Hub Category: Industry Related News

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Ever stopped to think about what could happen if the skills you currently possess were to become outdated?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
The People Daily, June 27, 2019 • June 28, 2019

Analysts attributed the weak­ening to the move by CBK to demonetize old Sh1,000 currency notes – a move which CBK Gover­nor Patrick Njoroge dismissed as inconsequential…full story


Mobiles the favourite source of soft loans , says consumer survey
Business Daily, June 27, 2019 • June 28, 2019

Research firm showed that near­ly half of Kenyans rely on the mobile phone loans rather than friends and family for cash. However, family and friends still trumped informal groups, known as chamas as a source of loans…full story


Why N ITA is pushing for levy fund
The Standard, June 27, 2019 • June 28, 2019

The cost of your staff training taken care of by NITA based on Levy terms and conditions – locally and abroad, including air fare in economy class. This levy fund also caters for industrial attachment opportunities and grants to attaching employers Compliant employers get paid Industrial Attachment Grant for attaching students at Sh3,000 per month […]


10 counties on the road to borrowing
The Standard, June 27, 2019 • June 28, 2019

Ten county governments could in September strut bor­rowing money from the capital markets to finance infrastruc­ture projects…full story


Seal loopholes in the pension payments
Daily Nation, June 27, 2019 • June 28, 2019

The agony many pensioners who retire from government service face has been widely articulated. It takes exceedingly long to get the payments processed and disbursed to the beneficiaries. Cases abound of pensioners who die without getting payment, leaving their dependants in a quandary given the difficulty of accessing the funds…full story


Money market investors should cease this fixation with- yields
Business Daily, June 27, 2019 • June 28, 2019

Investors, es­pecially retail, should stop this fixation (or greed) with yields and start parsing asset alloca­tion risks…full story


WTO in plans to expand produce market
Daily Nation, June 27, 2019 • June 28, 2019

The World Trade Organi­zation (WTO) has partnered with the Common Market for Eastern and Southern Africa (Comesa) to harmonise standards with a view to increasing market access of agricultural produce in the region…full story


Why SMEs in Kenya need bigger support
Daily Nation, June 27, 2019 • June 28, 2019

Billions of medium, small and micro-entrepre­neurs across the world are today celebrating the gains that they have made to grow na­tional, regional and world economies. The SME sector creates the most jobs and contributes quite significantly to the national GDP. A 2018 National Economic survey Report released by the Central Bank of Kenya CBK inculcated […]


More borrowing room as Eurobond yields dip
Daily Nation, June 27, 2019 • June 28, 2019

Investors in the interna­tional debt market have significantly lowered their risk rating of Kenyan bonds, opening room for the Treasury to borrow more aggressively at a friendlier price…full story


DARK ECONOMIC CLOUDS GATHERING
The Star, June 27, 2019 • June 28, 2019

There is an ongoing debate on whether or not Kenya’s external debt is sustainable. On the one hand we have those who defend Treasury Cabinet Secretary Henry Rotich, and insist that substantial borrowing was necessary given the ambitious development goals that the government has set…full story  


CS orders varsities to pay Shl6bn debt
Daily Nation, June 27, 2019 • June 28, 2019

Mr Ouko singled out the University of Nairobi, Keny­atta University, Jomo Kenyatta University of Agriculture and Technology and Multimedia Uni­versity as some of those steeped in cash woes that have seen them fail to remit statutory deductions to KRA, RBA, National Hospital Insurance Fund and Saccos…full story


Banks to get Sh17bn SME credit risk guarantee
Daily Nation, June 27, 2019 • June 28, 2019

African Guarantee Fund (AGF) has set aside $170 million (Sh17.1 billion) to back Kenyan banks’ lending to small and medium-sized enterprises (SMEs) through a scheme that will insure the lenders against defaults…full story


How cryptocurrency space is evolving
Business Daily, June 27, 2019 • June 28, 2019

WhatsApp, one of Facebook’s products, is perhaps the greatest social media gift to Kenyans. Often used in combination Will M-Pesa, payment providers like Visa and MasterCard, telecom companies and other onHne platforms such as Uber…full story


Investors query city bid worth
The Standard, June 27, 2019 • June 28, 2019

Investors and professional bodies have raised questions on how elevation of Nakuru to city status would impact their businesses…full story


Kenya shines in Africa’s lineup of admired brands
Business Daily, June 26, 2019 • June 26, 2019

Kenya is home to 16 percent of the 25 most admired brands in Africa, according to a survey by the Nairobi Stock Exchange in partnership with Geopoll, Kantar, Brand Leadership and africapractice. Unilever led in consumer segment…full story


Companies struggle to repay maturing bonds in tough year
The Standard, June 26, 2019 • June 26, 2019

Companies are facing a tough time in paying back long-term loans on matu­rity following a trend that has seen massive defaults over the last couple of years. KenGen may be among the few firms sailing smoothly as it has managed to pay its Sh25 billion infrastructure bond. Athi River Mining missed its June 2018 interest […]


Tax pain for Nairobi in Sonko’s Sh35.2bn budget
Business Daily, June 26, 2019 • June 26, 2019

Nairobi residents and property owners are set to pay more in land rates, parking fees and garbage collection levy in a raft of new charges intended to fi­nance Governor Mike Sonko’s Sh35.2 billion annual budget…full story here


Rotich keeps business permit tax to net cheats
Business Daily, June 26, 2019 • June 26, 2019

Small traders will continue pay­ing presumptive tax charged at the rate of 15 percent of annu­al business permit fees paid to the counties despite proposed re-introduction of a monthly turnover duty to arrest the 1.56 million tax cheats. The Kenya Revenue Author­ity (KRA) said on Tuesday the move to retain the presumptive tax is aimed […]


Rotich in trouble over lifestyle audit hitch
Business Daily, June 26, 2019 • June 26, 2019

Parliament has summoned Trea­sury Secretary Henry Rotich over the lifestyle audit that has seen suspended heads of pro­curement and accounts in public service and parastatals continue to draw salaries without doing any work…full story


Banks can only nudge towards greener world
Business Daily | June 21, 2019 • June 21, 2019

Central bankers are pro­fessional worriers. So it is hardly surprising that they are increas­ingly fretting about climate change…full story


Bank of England cuts growth outlook as interest rates held
Business Daily | June 21, 2019 • June 21, 2019

The Bank of England has said it expects economic growth to be flat in the second quarter of the year. The Bank’s Monetary Policy Committee (MPC) had previously predicted growth of 0.2 percent over the period…full story


5 lenders to fund Sh38b project
The Standard | June 21, 2019 • June 21, 2019

Five African commercial banks have partnered in a $375 million (Sh37.8 billion) financing deal to build a new diamond mining ves­sel for a subsidiary of Anglo American’s diamond unit De Beers…full story


Mwilu’s lawyer accused of lying
The Standard | June 21, 2019 • June 21, 2019

According to the investigator, Mr Muluvi was not being prosecuted for being Justice Mwilu’s lawyer, but because there is evidence that they colluded to defraud Imperial Bank and the Kenya Revenue Authority through tax evasion…full story


Banki carries the day over Benki in currency debate
The People Daily | June 21, 2019 • June 21, 2019

Kenyans have in the past week debated amongst one another, whether Banki as inscribed on the Kenyan note was at typo or not…full story


Kenya leads East Africa with Sh120 billion investments
Daily Nation | June 21, 2019 • June 21, 2019

Kenya attracted private equity (PE) investments of $1.2 billion (Sh120 billion) in the two years ended Decem­ber, taking the lion’s share of capital committed to East Africa…full story  


Kenya leads East Africa with Sh120 billion investments
Daily Nation | June 21, 2019 • June 21, 2019

Kenya attracted private equity (PE) investments of $1.2 billion (Sh120 billion) in the two years ended Decem­ber, taking the lion’s share of capital committed to East Africa…full story


Investor pain as capital gains tax doubles
Daily Nation | June 21, 2019 • June 21, 2019

Investors paying capital gains tax (CGT), remitted to the Kenya Revenue Authority, on prop­erty, have once again been left exposed to high tax charges after the Treasury failed to introduce rules that would allow adjustment of the buying price for inflation…full story


Predictability in policy formulation critical to combating illicit trade
The Standard, June 20, 2019 • June 21, 2019

This years’ two major seizures of smuggled ethanol have brought to the fore one of the most difficult aspects of the fight against illicit trade. The first was marked by drama: detectives seized a truck believed to have been loaded with 20,000 liters of ethanol; smuggled into Kenya through the Namanga border post. Mr Rowlands […]


US embassy retreats on new currency
The Standard, June 20, 2019 • June 21, 2019

US Embassy in Nairobi is now accepting both the old and new currency notes for payment of its ser­vices. CBK too explained it was working with different institutions to re-calibrate their currency verifica­tion and note-counting equipment…full story


Why taxman may miss revenue target
The Standard, June 20, 2019 • June 21, 2019

For instance, beginning October 1, firms that employ security guards, drivers, cleaners and other income earners must remit to the Kenya Revenue Authority (K.RA) withholding taxes. Others drawn into the tax base are promotional sales agents and catering staff offering services outside their eateries. In adilition to bringing the low-income earners into the tax net, […]


Currency exchange ban weakens shilling at border town
The Standard, June 20, 2019 • June 20, 2019

Central Bank of Kenya, however, put the official exchange rate at 37 units for the Uganda shilling. The value of the Kenyan money has depreciated, and this is affecting our businesses, said John Omondi, a boda boda rider on the Kenyan side of the border…full story


THE CUTTING EDGE: TAXING BUDGET…
Daily Nation, June 20, 2019 • June 20, 2019

On the 2019 Budget, Robert Mukirae’s unsolicited two cents’ worth of advice to National Treasury Cabinet Secretary Henry Rotich is that mountains of taxes and ballooning debts a thriving economy do not make…full story


Kenya plans flower centre in China to boost sales
Daily Nation, June 20, 2019 • June 20, 2019

Kenya is set to open a cut flower distribution centre in China in a new strategy aimed at creating a direct sale outlet to grow its exports to the Asian market. Industry and Trade…full story


CBK wants digital lenders over customer exploitation
Daily Nation, June 20, 2019 • June 20, 2019

Unlicensed and unregulated digital lenders have been put on notice as the govern­ment moves to protect consumers from fraudulent deals. Central Bank of Kenya (CBK) Governor Patrick Njoroge raised concerns over the increasing number of mobile loan apps, which are seemingly exploiting Kenyans…full story


A county small in size, big on business
Daily Nation, June 20, 2019 • June 20, 2019

Due to its fertile soils and favourable climate, it is nicknamed by the locals the Canan of Kenya. It is also slowly adopting another name of Mountain of Cities, a creation of Governor Anne Waiguru…full story


Self-regulation key in digital lending
Business Daily, June 18, 2019 • June 18, 2019

Self-regulation is an in­dustry practice com­mon in addressing various industry issues, from establishing pro­fessional standards to develop­ing, setting and applying code of professional ethics and enhanc­ing consumer confidence. Self-regulation is to regulation what self-importance is to importance. Central Bank of Kenya Governor Patrick Njoroge…full story


Tala loan seekers hit 2.5 million
The Standard, June 18, 2019 • June 18, 2019

Consumer lending app, Tala, has disbursed loans to over 2.5 million customers globally. This was revealed during the celebra­tions to mark the firm’s fifth anni­versary…full story


Private sector upbeat over budget
The Standard, June 18, 2019 • June 18, 2019

The private sector has lauded the 2019/2020 Budget and tax measures presented by Treasury Cabinet Secretary Henry Rotich last week, noting that the govern­ment now needs to follow through on proposed austerity measures…full story


Limitations in Rotich’s Sh3tr budget could up inflation
The Standard, June 18, 2019 • June 18, 2019

Treasury has presented a budget of almost Sh3 tril­lion or $29 billion for the fiscal year 2019/2020. Someone should tell us how much of this amount will be generated inter­nally and externally…full story


It’s time for realistic spending estimates
The Standard, June 18, 2019 • June 18, 2019

Treasury succeeded last week in undermining its reputation as an institution that can make a credible budget. Worse still, it has destroyed Kenya Revenue Authority (KRA) officials’ self­ confidence to meet targets…full story


Africa sees rise in foreign investment
Daily Nation | June 18, 2019 • June 18, 2019

Foreign investment in sub-Saharan Africa rose 13 per cent last year to Sh 3.2 trillion ($32 billion), bucking a global downward trend and reversing two years of decline, according to a United Nations report. Foreign investment in Uganda jumped 67 per cent to a record Shl30 billion ($13 billion), boosted by the oil and gas […]


Small firms listing in bourse to lose Gems tax amnesty on exit
Daily Nation, June 18, 2019        • June 18, 2019

Small firms that receive a tax penalty amnesty after listing on the Nairobi Securities Exchange (NSE) growth and enterprise segment will lose the immunity should they delist within five years, the Treasury says in the Finance Bill 2019…full story


Huge budget is not sustainable, a burden and ignores Wanjiku
Daily Nation, June 18, 2019 • June 18, 2019

Daily Nation, June 18, 2019 The 3.02 trillion budget read by National Treasury Cabinet Secretary Henry Rotich on Thursday may be quite huge but it ignores the basic needs of the ordinary Kenyan and is unsustainable and burdensome…full story


The folly of Kenya’s fiscal policy
Standard Digital, June 18, 2019 • June 18, 2019

The Government has over the years continued to increase its expenditure in what would be called expansionary fiscal policy in its efforts to influence the growth of the economy…full story


CBK ignored ex AG opinion on new notes
Daily Nation, June 17, 2019 • June 17, 2019

The Central Bank of Kenya disregarded the legal opinion of former Attorney General Githu Muigai on the features of the country’s new currency, it has emerged…full story


The taxman could very soon start collecting taxes for counties: Henry Rotich
The Standard, June 17, 2019 • June 17, 2019

This is good because most of the tax collected by county governments ends up being wasted through unnecessary recurrent expenditure, or pure graft…full story


Revive agricultural extension services to boost production                 
The Standard, June 17, 2019 • June 17, 2019

Some of the commercial agricul­tural ventures such as tea, coffee, sugar, pyrethrum, tobacco, horticulture and dairy, the clients ful­ly pay for the services which are provided largely by private companies…full story


Financiers may be denying freelancers loans at own cost
Business Daily, June 17, 2019 • June 17, 2019

The other day, I was chatting with the business development manager of a bank which was established to serve small and micro-enterprises as its main customers…full story


AM Live: Budget 2019-2020 Review
NTV, June 14 2019 • June 17, 2019

Honda Motorcycle Kenya Chairman Isaac Kalua, KAM CEO Phyllis Wakiaga, Amana Capital CIO Reginald Kadzutu, Bidco Africa Group Director Chris Diaz reviews 2019-2020 Budget which was yesterday by Treasury CS Henry Rotich…video


Boda boda industry is key cog in our economy
Business Daily, June 14, 2019 • June 14, 2019

The use of boda-boda services is even more prevalent in rural areas where public transport may not be so sophisticated and the roads are not well developed…full story


Budget still heavy on spending amid graft
Daily Nation, June 14, 2019 • June 14, 2019

