Kenya in Discussion with IMF for Budgetary Support
Kenya is holding talks with the International Monetary Fund (IMF) for a fund arrangement, barely six months after it obtained US$ 739 Million in May to enable it weather disruptions [...]
Ponzi scheme Crowd1 Goes Down With Upto €1 Billion of Clients Funds
Crowd1 Ponzi Scheme has collapsed following an expose by the BBC Africa Eye but not without taking away investors fortunes. The BBC team went undercover for six months trying to [...]
Mombasa Tea Auction Records a Price Stagnation
Theweekly MombasaTea Auction held on the 26th and 27th October 2020 had 9.8 million kilograms of tea offered for sale. The amount on offer increased from 9.7 million kilograms offered [...]
KRA Waives Presumptive Tax for New Businesses for First 24 Months
The Kenya Revenue Authority has waived Presumptive tax for new businesses for the first 24 months to simplify tax payments and ease business costs. A notice from the Authority shows [...]Macdonald Obudho Appointed New KNBS Director-General
Mr Macdonald Obudho has ascended to the helm of the Kenya National Bureau of Statistics (KNBS) as Director-General. Mr Obudho takes over from Zachary Mwangi whose eight-year tenure ended on [...]NSE Records a 12% Decline in Turnover to KSh 435.32 Million
Equity turnover at the Nairobi Securities Exchange (NSE) was KSh 435.32 Million when the bourse closed today, a 12% drop from the previous trading session. 13.23 Million shares exchanged hands [...]Sportpesa's Return Hits a Snag Pending a Trademark Row
Punters may have to wait longer to place their stakes in betting firm SportPesa following the suspension of services pending a trademark row. SportPesa announced a comeback to the Kenyan [...]Unclaimed Assets Surpass KSh17 Billion as UFAA Deadline Lapses
Assets in the custody of the Unclaimed Financial Assets Authority (UFAA) surpassed KSh17 billion on October 29, a day to the October 30 deadline. Corporations and State agencies remitted Ksh [...]East African Portland Cement Records KSh2.8 Billion Full-year Net Loss
East Africa Portland Cement company has recorded a net loss of Ksh2.8 billion for the year ended June 30, 2020 which is lower than the Ksh3.4 billion net loss recorded [...]Ms Winnie Ouko Resigns as Absa's Non-Executive Director
Ms Winnie Ouko has resigned from Absa Bank Kenya Plc's Board as an independent non-executive director, with effect from 30th October 2020, to pursue other career interests. Since her appointment [...]Safaricom Appoints New Directors to its Board
Safaricom Plc has announced changes in its Board of Directors, with the Board appointing Ms Raisibe Kgomaraga Morathi as a Director, with effect from 1st November 2020. In August this [...]NCBA to Layoff Staff as Pandemic Bites
NCBA has embarked on a lay off exercise as the COVID-19 pandemic has significantly affected its operations. The bank says that COVID 19 has affected the execution of its growth [...]
