Safaricom net profit jumps to Sh34.2b on increased lending
The value of loans disbursed on Fuliza overdraft service rose 32 per cent for the half year to Sh419 billion from Sh315 billion last year.
By Frankline Sunday 4 months ago
Safaricom net profit jumps to Sh34.2b on increased lending
Chirchir warns fuel prices could hit Sh300
CS and World Bank attributed the increase to the ongoing Israel-Hamas war. But CBK weekly bulletin indicates global oil prices are declining due to the dissipating impact of the war.
By Brian Ngugi and Frankline Sunday 4 months ago
Chirchir warns fuel prices could hit Sh300
What classification of some minerals as strategic means
The government has declared Cobalt, Tantalum, Lithium, Coltan, Niobium, Copper and other rare earths as strategic minerals amidst an economic boom in the local and global mining sectors.
By Frankline Sunday 4 months ago
What classification of some minerals as strategic means
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Chiloba latest casualty of 'cursed' CA executive seat
Last week, the board announced the resignation of Chiloba who was appointed in October 2021, making him the shortest-serving director general of the CA in over 20 years.
By Frankline Sunday 4 months ago
Chiloba latest casualty of 'cursed' CA executive seat
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How taxpayers are losing out in State agencies' loans
'Project Mawingu' flopped due to embezzlement of the credit line, which was spent on dubious deals that sunk the national airline further into the red.
By Frankline Sunday 4 months ago
How taxpayers are losing out in State agencies' loans
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Hard questions in Telkom Kenya sale
Prof Ndung'u said ICA will inject capital to fund Telkom Kenya's infrastructure and settle some of its outstanding liabilities estimated at over Sh140 billion.
By Frankline Sunday 5 months ago
Hard questions in Telkom Kenya sale
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Flutterwave bets on Kenya with Sh7b war chest as it awaits CBK license
Payments service provider Flutterwave is set to officially launch operations in Kenya in the next few months, pending approval by the Central Bank of Kenya (CBK).
By Frankline Sunday 6 months ago
Flutterwave bets on Kenya with Sh7b war chest as it awaits CBK license
Startup woes expose disruption myth
Dealfish, Kalahari Kenya, Mocality, OLX, Cheki, Jumia and Masoko, among others, have all attempted a crack at the country's e-commerce sector, with varying degrees of success.
By Frankline Sunday 6 months ago
Startup woes expose disruption myth
Telkom Kenya debts threaten to derail strategic deal
Telkom Kenya defaulted on its Sh4 billion payment to ATC Kenya under their Master Lease Agreement for a tower sale and leaseback transaction struck in 2018.
By Frankline Sunday 6 months ago
Telkom Kenya debts threaten to derail strategic deal
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End of an era as Michael Joseph resigns from Safaricom board
Considered by industry insiders as the 'father' of Safaricom, Joseph's exit will likely be felt across the sector.
By Frankline Sunday 7 months ago
End of an era as Michael Joseph resigns from Safaricom board
State unveils Sh80b digital spending plan for technology sector
ICT CS Owalo said the government is on course to digitise 7,000 government services, an extra 2,000 that had earlier been targeted by June this year.
By Frankline Sunday 7 months ago
State unveils Sh80b digital spending plan for technology sector
Alarm as hackers target state offices in brazen cyber attack
A hacking group calling itself Anonymous Sudan, claimed responsibility for the attack that saw the e-citizen platform taken down for several hours.
By Frankline Sunday 7 months ago
Alarm as hackers target state offices in brazen cyber attack
CAK approves Sh700m takeover of Nairobi Women's Hospital
CAK has approved the proposed acquisition of a controlling stake of Nairobi Women's Hospital by the founder Sam Thenya in a deal valued at more than Sh700 million shillings.
By Frankline Sunday 7 months ago
CAK approves Sh700m takeover of Nairobi Women's Hospital
Weakening shilling increases public debt by Sh680 billion
According to the Office of the Controller of Budget, the country's stock of US-denominated debt has led to exposure to currency fluctuation that significantly increases the stock of public debt.