The Budget read yesterday continued the trend in recent years Heavy on spending an d thin on wealth creation. The proposed Sh3 trillion Budget, the highest ever, is largely driven by hefty expenditure on recurrent cost s and infrastructure projects and, for the latter, some of questionable value. To fun d the Budget, Mr Rotich […]


Stop sideshows on new money and embrace it
Daily Nation, June 12, 2019     • June 12, 2019

Many people have expressed their disappointment with the new currency notes, claiming that due process was not followed before making them legal tender…full story


Tanzanians warned over Kenya cash
Daily Nation, June 12, 2019 • June 12, 2019

The Tanzania Bankers Asso­ciation has told customers that they will take personal respon­sibility for handling Kenyan currency after freezing the con­ version of the Kenyan shilling. In a circular to local banks dated June 7, BOT says it has received a directive from the Central Bank of Kenya (CBK) to suspend the conversion and repatriation […]


Choice MFB seeks nod for strategic shareholder
Business Daily |June 12, 2019 • June 12, 2019

Shareholders will cede majority stake to a strategic investor as it seeks fresh capital to finance expansion and boost lending capacity…full story


CBK orders banks to file reports on new currency seekers
Business Daily |June 12, 2019 • June 12, 2019

The Central Bank of Kenya (CBK) has instructed commer­cial banks to file weekly reports on persons exchanging old notes in part of strict measures seek­ing to curb circulation of illicit money in the economy…full story


Bourse needs a fresh value pitch for family companies
Business Daily |June 12, 2019 • June 12, 2019

Reading through the 2018 Family Business Survey 2018 by PWC, we find all the reasons why family businesses see the Nairobi Securities Exchange (NSE) as unappealing…full story


Njoroge is tops on character, it’s now time to tighten money bolts
Daily Nation | June 12, 2019 • June 12, 2019

Dr Patrick Njoroge, who has just been reappointed to serve as Governor of the Central Bank of Kenya for another four-year term, is a man devoid of ego and instinctively averse to self-advertisement…full story


How to make new currency work for Kenya’s economy
The Standard, June 12, 2019 • June 12, 2019

In the next few months, econ­omists shall pay close attention to how the Central Bank of Kenya will navigate the sensitive process of demonetization…full story


Shilling crosses 102 mark against the US dollar
The Star, June 12, 2019 • June 12, 2019

The shilling yesterday slid into the Sh102 zone against the dollar before strengthening, an aspect attributed to the demonetisation exercise and demand by importers. The sudden jump may have prompted CBK to issue a statement alerting CEOs of commercial banks to ensure strict rules are followed when accepting old Shl,000 notes to avoid money laundering…full […]


Few options left to Rotich on taxes
The Standard, June 12, 2019 • June 12, 2019

Kenyans will be staring at increased taxation when the national budget is unveiled before Parliament tomorrow. On gambling, Muema said that the position held by Inte­rior CS Fred Matiang’i on erecting stricter betting controls would inform new taxes, which would act as a deterrent as well as a cash cow…full story


China is ready for trade talks with East Africa -ambassador
The Star, June 11, 2019 • June 11, 2019

China is ready to negoti­ate a trade deal with the six-nation East Africa Community (EAC) to address Kenya’s complaints about a huge trade imbalance in favour of the Asian economic giant, China’s ambassador to Nairobi told Reuters…full story


Public rants ought not to stall economy
The Standard, June 11, 2019 • June 11, 2019

Kenyan leaders should discuss their issues in a way that does merit the growth of the economy. This proposition is borne out of the realization that despite the leaders’ often raucous disagreements on a wide range of issues, .he economy is projected to hit the Shl.0.1 trillion mark this year…full story


Saccos to cut dividends as new rules on loans effected
The People Daily, June 11, 2019      • June 11, 2019

Saccos expect to announce reduced dividends this year following the adoption of the new financial reporting standards which were effected in January…full story


EACC bosses quizzed over price of Integrity
Daily Nation, June 11, 2019 • June 11, 2019

The Ethics and Anti -Corruption Commission (EACC) has disputed the Sh400 million that was the original value of Integrity Centre saying the building was undervalued. Commission chairman Eliud Wabukala denied reports that the commission…full story


US adopts rules to prevent broker conflicts, boost disclosure
Business Daily, June 11, 2019 • June 11, 2019

 The US Securities and Ex· change Commission (SEC) last week voted to adopt a package of rules requiring bro­kerage firms to disclose potential conflicts in the fees investors pay and the commissions brokers earn when giving financial advice…full story


How free trade deal will boost Africa economy
The People Daily, June 11, 2019 • June 11, 2019

A look at some of the benefits expected from the African Continental Free Trade Area Agreement signed in March 2018…full story


Domestic resource mobilization key to debt management
Daily Nation, June 11, 2019 • June 11, 2019

Kenya is at the cross roads as it strives to grow into an upper middle income country by 2030, this follows rebasing of the economy in 2014, which raised its economic status into a lower middle-income country…full story


Central Bank boss’s Sh217bn notes
Daily Nation, June 11, 2019 • June 11, 2019

CBK move has been a mixed bag of fortunes for countries that have taken the route, with some thriving and others hurting those meant to be protected…full story


Silent plans to raise age of retirement underway
The Standard, June 11, 2019 • June 11, 2019

Is there a plan to increase the retirement age to 65? Well a birdie has whispered to The Grapevine that some mandarins in the Government are seriously considering to raise the retirement age from the current 60 years…full story


Financial institutions’ boom pushes county to path of economic growth
Daily Nation, June 11, 2019 • June 11, 2019

Kisii County has recorded massive economic growth in the past five years as the region beams with over 25 financial institutions. The opening of the Central Bank of Kenya (CBK) currency centre at the Barclays Bank of Kenya cements the growth. People in Kisii grow bananas, maize, tea, coffee, dairy, horticulture and some are in […]


Boosting agriculture, tourism will reduce Kenya’s unproductive debt
The Standard, June 11, 2019 • June 11, 2019

As at June 2018, Kenya’s main foreign lenders included commercial banks, China and World Bank at 33 per cent, 22 per cent and 20 per cent respectively. Interestingly, Kenya owes foreign debt to more than 20 countries and institutions though China is the most known…full story


Agriculture budget now slashed further, risking food security
The Star | June 10, 2019 • June 10, 2019

Food security experts are worried about declining budgetary allocation to agriculture despite the sector contributing most to the economy…full story


Urithi’s housing bubble bursts as bank puts 100-acre parcel on sale
Daily Nation | June 10, 2019 • June 10, 2019

With a local bank putting up for sale one hundred acres of land belonging to Urithi Housing Co-operative Society, the housing bubble for one of Kenya’s leading real estate developers appears to have burst, and left thousands of its members in a quandary…full story


Urithi’s housing bubble bursts as bank puts 100-acre parcel on sale
Daily Nation | June 10, 2019 • June 10, 2019

With a local bank putting up for sale one hundred acres of land belonging to Urithi Housing Co-operative Society, the housing bubble for one of Kenya’s leading real estate developers appears to have burst, and left thousands of its members in a quandary…full story


Tz suspends conversion of Kenyan currencies
The People Daily | June 10, 2019 • June 10, 2019

The Bank of Tanzania has suspended conversion of Kenyan currencies to Tanzanian with immediate effect. In a notice dated Friday, June 7, the lender of last resort says this follows guidance from Central Bank of Kenya (CBK) to that effect…full story


Digital lenders unveil their own lobby
The Standard | June 10, 2019 • June 10, 2019

Digital lenders in the country have unveiled their own lobby. The Digital Lenders Association of Kenya (DLAK), they said, is aimed at promoting industry best practice and driving a coordinated approach in addressing the emerging issues in the industry…full story


UK, Kenyan detectives monitor forex bureaus
The Standard | June 10, 2019 • June 10, 2019

Kenyan and British authorities are monitoring forex exchange bureaus to ensure dirty money is not changed into British Pound. Central Bank of Kenya (CBK) has directed that all old Sh1,000 notes be replaced with the new generation notes by October 1 this year…full story


National Bank lays off 112 employees
Business Daily | June 10, 2019 • June 10, 2019

National Bank of Kenya (NBK) retrenched 112 employees who took up a voluntary early re­tirement offer last year in an exercise that cost the lender Sh541.2 million…full story


CfC Stanbic fined Sh1m for wrong credit bureau listing
Business Daily | June 10, 2019 • June 10, 2019

CFC Stanbic Bank has been or­dered to pay a senior govern­ment employee Sh1million after listing his name at a credit refer­ence bureau (CRB) as a defaulter…full story


Sino-US conflict puts NSE at risk of investor flight
Daily Nation | May 24, 2019 • June 10, 2019

The stock market is at risk of a return to foreign investor flight that characterised the second half of 2018 should trade ten­sions between the US and China continue to rise, analysts say…full story


Brokers lose as NSE bonds trade falls 18pc
Business Daily | June 10, 2019 • June 10, 2019

Nairobi Securities Exchange (NSE) bond turnover NSE fell by 18 percent last month to Sh54.6 billion, cutting brokers’ income…full story


Credit Bank seeking Sh2bn in rights issue
Daily Nation | June 7, 2019 • June 7, 2019

Credit Bank is set to raise Sh2 billion through a rights issue to boost capital and for expansion…full story


Equity plants Sh1bn in farming
The Star | June 7, 2019 • June 7, 2019

Top tier lender, Equity, has invested Sh1 billion in efforts to improve livelihoods of smallholder farmers. The money will help farmers by providing better market access, capacity building and expansion of the agricultural production value chain…full story


Swiss regulators fine banks in forex rigging ‘cartels’
Business Daily | June 7, 2019 • June 7, 2019

Swiss competition authorities said yesterday they had fined five large banks some 90 mil­lion about Sh9.1 billion for collusion in foreign exchange trading, following steep fines recently imposed by Brussels…full story


Banks deal case set for June 26
The People Daily | June 7, 2019 • June 7, 2019

The High Court has declined to suspend the intended takeover of National Bank of Kenya by the Kenya Commercial Bank pending hearing and determination of the case…full story


Lenders faulted for ‘punitive’ rates
The Standard | June 7, 2019 • June 7, 2019

Mobile money platforms like M-Shwari and Fuliza have been accused of impoverishing low-income households in Africa…full story


T-bills drop Sh40bn on debt maturities
Business Daily | June 7, 2019 • June 7, 2019

Latest Central Bank of Kenya (CBK) data shows that there was Sh963.7 billion worth of outstanding Treasury bills by May 24, representing 34.7 percent of total domestic debt…full story


NSE mulls policy farcing listing of private firms
Business Daily | June 7, 2019 • June 7, 2019

Stakeholders at the Nairobi bourse are lobbying for a pol­ icy that will seek to have the most successful and impactful local private companies cede part ownership to Kenyans by listing on the Nairobi Securities Exchange NSE…full story


How NSE plans to give Kenyans a piece of local firms’ success pie
Daily Nation | June 7, 2019 • June 7, 2019

Stakeholders want success­ful local firms to be forced through legal reforms to cede part ownership to Kenyans by listing at the Nairobi Securities Exchange (NSE)…full story


NSE foreign inflows hit, 33-month high in May
Business Daily | June 6, 2019 • June 7, 2019

Market data compiled by Standard Investment Bank shows that they directed inflows mainly to Safaricom, EABL, BAT Kenya, Equity, Barclays and KCB continu­ing their preference for the large liquid counters


THE DATA: 51.3% Growth in private sector activity
The Star | June 6, 2019 • June 7, 2019

Private sector activity grew to 51.3 per cent last month compared to 49.3 per cent In April. This is the first increase in five months…full story


What you should know before selling a business
Business Daily | June 6, 2019 • June 7, 2019

Nearly 550,000 people be­come business owners every month, according to the Kauffman Index of Startup Activity. Many of these new entrepreneurs get into the startup space with one goal in mind: selling a business…full story


How CBK tracks movement of cash in Kenya economy
The People Daily | June 6, 2019 • June 7, 2019

Central Bank of Kenya (CBK) is in the process of demonetising 217.6 million pieces of the Sh1,000 old series notes, which its data shows is currently circulating in the economy…full story


How new cash rule will affect property scene
Daily Nation | June 6, 2019 • June 7, 2019

Central Bank of Kenya’s directive on the demonetization of the current currency will shock the property sector in the short-term, especially in the supplies and low-cost sections…full story


Mozambique’s top court says Eurobond illegal
Business Daily | June 6, 2019 • June 7, 2019

Mozambique’s top court has ruled that a government-guar­anteed $850 million Eurobond issued by state-run tuna-fishi­ng company Ematum in 2013 was illegal, court documents showed…full story


Demonetisation is a mixed bag of blessing and anathema to Kenyans
Daily Nation | June 6, 2019 • June 7, 2019

On November 8, 2016, just as Donald T rump was about to stun the world with his US presidential election victory, Indian Prime Minister Narendra Modi made a surprise announcement that the government would invalidate 500-and 1,000-rupee notes…full story


Interbank rate to shrink further as CBK moves to phase out old notes – experts
The Star | June 6, 2019 • June 7, 2019

Banks lent to each other at an av­erage interest rate of 3. 77 per cent on June 3, indicating a continued declining trend since May, driven by increased liquidity and high di­aspora remittances…full story


Barclays sounds the alarm on banking overregulation
Business Daily | June 6, 2019 • June 7, 2019

Barclays Bank of Kenya says it sees banking services possibly becoming more costly in the near future due to increased regulations in the sector. Banks have witnessed height­ened scrutiny, backed by new regulations under the reign of Central Bank of Kenya governor Patrick Njoroge…full story


NIC buys Jamii Bank Sh412m KQ loan
Daily Nation | June 3, 2019 • June 3, 2019

Jamii Bora Bank sold its Sh412 million Kenya Airways loan to rival NIC Bank after sidestepping the national carrier’s debt-to-equity transactions…full story


Affordable homes plan on Uhuru
The Standard| June 3, 2019 • June 3, 2019

President Uhuru Kenyatta says his administration is on course to provide 500,000 affordable homes over the next three years…full story


Last day for public input on draft CBK Microfinance Bill
Business Daily | June 3, 2019 • June 3, 2019

This is the last day for the public to submit comments on Central Bank of Kenya Microfinance Bill, 2019, which seeks to review the existing regulatory and supervi­sory framework for microfinance banks…full story


Treasury in Sh40bn closing bond offers
Business Daily | June 3, 2019 • June 3, 2019

The Treasury has kicked off the sale of the current fiscal year’s last bond offer, with a Liquid money market expected to support bid volumes…full story


Banks fall back to customer loans as bond interest declines
The Star | June 3, 2019 • June 3, 2019

Commercial banks have been in­creasing their lending to customers in the three months to March as they avoid low interest rate offered by the Treasury Bonds…full story


Co-op Bank shareholders receive Sh5.9bn dividends
Business Daily | June 3, 2019 • June 3, 2019

Cooperative Bank of Kenya shareholders are set to receive Sh5.9 billion dividends after shareholders approved a Sh1 per share payout in the recently held annual general meeting…full story


