s vital to always keep learning. To stay relevant, hungry and motivated, it’s important to make a lifelong commitment to education and growth…Full story


Passive income sources key to good use of time
Business Daily|July 29, 2019 • July 29, 2019

We all possess assets that can be classified into two categories tangible and intangible. Tangible assets are those possessions we normally list on our personal balance sheets. These would be hard cash, real estate, stocks and bonds, among others…Full story


Renewed drive to stave off Kenya’s retirement crisis
Business Daily|July 29, 2019 • July 29, 2019

According to a new study by Zamara Group, the country is on the verge of a retirement crisis despite having legislation that has improved the governance and operations of pension funds…Full story


Revised bill on loan cost caps reaches House
Business Daily|July 26, 2019 • July 26, 2019

Parliament has received a new bill capping commercial bank interest rates according to central bank of Kenya that seals loop holes that led the High Court in March to declare legal limits on lending charges unconstitutional…Full story


Many still holding to Sh1,000 notes -CBK
The Star|July 26, 2019 • July 26, 2019

Many Kenyans still have the old 1000 shillings Kenya note according to report from Central Bank of Kenya (CBK)…Full story


Encourage innovation and grow talent for CBC success
The Standard|July 26, 2019 • July 26, 2019

Most of those in the academia welcome the new curriculum. However, even as we do so, we are obligated to foresee issues that may hinder its success and provide solutions in advance…Full story


Young innovators wow judges with practical, home-grown solutions
Daily Nation|July 26, 2019 • July 26, 2019

A meticulous innovator, a compassionate social entrepreneur, and a zealous agent of change. This description aptly defines the three winners of the just concluded ‘My Little Big Thing Competition’ that was held on July 11 at the Michael Joseph Center in Nairobi…Full story


Refund for Kenyans who will miss houses
Daily Nation|July 26, 2019 • July 26, 2019

Kenyans who contribute to the Affordable Housing Programme AHP and fail to secure a unit in the ballot type system of allocation, will get a refund plus interest, the government said…Full story


Firms get cash boost as KRA pays Sh15 billion tax refunds
The People Daily|July 26, 2019 • July 26, 2019

Kenya Revenue Authority has released Sh14.7 billion in Value Added Tax (VAT) refunds to various firms to enable them to improve cash flow and put them back on track…Full story


Deny graft suspects bond to end greed in government offices
The Star|July 26, 2019 • July 26, 2019

Following the shocking revelations of the unexpected arrest of former Treasury CS Henry Rotich and his PS Kamau Thugge over corruption allegations, government arms should come together and enforce a law to deny bail privileges to corruption suspects…Full story


Hoarders of ‘stolen cash’ will see their wealth vanish, warns CBK
Daily Nation|July 26, 2019 • July 26, 2019

Kenya’s decision to withdraw the old Sh1,000 notes from circulation will lock out proceeds of graft from the financial system, Central Bank of Kenya (CBK) Governor Patrick Njoroge said yesterday…Full story


CBK boss links mobile lenders to money laundering
The Standard|July 26, 2019 • July 26, 2019

Central Bank of Kenya (CBK) Governor Patrick Njoroge has heightened the onslaught on digital lenders, saying they might be conduits for cleaning dirty money…Full story


Shilling’s dip touches new low to dollar
The People Daily|July 26, 2019 • July 26, 2019

The shilling continued to weaken against the US dollar yesterday to hit 104.05/20 causing market ripples. It is the lowest level in almost two years, a streak that has continued, having hit a 20 month low against the dollar on Monday…


Treasury purge an opportunity for reform
Business Daily|July 26, 2019 • July 26, 2019

Clearly, Henry Rotid1had totally lost control over the affairs of the National Treasury. President Uhuru Kenyatta has a good opportunity to make big changes to give a new direction for the running of the nerve center of economic policy making. The problem will not be resolved by merely bringing in new technocrats at the Treasury […]


Treasury gives Sh33b for CDF
The Standard|July 26, 2019 • July 26, 2019

The Treasury has remitted Sh33.28 billion to be disbursed to the 290 constituencies under the National Government Constituency Development Fund (NG-CDF)…Full story


FEATURE: UNLOCKING BUSINESS POTENTIAL AND WEALTH CREATION
The Standard|July 26, 2019 • July 26, 2019

On this occasion of Anniversary 60th for the Federation of Kenya Employers, we celebrate our members for their unwavering support of the Federation…Full story


Pensioners to now be paid Sh60b in new State plan
The Standard|July 26, 2019 • July 26, 2019

Thousands of retirees will have their delayed pensions paid by October in a new push to clear the mounting backlog, according to the Treasury…Full story


Sh1m fine for borrowers who ignore interest caps
Business Daily|July 25, 2019 • July 25, 2019

Borrowers will be fined up to Shl million or jailed for a maxi­mum term of one year if found to have accepted loans above the rate cap if Parliament adopts a bill that seeks to entrench legal limits on lending rates. Introduced in September 2016, the cap limits lending rates to 4 percentage points above […]


Fintech the next frontier in economic growth
The People Daily|July 25, 2019 • July 25, 2019

This week, the Central Bank of Kenya and the Monetary Authority of Singapore (MAS) co-hosted 2,000 participants from 43 countries at the its kind Afro-Asia Fintech Festival, dubbed ‘Fintech in the Savannah’…Full story


Treasury says inflation key to Big 4 plan
The Standard|July 25, 2019 • July 25, 2019

Treasury has asked the Central Bank of Kenya to stabilize prices as a means to achieving President Uhuru Kenyatta’s Big Four agenda. In a notice setting out the prices…Full story


IMF slashes global 2019 growth to 3.2 per cent
The Star|July 25, 2019 • July 25, 2019

The International Monetary Fund (IMF) has revised the 2019 global economic growth downwards to 3.2 per cent from the 3.3 per cent projected in April…Full story


KCB now wants ruling on Sh700m surety overturned
The Standard|July 25, 2019 • July 25, 2019

Kenya Commercial Bank (KCB) wants the Court of Appeal to set aside a ruling in which the High Court ordered that the dispute between it and a Tanzania agency over bank performance guarantee should be determined by the latter court…Full story


CBK spares borrowers’ rates increase for the seventh time
Business Daily|July 25, 2019 • July 25, 2019

Borrowers have been spared higher cost of loans after the Central Bank of Kenya (CBK) retained its benchmark lending rate at 9.0 per cent for the seventh time in a row, even as lenders continue to withhold credit to the private sector…Full story


CBK tells why huge deposits will be probed
The Standard|July 25, 2019 • July 25, 2019

