MPC Expected to Lower the Central Bank Rate
The Central Bank of Kenya's Monetary Policy Committee (MPC) meets today Monday 25 November. Interestingly, this will be the first meeting since repealing the law capping interest rate in a [...]
IMF to renew Kenya’s US$ 1.5 Billion Loan Facility in early 2020
The International Monetary Fund (IMF) has confirmed that renewal of a $1.5 billion standby credit facility with Kenya will take place in early 2020. This disclosure was made at the [...]
Kenya and Ethiopia are Working on a Title Deed to Give Ethiopia a Berth in the Lamu Port
Kenya and Ethiopia are speeding up a title deed to allow Ethiopia to own a berth in the Lamu port. A space in the Lamu port would serve defence and [...]
European Union to Invest KSh2.8 Billion in Kenyan Businesses
The European Union (EU) has promised to invest KSh2.8 billion in Kenyan businesses. According to EU representative to Kenya, Ambassador Simon Mordue, the funding will be limited to businesses whose [...]South Africa to Begin Testing E-Visa Access for Kenyans
South Africa is set to begin testing the electronic visa (e-Visa) access for Kenyans as from this month. The new systems aims at eliminating the need to go to a [...]Senate Seeks Regulation and Taxation of Digital Cabs
The Senate Committee on Labour and Social welfare intend to have the formulation of taxation and regulation policies for digital cabs in Kenya. Senators opine that Kenya Revenue Authority may [...]Banks' Bad Debts Double in Three Years
Kenyan banks continue to record rising nonperforming loans (NPLs). A report from the Central bank shows that NPLs rose from 12.4% to 12.6% between July and August 2019. Moreover, third-quarter [...]CBA Group Q3 2019 summary
Commercial Bank of Africa (CBA) released their Q3 results for the period ended 30th September 2019. It reported a total interest income of Ksh 15 billion; a 2% increase from [...]NIC Bank Q3 2019 Summary
NIC Bank (Now part of NCBA Group) released its Q3 results for the period ended 30th September 2019. It reported an interest income of Ksh 13.8 Billion, an increase of [...]Bank of Africa Kenya Ltd posts KSh 100.7 million net earnings
Bank of Africa(BoA) Kenya Limited has recorded an increase in net earnings for the nine months of this year to KSh 100.6 Million from KSh 62.5 Million over a similar period [...]Non-Funded Income Drives Banks' Q3 Profits
Banks in Kenya heavily relied on non-funded income (NFI) to drive profit, as evident in the quarter three results. Between January and September, Kenya's five biggest banks recorded a net [...]Safaricom Partners with KBL to Connect Coolers Using IoT Tech
Safaricom has partnered with Kenya Breweries Limited (KBL) so as to connect and enhance KBL's coolers throughout the country. The partnership will see the coolers connected with sensors, which leverage [...]