How Archives morphed from bank to a fount of knowledge
Daily Nation | May 31, 2019 • May 31, 2019

Being in the Kenya National Archives, on Moi Avenue in Nairobi’s city centre, is like traveling back in time…full story


Equity's digital platforms eclipse traditional banking
The Star | May 31, 2019 • May 31, 2019

Equity Bank’s first quarter results are a clear indication Kenyan’s prefer digital banking over the traditional brick and mortar branches…full story


All eyes now on NBK shareholders after KCB approves deal
Business Daily | May 31, 2019 • May 31, 2019

KCB shareholders have given their approval for the bank to buy out NBK during their AGM, leaving the ball in the courts of the regulators and National Bank shareholders…full story


NBK earns Sh106m in the first quarter
Daily Nation | May 31, 2019 • May 31, 2019

National Bank of Kenya (NBK) made a net profit of Sh106.3 million in the first quarter ended March, reversing a net loss of Sh278.5 million a year earlier…full story


EA businesses most likely to be disrupted by cyber attacks
The People Daily | May 31, 2019 • May 31, 2019

Less than haIf of business firms in the Eastern Africa region can respond to a cyber attack i n their technology infrastructure. A report published by KMPG East Africa 2019 Global CEO Outlook re­veals that in 2019 only 46 per cent of East African CEOs are prepared for cyber attacks…full story


Rotich owes Kenyans explanation over huge debt and heavy spending
Daily Nation | May 31, 2019 • May 31, 2019

All the parameters, when analysed from June 2012 to June 2019, point to a reckless government hell-bent on an unchecked, unplanned and uncoordinated borrowing spree…full story


Kenya to pay new World Bank loan fo 30 years
Business Daily | May 31, 2019 • May 31, 2019

The latest Sh75 billion loan ad­vanced to Kenya by the World Bank will saddle taxpayers with debt for 30 years, adding the burden on future generations to repay the country’s mount­ing loans…full story


Agency drafting rules on trustee fees
Daily Nation • May 31, 2019

The pensions regulator is drafting guidelines to check the growing appetite of trustees who determine their own expenses, in the process cutting what retirees eventually receive. The Retirement Benefits Au…full story


NSE gets regulator's nod to start derivatives trade
The Star, May 30, 2019 • May 30, 2019

The Capital Markets Authority has given a go-ahead for the trailing of Derivatives at the Nairobi Securities Exchange…full story


How inclusive business can lift millions out of poverty
Business Daily, May 30, 2019 • May 30, 2019

The World Bank has set a high­ly ambitious target to reduce extreme poverty (defined as those living below $1.90 a day) to three per cent of the world’s population by 2030…full story


World Bank approves Sh75bn loan
Daily Nation, May 30, 2019 • May 30, 2019

The World Bank has approved the Sh75 billion loan request by Kenya, further raising the country’s debt…full story


CBK to open currency centre to ease cash flow
Daily Nation, May 30, 2019 • May 30, 2019

The Central Bank of Kenya (CBK) will open a currency centre in Kisii County to help ease the transit of cash from individual banks to its units. The initiative, being carried out in partnership with the Barclays Bank of Kenya, is at an advanced stage, bank officials have said…full story


CBK boss calls for debt restructure
Business Daily, May 30, 2019 • May 30, 2019

Kenya’s headroom for new borrowing has shrunk since it tapped the Eurobond mar­ket this month and it is time for the country to begin reor­ganising its debt, Central Bank governor Patrick Njoroge said on Tuesday…full story


How capital markets can finance housing projects
Business Daily, May 30, 2019 • May 30, 2019

Since President Uhuru Ken­yatta launched Affordable Housing as part of the Big Four Agenda in December 2017, substantial progress has been made towards delivering affordable housing, but a Jot more needs to be done, especially in terms of enabling private capital to flow towards financing of low to mid income housing…full story


Do not allow vested interests to derail best chance at saving NBK
Daily Nation | May 29, 2019 • May 29, 2019

We predicted in this column that private parties with vested interests in the troubled National Bank of Kenya would come out strongly to oppose the proposal to merge it with Kenya Commercial Bank…full story


KCB amends deal to rescue National Bank
Daily Nation | May 29, 2019 • May 29, 2019

KCB Group has in­creased the number of shares it is offering to take over troubled National Bank of Kenya (NBK) by 5,848, ahead of the lender’s AGM tomorrow…full story


Mobile shylocks robbing Kenyans – Central Bank
The Star | May 29, 2019 • May 29, 2019

The Central Bank of Kenya wants digital lending applications to be regulated just like financial products are manned in the banking sector…full story


Bad bank loans hit new 10-year high
The Star | May 29, 2019 • May 29, 2019

Defaulters have pushed up banks bad loans portfolio to a new decade high of 12. 9 per cent in two months to April, according to the Central Bank of Kenya governor…full story


Mobile lending props bank's profit
The Standard | May 29, 2019 • May 29, 2019

Family Bank posted a four-fold jump in net profit for the first quarter of this year to Shl60.8 million from Sh35.8 million last year. Meanwhile, the Central Bank Governor Patrick Njoroge (pictured) yesterday lauded the ongoing mergers of banks in the country…full story


T-bills uptake rises but yields fall
Business Daily | May 29, 2019 • May 29, 2019

The Central Bank of Ken­ya (CBK), government’s fis­cal agent, received bids worth Sh31.53 billion for three, six and 12-month securities it of­fered for sale against a target of Sh24 billion…full story


Senators call for regulation of mobile phone loans
Business Daily | May 29, 2019 • May 29, 2019

Senators yesterday called for regulation of mobile phone­ based lenders on claims they are saddling borrowers with high-interest rates…full story


Treasury's excessive borrowing hurting
Daily Nation| May 29, 2019 • May 29, 2019

The tell-tale signs that Kenya has plunged into a debt trap are there. One, the amounts involved are progressively getting smaller; a sign of desperation amid lender concerns of credit worthiness…full story


Agriculture firm raises Sh8bn to fund export of grains in Africa
Daily Nation| May 29, 2019 • May 29, 2019

Agricultural commodities firm Export Trading Group (ETG) is raising $80 million (Sh8 billion) to finance its export of grains and import of fertilizers in African countries…full story


Diaspora inflows cut imports gap to 4.5pc
Business Daily | May 29, 2019 • May 29, 2019

Remittances by Kenyans living abroad grew 13 percent in April to Sh24.7 billion compared to the same month last year, helping keep the current account deficit below five percent…full story


Kenya has hit debt ceiling, says CBK boss
The People Daily | May 29, 2019 • May 29, 2019

Treasury in Catch-22 situation as the borrowing headroom has shrunk- and Njoroge says the option is to restructure maturing loans to ease pressure on repayments in an economy with stagnating revenue earnings…full story


Coffee farmers dealt a big blow as global prices drop due to oversupply
Daily Nation, May 28, 2019 • May 28, 2019

Coffee farmers have been dealt a blow as the price of the cash crop drops in the international market due to oversupply despite a drop in production locally…full story


Co-operative Bank leading shareholder earns Sh3.78 billion
Daily Nation, May 28, 2019 • May 28, 2019

Co-operative Bank’s top shareholder, Co-op Holdings Co-operative Society, received a Sh3.78 billion dividend cheque, becoming the largest payout in 11 years…full story


World Bank withholds Sh1b for lake conservation efforts
The Standard, May 28, 2019 • May 28, 2019

The quest to address envi­ronmental challenges facing the Lake Victoria Basin has been dealt a blow after World Bank withheld Sh 10 billion for the third phase of Lake Victo­ria Environmental Management Programme (Lvemp)…full story


Fact-checker: Why numbers on Kenya's housing shortage are misleading
The Standard, May 28, 2019 • May 28, 2019

The state of the country’s housing shortage has been the question at the centre of the Government’s proposed affordable housing plan that aims to build more than 500,000 new units by 2022 funded by taxpayers…full story


Joint ventures key to affordable housing provision
The People Daily, May 28, 2019 • May 28, 2019

Millions of Kenyans eager for a break from the threat of a life-long rent burden have a reason to be optimistic following the inclusion of affordable housing in the government’s Big Four agenda. The Central Bank reported that mortgage uptake in Kenya has been on the decline, with only 28,000 mortgages taken in 2018…full story


Broke Kenya applies for World Bank loan
Daily Nation, May 28, 2019 • May 28, 2019

The money Kenya is seeking from the World Bank. It is for budget support, which is not tied to specific projects and can be used to fund politically important activities. The cash could also be vulnerable to appropriation by corrupt political elite…full story


Five ways to improve your credit score
Business Daily, May 28, 2019 • May 28, 2019

The writer speaks on the five ways that one can use to improve their credit score…full story


Central Bank retains lending rate at 9pc
Business Daily, May 28, 2019 • May 28, 2019

Borrowers have been spared the higher cost of loans after the Central Bank of Kenya (CBK) retained its benchmark lending rate at 9.0 percent for the sixth time in a row as lenders continue to withhold credit to the private sector…full story


Foreigners turnover at the NSE rises to 75pc
Business Daily | May 27, 2019 • May 27, 2019

Foreign investors accounted for a higher share of turnover at the Nairobi Securities Ex­change (NSE) in the first four months of the year compared to the same period last year as their market sentiment turned to the buy side…full story


Banks tighten controls after Sh392m NYS fines
Business Daily | May 27, 2019 • May 27, 2019

Five banks that were fined Sh392.S million for handling billions of shillings stolen from the National Youth Service (NYS) have moved to tighten their controls to reduce the risk of such incidences recurring…full story


Prime Bank takes Midland Hauliers into administration
Business Daily | May 27, 2019 • May 27, 2019

Prime Bank has appointed an administrator for Midland Hauliers Limited Company after the transporter defaulted on its loan whose size has not been disclosed…full story


Mayfair Bank losses narrow in Q1 outlook
The Star | May 27, 2019 • May 27, 2019

Tier three lender Mayfair bank has posted steady growth in the first quarter of 2019 with reduced losses recorded com­pared to the previous year…full story


NIC staff count up by 203 on new branches
Business Daily | May 27, 2019 • May 27, 2019

NIC Group hired 203 more employees last year, raising its staff count to 1,350, breaking ranks with most other lenders whose workforce has been shrinking partly due to branch closures and increased adoption of technology…full story


Stanbic mobile loan targets distributors
Daily Nation | May 27, 2019 • May 27, 2019

Stanbic Bank is eyeing distributors and suppliers through a short-term mobile loan product dubbed M-Jeki…full story


Ecobank Kenya has new chief executive
Daily Nation | May 27, 2019 • May 27, 2019

Ecobank Group has appointed Cheick Travaly as the managing director for the Kenyan unit, replacing Samuel Adjei who retired late last month…full story


CBK stares at crisis as terms expire
Sunday Nation | May 26, 2019 • May 27, 2019

The terms of top executives at Central Bank of Kenya (CBK) are set to expire at around the same time in June, potentially presenting a transition headache for the regulator…full story


Unsecured, quick loans a key lifeline for SMEs
Business Daily| May 27, 2019 • May 27, 2019

Financial companies are in­creasingly adopting lending applications in a bid to expand access to unsecured credit services among individuals and companies, especially SMEs. The banks initially involved in the project included Commercial bank of Africa, Barclays, Central Bank of Kenya among others…full story


MP now wants credit bureau law abolished
Daily Nation | May 24, 2019 • May 24, 2019

A legislator has initiated the process of scrapping the law that has seen hundreds of thousands of borrowers listed for defaulting on small loans with the Credit Reference Bureau (CRB)…full story


Counties' bank plan runs into legal hurdle
The Standard | May 24, 2019 • May 24, 2019

Plans by 14 counties to establish the much anticipated regional bank have hit a snag. The money has been deposited in a special depository account which was opened last year at the Central Bank as required by the law…full story


Demystifying mergers, takeovers of firms
Business Daily | May 24, 2019 • May 24, 2019

Currently, various companies such as Commercial of Africa and NIC Bank, KCB and National Bank of Kenya are in the process of undertaking a merger…full story


Mayfair Bank narrows loss to Sh76 million
Daily Nation | May 24, 2019 • May 24, 2019

Mayfair Bank recorded steady growth as it narrowed its net loss to Sh76 million in the first quarter that ended in March compared to Sh89.1 million a year earlier…full story


StanChart appoints Obath as chairman
Daily Nation | May 24, 2019 • May 24, 2019

Standard Chartered Bank (Kenya) has appointed Patrick Obath as board chairman to replace Anne Mutahi, whose five­ year tenure ended in December…full story


Assured growth is when private sector thrives
The Standard | May 24, 2019 • May 24, 2019

Ronald Reagen famously noted that Outside of its legitimate function, government does nothing as well or as economically as the private sector. The basic argument is that you can spend your money better than government can…full story


Cytonn gets two more pension nods
Daily Nation, May 23, 2019 • May 23, 2019

Cytonn Asset Managers Ltd has received two licences to offer personal re­tirement benefit schemes with a monthly payment platform. It is now allowed by the Retirement Benefits Authority to manage seg­regated funds, personal pension funds and income drawdown funds…full story


Kenya tops Africa in offering good digital life
Daily Nation, May 23, 2019 • May 23, 2019

Kenya has been ranked the best among African countries that offer good digital life in the latest Expat Insider report released by InterNations. In the survey, Kenya is ranked 31st glob­ally, ahead of South Africa (49), Morocco (58), Uganda (59) and Egypt (69)…


Lower mortgage rates to unlock Kenyans' homeownership dream
Daily Nation, May 23, 2019 • May 23, 2019

Kenyans earning Sh150,000 and below per month are set to get house loans from local financial institutions at rates below 10 percent after the country launched its first secondary mort­gage financier yesterday. The cash reserve at its disposal is a mere drop in the ocean given that the 26,187 mortgage accounts that commercial banks now […]


Government lines up incentives for blue economy sector
The Standard, May 23, 2019 • May 23, 2019

It is proposed that once an oil marketing company supplies a licensed fishing vessel, it can claim tax paid from KRA in accordance with laid down procedures…full story


Investing in climate-smart ventures key to sustainability
The Standard, May 23, 2019 • May 23, 2019

Flactuating rainfall patterns, extreme heatwaves, rise in sea levels, frequent cyclones all point to climate change. The result has been dire on human lives, ecosystems, livestock, wildlife and economies. Chang­ing weather patterns negatively impact livelihoods. It means poor agricultural productivity occasioning widespread food shortages…full story


Treasury's borrowing lifts Co-op Bank profit
The Standard, May 23, 2019 • May 23, 2019

Co-operative is one of the five banks that has committed to lend to give unsecured loans to SMEs through a Central Bank-backed initiative known as Stawi that was launched on Monday…full story


Economy flying into headwinds
The People Daily, May 23, 2019 • May 23, 2019

Kenya’s economy is headed for tougher times even as National Treasury pro­ poses a Sh3.08 trillion budget for the 2019/20 financial year with projections growth may not surpass last year’s expan­sion of 6.3 per cent…full story


6.68%: Kenya's April inflation rate
The Star, May 23, 2019 • May 23, 2019

Inflation hit a 58-month high in May 2017 as a result of a prolonged dry spell the preceding year…full story


