Banks seek major CBK rate cut to boost loans Banking lobby decries challenges in credit markets as private sector lending tumbles,
Half of banks fail to slash interest rates in October Weighted overall average lending rate eased slightly to 16.87pc from 16.9pc in September.
StanChart profit up 63pc on income from lending At Sh15.8bn, the lender's results mark the fastest growth of earnings.
Mobile cash transactions hit Sh6.5trn in nine months The rise reverses a 2.7 per cent dip in the same period last year after Airtel reviewed its policy.
UBA to support youth, women-run businesses Pan-African lender terms the two demographics key drivers of economic growth.
Digital payment firms shed 1.5 million users on higher taxes, controls Several changes in the mobile money sector, including increase of excise duty, made transactions more expensive for users.
Kenyan shilling stable versus dollar, LSEG data shows On Monday morning the shilling traded at 128.50/129.50 against the dollar, the same as Friday's closing rate.
CBK cuts this year’s growth forecast to 5.1pc The Kenyan economy experienced a GDP growth of only 4.6% in Q2, the slowest pace since the pandemic.
Maize farmers turn to hay as hope of better prices dims The government has ruled out increasing the offered price of Sh4,000 per 90kg bag of maize.
How Kuscco top bosses siphoned Sh580m annually CS Chelugui said has disbanded the union's entire board over questionable financial dealings.
KRA collected a paltry Sh354m in taxes from Covid-19 billionaires Taxes realised from 851 importers who supplied 431,614 COVID-19-related items to Kemsa between March 2020 and July 2020.
State House is top beneficiary of Sh70bn budget Presidency received Sh5.86 billion or 56.5 percent of the total budget of Sh9.84 billion.
Ruto’s borrowing rises to Sh62.1 million an hour Report details that state borrowed Sh1.5 billion a day in new loans.
PREMIUM The burden of ‘budgeted graft’ on Kenyan taxpayers Watchdog reports continue to lay bare the wanton wastage and brazen looting that is enriching a few elites and burdening a majority with punitive taxes.
The West pledges help for Kenya after being listed as conduit for dirty cash Kenya was last Friday placed among 23 countries in a list of shame known as the ‘grey list’.
Shilling falls to new low of Sh160 to the dollar Currency dealers say dollar demand from the energy and manufacturing sectors has put pressure on the shilling over the past week.
Vicious fight erupts over Sh800m at Ecobank Kiwipay (K) Ltd locked in a court battle with four foreign firms.
PREMIUM Kenya’s Eurobonds cross Sh1trn mark Kenya has six outstanding international sovereign bond issuances with maturities spread between 2024 and 2048.
PREMIUM Coming soon: Better dollar rates for firms The introduction of the electronic platform is part of reforms that the CBK has been rolling out to improve the functioning of the forex market.
PREMIUM New Bill sets out to protect borrowers and guarantors Bill provides for full disclosure of information by a lender to a potential borrower and guarantor before giving the loan.
PREMIUM Free fall? Shilling breaches 150 mark against the dollar In comparison to other regional currencies, the shilling loss against the dollar this year stands out.
Rubis bags second Sh1.8bn KPLC fuel contract The project will be funded by the Agence Française de Développement (AFD)
How Israel-Hamas war will hit Kenya The war between Israel and Palestinian group Hamas is set to hit Kenya with fresh economic pain.
Middle East conflict lifts NSE gold prices to new high The price of gold exchange-traded funds at NSE has jumped to a new historical high of Sh2,840.
Revealed: Mandate of KRA revenue assistant Tax authority outlines key roles of Revenue Service Assistants.
Shilling likely to tumble further Low foreign exchange inflows and high global interest rates could see the shilling continue to lose ground.
Treasury needs additional Sh140bn to pay salaries President Ruto has repeatedly said he will not borrow to finance recurrent expenses.
PREMIUM The waning shilling For the second year running, the shilling has shed nearly 30 per cent of its value against the US dollar since the start of 2022.
Kenyans to go through banks for forex over $100,000 — CBK Central Bank of Kenya data shows shilling exchanged at an average of 146.49 units to the dollar on Wednesday.