Central Bank of Kenya confessed that revelation that crooks had moved Sh320 billion dirty money in the last eight years informed its take to replace old Sh1,000 bank notes. The CBK said in court papers that Kenya loses an average Sh40 billion in illicit money flow, meaning that from 2011 criminals have perpetuated Sh320 billion […]


Central Bank retains base lending rate at 9pc
Daily Nation|July 25, 2019 • July 25, 2019

Borrowers have been spared higher cost of loans after the Central Bank of Kenya (CBK) retained its benchmark lending rate at 9.0 per cent for the seventh time in a row as lenders continue to withhold credit to the private sector…Full story


We have to cut down on cost of funerals
Daily Nation|July 25, 2019 • July 25, 2019

There are many interesting posts on social media that examine the cost of funerals in Kenya. Several make specific reference to the modest send off for Bob Collymore, the CEO of Safaricom, East Africa’s most profitable company, which was devoid of extravagance and overindulgence…Full story


Budgeting 101
The Standard|July 25, 2019 • July 25, 2019

It feels great to earn a paycheck. Whether you work part time In a restaurant, at a mall on weekends, or at shop In your neighborhood having a Job Is a big step towards personal growth and Independence…Full story


Brace for tough times as taxman seeks to hike excise duty by 5.2 pc
The People Daily|July 25, 2019 • July 25, 2019

If approved, it will raise cost of goods including super petrol, diesel, kerosene, beer, spirit s, cigarettes, bottled water and fruit juices…Full story


Talent driven industries are the panacea for unemployment in Kenya
Daily Nation |July 25, 2019 • July 25, 2019

In years gone by, education was a guarantee for employment. It was more desirable, indeed fashionable. to have a white collar Job than to ply one’s trade in the informal sector. There was immense pressure and cut-throat competition to pass well In exams as this was seen as the panacea to a good life…Full story


Kenyans’ big appetite for loans could stifle economic growth
The Standard|July 25, 2019 • July 25, 2019

The writer says that Kenyans’ big appetite for loans could stifle economic growth…Full story


Taming Kenyans’ hunger for instant mobile loans
Business Daily|July 25, 2019 • July 25, 2019

Mobile loan providers have teamed up to form the Credit Information Sharing System (CISS), a database that will help them tame the ever increasing culture of Kenyans borrowing and defaulting from one lender to another…Full story


Why you should plan your estate to outlive you
The People Daily|July 25, 2019 • July 25, 2019

Numerous estate owners have left their dependents destitute, squabbling or the laughing stock just because they failed to plan how their property and assets would be managed after they die…Full story


Kenyans need to prepare for retirement better, IPM Principal
The Standard|July 25, 2019 • July 25, 2019

James Wanyama is a trainer, a seasoned consultant in management, training and research. He is also the principal of Institute of Pension Management. He spoke to ‘Hashag’ on matters retirement…Full story


Project to fast track pensions payments
The People Daily|July 25, 2019 • July 25, 2019

The government is this morning scheduled to launch a program to clear payments for 40,000 retirees in the next three months…Full story


Stanbic Bank lends UAP. Sh2bn for bond payment
Business Daily|July 24, 2019 • July 24, 2019

Insurer UAP Holdings took a Sh2 billion loan from Stanbic Bank which it used to redeem its corporate bond on Monday…Full story


Bank seeks to widen footprint in Western Kenya through SMEs
Daily Nation |July 24, 2019 • July 24, 2019

Credit Bank is eyeing small and median sized enterprises (SMEs) in western Kenya as it seeks to tap into the opportunities to widen its footprint in the region…Full story


Banks’ forex deposits at Sh578bn
Business Daily|July 24, 2019 • July 24, 2019

Foreign currency deposits remained high but fell slightly to Sh577.9 billion in May compared to Sh578.9 billion in April, which was dose to the same level in March, Central Bank of Kenya (CBK) data shows. The changes in the three-month period indicated the deposits had stabilized after hitting an alltime high ofSh586.6 billion in January. […]


Save bank from distress
Business Daily|July 24, 2019 • July 24, 2019

That Consolidated Bank defaulted on repaying its corporate bond­ holders some Sh 1.6 billion that was due for redemption on Monday this week is a sign of the serious ill-health of the bank…Full story


ATMs to begin dispensing new generation banknotes this week
Daily Nation|July 24, 2019 • July 24, 2019

Kenyans will this week start getting new look currency from automated teller machines (ATMs) across the country, the Central Bank of Kenya (CBK) has said…Full story


Proposed law seeks to cap mobile loans
The Standard|July 24, 2019 • July 24, 2019

Interest rates on mobile loans like M-Shwari, could soon be capped if a new Bill in the National Assembly becomes law. Currently, a bank or a financial institution regulated by the Central Bank of Kenya (CBK) is expected to set maximum interest rate chargeable for a credit facility at no more than four per cent […]


Saccos to get cheap loans in State directive
The People Daily|July 24, 2019 • July 24, 2019

Members of savings and credit co-operatives Saccos will soon enjoy cheaper loans after President Uhuru Kenyatta directed Central Bank of Kenya CBK and concerned stakeholders to fast track establishment of a central liquidity facility…Full story


IMF cuts global growth forecast
The Standard|July 24, 2019 • July 24, 2019

The International Monetary Fund (IMF) has cut its growth forecast for the global economy for this year and next…Full story


CBK retains inflation target for the 8th year
Business Daily|July 24, 2019 • July 24, 2019

The National Treasury has maintained the inflation target range at 2.5 to 7.5 percent for the eighth year running. The inflation target is measured by the 12-month increase in Consumer Price Index (CPI) as published by the Kenya National Bureau of Statistics (KNBS). The announcement comes at a time the cost of living is within […]


SH40bn logistics hubs to boost exports
Business Daily|July 24, 2019 • July 24, 2019

Trade Mark East Africa (TMEA) plans to construct special trade and logistics clusters aimed at cutting trade costs by 10 per cent and increasing the region’s exports by 25 per cent…Full story


Treasury maintains inflation rate range at five per cent until 2022
The Star|July 24, 2019 • July 24, 2019

The Central Bank of Kenya is therefore expected to achieve this five per cent inflation target and will be accountable to the Government and the general public for its attainment, ‘ said the National Treasury in its annual notice to the CBK on Price Stability Target and Economic Policy…Full story


Development, governance are linked
Daily Nation|July 24, 2019 • July 24, 2019

In the past 10 years, Kenya has adopted a new spine for national economic growth, shifting from the initial focus on agriculture and service industry, with infrastructure now largely considered the enabler to development in hitherto neglected regions and sectors. In Nairobi, Work on the Sl12.7 billion Changamwe-Magongo road is also complete, according to Trademark […]