101.17: The Indicative value of the shilling to the dollar
The Star, May 23, 2019 • May 23, 2019

The Kenyan shilling weakened against the dollar on Wednesday due to increased end-month dollar demand from oil and merchandise importers, traders said…full story


County in cheap youth loans deal with KCB
Daily Nation | May 22, 2019 • May 22, 2019

The Meru County government has signed an agreement with Kenya Commercial Bank to help graduates access loans at a lower interest rate of three percent…full story


Ex-Chase Bank boss gave firms linked to him Sh1 billion unsecured loans
Business Daily | May 22, 2019 • May 22, 2019

The former chairman of the collapsed Chase Bank advanced companies associated with him loans amounting to over Sh1 bil­lion without securities, a court heard yesterday…full story


Public warned on conmen in housing plan
Daily Nation, May 21, 2019 • May 22, 2019

The government has cautioned Kenyans against dealing with people claiming to be in a position to allo­cate them houses in the affordable housing programme’s Park Road project at a fee…full story


SMEs' loan facility a step in right direction
Business Daily, May 21, 2019 • May 22, 2019

The newly-launched Central Bank of Ken­ya-backed loan facility targeting small businesses provides hope for many in the current constricted economic environment…full story


SMEs' loan facility a step in right direction
Business Daily, May 21, 2019 • May 22, 2019

The newly-launched Central Bank of Ken­ya-backed loan facility targeting small businesses provides hope for many in the current constricted economic environment…full story


Bt cotton lessons from Burkina Faso
Daily Nation, May 21, 2019 • May 22, 2019

At a forum on biotech crops and the ‘Big our Agenda’ at the University of Nairobi on April 24, critics of biotechnology, citing the Burkina Faso cotton fiasco, repeatedly misrepresented the facts about its genetically modified (GM) cotton farming…full story


New strategy can deliver agricultural industries
Business Daily, May 21, 2019 • May 22, 2019

The recently published 2019-29 Agricultural Strategy comprehensively details key drivers for agriculture, a sector which has been intensely studied, talked about, but never prioritised with enough budgetary resources or political focus. It is a strategy that is 20 years too late…full story


Smart money tips from the experts
The Standard, May 21, 2019 • May 22, 2019

There are tax-free environments where you can invest your money. A good example is a bank like PostBank, where interest income from fixed deposits is tax exempted. This is because PostBank is regulated by the Kenya Post Office Savings Bank Act Cap 493B, while other commercial banks in Kenya are licensed and regulated by the […]


State should explain the smoke and mirrors Eurobond games
Daily Nation, May 21, 2019 • May 22, 2019

The three Eurobonds by Kenya preceding the recent one were promptly issued on the Irish Stock Exchange. On Monday, I visited their website to get details on the latest one, including the prospectus…full story


CMA clears six traders in KenolKobil scandal
The Standard, May 21, 2019 • May 22, 2019

The Capital Markets Authority (CMA) has dropped a second suspect and five traders under investigation into the KenolKobil insider trading scandal…full story


Credit facilities that aid business continuity
Business Daily, May 21, 2019 • May 22, 2019

Kenya’s economy is blossoming. Howev­er, most small and medium businesses continue to face great financial challenges. It is costly to build, maintain and grow a business today…full story


Five banks launch Sh30,000 SME loans
Business Daily, May 21, 2019 • May 21, 2019

Five commercial banks have unveiled a Central Bank of Ken­ya-backed loan facility targeting small businesses…full story


Sh300bn debt payments to kickstart NSE bond market
Daily Nation, May 21, 2019 • May 21, 2019

The secondary bonds market at the Nairobi bourse has been tipped to witness higher activity in the next two months from inflows of rising maturing debt amid expected lower appetite for new borrowing by the government…full story


Require all saccos to automate operations
Daily Nation, May 21, 2019 • May 21, 2019

Saccos play a major role in saving and credit services offered at a low interest rate, an advantage that they have over commercial banks and microfinance institutions…full story


Office of Chief Economist would help to promote value for money
Daily Nation, May 21, 2019 • May 21, 2019

The Kenya Economic Update released last month by the World Bank lays out familiar recommendations for boosting agricultural productivity…full story


CBK audit report blamed for Chase Bank woes
Daily Nation, May 21, 2019 • May 21, 2019

An audit report published by the Central Bank of Kenya (CBK) and a private audit firm in March 2016 triggered panic withdrawals from the Chase Bank leading to its closure, a court heard yesterday The NBK staff, who joined the Chase Bank in 2014 after a 16-year stint at Barclays Bank, said he could not […]


New standards unveiled
Daily Nation, May 21, 2019 • May 21, 2019

Kenya Bureau of Standards director, metrology and testing Henry Rotich, acting managing director Bernard Nguyo, International Organisation for Standardisation president-elect Eddy Njoroge and National Standards Council chairman Ken Wathome during the World Metrology Day in Nairobi yesterday where revised SI standards were unveiled…full story


Kenya's small banks struggle as sector asks tough queries
Daily Nation, May 21, 2019 • May 21, 2019

Central Bank of Kenya Governor Patrick Njoroge bas continued to challenge banks to continue deepen­ing alternative channels if they are to increase efficiency by sweating their assets even more. The big banks in Kenyan market includes Barclays Bank, Equity, CBA, KCB, Co-operative Bank among others…full story


CMA recovers Sh19m linked to KenolKobil rogue traders
Daily Nation, May 21, 2019 • May 21, 2019

The Capital Markets Authority ( CMA) has recovered an additional Sh19 million from rogue traders at the centre of an insider trading investigation involving oil marketer KenolKobil ahead of the firm’s take­ over by French firm Rubis Energie…full story


Suspect in fake gold scam sued over Sh8.9m loan
The Standard | May 20, 2019 • May 20, 2019

Politician Zaheer Jhanda, who is at the centre of an unfolding fake gold scam, has been sued by a bank for defaulting on a Sh8.9 million loan…full story


Government denies targeting small scale traders in ongoing crackdown on fakes
The Standard | May 20, 2019 • May 20, 2019

The Anti-Counterfeit Authority (ACA) has denied the Government is out to frustrate small scale traders in the fight against counterfeits…full story


WHY LOW PENSION UPTAKE IN JUI KALI?
The Star | May 20, 2019 • May 20, 2019

When it comes to social security in retirement, more attention is on employees in the formal sector who contribute through employers who have emolled them in a registered pension scheme…full story


Eurobond to cut T-bill cash for banks, pensions
Business Daily | May 20, 2019 • May 20, 2019

The successful sale of a Sh210 billion Eurobond should ease the Government’s domestic borrowing pressure and thus keep interest rates at their cur­rent multi-year lows in the short term, analysts say…full story


Investors lose Sh142 billion as top index sinks to a fresh low
The Star | May 20, 2019 • May 20, 2019

The NSE 20 Index that tracks the performance of top 20 counters at the Nairobi bourse slid to a new year low to close the week at an average of 2663 .45 having shed a whopping 119.16 points…full story


Regulate mobile loans to protect consumers
Business Daily | May 20, 2019 • May 20, 2019

Over indebted Kenyans juggling and struggling to repay multiple digi­tal lenders is the grim reality…full story


Pension funds should bring private equity On board
Business Daily, May 15, 2019 • May 15, 2019

Here are three reasons why pension funds should keep pushing forward in this journey…full story


KCB invests Sh905m in Tanzania, Rwanda units
Business Daily, May 15, 2019 • May 15, 2019

KCB Group has invested an additional Sh905 million in its Tanzania and Rwanda units to shore up their capital and position them for more growth…full story


Invest more in sciences for Kenya's economic growth
The Standard, May 15, 2019 • May 15, 2019

The writer says that for Kenya to develop human capital through education, emphasis must be put on science and technology within the context of the implementa­tion of UN’s Sustainable Development Goals and Ken­ya’s Vision 2030…full storyThe writer says that for Kenya to develop human capital through education, emphasis must be put on science and technology […]


Cost of living on radar as price of fuel hits a five-month high
Daily Nation, May 15, 2019 • May 15, 2019

Motorists and households will feel a bitter pinch from today after fuel prices rose sharply to a five­ month high. Data from the Kenya Revenue Authority showed that VAT on petroleum products had collected a paltry Sh9.1 billion in the seven months to March 2019, a wide miss from the Sh31 billion expected just five […]


Spire Bank seeks Sh112m in sale of customer's property
Business Daily | May 14, 2019 • May 14, 2019

Capital-starved Spire Bank is selling seven properties esti­mated at Sh112.6 million across the country belonging to one of its customers who defaulted on a loan…full story


KCB to receive Sh900 million from Uchumi's land sale
The Star | May 14, 2019 • May 14, 2019

KCB Group is set to pocket the largest share of proceeds raised from the sale of Uchumi land. Debt restructuring proposal by Uchumi shows that the lender will receive Sh900 million out of the Sh2.8 billion to be raised after the land sale…full story


Equity subsidiary EIB inks research deal
The Standard | May 14, 2019 • May 14, 2019

Equity Group’s subsidiary Equity Investment Bank (EIB) has partnered with a global advisory firm to provide investors with quality research…full story


Staff protected in CBA and NIC deal
The Star | May 14, 2019 • May 14, 2019

None of the 1,872 employees of Com­mercial Bank of Africa and NIC Bank should be declared redundant for a period of12 months from the date of closing of the transaction…full story


CMA grants second online forex broker license to Cypriot firm
Business Daily | May 14, 2019 • May 14, 2019

The Capital Markets Authority (CMA) has granted a license to SCFM Ltd to operate as a non-dealer online foreign ex­ change broker, making it the second firm to attain this status…full story


Easy mobile cash to hurt Kenya's savings culture
Daily Nation | May 14, 2019 • May 14, 2019

Kenya’s gross national savings as a percentage of its output are tipped to lag behind the sub-Saharan Africa average in the medium term as easy access to cash through mobile plat­ forms continues to discourage savings…full story


40% of betting taxes to finance UHC – ministry
The Star | May 10, 2019 • May 10, 2019

At least 4 0 per cent of taxes on betting and gaming will fund the universal health coverage, the Ministry of Health says…full story


Treasury seeks Sh250b loan to pay another debt
The Standard | May 10, 2019 • May 10, 2019

Kenya will have six Eurobonds if Treasury man­ ages to borrow Sh250 billion from London and the US…full story


Over 66pc of diaspora cash targets mothers back home
The Standard | May 10, 2019 • May 10, 2019

About seven out of every 10 Kenyans living and working abroad will spoil their mothers back home this Sunday by sending them money to mark the world Mother’s Day…full story


Equity Bank quarter one profit up to Sh6.2bn on high interest
Daily Nation | May 10, 2019 • May 10, 2019

Equity Bank recorded a 5 per cent rise in net profit to Sh6.2 billion in the first quarter of the year on the back of even growth in interest and non-interest income…full story


Equity hit by Tanzanian subsidiary loan defaults
Business Daily | May 10, 2019 • May 10, 2019

Customers of Equity Group’s Tanzanian unit defaulted on nearly a third of loans in the first quarter, a balance sheet deteri­oration that seeped through to the parent company’s consoli­dated results…full story  


Lessons for State in Equity’s expansion
Business Daily | May 10, 2019 • May 10, 2019

We must all applaud the Equity Group for the way it’s executing its continental expansion strategy…full story


Lessons for State in Equity's expansion
Business Daily | May 10, 2019 • May 10, 2019

We must all applaud the Equity Group for the way it’s executing its continental expansion strategy…full story


GDP is not best measure of household economic health
Business Daily | May 10, 2019 • May 10, 2019

According to the Ken­ya National Bureau Statistics (KNBS), Kenya’s Real Gross Domestic Product (GDP) is estimated to have expanded by 6.3 percent in 2018 compared to 4.9 percent in 2017, the strongest economic growth in eight years…full story


Weak economy leaves Sh97.7 billion tax hole
Business Daily | May 10, 2019 • May 10, 2019

Government revenue in the first, nine months of the current financial year fell short of target by Sh97.7 billion, prompting the Treasury to cut budgeted funds for development projects by nearly Sh34.37 billion…full story


Tax amnesty set to end in June
The Star | May 9, 2019 • May 9, 2019

Kenyans in the diaspora continued to take advantage of the tax amnesty granted on foreign income as cash inflows hit $664. 9 million (Sh67.23 billion) during the first quarter of the year…full story


Steps to take if lenders misreport you to CRBs
The People Daily | May 9, 2019 • May 9, 2019

Credit Reference Bureau (CRB) regulations were not only designed to protect lenders but borrowers alike. Any aggrieved borrower is covered by the law and can take several steps to remedy the situation…full story


Outdated systems blamed for NSE glitches
The Standard | May 9, 2019 • May 9, 2019

Delays in improving Nairobi Securities Exchange (NSE) sys­tems has been blamed for outag­es that have halted trading three times over the last seven months…full story


Equity in investor information deal with global firm
Business Daily | May 9, 2019 • May 9, 2019

Equity Group subsidiary, Equi­ty Investment Bank (EIB), has inked a deal with global firm Tellimer to provide customers additional data…full story


Ballooning public debt has reached unbearable level
The Standard, May 9, 2019 • May 9, 2019

The 2019/20 budgetary estimates presented in the National Assembly last Tuesday by Leader of Majority Aden Duale leaves a lot be desired. According to the Treasury, while the country is able to raise Sh2.1 tril­lion, the deficit of Sh607.8 billion will be funded through debt. Needless to mention, statistics from Central Bank of Kenya shows […]


CMA defends firms delaying results
Daily Nation, May 9, 2019 • May 9, 2019

The Capital Markets Authority (CMA) has defended its decision to allow distressed companies more time to disclose financial performance than is legally allowed. At least six listed…full story


Go slow on loans, the economy is struggling
Daily Nation | May 6, 2019 • May 6, 2019

Kenya’s annual debt obligation will rise to Sh1 trillion in 2019- 20 for the first time in history, exerting more pressure on the country’s fiscal plan…full story


HOW TO GET BANKS TO SAY YES TO YOUR BUSINESS LOAN
Business Daily | May 6, 2019 • May 6, 2019

Business plans are critical­ly important for startups, high-growth companies or buyers seeking to finance the purchase of a business…full story


NIC Group pay dividends
Business Daily | May 6, 2019 • May 6, 2019

NIC shareholders are set to enjoy a higher dividend of Sh1.25 a share, up from Sh1 in 2017, today…full story


Motivated workers will drive Big Four agenda
Daily Nation | May 6, 2019 • May 6, 2019

The success of the government’s Big Four Agenda strictly hinges on workers’ motivation. Low pay demotivates workers…full story


State beats parastatals dividend target in Safaricom’s sh26bn pay
Business Daily | May 6, 2019 • May 6, 2019

Safaricom’s proposed special dividends has broken the treasury projected revenue from public investments Non-listed entities expected to contribute dividends include the Central Bank of Kenya (Sh800 million), the Kenya Pipeline Company (Sh300 million), the Kenya Airports Authority (Sh130 million) and the Kenya Ports Authority (Sh100 million)…full story


