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Millionaire investors hit big as NSE sheds Sh653b in six months
The Nairobi Securities Exchange (NSE) closed last Thursday with the combined value of all stocks at Sh1.939 trillion compared with Sh2.592 trillion at the beginning of the year.
By Patrick Alushula 1 month ago
Millionaire investors hit big as NSE sheds Sh653b in six months
The Plan: William Ruto unveils Kenya Kwanza manifesto
Dubbed ‘The Plan’, Ruto said Kenya’s economic challenges require immediate attention and one of his priorities as President is to revive the economy in a post-Covid era.
By Patrick Vidija 1 month ago
The Plan: William Ruto unveils Kenya Kwanza manifesto
Burdened bank customers add Sh56b loan defaults in 4 months
CBK data shows that non-performing loans hit Sh482.6 billion in April. Increase came even as lenders started warming up to the private sector.
By Patrick Alushula 1 month ago
Burdened bank customers add Sh56b loan defaults in 4 months
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Tax wars: Is this the end of Keroche's nine lives?
The tax battle between Keroche and Kenya Revenue Authority (KRA) has been brewing since 1998, barely a year after the firm was founded in Naivasha as a fortified fruit wines brewery.
By Patrick Alushula 1 month ago
Tax wars: Is this the end of Keroche's nine lives?
Dar gas dealer to set up LPG plant in Mombasa
The firm has sent an environmental impact assessment study report to Nema.
By Patrick Alushula 1 month ago
Dar gas dealer to set up LPG plant in Mombasa
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How Covid shocks hooked more Kenyans on survival loans
Thousands of Kenyans are driving to work but in cars financed by loans and sometimes fueled by a mobile overdraft facility, Fuliza.
By Patrick Alushula 1 month ago
How Covid shocks hooked more Kenyans on survival loans
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Audit now exposes grand wastage in Sh3.4t 2021 budget
Auditor General flags ministries and State agencies that have mismanaged public resources. Amid the rot, suppliers and contractors are owed billions of shillings in pending bills.
By Patrick Alushula 1 month ago
Audit now exposes grand wastage in Sh3.4t 2021 budget
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State cuts pending bills to suppliers and contractors
Pending bills stood at Sh307.8 billion in March last year and have been rising over time to hit Sh423.2 billion in September, before swelling to Sh467.7 billion in December.
By Patrick Alushula 2 months ago
State cuts pending bills to suppliers and contractors
Debt swap ups Aga Khan's stake in Serena Hotel
Akfed announced yesterday it has agreed to convert $14.5 million (Sh1.7 billion) loan owed by TPS Eastern Africa into equity.
By Patrick Alushula 2 months ago
Debt swap ups Aga Khan's stake in Serena Hotel
Number of bank accounts dips for the first time in 25 years
Many banks declare an account dormant if there is no owner-initiated activity after 12 months.
By Patrick Alushula 2 months ago
Number of bank accounts dips for the first time in 25 years
Nigerian top lender buys out Centum from Sidian for Sh4.3b
The deal will see Access Bank take over the 83.4 per cent that has been in the hands of Centum and its subsidiary, Bakki Holdico Ltd.
By Patrick Alushula 2 months ago
Nigerian top lender buys out Centum from Sidian for Sh4.3b
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The big dividend drought at the Nairobi Securities Exchange
The triggers of the downturn of the once-reliable dividend payers vary. But the pain is the same: no dividends for shareholders.
By Patrick Alushula 2 months ago
The big dividend drought at the Nairobi Securities Exchange
M-Pesa profile in Safaricom rises as voice revenue stutters
M-Pesa accounts for 38.3 per cent of Safaricom service revenue and dominant in payments eco-system. On the other hand, revenues from voice and messaging have been declining.
By Patrick Alushula 2 months ago
M-Pesa profile in Safaricom rises as voice revenue stutters
CBK fees waiver pushes M-Pesa daily deals with banks to Sh15b
The value of transactions between M-Pesa and banks has hit Sh5.58 trillion, thanks to fees waiver, even as Safaricom and lenders rue lost revenue.