TransCentury, EA Cables fully restructures
The Star|July 23, 2019 • July 23, 2019

Kenya’s East African Cables and its parent firm TransCentury Ltd have completed a debt restructuring deal that has reduced the group’s debt by almost half, they said on Monday…Full story


Easy strategy to ensure your firm thrives
Business Daily|July 23, 2019 • July 23, 2019

Planning Failure to put in place a system to sort the basics often minimizes the firm’s chances of growth…Full story


Integrate youth into cooperative movement
The People Daily|July 23, 2019 • July 23, 2019

Poverty and unemployment remain the biggest challenges facing Kenya today, posing a threat to growth while undermining social stability…Full story


County seeks KRA help in collecting revenue
Daily Nation |July 23, 2019 • July 23, 2019

Kenya Revenue Authority could soon start collecting cess for the county government as the devolved unit seeks to bolster its finances…Full story


Retailers turn to ecommerce firms for sales boost
Business Daily|July 23, 2019 • July 23, 2019

Local retailers and grocery outlets including Chandarana Food­ plus, Tuskys, Carrefour, Naivas and Zucchini have forged partnerships with ecommerce firms in a bid to satiate demand from young, tech-savvy shoppers and grow sales volumes through digital platforms…Full story


Kenya’s maritime trade ranking at five-year low on Mombasa port woes
Business Daily|July 23, 2019 • July 23, 2019

Kenya’s maritime trade connectivity has worsened to a five-year low, a newly published global score card showed, pointing to the logistical challenges experienced at the port of Mombasa…Full story


Co-op Bank in deal to g row Sacco’s earnings
Daily Nation|July 23, 2019 • July 23, 2019

CO-OPERATIVE BANK of Kenya will restructure lending and deposit services at Metropolitan National Sacco in efforts to turn around the micro­ lender’s fortunes…Full story


Slow payments by government derailing economy – Moody’s
The Star|July 23, 2019 • July 23, 2019

Global credit rating firm Moody’s has attributed the high rate of nonperforming loans in Kenya to slow payment by the government. Speaking at a post-Monetary Policy Committee (MPC) press briefing in March, CBK governor Patrick Njoroge attributed the poor debt performance to delayed payments by both public and private entities and slow uptake of housing […]


Leading investment destinations in Africa
The People Daily|July 23, 2019 • July 23, 2019

With population of more than one billion and a growing middle class. Africa offers many opportunities…Full story


Diaspora remittances hit Sh1bn daily in June
Daily Nation|July 23, 2019 • July 23, 2019

Diaspora inflows rose more than a fifth in June to reach Diaspora inflows rose more than a fifth in June to reach an all-time high, data from the Central Bank of Kenya (CBK) shows.an all-time high, data from the Central Bank of Kenya (CBK) shows…Full story


Shilling, Eurobond fall as Rotich leaves vacuum at Treasury
Business Daily|July 23, 2019 • July 23, 2019

The Kenyan currency traded the shilling hit a 20-month low against the dollar while the for enlisted Eurobonds fell after the arrest of Treasury Secretary Henry Rotich on corruption charges, signaling investors’ unease at the vacuum left at the Ministry of Finance. The Kenyan currency traded at 103.67 yesterday units yesterday slipping up from 103.1 […]


Economy stands to lose as rising political noise gets on investors’ nerves
The Standard|July 23, 2019 • July 23, 2019

Every other day, Kenyans are treated to unending political dra­ma characterized by outbursts, allegations and counterallegations some of them as grave as alleged assassination plots – that point to widening rifts within the Executive…Full story


Telco seeks to train a million youths annually
Daily Nation|July 22, 2 • July 22, 2019

About a million youths will be trained annually by Blaze Link, an e-learning site launched by Safaricom…Full story


Sh111m World Bank grant for hospital
Daily Nation|July 22, 2019 • July 22, 2019

Busia Governor Sospeter Ojaamong has announced plans to build a modern, 300-bed mother-and-child hospital in Alupe, Teso South Constituency…Full story


Ecobank partners to ease tax payments
Daily Nation|July 22, 2019 • July 22, 2019

Ecobank has partnered with the Kenya Revenue Authority (KRA) to offer digital solutions that will eliminate the need for taxpayers to carry cash to make payments at Namanga one stop border point…Full story


Senate to begin debate on disputed revenue bill
The Standard|July 22, 2019 • July 22, 2019

Senate will tomorrow start debating the new Division of Revenue Bill 2019, even as attention turns to the Supreme Court which is expected to give direction on the matter…Full story


Opinion divided on monetary position ahead of MPC meet
Business Daily|July 22, 2019 • July 22, 2019

Analysts are divided on the like­ly Monetary Policy Committee (MPC) stance on Wednesday after it left ·the key rate at nine percent at its last meeting on May 27, analyst says central bank rate cut could be key to injecting cash into struggling economy…Full story


Sterling Capital, SIB top derivatives market on bourse
Business Daily|July 22, 2019 • July 22, 2019

Data from the NSE show that Sterling Capital traded contracts worth Sh940,000 with Standard Bank clos­ing deals worth Sh427,417 from the first day of trad­ing on July 4 to July 15. Among the companies that they traded with includes Safaricom, BAT, KCB, Equity and others…Full story


Treasury seeks city financial hub space
Business Daily|July 22, 2019 • July 22, 2019

The Treasury is seeking office space for the planned Nairobi International Financial Centre Authority (NIFC), kicking off Kenya’s last-mile bid for a re­gional financial hub. central bank is a beneficiary…Full story


Curtain falls on Auditor General’s 8-year stint
The People Daily|July 22, 2019 • July 22, 2019

In 2014, key officers in the auditor general’s office were threatened following damning revelations Sh67 billion used by several government departments could not be accounted for in the 2013-2014 audit report. Odhiambo said part of the reportedly lost funds amounting to Sh88 million was transferred into the Consolidated Fund at the Central Bank…Full story


Kenya Prisons Commissioner receives cheque
The Star|July 22, 2019 • July 22, 2019

Kenya Prisons Service commissioner general receiving dummy cheque from Lotto…Full story


Manufacturers decry new taxes on bottled water, beverages
The Star|July 22, 2019 • July 22, 2019

Manufacturers such as tobacco manufactures have fired back at Kenya Revenue Authority (KRA) plans to raid drinking water…Full story


Kenyans abroad sent home record Sh30.3b in June
The Standard|July 22, 2019 • July 22, 2019

This, Central Bank of Kenya ( CBK) said in its weekly bulletin, was an increase of 21 per cent from $243 million (Sh24.7 bil­lion) of diaspora remittances recorded in May…Full story