State beats parastatals dividend target in Safaricom's sh26bn pay
Business Daily | May 6, 2019 • May 6, 2019

Safaricom’s proposed special dividends has broken the treasury projected revenue from public investments Non-listed entities expected to contribute dividends include the Central Bank of Kenya (Sh800 million), the Kenya Pipeline Company (Sh300 million), the Kenya Airports Authority (Sh130 million) and the Kenya Ports Authority (Sh100 million)…full story


Shareholder activism firms up governance
Business Daily | May 6, 2019 • May 6, 2019

Recently, there have been a lot of corporate scandals in the p1ivate sector highlighting the need for good governance…full story


Youth unemployment unhealthy for the nation,just too dangerous
Daily Nation, May 3, 2019 • May 3, 2019

Labour day brought desperate situation Kenyans are in, in previous years as Kenya joins the world in celebration…full story


MEs must leverage online branding to compete with giants
The Star, May 3, 2019 • May 3, 2019

Small and Micro Enterprises need to employ cost-effective ways to build their brands and connect with potential employees, Coca-Cola Africa human resource director John Mwendwa has said. People appreciate immediate feedback even if it is negative, Safarlcom talent and acquisition senior manager Chris Otundo added…full story


Pressure on taxpayers as SGR loan fails due
Business Daily, May 3, 2019 • May 3, 2019

Kenya is gearing up for bigger loan repayments to China as a five-year grace period that Beijing extended to Nairobi for the standard gauge railway funds ends…full story


Hope as Kenya heads to US for bilateral talks
Daily Nation, May 3, 2019Daily Nation, May 3, 2019 • May 3, 2019

After failing to secure Chinese funding for the third phase of the Standard Gauge Railway (SGR),Nairobi returns to Washington next week in America’s renewed efforts to grow its financial and investment portfolio amid intense rivalry from China…full story


WB grants Sh25b loan to boost Big Four agenda
The People Daily, May 3, 2019 • May 3, 2019

World Bank has approved a $250 million (Sh25.3 billion) loan to Kenya to help those unable to access long-term housing finance. The lender said the Kenya Af­fordable Housing Finance Proj­ect (KAHFP) will support the es­tablishment and launching of the Kenya Mortgage Refinance Corporation ( KMRC) – which is largely private sector-owned and non-deposit taking financial […]


Foreign investors at NSE in 3-month buying spree
Business Daily, May 3, 2019 • May 3, 2019

Foreign investor at the Nairobi security exchange in April recorded a net buying position, extending the trend into the third straight month. Equity, East Africa Breweries Ltd, KCB Group and British American Tobacco were much interest to foreign investors, closing the month in a net of buying of $ 5.81 million. Safaricom and Barclays are […]


Foreign investors are now the net buyers
Daily Nation, May 3, 2019 • May 3, 2019

Foreign investors at the Nairobi Securities Exchange (NSE) in April recorded a net buying position, extending the trend to the third straight month…full story


Growing public debt appetite a burden to Kenyans
The People Daily, May 2, 2019 • May 2, 2019

Last week, President Uhuru Kenyatta was accompanied by former premier Raila Odinga for the Belt and Road Ini­tiative forum…full story


WB approves Sh25bn to boost cheap mortgage
Business Daily, May 2, 2019 • May 2, 2019

The World Bank has approved Sh25 billion ($250 million) to help Kenya set up a mortgage refinancing company that will make it easier for banks to access long-term finance for cheaper home loans…full story


State should narrow budget deficit, reduce borrowing
The Star, May 2, 2019 • May 2, 2019

Kenya’s annual debt will in 2019-20 cross Sh1 trillion for the first time in history, according to estimates presented to Parliament…full story


How financial deepening can help in building human capital
Business Daily, May 2, 2019 • May 2, 2019

The writer sheds light on how financial deepening can help in building human capital…full story


Rotich’s Sh2.7 trillion budget offers little hope to taxpayers
The Standard, May 2, 2019 • May 2, 2019

On Tuesday, the National Treasury presented the 2019/20 budget estimates. Though according to Treasury, the proposed expenditure ‘Will prioritise job creation, youth empowerment, manufacturing, enhance health cov­erage, improve food security and uplift the living conditions of the people, keen observers quickly dis­missed the Sh2.7 trillion budget as of unhealthy mix: Treasury must borrow about Sh6 […]


Rotich's Sh2.7 trillion budget offers little hope to taxpayers
The Standard, May 2, 2019 • May 2, 2019

On Tuesday, the National Treasury presented the 2019/20 budget estimates. Though according to Treasury, the proposed expenditure ‘Will prioritise job creation, youth empowerment, manufacturing, enhance health cov­erage, improve food security and uplift the living conditions of the people, keen observers quickly dis­missed the Sh2.7 trillion budget as of unhealthy mix: Treasury must borrow about Sh6 […]


Proper policies must be put in place to empower the youth
The Standard, May 2, 2019 • May 2, 2019

Although the economy grew by 6.3 per cent last year, its fastest growth in over five years, the low number of jobs it created in the formal sector raises major policy concerns. The 2019 Economic Survey revealed that 840,600 new jobs were created last year, the bulk of which were in the informal sector. Only […]


Governor assures amid budget cuts
The Standard, May 2, 2019 • May 2, 2019

Governor Sospeter Ojaamong has said the Nation­al Treasury’s proposal to slash Sh500 million from the county’s annual allocation for the 2019/20 finan­cial year will not affect development…full story


Digital loans
The Standard, May 2, 2019 • May 2, 2019

Data on the number and performance of app-based loan accounts are not reported publicly since financial service providers that offer credit, but do not take deposits are unlicensed and are not regulated by CBK…full story


Kenya eyes new bonds amid rising appetite for debt to fund big budget
Daily Nation, May 2, 2019 • May 2, 2019

Kenya will explore five new bonds among them the Chinese and Japanese as it moves to find alternatives for its insatiable appetite for debt to fund its ballooning budget. The total public debt stood at Sh5.1 trillion by September last year, according to data from the Central Bank of Kenya (CBK)…full story


Strengthen risk management in evolving digital environments
The Standard, April 30, 2019 • April 30, 2019

A number of Insightful articles have featured in the local print media on the need for the bank­ing sector to amplify their risk management programmes…full story


Huduma Namba a brilliant idea but government doing a poor job
Daily Nation, April 30, 2019 • April 30, 2019

National Integrated Identity Management System (NIIMS) but government is doing poor job…full story


Tax education to save youths shock of pay check deductions
The Star, April 30, 2019 • April 30, 2019

Taxation is arguably one of the most complex concepts, making it a preserve of professionals in the accounting, finance, economic and tax administration disciplines…full story


Pensioners living abroad to be counted
The Star, April 30, 2019 • April 30, 2019

Pension register for Kenyans who live abroad will be reviewed in the coming financial year, pension secretary Shem Nyakutu said…full story


Bank transactions revenue reduces despite tax rise
Business Daily, April 30, 2019 • April 30, 2019

Revenue collected from financial transactions dipped 263 percent to Shl0.1 billion from Sh13.7 billion in 2017, despite a rise in taxes in the last quarter of the year…full story


How government can guarantee debt payment
The Standard, April 30, 2019 • April 30, 2019

President Uhuru Kenyatta trip to China last week to negotiate a Sh368 billion loan is an indication that Standard Gauge Railways line…full story


Mobile banking service deal
Daily Nation, April 30, 2019 • April 30, 2019

Safaricom Limited Chief Executive Bob Collymore (left) with his Equity Group counterpart James Mwangi during the signing of a memorandum of understanding of a new mobile banking product yesterday. The new service aims to allow customers access to finances everywhere…full story


Mergers will lead to better lending rates
Daily Nation, April 30, 2019 • April 30, 2019

Populist will appears to have succeeded where Central Bank governors failed…full story


CMC and NIC Bank ink vehicles deal
Business Daily | April 29, 2019 • April 29, 2019

CMC Motors has partnered with NIC Bank to provide up to 95 percent financing for buyers seek­ing to purchase its Ford Ranger vehicles in a bid to grow uptake of its vehicles in the country…full story


Banks provision for bad loans set to shoot by 53pc
Business Daily, April 29, 2019 • April 29, 2019

Provisioning for non-perform­ing loans (NPLs) in the bank­ing sector could rise by 52.9 percent in 2019, slowing down profitability…full story


How to make your business investable
Business Daily, April 29, 2019 • April 29, 2019

Time kills all deals. For startups, speed to market has never been more critical. There are certain is­ sues that may help achieve the speed to market and scalability required in today’s rapidly accelerating landscape. What corporate assets can you leverage? Unilever’s ac­quisition of Dollar Shave Club is a great example…full story


AfDB, French bank ink Sh5bn small firms deal
Business Daily, April 29, 2019 • April 29, 2019

Small and medium enterpris­es (SMEs) eyeing cross-border trade will soon access credit from local banks after a French conglomerate signed a Sh5 bil­lion guarantee deal with the Af­rican Development Bank(AfDB)…full story


Sound digital loan laws good for everyone
Business Daily, April 29, 2019 • April 29, 2019

There are a significant number of people in Kenya living without a documented financial history


Rate cap pushes banks liquidity to Sh4.6 trillion
Business Daily, April 29, 2019 • April 29, 2019

Commercial banks liquidity rose by 10.9 percent to Sh4.6 trillion last year, sending liquid­ity ratio to three-year high of 50.6 percent as lenders slowed. At 50.5% the liquidity ratio of local banks is 2.5 times higher than the minimum 20 percent prescribed by Central Bank of Kenya…full story


Kenya’s public debt has hit worrying level
The Standard, April 29, 2019 • April 29, 2019

That the Jubilee administration was seeking another Sh368 billion from China to extend the Standard Gauge Railway (SGR) from Naivasha to Kisumu had elicited mixed reactions among Kenyans…full story


Kenya's public debt has hit worrying level
The Standard, April 29, 2019 • April 29, 2019

That the Jubilee administration was seeking another Sh368 billion from China to extend the Standard Gauge Railway (SGR) from Naivasha to Kisumu had elicited mixed reactions among Kenyans…full story


Surge in mobile lenders ruins microbanks lunch
The Standard | April 26, 2019 • April 26, 2019

Microfinance banks burnt their fingers when they tried to target the small and medium enterprise (SMEs) market aban­doned by banks after the introduction of the interest rate capping. This is according to data from the CBK…full story


Kenya may lose key State firms over Sh147b loan
The Standard | April 26, 2019 • April 26, 2019

Assets of at least eight State corporations risk seizure by lenders over Sh147.7 billion loan, Parliament warned yesterday…full story


CMC, lender in auto financing deal
The Standard | April 26, 2019 • April 26, 2019

CMC Motors Group has entered into a long-term financing deal with NIC Bank to enable Kenyans to acquire the latest Ford vehicle models…full story


Farms spur rebound in economy growth
The Star, April 25, 2019 • April 26, 2019

Kenya’s economy ex­panded by 6 . 3 per cent last year, the statistics office said on Thursday, helped by adequate rainfall which spurred agriculture, a mainstay of the economy…full story


GDP growth not just numbers, it should make sense to Kenyans
The Standard, April 25, 2019 • April 26, 2019

GDP growth of 6.3 per cent in 2018 -the highest since 2010 -has baffled many, includ­ing the Government itself. The Treasury head projected the economy would grow by 6.1 per cent But there is no joy at all. If anything, financial reports by the Central Bank of Kenya, KNBS and Financial Sector Deepening (FSD) have […]


Bank manager summoned over directive on statements
The Standard, April 25, 2019 • April 26, 2019

A court has summoned a bank manager to explain why he has not supplied investigative agen­cies with details of Shinyalu National Government Constituencies Development Fund…full story


Economy recovers from 2017 poll jolt
The People Daily, April 25, 2019 • April 26, 2019

Kenya’s Gross Domestic Product (GDP grew by6.3 percent in 2018, up from 4. 7 per cent in the politi­cally tumultuous 2017…full story


Economy grows by 6.3pc, KNBS says, but critics doubt it
Daily Nation, April 25, 2019 • April 26, 2019

Kenya’s economy expanded by 6.3 per cent last year, reporting its fastest growth in over five years, even as analysts and other economic actors say the coW1try is reporting a paper growth…full story


What continental free trade plan means for SMEs
Business Daily, April 25, 2019 • April 26, 2019

It is encouraging to hear growing African businesses expressing excitement when they venture into new markets in the region. This has been happening in earnest, but the sweet spot for the thousands of entrepreneurs looking to expand beyond their geographical boundaries lies in the implementation 9fthe Continental Free Trade Area Agreement, (AfCFTA) that was fronted…full […]


Kenya should go slow on Chinese
Business Daily, April 25, 2019 • April 26, 2019

The Standard Gauge Railway that runs from Mombasa through Nairobi reached an obscure place called Daraja Moja in Naivasha area…full story


Public debt costs take up more than half of taxes
Business Daily, April 25, 2019 • April 25, 2019

Cash spent on servicing Kenya’s ballooning public debt .surged 7 5 per cent in nine months to March, underlining the burden debt repayments is having on taxpayers…full story


Don’t be lied to borrowing to repay loans is bad economics
The Standard, April 25, 2019 • April 25, 2019

President Uhuru Kenyatta is in china (with Former Prime Minister Raila Odinga) to borrow Sh368 billion to complete the second phase of the Standard Gauge Railway from Naivasha to Kisumu…full story


Don't be lied to borrowing to repay loans is bad economics
The Standard, April 25, 2019 • April 25, 2019

President Uhuru Kenyatta is in china (with Former Prime Minister Raila Odinga) to borrow Sh368 billion to complete the second phase of the Standard Gauge Railway from Naivasha to Kisumu…full story


Why struggling banks shares may not earn you that much
Daily Nation, April 25, 2019 • April 25, 2019

Shareholders of Kenya’s struggling banks are un­likely to get a premium on selling their stakes, indicating deep-pocketed investors may buy them out for a discount, analysts at investment management firm Cytonn have said. Central Bank of Kenya Governor Patrick Njoroge said in an interview that he expects the mergers and acquisition deals to continue…full story


Produce exchange seeks investors
Daily Nation, April 25, 2019 • April 25, 2019

Kenya is scouting for local and foreign investors to raise Sh2 billion for an agricultural produce exchange…full story


Kenya at risk of debt default in 10 years, experts now warn
Daily Nation, April 25, 2019 • April 25, 2019

Kenya risks defaulting on its debt obligations in a decade if the cur­ rent appetite for borrowing remains unchecked, a think tank has warned…full story


Banks should amplify risk-cutting measures to counter ATM heists
Daily Nation, April 25, 2019 • April 25, 2019

The Central Bank’s guidelines on cybercrirne recognise that adoption of technology makes banks and customers susceptible to risks, This after thieves made away with sh 14m from Barclays bank…full story


Kenya’s borrowing costly experts warns
The Standard, April 25, 2019 • April 25, 2019

Experts have warned that Kenya is getting a raw deal in it is desperation to borrow funds for projects…full story


State set to unveil new economic survey data
The People Daily, April 25, 2019 • April 25, 2019

