Tuskys Pays KSh 2.77 B To Suppliers, Eyes a Strategic Investor
Tusker Mattresses Limited (Tuskys) paid KSh 2.77 billion to its suppliers in June, following an order from the Competition Authority of Kenya (CAK). The retailer is seeking alternative funding options, [...]
World Bank Pushes G-20 to Extend Debt Relief to 2021
World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, [...]
Kenya's Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans
The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. [...]IM Signs Agreement to Acquire 90% of Uganda's Orient Bank
IM Holdings PLC has issued a cautionary announcement advising its shareholders of a proposed transaction between the bank and Uganda's Orient bank Limited, which may affect the value of its [...]Kenya Shilling to Come Under Intense Pressure
The Kenya Shilling is expected to come under intense pressure in the coming days as the economy returns to normal operation. Importers are set to increase demand for dollars, thereby [...]Weekly Trading Activity at NSE Drops to KSh 3.4 Billion
Turnover for the Nairobi Securities Exchange(NSE) declined to KSh 3.4 Billion in the past week from a turnover of KSh 4.2 Billion during the previous week that ended on July [...]Kenya Railways to Start Kisumu Line Upgrade on 1st August
Kenya Railways has announced plans to start upgrading the old railway line running from Nairobi to Kisumu. The upgrade is set to begin on 1st August 2020 and will take [...]Government to Invest KSh15 Billion to Revive Fish Farming in Counties
The government plans to spend KSh15 billion in an initiative that will boost fish farming in 15 counties. This is an effort to double fish consumption per capita in the [...]Kenya's Public Debt Rises to KSh 6.6 Trillion
Kenya's total Public Debt rose to KSh 6.6 Trillion at the end of May this year compared to KSh 6.4 Trillion in April 2020 and KSh 6 Trillion in February [...]Kapchorua Tea Kenya Reports KSh19.4 Million Net Profit
Listed tea processor, Kapchorua Tea Kenya Plc, has reported a profit of KSh19.4 million according to its audited accounts for the financial year ended 31st March 2020. This is compared [...]Uber Delivery Service Connect Launches in Kenya
Uber recently launched Uber Connect delivery services in Kenya, a move that follows its global shift to delivery services. The service will use motorcycles to deliver packages, providing same-day courier [...]Low Sales Push 65% of Kenyan Small Businesses to Cut Staff
Kenyan businesses are the worst hit among Sub Saharan Africa as 65% of small businesses operating on Facebook reduced their employee numbers as a result of the pandemic. Ghana follows [...]