Postbank signs deal with Xpress
The People Daily|July 22, 2019 • July 22, 2019

Postbank has announced a partnership with Xpress Money, a move that will see Customers of the bank send to or receive money from 170 countries across the world…Full story


CBK wants fintechs to test products before launch
Business Daily|July 22, 2019 • July 22, 2019

Central Bank of Kenya (CBK) governor Patrick Njoroge has warned innovators in the financial technology (FinTech) space against rushing to launch products without proper testing and verification…Full story


Credit Bank gets Sh824ni AfDB loan for small businesses
Business Daily|July 22, 2019 • July 22, 2019

Credit Bank is set to receive a Sh824 million loan from the Af­rican Development Bank (AfDB) for onward lending to small and medium-sized enterprises (SMEs)…Full stor


Diaspora earnings at all-time high as tax amnesty closes
The Star|July 22, 2019 • July 22, 2019

Kenyans in diaspora sent home highest amount of money ever last month, taking advantage of the last days of tax amnesty on foreign earnings that lapsed on June 30. The weekly bulletin by the Central Bank of Kenya (CBK) on Friday reported…Full story


FINANCIAL LITERACY A VITAL ASSET
The Star|July 22, 2019 • July 22, 2019

When it comes to managing our personal finances, most people lack basic financial management skills…Full story


Zamara enters micro-pension deal with firm
Business Daily|July 22, 2019 • July 22, 2019

Pension fund administrator Zamara Group and Singa­pore based tech firm pinBox Solutions have inked a deal to widen micro-pension coverage in Kenya…Full story


Tech-savvy Kenyan cashes in on developing mobile apps
Business Daily, July 18, 2019 • July 18, 2019

Ujuzi Cide concentrated on developing products that could intergrate with M-Pesa. Their premium text-based ser­vices have enjoyed increased up­take by corporate entities, betting and gaming firms…full story


We will boost employment opportunities for Kenyan youth In TVET’
The Standard, July 18, 2019 • July 18, 2019

Kenya Association of Manufacturers (KAM) and GIZ’s E4D/SOGA – Employment and Skills for Eastern Africa Programme recently held an event to create awareness of available opportunities for the private sector, technical institutions and potential job applicants to bridge the skills gap experienced in Industry…full story


Uhuru urges regional states to go digital in war on corruption
The Standard, July 18, 2019 • July 18, 2019

President Uhuru Kenyatta has urged Kenya’s neighbours to plug into the country’s digi­tal strategy to help stem the free flow of illicit cash in the region. The Central Bank of Kenya (CBK) is also said to be in the process of developing digital identification infrastructure that will enable financial service providers to identify their customers […]


Corruption slowing growth, says agency
Daily Nation, July 18, 2019 • July 18, 2019

Perception of corruption and low transparency in procurement remains a top concern for big-ticket investors looking for business opportunities in Kenya, researchers at Moody’s have said. Corruption has become the ‘biggest industry’ in Kenya, gulping down about a third of annual budget, the Kenya Private Sector Alliance (Kepsa) said in January…full story


Banker reveals how cash was movell
Daily Nation, July 18, 2019 • July 18, 2019

A manager at Kenya Commercial Bank yesterday detailed to a court how money was transferred from the accounts of two companies to those of former Nairobi Governor Evans Kidero and former head of accounts in his administration Stephen Ogago Osiro…full story


New trade bloc will spur manufacturing in Africa
The Standard, July 18, 2019 • July 18, 2019

Africa Continental Free Trade Area will be one of the largest free trade areas since the formation of WTO…full story


Investing in technical skills crucial for economy
The People Daily, July 18, 2019 • July 18, 2019

When KCB Foundation started 2jia­jiri, we hoped that a majority of those that would join the programme would be busi­ness people. But that was not the case. The demand for technical skills by the youth to be self-sufficient is overwhelming. There is a booming inform…full story


Lender pens Sh12.7b agriculture deal
The Standard, July 18, 2019 • July 18, 2019

United Bank for Africa (UBA) Kenya has entered into a financing agreement of up to $125 mil­lion (Shl2.7 billion) with Export Trading Group (ETG)…full story


Financial management skills is an employee perk of the future
Daily Nation, July 18, 2019 • July 18, 2019

When it comes to managing our personal finances, most people lack basic financial management skills. We don’t talk about money with friends and family. Employees and employers can reap the rewards of being financially fit. Ideally, improving financial literacy is like diet or exercise: Step one is paying attention and prioritizing it…full story


Study reveals why retirees live in poverty
The People Daily, July 18, 2019 • July 18, 2019

Most retirees in Kenya live in poverty because they survive on 30 per cent of their pre-re­tirement income compared to a global recommendation of 75 percent…full story


Counties used less than 50pc of budget, shows report
Daily Nation|July 16, 2019 • July 16, 2019

A majority of counties have absorbed less than 50 per cent of their budgets in the first nine months of the 2018/2019 financial year, meaning taxpayers are being denied services despite the availability of funds, a new report shows…Full story


Rotich allows saccos to keep Co-op stake
Daily Nation|July 16, 2019 • July 16, 2019

Treasury Cabinet Secretary Henry Rotich has exempted Co-op Bank from ownership limits that would have applied to its top shareholder Co-op Holdings Co-operative Society, an investment vehicle for savings and credit societies (saccos)…Full story


How to overcome challenges in corporate governance
The Standard|July 16, 2019 • July 16, 2019

Tips on how to overcome challenges in corporate governance…Full story


Exercise caution when pursuing public private partnership deals
Daily Nation|July 16, 2019 • July 16, 2019

President Uhuru Kenyatta’s public private partnership as central to his Big Four Agenda…Full story


Governors oppose bill on revenue
Daily Nation|July 16, 2019 • July 16, 2019

County governors yesterday made good their threat to move to the Supreme Court to seek an interpretation as well as constitutionality of the Division of Revenue Bill, which addresses the contentious issue of allocating funds to the devolved units…Full story


Homes to be sold over Sh400m debt
Daily Nation|July 16, 2019 • July 16, 2019

More than 200 homeowners in Athi River’s Sunset Boulevard Estate risk losing their investments as auctioneers hired by I&M Bank look to sell the gated community to recover more than Sh400 million in unpaid loans…Full story


Njoroge steps up push for cheaper mobile app loans
Daily Nation|July 16, 2019 • July 16, 2019

The Central Bank of Kenya (CBK) has cranked up talks with banks to lower overall cost of mobile loans. Patrick Njoroge, the CBK governor, said the conversations go beyond the provisions of the law, which only cover the interest component of the loan, leaving out processing charges and facilitation fees. KCB (KCB M-Pesa), Commercial Bank […]