The Economic Survey 2019 will today be released by Kenya National Bureau of Statistics (KNBS), providing yet another set of crucial data on the economy for the year 2018…full story  


Boost to housing bid as stalled project picks up
Daily Nation, April 24, 2019 • April 24, 2019

The government’s bid to provide affordable housing for Kenyans has received a boost after housing projects that had stalled for six years in Taita-Taveta…full story


China pillaging Africa’s resources pure myth
The Standard, April 24, 2019 • April 24, 2019

People in Chad, an oil-rich African country, used to rely on importing gasolines to power their cars…full story


China pillaging Africa's resources pure myth
The Standard, April 24, 2019 • April 24, 2019

People in Chad, an oil-rich African country, used to rely on importing gasolines to power their cars…full story


Interbank rate rises on tax, T-bill payouts
Business Daily, April 24, 2019 • April 24, 2019

The bank-to-bank lending rate nearly tripled on­ tighter liquidity due to tax remittance deadline and payments for government securities…full story


High rate of unemployment producing smarter and angry thieves
Daily Nation, April 24, 2019 • April 24, 2019

By now, you must have heard about the Sh11 million that was stolen from Barclays Bank ATM machines in Nairobi over Easter. This comes barely two years after robbers dug a 30-metre-long tunnel into KCB’s strong room in Thika Town and made away with more than Sh50 million…full story


Empower SMEs to drive economic growth
The People Daily, April 24, 2019 • April 24, 2019

The key boon of manufacturing is that it absorbs a big population of workers and places them into pro­ductive and decent paying jobs. A recent National Economic Sur­vey report by the Central Bank of Kenya (CBK) indicates that SMEs constitute 98 per cent of all business in Kenya and create 30 per cent of all […]


Ways to make passive Income
The Standard, April 24, 2019 • April 24, 2019

For many it would be a dream come true if they never have to work another day in their life. This is what passive income generating projects do -they allow you financial stability without spending your energy actively looking for money. Here are ways you could make this dream come true…full story


Why Belt and Road Initiative is anything but debt trap
Daily Nation, April 24, 2019 • April 24, 2019

Almost six years after Chinese President Xi Jinping proposed the Belt and Road Initiative (BRI), the grand vision for promoting common development through better connectivity among countries and regions has been morphing into a solution for speeding up global cooperation for greater prosperity…full story


Due diligence: The final frontier investment
The Standard, April 24, 2019 • April 24, 2019

Why are some of the people who pitch businesses on KCB Lions’ Den promised investments from the lions, but the deals don’t materialise after the show, with some not getting any­ thing at all?…full story


State eyeing investors in exchange
The Star, April 24, 2019 • April 24, 2019

Investors seeking to trade in commodities at the Nairobi Se­curities Exchange will have to part with Sh5 million, according to Trade ministry principal secretary Chris Kiptoo…full story


Youths torn between betting and spending on alcohol, says KBL
Daily Nation, April 23, 2019 • April 23, 2019

KBL Man­aging Director Jane Karuku sentiments amplify the betting craze that has gripped the country’s youth with Interior ministry Cabinet Secretary Fred Matiang’i recently claiming that at least 500,000 youth have been blacklisted by lending firms after they borrowed for gambling and lost…full story


Youth encouraged to join saccos to save more
Daily Nation, April 23, 2019 • April 23, 2019

Kangundo East Ward Rep Grace Munini has urged local youths to join saccos in order to increase their savings and strengthen their eligibility to borrow from financial institutions…full story


Kenya’s growth estimates a mere hype
Business Daily, April 23, 2019 • April 23, 2019

The writer says that Kenya’s growth estimates are a mere hype. Kenya Revenue Authority is already missing revenue collection targets thus the public debt can still not be sustainable. Tea that earned Kenya Sh141 billion in forex has seen half of tea workers sent on leave due to prolonged drought…full story


Kenya's growth estimates a mere hype
Business Daily, April 23, 2019 • April 23, 2019

The writer says that Kenya’s growth estimates are a mere hype. Kenya Revenue Authority is already missing revenue collection targets thus the public debt can still not be sustainable. Tea that earned Kenya Sh141 billion in forex has seen half of tea workers sent on leave due to prolonged drought…full story


Understanding Kenya derivatives market ecosystem
Business Daily, April 17, 2019 • April 17, 2019

Over the last ten years, the capital markets industry in Kenya has experienced rapid changes in the range and sophistication of market products and services as well as in technology…full story


Africa’s dream of regional single market takes shape
The Standard, April 17, 2019 • April 17, 2019

The ambitious goal to have a single common market for Africa under the Africa Continental Free Trade Area (AfCFTA) has inched closer to fruition…full story


Africa's dream of regional single market takes shape
The Standard, April 17, 2019 • April 17, 2019

The ambitious goal to have a single common market for Africa under the Africa Continental Free Trade Area (AfCFTA) has inched closer to fruition…full story


New app to ease bonds buying
Daily Nation, April 17, 2019 • April 17, 2019

NIC Ventures has launched a mobile-based application where Kenyans can access bid bonds…full story


Celebrating Growth in the Pension Industry
Daily Nation, April 17, 2019 • April 17, 2019

Central Bank of Kenya Pension Fund is an occupational pension scheme established under trust and regulated by the Retirement Benefits Authority…full story


Address nation’s challenges and put brakes on succession politics
Daily Nation, April 17, 2019 • April 17, 2019

I’m one of a growing number of Kenyans who feel its people and our country are being hijacked by the incessant political sparring and backstabbing taking place. We are becoming hostages of these shenanigans…full story


Address nation's challenges and put brakes on succession politics
Daily Nation, April 17, 2019 • April 17, 2019

I’m one of a growing number of Kenyans who feel its people and our country are being hijacked by the incessant political sparring and backstabbing taking place. We are becoming hostages of these shenanigans…full story


Uhuru’s 1.5% house taxis unlawful – FKE
The Star, April 17, 2019 • April 17, 2019

Your April salary will be 1.5 per cent less as the State begins the implementation of the housing levy from May 9. The Central Bank of Kenya published draft regulations in Feb­ruary this year for mortgage refinancing companies to advance cash to banks…full story  here


Uhuru's 1.5% house taxis unlawful – FKE
The Star, April 17, 2019 • April 17, 2019

Your April salary will be 1.5 per cent less as the State begins the implementation of the housing levy from May 9. The Central Bank of Kenya published draft regulations in Feb­ruary this year for mortgage refinancing companies to advance cash to banks…full story  here


Bleak economic outlook as below normal rainfall now expected
Business Daily, April 17, 2019 • April 17, 2019

Delayed downpour will have a knock on effect on cost of food, power…full story


How to introduce investors to your team the right way
Business Daily, April 16, 2019 • April 16, 2019

The writer teaches ways of pulling in investors and maintaining them…full story


State should help SMEs by paying them on time
The Star, April 16, 2019 • April 16, 2019

Government is strangling SMEs by not clearing outstanding debts of Sh250 billion, according to Kenya National Chamber of Commerce chair Kiprono Kittony…full story


Kenyans Poorer despite growth
The Standard, April 16, 2019 • April 16, 2019

The latest World Bank report on sub-Saharan Africa growth for the current year makes sober reading for the region’s leaders…full story


Saccos remain profitable despite digital disruption
The Standard, April 16, 2019 • April 16, 2019

Saccos might have lost favor among Kenyans as their mobile phones elbowed them out, according to the 2019 Household Survey. However, Saccos have remained profitable. Inadvertently, Saccos also came into competition with banks for deposits after the Banking (Amendment) Act, 2016 set the interest rates payable on deposits held by commercial banks to not less […]


Bond yields below zero percent in Germany
Business Daily | April 15, 2019 • April 15, 2019

Worries about Europe growth prompted the European Central Bank [ECB] maintain its dovish stance at its April meeting on Wednesday…full story


QNB Group, the largest financial institution in the MEA
Business Daily | April 15, 2019 • April 15, 2019

QNB Group, the largest financial institution in the MEA region, conitnues to deliver strong results for the first quarter in 2019…full story


NIC subsidiary unveils online trade platform
Business Daily | April 15, 2019 • April 15, 2019

NIC Venture, a subsidiary of NIC Group, is set to unveil a self-service online platform dubbed Deedee which allows users to make requests and get trade security documents real time…full story


Insurers report first loss from underwriting in 11 years
Daily Nation | April 15, 2019 • April 15, 2019

Insurance companies chalked up an underwriting loss of Sh1.65 billion last year, making it the biggest in more than a decade as the industry struggled under post-General Election economic jitters…full story


Strategies that loan apps use to attract customers
Business Daily | April 15, 2019 • April 15, 2019

Kenya’s digital borrowing market has experienced growth with the financial inclusion agency Financial Sector Deepening (FSD), reporting that in 2017, 34.8 percent of adults in the country had used digital credit…full story


GROWING YOUR BUSINESS THROUGH SAVINGS
Business Daily | April 15, 2019 • April 15, 2019

People and companies tend to save and invest if they can trust the institutions that manage their money and the economy at large. In the past, it was not always safe to keep deposits in banks in many African countries…full story


Munga set to retire from bank
Daily Nation | April 11, 2019 • April 11, 2019

Equity Bank founder Peter Kahara Munga will not be offering himself for re-election as a director at the bank, marking his last step to retirement…full story


Eurobond yields fall on Feb rate cut halt
Daily Nation | April 11, 2019 • April 11, 2019

Yields on all Kenyan Eurobonds have fallen with most of the change taking place in the past few weeks, data from the Central Bank of Kenya shows…full story


Equity Diaspora cash hits Sh107bn
Business Daily | April 11, 2019 • April 11, 2019

The cash has occupied the top spot since 2015 having leapfrogged tourism receipts (Sh157.36 billion in 2018), horticultural exports earnings (Sh153.68 bimon) and tea (Sh140.86 billion), Central Bank of Kenya data shows…full story


Equity Bank sets aside 205m shares for staff
Business Daily | April 11, 2019 • April 11, 2019

Equity bank has asked its shareholder to approve an employee share ownership plan in the next annual general meeting…full story


Shilling faces challenging times ahead
The People Daily | April 11, 2019 • April 11, 2019

Experts say though currency has proven resilient it could come under intense pressure as drought and hunger ravage parts of the country…full story


Why Kenya’s Sacco industry is recognised worldwide
Daily Nation | April 11, 2019 • April 11, 2019

Kenya’s Sacco sub-sector continues to grow, providing special financial services across the country…full story


Why Kenya's Sacco industry is recognised worldwide
Daily Nation | April 11, 2019 • April 11, 2019

Kenya’s Sacco sub-sector continues to grow, providing special financial services across the country…full story


Strategies to reverse fall in growth needed
Daily Nation | April 11, 2019 • April 11, 2019

The World Bank latest projection of Kenya’s economic growth is sobering. Indicators that initially created optimism about probable latest projection high economic of Kenya’s growth economic this year have dissipated and a completely new reality is dawning. And the clear message is that Kenya must diversify its economic base and work on realistic targets…full story


Rigid financial rules can stifle innovation
Business Daily, April 8, 2019 • April 8, 2019

The micro-finance banks in Kenya are not doing well. A report by the Central Bank of Kenya reveals their gradual decline in profits from Sh549 million in 2015 to a loss of Sh731 million in 2017…full story


Unravelling interest rate cap ruling
Business Daily, April 8, 2019 • April 8, 2019

Interest rate caps as an issue. When the complaints were raised on property rights and monetary policy function of the Central Bank of Kenya, the court dismissed the complaints…full story


Saccos urgently need deposit insurance fund
Business Daily, April 8, 2019 • April 8, 2019

Saccos in Kenya have over the last few years become frontier for exponential growth…full story


More Kenyans still hide cash in pillows despite key reforms
The Standard, April 8, 2019 • April 8, 2019

Pillow banking is still high despite he growth of mobile money,anew survey has shown. However, the decline found a decline in the significant, ‘of importance to note is the the significance decline in the use of secret hiding line from 55.7% in 2007 to 23.9 in 2019, perhaps reflecting the increased use of mobile money’ […]


Devalue the shilling to cure our economy
Daily Nation, April 8, 2019 • April 8, 2019

Retirement Benefits Authority (RBA) chief executive Nzomo Mutuku said Kenyans in 14 `big’ pension schemes had provided Sh254 billion for investment in public infrastructure bonds…full story


Shhh! Good things might come from our loans by Chinese
Daily Nation, April 4, 2019 • April 4, 2019

A few days ago, Nation media Group titles had a story about a Washington-based think tank, the Africa Centre for Strategic Studies, warning Africa, yet again, about the perils of China…full story


Strengthen NSE’s self-regulatory role to boost confidence
Business Daily, April 4, 2019 • April 4, 2019

Capital flight in Kenya and Africa at large remains a fundamental policy and academic issue that worries scholars and practitioners alike. The topic raises serious governance and economic bottom line and therefore calls for honest evaluation of the state of capital flows in our local exchange – the Nairobi Stock Exchange (NSE)…full story


Strengthen NSE's self-regulatory role to boost confidence
Business Daily, April 4, 2019 • April 4, 2019

Capital flight in Kenya and Africa at large remains a fundamental policy and academic issue that worries scholars and practitioners alike. The topic raises serious governance and economic bottom line and therefore calls for honest evaluation of the state of capital flows in our local exchange – the Nairobi Stock Exchange (NSE)…full story


Private sector growth slowest in 16 months
The People Daily, April 4, 2019 • April 4, 2019

The pace of activity in Kenya’s private sector edged lower in March to its softest in 16 months, a Stanbic Bank survey showed yesterday…full story


Money on the go boosts inclusion
Daily Nation, April 4, 2019 • April 4, 2019

The rising popularity of mobile money services has increased the proportions of Kenyans accessing financial services to 82.9 per cent, showing the significance of services such as M-Pesa and Airtel Money in the economy. Central Bank of Kenya (CBK) Governor Patrick Njoroge hailed the progress as a major milestone, saying it was driven by growth […]


Mobile money lifts financial access to 83pc of Kenyans
Business Daily, April 4, 2019 • April 4, 2019

Despite the progress, the study by CBK, Financial Sector Deepening (FSD) Kenya and Kenya National Bureau of Statistics notes that affordability and consumer protection issues remain barriers to access. The mobile money services has shown significance to M-Pesa and Airtel Money…full story


Kenyans’ debt stress rises as they toil to repay loans NA
The People Daily, April 4, 2019 • April 4, 2019

A study by the Central Bank of Kenya, FSD Kenya and KNBS has revealed that most Kenyans are struggling to service throwing them into a bottomless debt pit…full story


Kenyans' debt stress rises as they toil to repay loans NA
The People Daily, April 4, 2019 • April 4, 2019

A study by the Central Bank of Kenya, FSD Kenya and KNBS has revealed that most Kenyans are struggling to service throwing them into a bottomless debt pit…full story


Central Bank boss warns against additional borrowing
The Standard | April 3, 2019 • April 4, 2019

CBK governor Patrick Njoroge has urged the govt to find away of financing its ever widening budget deficit…full story


State plans SME loans guarantee
Daily Nation | April 3, 2019 • April 4, 2019

CBK data shows that domestic borrowing by government grew by Sh293.billion…full story


