Oil Slips Further as Rising COVID-19 Infections Hits Demand.
Oil pricesfell more than 2% as fresh coronavirus lockdowns revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil [...]
Standard Chartered's Profit Falls 34% as Loan Loss Provisions Soar
Standard Chartered Bank Kenya has posted a 34% decline in its full-year net profit for the year that ended on 31st December 2020. The bank's net profit dropped to KSh [...]
Kenya's Parliament in an Attempt to Curb Treasury's Borrowing Appetite
Members of Parliament (MPs) in Kenya are seeking to amend the law to set limits on how much Treasury can borrow. The Public Finance Management (Amendment) Bill 2019, in part, [...]
Parliamentary Committee Mulls Reviews on Fuel Taxes as Kenyans Lament High Fuel Prices
The National Assembly's Energy Committee is considering a review on fuel taxes, following the sharp rise in pump prices in the March Energy and Petroleum Regulatory Authority (EPRA) reviews. Media [...]
Kenya Eyes Power Trade Business with New Grid Network
Kenya sets eyes on the power trade business with recent efforts to improve its grid network to connect with its neighbours. One of the two major grid networks, The Olkaria [...]Respite for Borrowers as CBK Extends Loan Restructuring to June 2021
The Central Bank of Kenya ( CBK) announced that it has extended loan restructuring by commercial banks to cover loans that were performing as of March 2 2020, but were [...]Bharat Thakrar Resigns From WPP Scan Group on Allegations of Gross Misconduct
Bharat Thakrar has stepped down from the role of CEO at WPP Scan Group, a company he founded nearly four decades ago, after he was suspended from the position in [...]Safaricom Teams with Nokia Huawei To Launch 5G Network
Telecommunication giant, Safaricom PLC will on Friday 26th March 2021 unveil the 5G network in partnership with Nokia Corporation and Huawei Technologies. The commercial launch follows several trials by Safaricom since 2018 [...]
Google Play Store purchases in Kenya to attract 16% VAT
Google, a US technology company that deals in Internet-related services and products, has indicated that it will start taxing 16% Value Added Tax(VAT) for Google Play purchases in Kenya, effective [...]Centum Issues Profit Warning After Record Half-Year Loss
Centum Investments, one of the largest investment companies in East Africa, has warned investors that its full-year net profit for the year that ends on 31st March 2021 is expected [...]Absa Bank Kenya Posts Normalised Net Profit of Ksh 6.5 Billion for Full Year 2020
Absa Bank Kenya PLC on Tuesday said its normalised profit after tax for the period ended December 2020 fell by 23% to Ksh 6.5 billion mainly due to pandemic related [...]Umeme's Net Profit Drops by 69% to $11.8 Million
Umeme Limited, the largest electricity distributor in Uganda, has recorded a sharp decline in net profit after a challenging financial year. The firm's net profit fell to USh43.1 billion ($11.8 [...]
