State bets on Sh88b bond swap to lessen debt repayment load
The three Treasury bills and one Treasury bond, which will fall due in 35 days, could be switched for the new infrastructure bond set to mature in six years, amounting to Sh87.7b.
By Dominic Omondi 1 year ago
State bets on Sh88b bond swap to lessen debt repayment load
Companies pump millions into national kitty to fight drought
Over 4.35 million Kenyans in the counties of Garissa, Isiolo, Kajiado, Kitui, Mandera, Marsabit, Laikipia, Samburu, Turkana, and Wajir are affected.
By Dominic Omondi and Phares Mutembei 1 year ago
Companies pump millions into national kitty to fight drought
Equity Bank hits new milestone with Sh1 trillion client deposits
Lender mobilised on average Sh323.3 million every day from its depositors between July and September. Equity has been spreading its wings into the region with its latest entry into DRC.
By Dominic Omondi 1 year ago
Equity Bank hits new milestone with Sh1 trillion client deposits
Co-op Bank's profit jumps 47pc to Sh17bn on increased revenue
Nine-month performance to September exceeds the Sh16.5 billion that the lender made in the whole of last year.
By Dominic Omondi 1 year ago
Co-op Bank's profit jumps 47pc to Sh17bn on increased revenue
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Why MPs want Spire Bank sale deal to Equity cancelled
The transaction has been frozen pending the determination of a case over the fate of Spire's workers at the Labour Relations Court.
By Dominic Omondi 1 year ago
Why MPs want Spire Bank sale deal to Equity cancelled
How Pesapal finally succeeded
When two unlikely students struck a friendship many years ago, little did they know it would birth a multi-million shilling business used by over 30,000 merchants across East Africa.
By Dominic Omondi 1 year ago
How Pesapal finally succeeded
KCB profit jumps to Sh30.6 billion in nine months
As a result of the improved performance, the bank's board has proposed an interim dividend of Sh1 per share.
By Dominic Omondi 1 year ago
KCB profit jumps to Sh30.6 billion in nine months
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The good, the bad and the ugly of Kenya's mega PPP projects
The jury is still out about the viability of the use of private capital to fund grand infrastructure projects, but from a debt perspective, many agree they are a drain on taxpayers.
By Brian Ngugi and Dominic Omondi 1 year ago
The good, the bad and the ugly of Kenya's mega PPP projects
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Kenya borrows Sh1.3b daily as debt stock clocks Sh8.7tr
New CBK data shows the country borrowed Sh122 billion in three months between July and September, translating into Sh1.36 billion per day.
By Dominic Omondi 1 year ago
Kenya borrows Sh1.3b daily as debt stock clocks Sh8.7tr
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Reprieve for defaulters listed at CRB as Ruto delivers on promise
4.2 million Kenyans negatively listed at the Credit Reference Bureaus (CRBs) will soon be removed from the list of defaulters.
By Dominic Omondi 1 year ago
Reprieve for defaulters listed at CRB as Ruto delivers on promise
Links helping small audit firms take on the Big Four
Local companies are reaping the benefits of affiliation with international networking outfits to clinch mega accounting tenders.
By Dominic Omondi 1 year ago
Links helping small audit firms take on the Big Four
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Inside the 90s beer wars that put a dent in late billionaire's empire
Njenga Karume was notably one of the biggest and wealthiest beer distributors in Kenya. In 1998, SAB Miller entered Kenyan market leading to one of the nastiest business rivalries with EABL.
By Dominic Omondi 1 year ago
Inside the 90s beer wars that put a dent in late billionaire's empire
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State falls short of cargo volumes in SGR loan terms
The long-term service agreement between KPA and KRC remains in force as long as the Chinese loan is outstanding. Kenya will pay its last instalment of the loan in 2034.
By Dominic Omondi 1 year ago
State falls short of cargo volumes in SGR loan terms
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Pilots face the sack after failing to strike pay deal with KQ and government
More than 400 KQ pilots under the Kenya Airline Pilots Association (Kalpa) kept off work from Saturday, saying the management had refused to address their grievances.