CBK pushes for lower mobile loan fees
Business Daily|July 16, 2019 • July 16, 2019

Central Bank of Kenya (CBK) has stepped up talks with banks to lower cost of mobile phones loans. Barclays Bank among the banks urged to lower the loans…Full story


KRA to deduct salaries in non-tax return penalties
Business Daily|July 16, 2019 • July 16, 2019

About 400, 000 people could have their Personal Identification Numbers (PIN) deactivated and pay deducted after the Kenya Revenue Authority sent notices to those who failed to file their tax returns by June 30…Full story


SMEs to get cheap loans as five banks leverage big data
The People Daily|July 16, 2019 • July 16, 2019

Small and medium enterprises will now access will now access cheap credit following announcement by Uhuru Kenyatta. Central Bank of Kenya (CBK) governor expressed concern over safety of customer data…Full story


SMEs urged to take up insurance
The Star|July 16, 2019 • July 16, 2019

Small and Medium Enterprises (SMEs) have been advised to embrace insurance as a tool to be able to manage risks and improve their credit profile. This will ensure sustainability of the businesses…Full story


Banks told to report fraud within two hours
The Standard|July 16, 2019 • July 16, 2019

New CBK guidelines seek to have lenders and mobile cash firms make regular updates to curb cyber threats…Full story


High inflows boost balance of payment
The Star|July 16, 2019 • July 16, 2019

Strong exports in horticulture steady diaspora remittance and low­er food import saw Kenya’s current account deficit narrow to a six – year high in the 12 months to May 2019. Latest data by the Central Bank of Kenya shows the country’s trade balance narrowed to 4.2 per cent of GDP in12 months to May from […]


Current account deficit narrows to four-year low
The Standard|July 16, 2019 • July 16, 2019

Improved exports, diaspora and tourism earnings have helped narrow the country’s current account deficit to a four-year ow, new data shows and according to central bank of Kenya…Full story


GTBank, Equity win EuroMoney awards
Daily Nation|July 16, 2019 • July 16, 2019

Nigeria-headquartered Pan­ African lender GTBank with four Kenyan branches and subsidiaries in Uganda, Tanzania and Rwanda last week emerged the overall best bank in Africa and Nigeria…Full story


Firms to reap big from free trade – AfDB
The Standard|July 16, 2019 • July 16, 2019

Africa’s free-trade pact will help shift the continent away from its over-reliance on volatile commodity exports and boost manu­facturing, according to the African Develop­ment Bank (AfDB)…Full story


World Bank’s Sh77 billion pushes forex cover up to 6.2 months
Daily Nation|July 16, 2019 • July 16, 2019

Foreign exchange reserves at the Central Bank of Kenya rose Sh76.4 billion last week again hitting Sh1 trillion after the Treasury drew down the proceeds of a $750 million World Bank (WB) loan approved in May…Full story


KRA boosts businesses with over Sh14b in tax refunds
The Standard|July 16, 2019 • July 16, 2019

Private firms have received Sh14.2 billion in tax refunds in what is expected to inject much needed liquidity to oil a cash­ strapped economy. Kenya Private Sector Alliance (Kepsa), a lobby of private busi­ness owners, said the arrears were for the financial year 2018/19 and were released in two tranches of Sh11.1 billion and Sh3.1 […]


NSE growth boost to investors, economy
The People Daily|July 16, 2019 • July 16, 2019

The Nairobi Securities Exchange (NSE) has anchored Kenya as East Africa’s financial hub, deepening and diversifying its product offering over the years. With the launch of the derivatives market, the course has come of age, so to speak, and investors have another avenue to secure returns for investment…Full story


Regulator warns firms over quacks in HR
Daily Nation |July 12, 2019 • July 12, 2019

Kenyan firms have been urged to ensure that t heir human resource staff are registered members of the Institute of Human Resource Management (IHRM) as the body intensifies efforts to police the sector…Full story


Firms get boost as KRA releases Sh14bn refunds
Daily Nation | July 12, 2019 • July 12, 2019

The Kenya Revenue Authority (KRA) has released Sh14.2 billion tax refunds owed to numerous companies…Full story


Firms shift focus to social media advertising drive
Business Daily| July 12, 2019 • July 12, 2019

A significant number of Kenyan companies are now turning to social media marketing as they see it as the most effective way to communicate directly with their customers, a new survey shows. It also found that betting sites such as SportPesa, Betin and 1xbet were in the top 20 most visited websites in Kenya, with […]


Sh1.5 billion project launched to support youth
The Standard|July 12, 2019 • July 12, 2019

Trade and Industrialization Cabinet Secretary Peter Munya has unveiled a Sh1.5 billion business competition. During the launch on Wednesday…Full story


Insurers adopt single window system
The Standard|July 12, 2019 • July 12, 2019

Close to 40 general insurance underwriters have agreed to use the Kenya TradeNet Single Window information processing system to relay all the marine cargo insurance and customs bonds to importers and the Kenya Revenue Authority…Full story


Trade body lauds move to pay debts
The Standard|July 12, 2019 • July 12, 2019

Kenya National Chamber of Commerce and Industry (KNCCI) Presi­dent Richard Ngatia has said the release of Sh10.4 billion by the Nation­al Treasury to pay pending bills will help stalled businesses. Mr Ngatia welcomed the move by the Government, saying that pay­ing creditors would save small and medium enterprises, which were the hardest hit by the […]


The Sh31.4bn bad loans trap in KCB and NBK deal
Business Daily|July 12, 2019 • July 12, 2019

A Sh31.4 billion bad debts load is among the priority items that KCB Group will have to grapple with in the planned merger with the National Bank of Kenya (NBK),the only way not be shut down by Central bank of Kenya…Full story


Treasury bills stock falls Sh50bn on debt payment
Business Daily|July 12, 2019 • July 12, 2019

Heavy domestic debt matur­ities have further cut the stock of outstanding Treasury bills, which now account for 34.2 percent of total domestic debt compared to 36.7 percent at the beginning of May. Central Bank of Kenya data shows the T-bill stock stood at Sh954.25 billion at the end of June, down Sh49.3 billion from the […]


Gaming firms fault State order as economic shock waves loom
The People Daily|July 12, 2019 • July 12, 2019

Safaricom said in a statement that it would need further guidance to close the Pay Bill numbers because two betting firms – SportPesa and Betin-had secured court injunctions over the matter…Full story


Boost to mart as derivatives debut on NSE
The People Daily|July 12, 2019 • July 12, 2019