By Patrick Alushula 2 months ago
CBK fees waiver pushes M-Pesa daily deals with banks to Sh15b
Kenya to import 540,000 tonnes of maize to avert looming shortage
Kenya opens a three-month window allowing licensed millers to import 540,000 tonnes of white maize to avert shortage; Treasury CS Yatani waives import duty.
By Patrick Alushula 2 months ago
Kenya to import 540,000 tonnes of maize to avert looming shortage
Safaricom pulls NSE to 20-month low, sheds Sh40b
Safaricom share yesterday shed Sh40 billion to pull the combined wealth of investors at the Nairobi Securities Exchange (NSE) to levels last seen 20 months ago.
By Patrick Alushula 2 months ago
Safaricom pulls NSE to 20-month low, sheds Sh40b
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Why Housing Finance is selling head office
Mortgage financier HF Group wants to sell its head office building in Nairobi, convert some loans to equity and pursue defaulters in a bid to boost its capital levels.
By Patrick Alushula 2 months ago
Why Housing Finance is selling head office
New annual fee to hit small NSE investors where it hurts most
Small investors at the Nairobi Securities Exchange (NSE) have been spooked by the introduction of an annual Sh1,200 account maintenance fee.
By Patrick Alushula 2 months ago
New annual fee to hit small NSE investors where it hurts most
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How British shareholders Linkham burnt their fingers at Resolution Health
Resolution shareholders Linkham Services Ltd co-director Michael Cranfield said alongside his partner, Dominic Persad, they faced resistance in implementing the key in saving the firm.
By Patrick Alushula 2 months ago
How British shareholders Linkham burnt their fingers at Resolution Health
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Skilled but no papers? You are hired
Millions of skilled people locked out of the job market or underpaid for lack of certificates are set for a lifeline as Kenya rolls out a process to identify, assess and certify skills.
By Patrick Alushula 2 months ago
Skilled but no papers? You are hired
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Meet Kenya's Sh30m-a-month bank chief executives
Top bank executives earn jaw-dropping amounts after exceeding targets as lenders recover from the effects of the pandemic.
By Patrick Alushula 2 months ago
Meet Kenya's Sh30m-a-month bank chief executives
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Shocker for those who fled Nairobi's high cost of living
Nairobi’s population growth has slowed to 3.5 per cent between 2009 and 2019. Ongata Rongai has highest concentration of graduates among major urban centres.
By Patrick Alushula 2 months ago
Shocker for those who fled Nairobi's high cost of living
Saccos to share Sh3.8b Co-op Bank dividend cheque
Saccos are in line for a Sh3.79 billion dividend cheque from the Cooperative Bank of Kenya, pushing their cumulative receipts to Sh25.3 billion in seven years.
By Patrick Alushula 2 months ago
Saccos to share Sh3.8b Co-op Bank dividend cheque
Equity's quarter one net profit on income climbs 36pc to Sh11.8b
Equity Group’s net profit for the first quarter of the year has risen by 36 per cent to Sh11.86 billion on increased interest and non-interest income.
By Patrick Alushula 2 months ago
Equity's quarter one net profit on income climbs 36pc to Sh11.8b
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Sh9.7b borrowed weekly on Safaricom's Fuliza
Kenyans borrowed Sh9.67 billion weekly via Safaricom’s overdraft service Fuliza in the year ended March as an additional one million customers joined.
By Patrick Alushula 2 months ago
Sh9.7b borrowed weekly on Safaricom's Fuliza
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Kenyans gamble Sh463m daily through M-Pesa in sports betting craze
Kenyan gamblers placed bets worth Sh463 million daily through Safaricom’s M-Pesa platform in the financial year ended March 2022.
By Patrick Alushula 2 months ago
Kenyans gamble Sh463m daily through M-Pesa in sports betting craze
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Towns overtake Nairobi in cost of living amid population rise
Towns outside Nairobi have registered higher inflation rates than the capital for the first time in close to a decade.
By Patrick Alushula 3 months ago
Towns overtake Nairobi in cost of living amid population rise
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KRA eyes forensic lab to recover erased files and catch tax cheats
KRA plans to set up a forensic lab to mine all data including hidden accounts and deleted files from taxpayers’ computers to uncover tax and financial frauds.