By Frankline Sunday 7 months ago
Weakening shilling increases public debt by Sh680 billion
Ministry ordered to pay Telkom Kenya Sh15b for disputed land
The Ministry of Sports, Culture and Heritage owes Telkom Kenya Sh15 billion as compensation for acquiring a parcel of land in Ngong Road.
By Frankline Sunday 7 months ago
Ministry ordered to pay Telkom Kenya Sh15b for disputed land
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Treasury's overdraft at CBK hits Sh79b as cash crunch bites
Treasury resorted to the facility in April when salaries of State officers delayed amid a debilitating cash crisis. It now means the government has used up 90pc of its limit allowed under the law.
By Frankline Sunday 8 months ago
Treasury's overdraft at CBK hits Sh79b as cash crunch bites
Credit Bank eyes regional expansion after capital boost from private equity fund
Kenyan small lender Credit Bank is looking to expand to other countries in the region after signing a multi-billion-shilling deal with private equity investor Equator Capital Partners.
By Frankline Sunday 8 months ago
Credit Bank eyes regional expansion after capital boost from private equity fund
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SRC review puts Kenya on collision course with IMF, lending partners
In 2021 the IMF approved a Sh234 billion facility to support the government's spending plan. World Bank says public sector employment has risen by 15 per cent.
By Frankline Sunday 8 months ago
SRC review puts Kenya on collision course with IMF, lending partners
Standard Group bets on tech, partnerships to boost revenues
Standard Group's shareholders on Friday gave their nod to the leadership and a five-pronged strategy proposed to explore new revenue streams and reach more audiences across the region.
By Frankline Sunday 8 months ago
Standard Group bets on tech, partnerships to boost revenues
Finance Bill: Kenyans make their voice heard
Parliament's Departmental Committee on Finance and National Planning, indicating that more than 1000 submissions were presented to law makers during the public participation window.
By Frankline Sunday 9 months ago
Finance Bill: Kenyans make their voice heard
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Dead Kenyans leave behind Sh29b shares in listed firms
Safaricom, KCB, EABL and Co-op Bank account for 75 per cent of the value of unclaimed shares. The UFAA is mandated to invest the money in the Fund in Treasury Bills.
By Frankline Sunday 9 months ago
Dead Kenyans leave behind Sh29b shares in listed firms
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Shaky crypto: CBK shelves search for digital currency
According to the CBK, the allure of CBDCs globally is fading, and other central banks that were first to roll out digital currencies have faced challenges that have hampered implementation.
By Frankline Sunday 9 months ago
Shaky crypto: CBK shelves search for digital currency
Fact check: Advance tax to be paid for commercial vehicles
The advance tax is exempted to tractors or trailers used for agricultural purposes. Private cars are not included in new rate unless being used for business.
By Frankline Sunday 9 months ago
Fact check: Advance tax to be paid for commercial vehicles
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Hacking claims put Kenya at the centre of US-China cold war
A report earlier this week claimed that a Chinese-sponsored hacking group infiltrated and spied on Kenyan government systems, including the NIS and the Office of the President.
By Frankline Sunday 9 months ago
Hacking claims put Kenya at the centre of US-China cold war
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'How China hacked NIS, the presidency'
Hackers targeted NIS, Office of the Presidency, National Treasury and Ministry of Foreign affairs for years in a bid to spy on the country's debt policy.
By Frankline Sunday and Agencies 9 months ago
'How China hacked NIS, the presidency'
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Telcos' one till deal struggles to break M-Pesa hold on payments
The value of transactions through the merchant interpretability platform stood at Sh1 billion recorded from 69,400 merchants for the year ended March 2023.
By Frankline Sunday 9 months ago
Telcos' one till deal struggles to break M-Pesa hold on payments
Increased competition cuts KCB M-Pesa revenue by half
The results come on the back of increased pressure from other digital lending products that have eaten into the average loan amounts borrowed through the facility.