The need to develop necessary systems to position Kenya as d global financial markets leader contributed to the delayed launch of derivatives market by Nairobi Securities Exchange (NSE), the sector regulator explained yesterday…Full story


Pending bills payment ‘to revive businesses’
The Star|July 12, 2019 • July 12, 2019

The Sh10.4 billion re­leased by the Treasury to pay cred­itors’ pending bills will help revive businesses, the national chamber of commerce president Richard Ngatia has said. Ngatia said that the Small and Medium Enterprises (SMEs) were the hardest hit by the delays occasioning unprecedented levels of businesses closures and job losses…Full story


Treasury to lose 5h15 billion in betting taxes
The Star|July 12, 2019 • July 12, 2019

The Treasury is likely to lose over Sh15 billion in tax revenue annually if government persists with its effective closure of Kenyan betting companies, SportPesa has roughly 40 percent market shares in Kenya…Full story


Online markets cut risks for customers
Business Daily, July 11, 2019 • July 11, 2019

Every business operates within a marketplace. Lower costs of connectivity at home via last mile providers or mobile via the telcos, has seen the transformation of many industry marketplace dynamics…full story


Kenya to host global purchasing summit
The People Daily, July 11, 2019 • July 11, 2019

Preparations are in high gear for die international Federation of Purchasing and Supply Management (IFPSM) World Summit 2019 in Mombasa…full story


Tax has increased 1s since devolution, lpsos survey shows
The People Daily, July 11, 2019 • July 11, 2019

Problems facing counties continued to mount with a new survey painting a grim picture on their revenue generation barely two months after the National government proposed a bill to regulate county levies…full story


StanChart launches new phone-based bank solution
Business Daily, July 11, 2019 • July 11, 2019

Standard Chartered (SC) Bank has introduced a keyboard-based banking solution which allows customers to access a variety of financial services from within any social or messaging platform without having to open the banking app…full story


Sustainable business practices unlock SMEs competitive edge
Business Daily, July 11, 2019 • July 11, 2019

With sustainability, SMEs will become responsible businesses which will result to continuous improvements enabling the companies to increase their bottom line through new opportunities as results of globalized supply chains as well as competitive advantages presented by sustainability and implementation of the SDGs…full story


Why foreign firms are investing heavily as local outfits struggle
The Standard, July 11, 2019 • July 11, 2019

Does the name Shapoorji Pallonji ring a bell? Perhaps not in the minds of many Kenyans. Pallonji is one of the world’s largest investment firms, with 16 companies whose interests range from oil and gas to engineering and construc­tion, and financial services…full story


World Bank offers top SMEs Sh1.5bn
Business Daily, July 11, 2019 • July 11, 2019

The World Bank has offered Shl.5 billion in grants to 750 businesses that will win in the 10-week online competition, MbeleNaBiz…full story


Cap state borrowing at Sh6 trillion, says Emgwen MP
The Star, July 11, 2019 • July 11, 2019

A legislator is proposing to tame the state’s appetite for borrowing by capping the public debt at Sh6 trillion. Central Bank of Kenya data shows that as of March, Kenya had Sh5.4 trillion debt, of which Sh2.7 trillion was borrowed externally and Sh2.7 trillion from domestic sources…full story


Mobile lenders big risk for Kenya, says CBK governor
Business Daily, July 11, 2019 • July 11, 2019

Mobile-based online lending firms should be regulated to avoid their usage as channels for introducing illegally obtained cash into the financial system, Central Bank of Kenya Patrick Njoroge has said…full story


Deposits of small banks rebound 33pc after tough years
Daily Nation, July 11, 2019 • July 11, 2019

The Central Bank of Kenya had earlier that year opened a special borrowing window for hardest-hit lenders to tap into at a rate that is usually above the market rate…full story


Regulators oppose M-Pesa split plan
Business Daily, July 11, 2019 • July 11, 2019

Mobile and financial sector regulators have warned against Parliament’s quest to split the popular money transfer service, M-Pesa, from telecoms giant Safaricom…full story


Nairobi hosts conference on financial technology
Business Daily, July 11, 2019 • July 11, 2019

Kenya is set to host a financial technology conference next week at a time sector players are under pressure to innovate and outpace existing traditional brick and mortar model… full story


Lenders concerned over new currency shortage
The Star, July 11, 2019 • July 11, 2019

Bankers in parts of the country are now calling on the Central a Bank of Kenya (CBK) to urgently address the acute current shortage of the new currency…full story


KCB undervalued our share price in the takeover offer-National Bank directors
The Star, July 10, 2019 • July 10, 2019

The takeover now awaits con­ version of 1.13 million preference shares in the capital of the firm to new ordinary shares of a similar amount and final approvals from Central Bank, Competition Authority and Capital Market Au­thority…full story


Low liquidity bites small banks in rate cap regime
The Star, July 10, 2019 • July 10, 2019

CBK data shows private sector credit growth fell from its peak of about 25 per cent in mid-2014 to 1. 9 per cent in January 2018 its lowest level reported last year…full story


Bad loans at 12-year high as businesses suffer
The Standard, July 10, 2019 • July 10, 2019

Over the past five years, Ken­yan businesses have found it increasingly hard to repay their debt with the rate of non-per­ forming loans (NPLs) climbing to a 12-year high…full story


PICTORIAL: State of Banking
Business Daily, July 9, 2019 • July 10, 2019

Kenya Bankers Association (KBA) officials and guests follow proceedings during the release of the KBA’s ‘State of the Banking Industry Report’ at Serena Hotel yesterday…full story


KCB takeover of National Bank gets closer to reality
The People Daily, July 9, 2019 • July 10, 2019

Amid claims of undervaluation of NBK shares, Central Bank of Kenya sees the successful completion of this transaction as augmenting the sector consolidation policy, whose aim is to create strong banks that will support the realisation of Kenya’s medium­ long term development goals…full story


SMEs set to gain from capacity building pact
The People Daily, July 9, 2019 • July 10, 2019

Small and medium-sized enterprises in the manufacturing sector are set to benefit from a partnership to promote capacity development between Kenya Association of Manufacturers and the African Guarantee Fund for small and medium-sized Enterprises…full story


How cows, crops and furniture could unlock Sh3.7tr in loans
The Standard, July 10, 2019 • July 10, 2019

There are approximately seven million micro. Small and medium enterprises (MSMEs) in the country. Of these, more than 80 per cent are informal and unlicensed that’s four In five MSMEs… full story


Japanese investors cry foul over unclear trade laws
The Star, July 10, 2019 • July 10, 2019

Lack of clear communication on policy, regulation and legislation changes a re frustrating Japanese investors in Nairobi, Japan External Trade Organisation has said…full storywnload_Japanese_investors_cry_foul_over_unclear_trade_laws_The_Star_10-Jul-2019_:_Page_14


