CIC Insurance to Downsize Workforce by 10%
CIC Insurance Group Plc, a leading insurance firm listed at the Nairobi Securities Exchange (NSE), has begun a staff rationalization program that will see it reduce its workforce by 75 [...]
Why SACCO Lobby's Central Finance Fund is Under Probe
Kenya Union of Savings and Credit Co-operatives (KUSCCO) Limited top officials and directors have been under investigation by the Sacco Societies Regulatory Authority (SASRA) on suspicion of running some Sacco [...]Network Sacco Risks Collapse Due to Non-Remittances by Standard Group
In the midst of its ongoing financial crises, listed media group Standard Group has not been remitting Sacco deductions to Network Sacco, placing the industry Sacco at the risk of [...]Kenya Prepares Return to International Capital Markets
Kenya's National Treasury has appointed Citi and Standard Bank as joint lead managers to assess potential international US$ capital markets funding and liability management options for Kenya. In the absence [...]CBK Accepts KSh 61.2 B at Weekly Auction, 255.6% Oversubscription
The Central Bank of Kenya(CBK) received bids worth KSh 61.4 billion at the weekly treasury bills auction, out of KSh 24 billion on offer, an oversubscription of 255.6%. It accepted [...]NSE Admits First Islamic Product on its Unquoted Securities Platform
The Nairobi Securities Exchange PLC (NSE) has approved the listing of Linzi Sukuk on the bourse’s Unquoted Securities Platform (USP), making the product the first Shari’ah-compliant product to be admitted [...]Government Seeks to Add Asset Finance to Hustler Fund
Treasury has signalled a reduction in the budget for the Hustler Fund by almost half, to KSh 5 billion, in the latest budgetary changes.
Manufacturers Raise VAT Refunds, Dollar Shortage, With IMF Team
The Kenya Association of Manufacturers (KAM) has raised the issue of delays in Value Added Tax(VAT) refunds with a visiting team from the International Monetary Fund (IMF). KAM raised concerns [...]M-PESA Drives Safaricom Half-Year Profit to Ksh 34.2 billion
In September, Ethiopia average data usage at 4.3 gigabytes per customer was higher than Kenya's 3.7 gigabytes.CBK Collects KSh 67.1 Billion from Infrastructure Bond Sale
The Central Bank of Kenya (CBK) received bids worth KSh 88.9 billion from the KSh 50 billion, 6.5-year Infrastructure Bond, an oversubscription of 177.8%, and accepted bids amounting to KSh [...]KRA Seeks Airbnb Transaction Data from 2021
The Kenya Revenue Authority (KRA) is seeking data on tax compliance from Airbnb owners from 2021 to 2022 period. KRA has issued an exchange of information request to the Irish [...]BasiGo Secures US$1.5M Grant for E-mobility Pilot in Rwanda
E-mobility company BasiGo has secured USD 1.5M grant from the United States Agency for International Development (USAID) to support a pilot program in Kigali, Rwanda. The pilot program aims to [...]
