Central Bank retains base rate at 9%
LISTEN TO ARTICLE The Monetary Policy Committee maintained the Central Bank lending rate at 9 per cent for the fifth consecutive time during their bi-monthly meeting on 27th May. The [...]
PBO lowers Kenya’s 2019 economic growth rate to 5.6%
LISTEN TO ARTICLE The Kenyan government predicted that the economy would expand by 6.2 per cent in 2019. However, the Parliamentary Budget Office has revised the growth rate down to [...]Kenya starts lobbying to host AFCTA Secretariat
The Kenyan Government through the ministry of foreign affairs has begun lobbying to host the secretariat of the Africa Continental Free Trade Area (AFCTA) which aims to create the largest [...]
Kenya’s Treasury puts 2019/2020 budget deficit at Sh607 billion
LISTEN TO ARTICLE The National Treasury will have to raise KSh607 billion to seal the budget gap for the financial year 2019/2020. The budget deficit amount has gone up KSh31 [...]Coop Bank posts 4.4% rise in Q1 Profit after Tax
LISTEN TO ARTICLE Co-operative bank of Kenya’s profit after tax grew by 4.4% to Ksh3.6 Billion in the first Quarter of 2019 compared to a similar period in 2018. Non-interest [...]ARM shareholders could get KSh10.42 per share from the sale of the company
ARM Cement recently signed an agreement to sell its Kenyan business to its rival company National Cement. The transaction is valued at KSh5 billion and involves the sale of; an [...]Rate of growth in house prices drops 2.78%, largest decline since 2013
LISTEN TO ARTICLE The Kenya Bankers Association-Housing Price Index shows that growth in house prices declined by 2.78 per cent in the first quarter of 2019. It is the largest [...]Kenya Airways CEO Sebastian Mikosz offers to resign
LISTEN TO ARTICLE Sebastian Mikosz, the CEO of national carrier Kenya Airways has offered to resign from his role five months before his 3-year term comes to an end. Mr [...]
Linus Gitahi appointed Chairman of Diamond Trust Bank
LISTEN TO ARTICLE Mr. Linus Gitahi will now serve as DTB’s Chairman after he was appointed during the company’s AGM on 23rd May. He takes over from Mr. Abdul Samji, [...]Kenya ranked best in Africa in Government Readiness for Artificial Intelligence.
Kenya has been ranked best in Africa and 52nd Globally in the recently released Government Artificial Intelligence Readiness Index 2019. The Government AI Readiness Index 2019, Compiled by Oxford Insights [...]Stanchart reports 31% growth in Q1 earnings
LISTEN TO ARTICLE Standard Chartered Bank of Kenya’s profit after tax for Q1 2019 grew by 31.2% to Ksh2.4 Billion. Non-interest revenue for the period grew by 5.6% to 2.4 [...]Eveready’s half-year loss narrows to Sh 39.6 million
LISTEN TO ARTICLE Eveready East Africa posted an improvement in its half-year results from a net loss of KSh64.6 million in 2018 to a net loss of KSh39.6 million in [...]