PE firms make 23pc dollar return in East Africa exits
Business Daily, July 9, 2019 • July 10, 2019

PE activity in the region has grown significantly in the past decade, with majority of those that entered the market at the beginning of the decade now exiting after achieving the normal six to eight-year investment cycle for such funds…full story


Why free-trade-area Africa needs own monetary fund
Business Daily, July 9, 2019 • July 10, 2019

Business Daily, July 9, 2019Over the past 10 years, most regions have developed regional arrangements that can supplement the help that the IMF provides to countries facing balance of payments problems…full story


AFRO-ASIA FINTECH FESTIVAL
Daily Nation, July 9, 2019 • July 10, 2019

Bringing together the global financial community for a two day celebration of FinTech…full story


Non-performing loans soared in interest caps era, say bankers
The People Daily, July 9, 2019 • July 10, 2019

Enterprises and households con­tinue to find it increasingly difficult to settle their debt obligations, re­vealing tough times due to economic slowdown, a new report has shown…full story


Our future firmly tied to vocational training
The People Daily, July 9, 2019 • July 10, 2019

Irina Bokova, the former Director Gen­eral of Unesco, once said that vocational training is the future for many countries striving to escape the poverty trap…full story


CMA action on insider trading a wake-up call
Business Daily, July 9, 2019 • July 10, 2019

The action by the Capital Markets Authori­ty ( CMA) to slap two chief executives with cash fines and varying bans from holding key positions in any of its regulated firms for involvement in an insider trading scandal sends a warning shot that the time for such malpractices that undermine the stock market are over…full story


Equity named most responsible bank
The People Daily, July 9, 2019 • July 9, 2019

Equity Bank has been named among the top in the Responsible Bank category by the African Banker. The recognition follows its efforts under the Equity group foundation…full story


Lender to sensitise Kenyans in rural areas on new currency
The Star, July 9, 2019 • July 9, 2019

Kenyans In remote areas will get a chance to learn about the features of the recently unveiled new currency. The Central Bank of Kenya unveiled new banknotes during the 56th Madaraka Day celebration held in Narok county on June 1…full story


Slow start to derivatives trading at Nairobi bourse
The Star, July 9, 2019 • July 9, 2019

Nairobi Stock Exchange oversaw the sale of two contracts on commencement of derivates’ market on July 4 worth Sh48,000, the securities exchange has said…full story


Uhuru’s Big Four agenda to save us from costly imports
The Star, July 9, 2019 • July 9, 2019

The recognition of qualification of professionals from partner states has enabled Kenyan citizens to work in countries like Burundi, Uganda, Rwanda or Tanzania without having to undergo complex processes like sitting for another examination to prove they are professionals…full story


14 counties set to benefit from State’s Sh15b electricity kitty
My Gov, July 9, 2019 • July 9, 2019

The National Govern­ment has embarked on a Sh15 billion Last Mile electricity connectivity programme targeting 14 counties, Energy Cabinet Secretary Charles Keter has said. Keter said the funds from the World Bank would see villages and settlements in the identified counties get electricity through generators, solar and wind power as well as the national grid…full […]


New Future trading to benefit local investors
Business Daily, July 9, 2019 • July 9, 2019

The long-awaited Nairobi Se­curity Exchange Next Derivatives Market is set for a his­torical launch to all investors in a few days…full story


How new currency will affect your business
Business Daily, July 9, 2019 • July 9, 2019

Central Bank of Kenya Gov­ernor Patrick Njoroge an­nounced on May 31 the demonetisation move to remove the old Shl,000 notes out of circulation by October1…full story


CMA bans stock traders in Kobil insider trading
Daily Nation, July 9, 2019 • July 9, 2019

Stocks agent Aly- Khan Satchu and former Kestrel Capital chief executive Andre Desimone have been hit with market bans of three and one year respectively by the Capital Markets Authority (CMA) in a ruling on the Kenol Kobil insider trading probe…full story


Pending bills payout boon for economy
The Standard, July 9, 2019 • July 9, 2019

Kenyans can breathe a sigh of relief that the economy is finally on a fast track. Thanks to Presi­dent Uhuru Kenyattas directive issued during the Madaraka Day celebrations to ministries, and agencies to pay up the uncon­tested pending bills on or before the end of last month…full story


Back MSMEs to grow the economy
Daily Nation, July 9, 2019 • July 9, 2019

Different surveys indicate that a large number of MSMEs do not cele­brate their second birthday and most die before their fifth…full story


Kenyas foreign reserves sink as CBK safeguards the shilling
The Star, July 9, 2019 • July 9, 2019

Kenyas foreign exchange reserves dropped by over Sh10 billion last week according to central bank of kenya, an aspect financial experts have attributed to mopping up of the shilling which came under pressure early last week…full story


Taxpayers lose Sh870m in botched cooking gas subsidy plan
Business Daily, July 8, 2019 • July 8, 2019

Kenyan taxpayers lost more than Sh870 million in the botched Ministry of Petroleum’s plan to provide poor homes with cheaper cooking fuel, a new au­dit has shown…full story


Withholding tax key to widening revenue base
08-Jul-2019, July 8, 2019 • July 8, 2019

Finance bill 2019 proposes to include services SMEs in race to raise tax payers’ numbers…full story


Race against time for banks sa CBK deadline beckons
Daily Nation, July 8, 2019 • July 8, 2019

Central Bank of Kenya (CBK) caught the country by surprise during the June 1st Madaraka day celebrations…full story


Why Kenyan taxpayer is the most burdened, despite Rotich claims
Daily Nation, July 8, 2019 • July 8, 2019

Claims that Kenya has low tax rates in the region, lack context Survey conducted indicates that citizens were willing to pay higher taxes…full story


You will now part with Sh5,000 for loitering at KRA
Daily Nation, July 8, 2019 • July 8, 2019

Interior secretary Fred Matiang’i has officially listed the headquarters of the Kenya Rev­enue Authority (KRA) and its offices countrywide as a protected areas, keeping them out of bounds for persons not on official duty…full story


CBK yet to send decrees on new currency to Parliament
The Standard, July 8, 2019 • July 8, 2019

The Central Bank of Kenya (CBK) is yet to forward to Parliament three legal instruments ahead of rolling out of new currency in line with the law…full story


Surrender old notes, police and EACC told
The Standard, July 8, 2019 • July 8, 2019

Police have been ordered to state how much they are holding as exhibits to enable Central Bank of Kenya exchange them with new currencies…full story


