Safaricom’s CEO regrets not expanding to other African Markets
The CEO of East Africa’s most profitable company, Bob Collymore, is happy with the progress Safaricom has made in the last nine years. The company has evolved from a purely [...]
Prices of Nairobi's Prime Properties suffer worst fall in history
An index measuring Nairobi's prime house prices suffered its worst decline in the index history and there is no sign of a bottom for the market. The Knight Frank Prime [...]
Be vigilant of money launderers during demonetization period Kenya Bankers
The Kenya Bankers Association (KBA) has cautioned the public to be vigilant during the four-month demonetization period in which the Central bank seeks to mop up 217 million pieces of [...]Kenya Budget Reading Set for 13th June 2019
LISTEN TO ARTICLE The National Treasury has announced that the budget reading for the fiscal year 2019/2020 will be held on Thursday 13th June 3 PM. In a statement dated [...]
Kenya’s demonetization drive seeks to mop up KSh 217 Billion in circulation
The Central Bank of Kenya is in the process of demonetizing 217.6 million pieces of the KSh1,000 old series notes. According to the Central Bank governor Dr. Patrick Njoroge, the [...]KCB Shareholders Approve Deal to Acquire NBK
KCB shareholders have approved the deal to acquire 100 per cent of the issued ordinary shares of NBK through a share swap which will make the merged entity the largest [...]IMF says Kenya’s rate cap law one of the most drastic in the world
LISTEN TO ARTICLE In the past decade, Kenyan banks charged extremely high-interest rates on loans. The exorbitant rates were viewed as a hindrance to financial access, greater investments, and economic [...]Kenya's May Inflation Rate Drops to 5.5%
LISTEN TO ARTICLE Kenya’s inflation rate in May dropped to 5.49% from 6.6% in April as the food, and non-alcoholic beverages index fell 0.37%, the Kenya National Bureau of Statistics [...]Kenya Unveils New Banknotes, Recalls Old Ksh 1000 notes
LISTEN TO ARTICLEHF Group Sinks into Sh 157.7 million pretax loss in Q1 2019
LISTEN TO ARTICLE Housing Finance Group posted a KSh158 million pretax loss in the first quarter of 2019, a huge drop from the Ksh53 million pretax profit booked in March [...]Court grants KRA permission to collect withholding taxes from Sportpesa
The Kenya Revenue Authority (KRA) has received a go-ahead to collect more than Kshs 2.7billion worth of monthly taxes on withholding tax on winnings from Sportpesa. This follows from a [...]UK Govt seeks more investment opportunities in Kenya
LISTEN TO ARTICLE The UK is the largest foreign investor in Kenya. There are more than 250 British companies based in Kenya and valued at over KSh260 billion (£2 billion). [...]