By Dominic Omondi 1 year ago
Pilots face the sack after failing to strike pay deal with KQ and government
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Grim future for local firms as venture capital gravy train slows
Data from the Central Bank of Kenya (CBK) shows that cash from foreigners flowing into domestic assets has been slowing down
By Brian Ngugi and Dominic Omondi 1 year ago
Grim future for local firms as venture  capital gravy train slows
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SGR loans: Why William Ruto needs to tread carefully
How SGR financing agreement ensures that Kenya will pay every single to China's Exim Bank and China Road and Bridge Corporation (Kenya).
By Dominic Omondi 1 year ago
SGR loans: Why William Ruto needs to tread carefully
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Angry passengers caught up in the middle of pilots' strike
Kilavuka said the airline is looking into providing lodging for stranded passengers. Aviation Workers Union urged members to go on strike over unmet CBA demands.
By Graham Kajilwa and Dominic Omondi 1 year ago
Angry passengers caught up in the middle of pilots' strike
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William Ruto yet to spell out cost-cutting plans even as he raids taxpayers
Ruto directed National Treasury to reduce the country's total spending by Sh300 billion. The country is expected to borrow Sh900bn to finance recurrent expenditure.
By Dominic Omondi 1 year ago
William Ruto yet to spell out cost-cutting plans even as he raids taxpayers
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Murkomen urges pilots to obey court order and call off strike
KQ maintains that the strike notice is illegal as it had already been suspended by the court. Union wants, among other demands, reinstatement of a controversial pre-pandemic provident fund.
By Graham Kajilwa and Dominic Omondi 1 year ago
Murkomen urges pilots to obey court order and call off strike
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Dollar crisis to worsen as foreign investors flee NSE
Traders are shifting their wealth to US for better-yielding assets after Fed raised its benchmark rate. While the increase in rate means borrowers pay more for loans, depositors get more for savings.
By Dominic Omondi 1 year ago
Dollar crisis to worsen as foreign investors flee NSE
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Tale of two economists: Kenya's moneymen set for clash of ideas
Economists agree that there is a need for a symbiotic relationship between CBK and the National Treasury.
By Dominic Omondi 1 year ago
Tale of two economists: Kenya's moneymen set for clash of ideas
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Rhetoric meets reality in Ruto's lofty pledge for robust economy
The IMF, whose delegation is already in the country for the review of Sh270 billion facility, wants the country to live within it's means by collecting more taxes and reducing spending.
By Dominic Omondi 1 year ago
Rhetoric meets reality in Ruto's lofty pledge for robust economy
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Brace for another dose of IMF's bitter pill amid spiraling cost of living crisis
The tightening of liquidity is expected to have a negative effect on access to credit for individuals and companies - ushering in a fresh round of job freezes and even job cuts.
By Brian Ngugi and Dominic Omondi 1 year ago
Brace for another dose of IMF's bitter pill amid spiraling cost of living crisis
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Joseph Kinyua: Man of few, but potent words exit public service
His signature in any circular was feared and revered, even by Cabinet Secretaries. He allegedly refused to grant William Ruto permission to leave the country as a deputy president
By Dominic Omondi 1 year ago
Joseph Kinyua: Man of few, but potent words exit public service
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Safaricom seeks talks with CBK on bank transfer charges
Fees were waived in 2020 to encourage cashless transactions to curb Covid-19. M-Pesa lost Sh6 billion in 2020 financial year as a result of the CBK directive.
By Dominic Omondi 1 year ago
Safaricom seeks talks with CBK on bank transfer charges
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Yatani's advice to Ndung'u as he hands over Treasury post
Ukur Yatani noted that under his leadership, the National Treasury consolidated what used to be the Youth Fund, the Women Fund, Uwezo Fund into one fund called Biashara Fund.
By Dominic Omondi 1 year ago
Yatani's advice to Ndung'u as he hands over Treasury post
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Six per cent NSSF contribution: Why Ruto's plan means more pain for employees
NSSF is supposed to offer workers social protection in their old age.