Slump in banks, Kenol trading cuts equities turnover
Business Daily | April 3, 2019 • April 4, 2019

Traded turnover at the Nairobi Securities Exchange fell by a quarter in the first quarter of the year compared to a similar period in 2018 as investors reduced their activity on large bank stocks…full story


Govt lending earns banks KES 122B
The Standard | April 3, 2019 • April 4, 2019

Banks pocketed at least Sh l22B from the State coffers last year as they rushed to profit from a cash-hungry Government…full story


CMA picks 16 to review markets law
The People Daily | April 3, 2019 • April 4, 2019

The board of the Capital Markets Authority (CMA) has constituted a panel of 16 leading domestic and international financial market lawyers and practitioners to review the financial markets law…full story


Top fund managers seek deals with Kenyan firms
The People Daily, April 3, 2019 • April 4, 2019

Kenyan firms are set to seal major financing deals at the ongoing 16th annual African Private Equity and Venture Capital Association (AVCA) conference which closes today…full story


CBK: Lenders flouting safe deposit box rules
Daily Nation, April 2, 2019 • April 2, 2019

The Central Bank of Kenya (CBK) is currently looking for ways to tackle abuse of safe deposit boxes following the recent discovery of their misuse at Barclays Bank of Kenya…full story


Investors eye multibillion deals in Kenya
Daily Nation, April 2, 2019 • April 2, 2019

Cash-starved infrastructure projects in President Uhuru Kenyatta’s four priority sectors are set to get a boost from domestic and foreign private equity finns, which are lining up hundreds of millions of dollars for investment…full story


Public debt now goes up Sh2.1bn daily to hit the Sh5.4tm mark
Daily Nation, April 2, 2019 • April 2, 2019

The Treasury borrowed an average of Sh2.1 billion every day, racking up Sh126-4 bil­lion in loans between January and February, raising Kenya’s total debt load to Sh5.4 trillion. Latest debt data published by the Central Bank of Kenya ( CBK) shows that domestic debt rose by Sh142.6 billion to Sh2.692 trillion in the period, while […]


Partnerships boost to the micro-retail sector
The Standard, April 2, 2019 • April 2, 2019

Deepening financial access for Kenyans, mainly driven by the explosion of mobile-money usage, is an indicator that efforts to reach Kenya’s unbanked, have received significant and merited attention. Consumer goods company Unilever, KCB Bank Kenya and Mastercard have partnered in a project that does not only fill this hole by encouraging responsible borrowing, but is […]


Financial literacy will boost Islamic finance industry
The Standard, April 2, 2019 • April 2, 2019

The Islamic financial (IF) institutions in Kenya continue to grow in numbers and outreach. The banking sector is relatively well developed considering the three fully­ fledged banks offering Shariah­ compliant banking services and a number of other conventional banks offering Shariah banking windows…full story


Kenya hosts US pension fund forum
The Standard, April 2, 2019 • April 2, 2019

he Kenya Pension Fund Investment Consor­tium (KEPFIC) is hosting 30 representatives of major US pension and asset management funds seeking investment opportunities in the country. Decisive moment for cheap loans as interest rate cap rule put on trial…full story


Analysts tipped on investment boosting research
Business Daily, April 2, 2019 • April 2, 2019

Financial professionals have been tipped to conduct credible market research to promote a high savings and investment culture to boost investor confidence…full story


Top US pension firms scout for investment opportunities
The People Daily, April 2, 2019 • April 2, 2019

More than 30 representatives of major US pension and asset management funds are in the country on an initial mission to evaluate the investment potential and opportunities in infrastructure projects…full story


Pay up your loans, Helb tells defaulters
The Star, April 1, 2019 • April 1, 2019

Close to half a million students who ought to be paying their Helb loans have not started denying the financier Sh52 billion…full story


HF drags Britam to Sh2.2bn loss
Business Daily, April 1, 2019 • April 1, 2019

Britam Holdings Limited slid into the red after posting a Sh2.2 billion after tax loss for the year ended December 2018…full story


Asset financing schemes win-win for firms involved
Business Daily, April 1, 2019 • April 1, 2019

Last year was a tough period for insurance and investment companies which saw their operations suffer huge losses estimated at billions of shillings. aside to pay future claims sunk it into a Shl.97 billion loss for the period. Sanlam lost Sh1.1 billion in long-term investments in bonds that went sour including debt notes and equity […]


Metropolitan Sacco: Annual General Meeting
The Standard, April 1, 2019 • April 1, 2019

Metropolitan Sacco Society Limited during tthe 42nd Annual General meeting…full story


Pensioner’s 13-year hunt for his money
Daily Nation, April 1, 2019 • April 1, 2019

In 2006, Mr Samuel Gitundu walked into a scene he will never forget. It was early in the morning when he walked to Charterhouse Bank, Mombasa branch. lp to get audience with the then Central Bank of Kenya governor. In 2011, he also wrote to then Chief Justice Willy Mutunga on what he described as […]


Pensioner's 13-year hunt for his money
Daily Nation, April 1, 2019 • April 1, 2019

In 2006, Mr Samuel Gitundu walked into a scene he will never forget. It was early in the morning when he walked to Charterhouse Bank, Mombasa branch. lp to get audience with the then Central Bank of Kenya governor. In 2011, he also wrote to then Chief Justice Willy Mutunga on what he described as […]


Sh216m loss for Judiciary from Chase Bank bonds
Business Daily, March 29, 2019 • March 29, 2019

The Judiciary could lose more than Sh216.S million to contractors who secured performance bonds from the troubled Chase Bank and its subsidiary, Rafiki Micro Finance Bank…full story


CBK wants to join case seeking end of interest cap
The Standard, March 29, 2019 • March 29, 2019

The Central Bank of Kenya (CBK) will play a key role in building a strong case against an appeal to revise a High Court ruling on the rate cap…full story


Counties must focus on attracting investments
Business Daily, March 29, 2019 • March 29, 2019

The idea behind the decentralization of government into devolved units was a noble one…full story


Bank CEOs risk jail for denying SMEs loans
Business Daily, March 29, 2019 • March 29, 2019

Bank executives face jail and fines if they fail to allocate 20 percent of the lending to small and medium-sized enterprises. Central Bank of Kenya (CBK) says the move is aimed at in­creasing the flow of credit to the small businesses whom banks have denied loans under the current regime. The tier one bank include […]


Developers wary of interest rate dilemma
The People Daily, March 29, 2019 • March 29, 2019

Cofek said the ruling on interest rates was grossly defective, suspect and raises serious integrity questions on the part of CBK) and Kenya Bankers Association (KBA)…full story


IRA accused of shielding dodgy insurance firms
The Star, March 28, 2019 • March 28, 2019

Senators on Wednesday put the Insurance Regularity Authority on the spot for failing to reign in rogue insurance firms that do not honour customers’ claims…full story


Retired teachers accuse state unfair disbursement of cash
The Star, March 28, 2019 • March 28, 2019

More than 52,000 teachers awaiting Sh42.3 billion in salaries and pension arrears have accused the Pensions Department of unfairness in the distribution of the cash…full story


Investing in TVET is investing in national socio-economic development
The Standard, March 28, 2019 • March 28, 2019

TVET fairs and robotic contest is an initiative of the ministry mooted to act as a vehicle for publicity campaigns, harnessing of talents and sharing of the same with a view to enhancing innovation and creativity in our institutions…full story


Britam set for stake in Africa-focused PE fund Tiserin Capital
Business Daily, March 28, 2019 • March 28, 2019

Britam is set to acquire un­disclosed stake in an Afri­ca-focused private equity (PE) fund as the company seeks to diversify its investments beyond equities; real estate and bonds…full story


CBK retains basic lending rate
Daily Nation, March 28, 2019 • March 28, 2019

Borrowers have been spared higher cost of loans after the Central Bank of Kenya reached it’s benchmark signal rate at 9.0 per cent following yesterday’s Monetary Policy Committee (MPC) meeting…full story


Shl.3 billion road to open region for investments
Daily Nation, March 27, 2019 • March 27, 2019

Completion of a 6.5 kilometre dual carriageway from Musikoma of to Kanduyi is ex- Completion a 6.5 kilo- pected to reduce traffic congestion in Bungoma town…full story


Government should help SMEs grow, not facilitate their demise
The Standard, March 27, 2019 • March 27, 2019

National and county governments treat Small and Medium-sized enterprises (SMEs) shabbily. In recent times, they have come up with regulations whose intended or unintended impact is to cripple SMEs…full story


So you want to invest Sh100,000?
The Standard, March 27, 2019 • March 27, 2019

If you want to make a longer-term investment, you can consider a Treasury Bond, which are offered for up to 30 years. Typically , you’ll get interest payments every six months, with Central Bank of Kenya auctioning the bonds on a monthly basis. The Bank’s website provides details on what’s available…full story


Interest rates on short-term paper face further fall
Business Daily, March 27, 2019 • March 27, 2019

Interest rates on short-term government debt are likely to fall further despite last week’s moderate rise in yields on the 91-day Treasury bill, with high liquidity in the market likely to continue weighing on the returns on the papers. The Central Bank of Kenya has also largely rejected bids it considers expensive, forcing investors to […]


Pensioners decry tiring exercise
The People Daily, March 27, 2019 • March 27, 2019

Pensioner in Meru county have urged government to decentralize the on going head count…full story


Saccos under attack as fraudsters milk savings
The People Daily, March 27, 2019 • March 27, 2019

Siphoning of members; funds through dubious transactions threatens to kill a sector that injects. more than five per cent into the GD…full story


CMA to support use of fintech at the bourse
The Star, March 27, 2019 • March 27, 2019

Financial technology firms that develop applications aimed at deepening Kenya’s capital market will have a chance to undergo a 12-month live testing period…full story


State borrowing below target
The Star, March 25, 2019 • March 25, 2019

The government has so far raised Sh220.4 billion in bond Issues for the current financial year, 2.7 per cent short of Its target of Sh226.6 billion. While Investors bid Sh29.4 billion for the 25-year Infrastructure bond Issue, targeting 5h50 billion at last week’s auction, Central Bank only accepted bids worth Sh16.3 billion…full story


CBK holds meeting to set benchmark rate for loan
Business Daily, March 25, 2019 • March 25, 2019

The Central Bank of Kenya will hold Its Monetary Policy Committee meeting to decide on the base lending rates for commercial banks…full story


Harambee Sacco: Reclaiming the lost glory
Daily Nation, March 25, 2019 • March 25, 2019

Over the past 49 years, Harambee F Sacco Ltd has offered members the opportunity to save and borrow at affordable credit terms. Our loans are still at one percent on reducing balance, a price that was set in…full story


CUTTING EDGE:Unsafe Deposit Boxes
Daily Nation, March 25, 2019 • March 25, 2019

Vincent Owino thinks Parliament should urgently enact a law to make it mandatory for commercial banks like Barclays Bank to thoroughly inspect their customers’ safe deposit boxes…full story


Beware the risk of guaranteeing a loan
Daily Nation, March 25, 2019 • March 25, 2019

Picture this: Your friend asks you to guarantee his/her sacco loan. You automatically agree because you know him/her well…full story


Better planning needed on affordable housing
The People Daily, March 22, 2019 • March 22, 2019

The majority of Kenyans might be left out of the government’s housing programmes because of afford-ability challenges. Shelter Afrique Managing Director Andrew Chimphondah says the State and players in the real estate sector should venture into social housing projects to ensure the country’s housing shortage is addressed across all segments…full story


Family ventures embrace private equity for growth
The People Daily, March 22, 2019 • March 22, 2019

Most family owned businesses in Kenya (59 percent) would consider tapping private equity to help fund their ventures, a survey by Pricewater­ houseCoopers (PwC) has revealed,in the wake of a credit crunch in the local market amid default risks attached to bank loans…full story


To grow our economy, we need to empower more small-scale traders
Daily Nation, March 22, 2019 • March 22, 2019

Dr Mugambi is a deputy commissioner at Kenya Revenue Authority and the head of Kenya School of Revenue Admin­istration (Kesra). His experience spans 15 years in education management, insurance and consultancy work in seven countries…full story


Why High Court threw out law on interest rates law
Business Daily, March 22, 2019 • March 22, 2019

The judges took issue with Parliament’s failure to define the terms ‘credit facility’ and the ‘Central Bank Rate’ (CBR), leaving them open to misinterpretations…full story


Central Bank rejects over Sh13bn in bids for 25 year bond
Business Daily, March 22, 2019 • March 22, 2019

The Treasury has only raised a third of the targeted Sh50 billion in this month’s infrastructure bond after sub-par bidding and rejection of expensive funds by the Central Bank of Kenya (CBK) in the auction; Investors bid Sh29.4 billion for the 25- year…full story


Banks won’t have to raise cost of loans after rate cap review
Business Daily, March 22, 2019 • March 22, 2019

Last week, the High Court struck out the rate cap law on the grounds it is unconstitutional, giving the National Assembly 12 months to review it. As the Kenya Bankers Association we have in the past year engaged Parliament and will continue to do so, the same with the Central Bank of Kenya, the Treasury […]


Banks won't have to raise cost of loans after rate cap review
Business Daily, March 22, 2019 • March 22, 2019

Last week, the High Court struck out the rate cap law on the grounds it is unconstitutional, giving the National Assembly 12 months to review it. As the Kenya Bankers Association we have in the past year engaged Parliament and will continue to do so, the same with the Central Bank of Kenya, the Treasury […]


Rent and sacco disputes top cases handled by key tribunals
Business Daily, March 21, 2019 • March 21, 2019

Disputes over rent pay­ments and the oper­ations of Saving and Credit Co-operative Societies (saccos) form the highest number of cases filed with tribunals in Kenya, a new report from the Judiciary has shown…full story here andhere


SMEs need to cash in on Agoa pact
Daily Nation, March 21, 2019 • March 21, 2019

SMEs to capitalise on the United States African Growth and Opportunity Act…full story


Shilling falls as demand for dollar up
Daily Nation, March 21, 2019 • March 21, 2019

The shilling weakened further against the US dollar yesterday to touch the 101 level on the backdrop of heavy buyer demand for the greenback that outweighed support from diaspora and export inflows. We expect the local currency to continue being under pressure as dollar demand con­tinues to pick up amid increased vigilance by the Central […]


Fake cash shakes financial sector
The People Daily, March 21, 2019 • March 21, 2019

The recent seizing of fake money amounting to billions of shillings is sending jitters throughout the regional financial system with banks and telecommunication operators offering money transfer services adversely affected. Police recovered fake currency on Tuesday at the Barclays Bank Queens way Nairobi…full story


Funds for the elderly not credited to banks
Daily Nation, March 21, 2019 • March 21, 2019

Banks yesterday turned away elderly people who sought to withdraw money under the govern­ment-funded Inua Jamii programme…full story


Nairobi ranked among most expensive cities for expatriates
Business Daily, March 20, 2019 • March 20, 2019

It has become costly for expats to live in Nairobi compared to other African cities, according to the latest survey…full story  


Digitisation critical for growth of SMEs
The People Daily, March 20, 2019 • March 20, 2019