By Frankline Sunday 10 months ago
Increased competition cuts KCB M-Pesa revenue by half
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Are state jobs really skewed to favour country's major tribes?
President Ruto's appointments as of May show Kalenjin and Kikuyu communities tie at 21 percent followed by Somalis, Luhyas and Luo at 12 percent, 10 percent and eight percent respectively.
By Frankline Sunday 10 months ago
Are state jobs really skewed to favour country's major tribes?
Safaricom eyes counties, universities in hunt for M-Pesa revenue
Safaricom says all the 47 counties will be gradually onboarded on the platform in the coming months.
By Frankline Sunday 10 months ago
Safaricom eyes counties, universities in hunt for M-Pesa revenue
NSE investors lose Sh200 billion in three months
Market capitalisation at the NSE stood at Sh1.7 trillion as at the end of March, falling Sh205 billion from Sh1.9 trillion recorded in January this year.
By Frankline Sunday 10 months ago
NSE investors lose Sh200 billion in three months
Safaricom top of the pile of Kenya's most valuable brands
Leading telecommunications service provider Safaricom has been named the best brand in Kenya out of 25 companies listed on the Nairobi Securities Exchange (NSE).
By Frankline Sunday 11 months ago
Safaricom top of the pile of Kenya's most valuable brands
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State in a fix on lowering cost of living amid effort to reduce debt
The shortfall of more than Sh289 billion in the projected expenditure has meant an unprecedented cash crunch at both the national and county levels of government.
By Frankline Sunday 11 months ago
State in a fix on lowering cost of living amid effort to reduce debt
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Kiambu, Mombasa reap big as startups look beyond Nairobi
Kiambu and Mombasa counties are the most popular destinations for startups eyeing operations outside Nairobi as more entrepreneurs shift their base from the capital.
By Frankline Sunday 11 months ago
Kiambu, Mombasa reap big as startups look beyond Nairobi
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Telkom Kenya owes billions to regulator, Safaricom
Telkom Kenya owes the regulator Sh7.2 billion that stands unpaid today. This has since risen to Sh9.4 billion including to other service providers, American Towers and Safaricom.
By Frankline Sunday 11 months ago
Telkom Kenya owes billions to regulator, Safaricom
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Taxpayers to fund Sh3.2b send-off perks for lawmakers
If approved, taxpayers will be on the hook for at least Sh3.2 billion in gratuity to the 416 MPs, senators and women representatives, who served in the 12th Parliamen.
By Frankline Sunday 11 months ago
Taxpayers to fund Sh3.2b send-off perks for lawmakers
Konza eyes new deals to jumpstart smart city
The foundation work for the technopolis has been completed and the next phase of growth will leverage public-private partnerships and development partners.
By Frankline Sunday 11 months ago
Konza eyes new deals to jumpstart smart city
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Crisis of dollar shortage and what it means
Foreign exchange reserves are assets denominated in a foreign currency held central bank. Foreign reserves can include cash deposits held in foreign currencies, bonds, treasury bills
By Frankline Sunday 1 year ago
Crisis of dollar shortage and what it means
Vehicle importers feel the pinch of weakening shilling
The fall of the Kenyan shilling against the US dollar has increased the landed cost of vehicles imported into Kenya.
By Frankline Sunday 1 year ago
Vehicle importers feel the pinch of weakening shilling
New central bank deputy governor takes office
Dr Susan Koech, who was recently appointed by President William Ruto and vetted by Parliament, is to serve for a renewable four-year term.
By Frankline Sunday 1 year ago
New central bank deputy governor takes office
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Opacity in budget making: How MPs fuel Executive's abuse of Article 223
Controller of Budget (CoB) Margaret Nyakang'o said she was pressured by Yatani to approve up to Sh15 billion in requests days before last year's General Election.
By Frankline Sunday 1 year ago
Opacity in budget making: How MPs fuel Executive's abuse of Article 223
Inside Kalonzo's charm offensive in Mt Kenya
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