By Dominic Omondi and Brian Ngugi 1 year ago
Six per cent NSSF contribution: Why Ruto's plan means more pain for employees
Women entrepreneurs to benefit from Sh250b KCB funding
Women entrepreneurs will be able to get non-financial support extended by partner organisations.
By Dominic Omondi 1 year ago
Women entrepreneurs to benefit from Sh250b KCB funding
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Safaricom boss bullish on efforts to reform Fuliza
Fuliza has been a big hit for Safaricom, with the company's latest annual report showing that Sh502.6 billion was disbursed through the facility in the year ended March 2022
By Dominic Omondi 1 year ago
Safaricom boss bullish on efforts to reform Fuliza
Price hikes loom as forex reserves set to hit 11-year low
The International Monetary Fund has projected Kenya's foreign exchange reserves to fall below the four-month import cover for the first time since August 2011.
By Dominic Omondi 1 year ago
Price hikes loom as forex reserves set to hit 11-year low
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Safaricom to convert into a holding firm ahead of split
Safaricom chief executive Peter Ndegwa insisted that M-Pesa - Safaricom's mobile money service - is already regulated by the Central Bank of Kenya (CBK).
By Dominic Omondi 1 year ago
Safaricom to convert into a holding firm ahead of split
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Ndung'u, the economics guru set to actualise hustlers' dreams
Prof Njuguna Ndung'u, who served as CBK Governor from March 2007 to March 2015, will be vetted today by a 15-member committee of the National Assembly.
By Dominic Omondi 1 year ago
Ndung'u, the economics guru set to actualise hustlers' dreams
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How Saccos can aid 'hustlers' foray into the stock market
Financial experts agree that most hustlers have a good opportunity of reaping the benefits of the stock market by pooling their little funds together
By Dominic Omondi 1 year ago
How Saccos can aid 'hustlers' foray into the stock market
Costlier loans for borrowers as banks increase interest rates
CBK recently raised the key lending rate by 75 basis points to tame inflation. NCBA and Standard Chartered banks are some of the latest lenders to adjust interest rates.
By Dominic Omondi 1 year ago
Costlier loans for borrowers as banks increase interest rates
Sharp drop in fertiliser imports to compound Kenya food crisis
Prohibitive costs in the second quarter of this year meant farmers planted without the critical input, signalling reduced yields. Imported chemical fertilisers fell by 48 per cent to 98,915 tonnes.
By Dominic Omondi 1 year ago
Sharp drop in fertiliser imports to compound Kenya food crisis
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Unga bill at Sh65b
Data from the Kenya National Bureau of Statistics (KNBS) shows that Kenya imported 2.5 million 90kg bags of maize in the period between April and June this year
By Dominic Omondi 1 year ago
Unga bill at Sh65b
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Ruto targets billions in bank accounts with dollar bond
President Ruto, who promised to list between six and 10 State-owned enterprises at the NSE, said the stock market had the potential to raise more revenue through debt instruments.
By Dominic Omondi 1 year ago
Ruto targets billions in bank accounts with dollar bond
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Court victories boost KCB's bid to cut soaring bad loans
At 21 per cent, KCB has one of the highest non performing loan ratios, which is the fraction of bad loans to a lender's total loans, among the large banks.
By Dominic Omondi 1 year ago
Court victories boost KCB's bid to cut soaring bad loans
We are here to stay says SBM, denies CBK support
In a statement, SBM Kenya Chief Executive Moezz Mir insisted that the mid-tier lender did not need the support of CBK as it is liquid.
By Dominic Omondi 1 year ago
We are here to stay says SBM, denies CBK support
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Why the push for more cash to NSSF raises eyebrows
To most workers, pumping money into scandal-ridden NSSF is akin to trying to carry water in a broken bucket. For NSSF to get good returns, it has to invest money prudently.
By Dominic Omondi 1 year ago
Why the push for more cash to NSSF raises eyebrows
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