Will Facebook’s new digital money be good for Africa?
The Standard, July 8, 2019 • July 8, 2019

From early next year, Face­book, a company started by Harvard Student Nark Zuckerberg, intends to let its two billion-odd users – more than 139 million of whom are in Africa – make digital payments through its apps and popular messaging service WhatsApp using a new crypto-currency called Libra…full story


Women, youth to get State loans at 6pc interest
Business Daily, July 8, 2019 • July 8, 2019

Women, youth and small business owners will get loans from the State at six percent interest under the new Biashara Kenya Fund that will this year receive Sh2 billion to start operations. Private sector credit growth has been sluggish since the government capped commercial lending rates at four percent­ age points above the Central Bank […]


Association issues state of banking industry report
Business Daily, July 8, 2019 • July 8, 2019

The Kenya Bankers Association (KBA) will unveil the inaugural edition of the State of the Banking Industry Report’ at Serena Hotel in Nairobi from 7.30 a.m. The report will offer a fresh outlook of the industry, contributing to the analytical work done by stakeholders, including the Central Bank of Kenya and other regulators…full story


Moody’s forecasts bank mergers in tight space
Business Daily, July 8, 2019 • July 8, 2019

Kenya’s banking sector is likely to see more mergers and acquisitions in the next two years as capital raising options diminish for smaller struggling lenders, global ratings agency Moody’s says in a new report…full story


Kenya diaspora remittances top in East Africa
Business Daily, July 8, 2019 • July 8, 2019

Kenyans living abroad sent home more money last year than the rest of the East Africa Diaspora combined, World Bank data shows, revealing the difference in the quality of earnings of the different nationalities. The Central Bank of Kenya has, for instance, identified the ease of sending money back home as a major factor in […]


CMA warns rogue investors as power hurdle now cleared
Business Daily, July 8, 2019 • July 8, 2019

Capital Markets Authority (CMA) chief executive Paul Muthaura says its enhanced power will see it quickly investigate and take action against rogue persons and firms, with less court injunctions…full story


World Bank abattoirs to boost trade
Daily Nation, July 3, 2019 • July 3, 2019

Isiolo County is banking on the completion of abattoirs funded by the World Bank to boost livestock trade in the region. In April, the World Bank com­mitted Sh800million to build the abattoirs, which will also be put up in Wajir, Garissa and Marsabit counties…full story


Gambling tax measures need rethink
Daily Nation, July 3, 2019 • July 3, 2019

Globally, the sports betting industry has seen exponential growth to become a lucrative sector with huge returns for investors and the economy. However, whereas the West, from where sports betting was imported, has devised ways of reaping the benefits, Kenya (and Africa at large) is still struggling with how to consolidate these economic gains as […]


World Bank pledges Sh50bn for Kenya-Ethiopia roads
Daily Nation, July 3, 2019 • July 3, 2019

This came after the World Bank pledged Sh50 billion for the construction of three Northern Kenya roads linking Kenya to Ethiopia and Somalia that will unlock cross-border economic activities, thereby improving livelihoods across the region…full story


Why the housing levy should be abolished
Business Daily, July 3, 2019 • July 3, 2019

The writer gives reasons why he thinks the housing levy should be abolished…full story


Firms fear loss of jobs, investments after agencies ordered to quit port
Business Daily, July 3, 2019 • July 3, 2019

Some companies contracted by State agencies to carry out services on their behalf at the Port of Mombasa and at the inland container depot (ICD) in Nairobi fear massive job losses after the government ordered some of the agencies move out…full story


Mobile cash transfers fall 30pc
The Standard, July 3, 2019 • July 3, 2019

The number of mobile money transactions fell nearly 30 per cent in the first three months of this year, marking the largest decline recorded by service providers in recent years. Safaricom recorded the biggest drop in transaction volumes, with the number of M-Pesa transac­tions falling from 616 million as of December last year to 404 […]


7 easy ways to develop better spending habits
The Standard, July 3, 2019   • July 3, 2019

However, we tend to forget that how we spend our money greatly affects all these other aspects of financial wellbeing. Here are seven simple ways to become better at using the mon­ey you do have…full story


Dollar demand piles pressure on shilling
The Star, July 3, 2019 • July 3, 2019

Central Bank of Kenya quoted the shilling at Sh102.81 buying and Sh102.61 selling, a 3 4 basis point jump compared to Monday trading…full story


Who will take over at Kenya’s most profitable firm?
Business Daily, July 2, 2019 • July 2, 2019

The death of Safaricom CEO Bob Collymore returns to fore the critical question of succession…full story


CMA gets nod to punish former imperial directors
The Standard, July 2, 2019 • July 2, 2019

Former bosses are in trouble for their role in raising ksh 2 billion bond before collapse in 2015…full story


Pain of taxing slippery digital economy
Daily Nation, July 2, 2019 • July 2, 2019

When reading the 2018/19 Budget, CS Henry Rotich said the State would train its focus on bringing the digital economy into the tax net. For long KRA has been pushing to be granted access to mobile money platforms such as M-Pesa and Airtel. KRA was having challenges in taxing betting firms such as Betin and […]


NSE turnover falls 30pc in second quarter
Daily Nation, July 2, 2019 • July 2, 2019

Turnover at the Nairobi Securities Exchange {NSE) fell by 30 percent to Sh32.9 billion in the second quarter of the year compared to a similar period in 2018 as weak share prices hurt trading…full story


WB chief roots for investment reforms
The Standard, July 2, 2019 • July 2, 2019

Uncertainty from trade tensions and slowing global growth is increasing the need for developing countries to pursue reforms that make them more attractive to private investment, World Bank Pres­ident David Malpass said on Friday…full story


CS Rotich defends KCB-NBK merger
The Star, June 27, 2019 • June 28, 2019

National Treasury Cabinet Secretary Henry Rotich has defended the planned Kenya Commercial Bank and National Bank of Kenya merger…full story


Borrowed money must be spent on development projects
The Star, June 27, 2019 • June 28, 2019

Our 47 counties are funded from equitable share, conditional grants and own revenue. Borrowing is an option, but what I know is that there is no framework so far established in law to exploit this avenue of raising money…full story


Why Zimbabwe president banned use of foreign currencies
The People Daily, June 27, 2019 • June 28, 2019

Zimbabwe’s government has taken the controversial decision to ban local trading in foreign currencies, including the US dollar, with immediate effect…full story


Tanzania tightens foreign exchange control
The People Daily, June 27, 2019 • June 28, 2019

Tanzania has tightened its currency controls with new regulations on foreign exchange bureaus, in what authorities say is an ongoing fight against money launder­ing and currency speculation…full story


Shillings bows to imports pressure