The manufacturing sector is ex­pected to create 1.3 million jobs and contribute 15 per cent to the GDP by 2022…full story


Cytonn protests project approval delays
Business Daily, March 20, 2019 • March 20, 2019

Real estate company Cytonn Investment has blamed lengthy regulatory processes for delaying its projects, forcing it to base completion on approval date…full story


Why due diligence is necessary when dealing with saccos
Business Daily, March 20, 2019 • March 20, 2019

Kenya National Bureau of Statistics and the Central Bank of Kenya it was established that Sac­cos performed better than banks…full story


Rotich raises red flag on Treasury-backed loans
Business Daily, March 20, 2019 • March 20, 2019

Treasury secretary Henry Rotich has raised the red flag over the growing risk posed by loans guaranteed by taxpayers on Kenya’s budget in the event of defaults…full story


Consumers fault court ruling against interest rate capping
Business Daily | March 19, 2019 • March 19, 2019

The Consumer Federation of Kenya (Cofek) yesterday-filed a notice to appeal the ruling that scrapped bank interest rates capping with effect after 12 months…full story


15,000 turn out for Ekeza fraud probe
Business Daily | March 19, 2019 • March 19, 2019

Detectives collecting evidence at Sh 1 billion theft at Ekeza Sacco were forced to cancel the session after being overwhelmed by the fraud complaints…full story


Bank stocks gain Sh13.6 bn after freeze of rate cap law
Business Daily | March 19, 2019 • March 19, 2019

Kenyan banks’ share prices rose further on the Nairobi Securities Exchange (NSE) on resumption of trade yesterday, three days after a court declared the lending rate cap null and gave Parliament 12 months to review it…full story


Judiciary sacco hits Sh5.4 billion assets
Daily Nation | March 19, 2019 • March 19, 2019

Sheria Sacco, whose membership is mostly drawn from the Judiciary staff, says it has attained an asset base of nearly Sh5.4 billion as at 2018…full story


Microlender cuts interest rate to woo more clients
Daily Nation | March 19, 2019 • March 19, 2019

Borrowers from a local micro lending institution can breathe a sigh of relief after the finn slashed its interest rates to between four per cent and 5.9 per cent from 6-5 per cent for all their loans…full story


M-Akiba bond lists on NSE as it misses Sh250 million target
The Standard | March 19, 2019 • March 19, 2019

The National Treasury’s second list­ing of the M-Akiba infrastructure bond has begun trading at the Nairobi Securi­ties Exchange (NSE) after falling short of the Sh250 million target…full story


Making 52-weeks savings challenge a reality
People Daily | March 19, 2019 • March 19, 2019

The first quarter of the year is almost over. If the 52-week savings challenge was part of your resolution, you should have saved Sh5,500 by now, which is still far from Sh1 37,800 target. How do you stay on track?…full story


StanChart releases emerging market bonds 2019 Outlook
Business Daily | March 18, 2019 • March 18, 2019

Standard Chartered Bank will today address the media on emerging market bonds-2019 Outlook. Central Bank of Kenya gov­ernor Patrick Njoroge reckons the green bonds would help diversify Kenya’s capital markets and also pro­vide lenders with opportunities to fund green Initiatives…full story


Budget deficit tipped to fall below 6.3pc
Business Daily | March 18, 2019 • March 18, 2019

The fiscal deficit is likely to come in below the Treasury estimate of 6.3 percent by the end of the financial year if the poor absorption of expenditure continues; an investment bank has said…full story


SBM Bank and Cytonn ink Sh650m project loan
Business Daily | March 18, 2019 • March 18, 2019

SBM Bank and Cytonn will sign a Sh650 milllon loan facility that will be deployed to The Alma…full story


Sacco in cheap loans for youth
The Star | March 18, 2019 • March 18, 2019

Lack of collaterals and increasing numbers of loan defaulters are affecting running of businesses, chairman of Biashara Sacco Society Joseph Njamuku has said…full story


Ekeza Sacco members to get back savings in 2 months
The Star | March 18, 2019 • March 18, 2019

Members of the troubled Ekeza Sacco might recover their savings in two months. Yesterday, chairman of Ekeza Sacco David Gakuyo announced a 60-day recovery plan during which those who wish to with- draw their savings will access their money…full story


Barclays warns on rates cap as profit hits Sh7bn
Daily Nation, March 12, 2019 • March 12, 2019

Barclay’s Bank of Kenya (BBK) Chief Executive Jeremy Awori warned yesterday that failing margins from loans and advances were beginning to squeeze commercial lenders in the country, even as the bourse-listed firm recorded a seven per cent jump in net profit to hit Sh7,41 billion…full story


Barclays warns on rates cap as profit hits Sh7bn
Daily Nation, March 12, 2019 • March 12, 2019

Barclay’s Bank of Kenya (BBK) Chief Executive Jeremy Awori warned yesterday that failing margins from loans and advances were beginning to squeeze commercial lenders in the country, even as the bourse-listed firm recorded a seven per cent jump in net profit to hit Sh7,41 billion…full story


Banks hit back at MPs on large cash transfer
The Standard, March 12, 2019 • March 12, 2019

Banks have taken on Parliament over the stringent measures by the Central Bank requiring full disclosure on cash transactions exceeding Sh1 million in recent Dusit D2 terrorist attack. It emerged that on October 26, last year, Central Bank Governor Dr.  Partrick Njoroge had raised concern over the contested amendment to the Attorney General…full story


Cytonn woos youth with new offering
The Standard, March 12, 2019 • March 12, 2019

Cytonn has unveiled a new arm of its business targeting the youth to save for investment and retirement…full story


Researchers push for global seed market share
The Standard, March 12, 2019 • March 12, 2019

Speaking during the Africa Seed Trade Association (Afsta) congress at Pridelnn Paradise Beach Resort in Mombasa yester­day, Agriculture Research PS Hamadi Boga said Africa was yet to tap fully into $47 billion (about Sh4.7 trillion) global seed trade…full story


Cytonn seals deal for Sh650m loan with SBM BanK
Business Daily, March 12, 2019 • March 12, 2019

Cytonn Investments Management Pie has reached a deal with midtier SBM Bank Kenya for a Sh650 million loan. The investment management finn said on Monday signaling a plan to diversity its funding sources…full story


Investors shun papers on low returns
Business Daily, March 12, 2019 • March 12, 2019

Investors last week shunned three month government reduced by CBK…full story


Kenya’s bond market hits a snag
The Star, March 11, 2019 • March 11, 2019

One of the year’s best performing bond markets, Kenya, suffered its worst day since November on Friday, as a multi-million dollar scandal building around its finance minister was compounded by a bad day for riskier assets globally…full story


Kenya's bond market hits a snag
The Star, March 11, 2019 • March 11, 2019

One of the year’s best performing bond markets, Kenya, suffered its worst day since November on Friday, as a multi-million dollar scandal building around its finance minister was compounded by a bad day for riskier assets globally…full story


Genghis Capital survives Sh10.8m liquidation bid
Business Daily, March 11, 2019 • March 11, 2019

The High Court has dismissed a liquidation suit against invest­ment firm Genghis capital by a client whose money is held up in the collapsed Chase Bank…full story


Inflation seen muted in the coming months
Business Daily, March 11, 2019 • March 11, 2019

The rise in cost of living is ex­pected to moderate further in coming months due to con­tinued fall in food prices that should cancel out any inflation­ary effects of higher fuel-prices. Economists at global lender Citi also hold the view that low food inflation should keep the rise in cost of living closer to the […]


Big 4 untenable, focus on health, food – MP
The Star, March 11, 2019 • March 11, 2019

A Central Kenya MP wants the government to reduce the Big Four Agenda to Big Two…full story


Electronic payments firm PesaPal adds options to app
Business Daily, March 11, 2019 • March 11, 2019

Electronic payments firm Pesa­Pal has added payment options in its integrated mobile money processing platform for shop­pers and those making utility payments. It has partnered with Safaricom’s M-Pesa, Visa and Mas­terCard to enable the payments…full story


Banks up scrutiny on firms after CBK fines
The Standard, March 11, 2019 • March 11, 2019

Firms that do business with the Government have been classified as high risk by banks as they move to tighten scrutiny on their accounts. This is in the wake of the latest National Youth Service (NYS) scandal that saw Central Bank of Kenya (CBK) fine five banks – KCB Group, Equity, Standard Chartered, Cooperative and […]


When tax strategies are problematic for firms
Business Daily, March 8, 2019 • March 8, 2019

Many corporations work with tax planning firms to reduce their liability and improve their bottom line. But when an accounting agency is too aggressive, a lack of transparency can develop, which often increases the financial complexity of the organisation…full story


We’re dancing with the wolves in public-private deals – Mudavadi
The Star, March 8, 2019 • March 8, 2019

Amani National Congress leader Musalia Mudavadi has asked President Uhuru Kenyatta to stop public-private partnerships to save public resources, KPLC, Galana KulaIu, NYS, Afya house, Ketraco, NHIF, KFS, Eurobond, and IEBC, among many other scandals…full story


Kenyans in worrying debt levels by mobile lenders
The Star, March 8, 2019 • March 8, 2019

Parliaments Information, Communications, and Technology committee asked Central Bank of Kenya to introduce regulations to control interest rate charged by the lenders. For instance, besides M-Shwari, leading telecommunications firm Safaricom introduced an overdraft dubbed Fuliza in February this year…full story


Cashless payment uptake hailed
The Standard, March 8, 2019 • March 8, 2019

Adoption of cashless payment by county governments has been credited with boosting revenue collection. Safaricom Chief Enterprise Officer Rita Okuthe said the move had diminished leakages…full story


Administrator gets another stab at saving Nakumatt
The Standard, March 8, 2019 • March 8, 2019

Nakumatt’s court appointed administrator has been given another shot to sort out the mess at the troubled retailer following a year of frustrations by creditors…full story


On pensions and retirement plans
Daily Nation, March 8, 2019 • March 8, 2019

The chief manager for market conduct at the Retirement Benefits Authority (RBA), Ms Anne…full story


Shilling jumps to three-and-half year high against the US dollar
Daily Nation, March 8, 2019 • March 8, 2019

Central Bank was also in the market to mop up Sh2.o billion in excess liquidity that has flowed in due to maturities in domestic debt and government budgetary disbursal’s to its agencies and departments…full story


Banks say delay in excise tax cases may cost them billions
The Standard, March 7, 2019 • March 7, 2019

Commercial banks now want a case in which they are challenging the legality of the tax on all chargeable money transactions introduced last year expedited, fearing backdated charges running into billions of shillings…full story


Kenya’s political climate has failed to facilitate the rebound of SMEs
The Standard, March 7, 2019 • March 7, 2019

When Kiambu Town MP Jude Jomo brought amendments to the Banking Act that saw interest rates capped, Uhuru Kenyatta signed it into law despite warnings from Treasury and the Central Bank of Kenya…full story


Kenya's political climate has failed to facilitate the rebound of SMEs
The Standard, March 7, 2019 • March 7, 2019

When Kiambu Town MP Jude Jomo brought amendments to the Banking Act that saw interest rates capped, Uhuru Kenyatta signed it into law despite warnings from Treasury and the Central Bank of Kenya…full story


State ‘inflated’ loan insurance by Sh10b
The Standard, March 7, 2019 • March 7, 2019

The Government paid Sh10 billion to insure the loans taken for construction of the controversial dams, but industry experts argue the cost should not have exceeded Sh1 billion…full story


State 'inflated' loan insurance by Sh10b
The Standard, March 7, 2019 • March 7, 2019

The Government paid Sh10 billion to insure the loans taken for construction of the controversial dams, but industry experts argue the cost should not have exceeded Sh1 billion…full story


Banks back tough money laundering regulations
Business Daily, March 7, 2019 • March 7, 2019

Commercial banks have backed the Central Bank of Kenya (CBK) stringent anti-money laundering laws, despite plans by legislators to relax them. The lender was among five banks including Standard Chartered Kenya, Equity Bank, Diamond Trust Bank and Co-operative Bank, which the CBK fined for not following proper procedures when they helped to move Sh8 billion […]


Housing Finance slashes home prices by 30 per cent
Daily Nation, March 7, 2019 • March 7, 2019

Competition for housing units in- gated communities went a notch higher yesterday after listed real estate developer-cum-lender HF Group announced a 30 per cent discount for 700 properties…full story


Kenya tops in E. Africa project investments
Daily Nation, March 7, 2019 • March 7, 2019

Kenya emerged the most attractive investor destination in East Africa in 2018, with 41 foreign-funded public projects taking up Sh382 billion…full story


China to change foreign investors law
Daily Nation | March 5, 2019 • March 5, 2019

China’s legislature will vote next week on a highly-anticipated bill that will bring a fundamental change for foreign investors, an official said on Monday, in a move that could help ease US trade tensions…


UBA targets new African deals with London office
Business Daily | March 5, 2019 • March 5, 2019

Lagos-based banking multinational UBA Group, which operates in Kenya as UBA Kenya, has opened a London office seeking to tap new African deals…


Big 4 Agenda: The capital markets solution to housing
Business Daily | March 5, 2019 • March 5, 2019

As the Government of Kenya looks at various financing options for affordable housing, the Capital markets offer solutions worth exploring…


Digital lending key to-attaining SDGs
Business Daily | March 5, 2019 • March 5, 2019

Digital lending has continued to witness exponential growth in Kenya. According to a 2018 survey by the Financial Deepening Sector (FSD, Kenya), there are an estimated 49 loan applications in Kenya including from mainstream banks such as M-Shwari, KCB M-pesa and credit- only digital lenders such as Tala and Branch


Foreign net inflows back at NSE after 16 months
Business Daily | March 5, 2019 • March 5, 2019

Foreign investors at the Nairobi Securities Exchange (NSE)’ in February recorded a net buying position for the first time in 16 months, taking positions on a number of blue chips with an eye on dividend and capital gain…full story


Low T-bill returns to spur M-Akiba, say analysts
Daily Nation | March 5, 2019 • March 5, 2019

The ongoing sale of a Sh250 million mobile-based infrastructure bond M-Akiba is likely to be snapped up by Friday, analysts say, citing attractive returns compared with prevailing investment options such as Treasury bills…


Unrealistic budgets bad for the economy – ICPAK
The Star, February 27, 2019 • March 4, 2019

Accountants have accused Treasury of presenting over-ambitious and unrealistic budgets that end up pilling pressure on Kenyans as the tax collection agency struggles to meet targets


Nakumatt woes force mall developers to change tack
The Standard • February 28, 2019

When Nanyuki Mall opened in Nanyuki, it quickly became one of the most prominent locations in the town. This was in many ways thanks to its retail tenant, Nakumatt…


CMA drafts regulations for fintechs
Daily Nation • February 28, 2019

The Capital Markets Authority (CMA) has published draft regulations on the criteria for approving the operations of financial technology (FinTech) firms…


Green bonds demand forecast to hit Sh91 billion in a decade
Business Daily • February 28, 2019

Kenya has a demand for climate-friendly bonds amounting to Sh91 billion in the next five to 10 years, newly released research indicates…