Kenya Introduces New Law to Safeguard Sacco Members from Mismanagement of Funds
A new law has been drafted to safeguard the savings made by Sacco members following cases of funds mismanagement and fraud. In the new law, directors of Saccos will be [...]
Lake Region Counties to Purchase Consolidated Bank for Ksh2.8Bn
The Lake Region Economic bloc comprised of 14 counties has received approval from Treasury to acquire government-owned Consolidated Bank. Negotiations to buy the Bank have been ongoing since April 2018. [...]CMA Fines Bond Trader Ksh166.9Mn for Insider Trading
David Tumaini Maena, a former CBA Capital bond trader, has been charged a financial penalty of Ksh166.9 million for engaging in insider trading activities between 2016 and 2017. It is [...]BRCK Buys Out Kenya’s Second Largest WiFi Provider, Surf
BRCK has acquired an internet provider, Surf, to form sub-Saharan Africa’s largest public Wifi network. The acquisition will enable BRCK to gain more fixed Wifi locations. BRCK was established in [...]Ksh10K Penalty for Housing Fund Levy Mismanagement Not a Deterrent PwC
Market experts are not comfortable with the Ksh10,000 maximum fine or a two year imprisonment retained as a penalty for misappropriation of housing levy. The penalties are not deterrent enough, [...]
Kenyans Bought More Apartments than Standalones in Q4 2018 KBA
There was an increase in uptake of apartments compared to stand alone houses in Q4 2018 as Kenyans are looking for cheaper houses to live in, says Kenya Bankers Association [...]7000 Tuskys staff to receive training and accredited certificates from Riara University
Tuskys has signed a Memorandum of Understanding with Riara University to provide internationally and locally recognized, competency-based and modularized courses geared towards professional development of practitioners and stakeholders in the [...]
High Demand on Short Term Bonds Results in Yield Decline
In the first two months of 2019, investors have shown great demand for short term and medium term bonds. January registered the highest rate of oversubscription for the 2-year and [...]CBK Invites Public to Deliberate on the Draft Mortgage Refinance Companies Regulations, 2019
The Central Bank of Kenya has invited Kenyans to deliberate on the Draft Central Bank of Kenya (Mortgage Refinance Companies) Regulations, 2019. The draft regulation has been formulated by CBK [...]Kenya Should Address Governance Principles if Nairobi International Financial Centre is to Take Shape, and Remain Sustainable Ocorian Forum
Kenya will need to address governance principles if Nairobi International Financial Centre is to take shape, and remain sustainable. In an Ocorian Forum that took place in Nairobi recently, business [...]OpEd: East African Real Estate Investors Discover the Working Class
The last 20 years ofreal estate boomin East Africahas changed our buildinglandscape andinventory, as it quite rightly should have done. Our starting pointwas a region thatwas short of every kind [...]Kenya Banking Stocks Up 12.6% in 2019
Most banking stocks at the Nairobi Securities Exchange have gained value since the start of the year at an average of 12.56% according to data from Faida Investment Bank. NIC [...]