By Patrick Alushula 3 months ago
KRA eyes forensic lab to recover erased files and catch tax cheats
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Once ailing banks get new lease of life from the industry's 'big boys'
Lenders, including Jamii Bora Bank, National Bank of Kenya (NBK), Transnational Bank (now Access Bank) and Mayfair Bank, which were struggling to keep their heads above the water.
By Patrick Alushula 3 months ago
Once ailing banks get new lease of life from the industry's 'big boys'
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Jobs that pay highest and lowest in Kenya
Sectors in private firms where monthly pay is below average include manufacturing. The survey reveals the huge pay gaps that exist between public and private sector.
By Patrick Alushula 3 months ago
Jobs that pay highest and lowest in Kenya
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Inflation hands workers worst pay-cut in 10 years
The sustained rise in the prices of goods and services has handed workers the second straight cut in the purchasing power, with last year being the worst in a decade.
By Patrick Alushula 3 months ago
Inflation hands workers worst pay-cut in 10 years
Economy adds a million jobs but firms fail to recover
The economy last year created an additional 926,100 jobs mainly from the informal sector as the number of salaried jobs failed to recover to pre-Covid-19 levels.
By Patrick Alushula 3 months ago
Economy adds a million jobs but firms fail to recover
Deloitte and PwC earn Sh130m for Kenya Power forensic audit
Kenya Power has spent over Sh130.81 million in efforts to steady the company’s performance.
By Patrick Alushula 3 months ago
Deloitte and PwC earn Sh130m for Kenya Power forensic audit
Pressure for Kenya Power as electricity output hits record high
Kenya Power faces an increased burden of paying for idle electricity after power generators raised production to the highest level in a single month.
By Patrick Alushula 3 months ago
Pressure for Kenya Power as electricity output hits record high
NSE at 15-month low as trading resumes after the long holiday
The NSE resumes trading this morning counting on Safaricom and bank stocks to pull it from the 15-month low it registered before the long break.
By Patrick Alushula 3 months ago
NSE at 15-month low as trading resumes after the long holiday
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Sh1,000 notes in circulation rise by Sh21 billion ahead of elections
Jump is the largest ever to be seen year-on-year and dwarfs the previous record of 2007, another election year.
By Patrick Alushula 3 months ago
Sh1,000 notes in circulation rise by Sh21 billion ahead of elections
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What Uhuru's 12pc pay hike gift means for the low-wage workers
Uhuru justifies the wage hike by pointing to the overall surge in the cost of living. The minimum wage varies by sector and location, covering some 45 separate categories.
By Patrick Alushula 3 months ago
What Uhuru's 12pc pay hike gift means for the low-wage workers
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Stagnant salaries and food loans make for gloomy Labour Day
Central Bank survey shows livelihoods of 73.6 per cent of households worsened in 2021. The situation pushed households skip meals, sell their assets and forgo medical care.
By Patrick Alushula 3 months ago
Stagnant salaries and food loans make for gloomy Labour Day
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What it will cost you to live in Kenya's and Africa's tallest apartment skyscraper
The skyscrapers dotting the skyline of Nairobi’s Upper Hill explain the country’s growing niche for best architectural designs.
By Patrick Alushula 3 months ago
What it will cost you to live in Kenya's and Africa's tallest apartment skyscraper
GA Insurance raises dividends as it nets Sh15 billion profit
GA Insurance’s net profit last year grew by 49 per cent to Sh1.46 billion, helped by increased gross written premiums.
By Patrick Alushula 3 months ago
GA Insurance raises dividends as it nets Sh15 billion profit
William Ruto allies carry the day in Meru
Central
By Phares Mutembei
22 mins ago
Aden Duale defies elders, retains Garissa seat
North Eastern
By Abdimalik Hajir
1 hr ago
Disputes rock tallying centres in Nairobi
Nairobi
By Standard Team
1 hr ago
Protests in Bomet as CCM disputes governorship results
Rift Valley
By Caroline Chebet and Gilbert Kimutai
2 hrs ago
How Junet's wife campaigned for MP to his victory
Nyanza
By Anne Atieno
2 hrs ago