Brian Ngugi - The Standard

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NEWS & CURRENT AFFAIRS

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Brian Ngugi

New Co-op Bank scheme seeks to boost home ownership

Plans are afoot by the government in conjunction with the Nairobi County government and other agencies to set aside 3,000 acres for construction of between 400,000 and 500,000 housing units.

By Brian Ngugi 21 hrs ago

New Co-op Bank scheme seeks to boost home ownership

More pain for borrowers as key lending rate hits five-year high

More pain for borrowers as key lending rate hits five-year high

By Brian Ngugi 1 day ago

New African payment platform to ease dollar crisis, boost trade

New African payment platform to ease dollar crisis, boost trade

By Brian Ngugi 2 days ago

All eyes on CBK amid raging currency and inflation crises

All eyes on CBK amid raging currency and inflation crises

By Brian Ngugi 2 days ago

Treasury to unveil luxury gym and spa amid austerity push

The ministry advertised for a firm to manage the multi-million-shilling facility, contradicting its own guidelines seeking to cut non-essential spending by State agencies, seeking to save Sh300b.

By Brian Ngugi 2 days ago

Treasury to unveil luxury gym and spa amid austerity push

DTB to pay out Sh1.4 billion in dividends after Sh6.79b profit

DTB shareholders are set to take home a total of Sh1.4 billion in dividends, representing a 66 per cent higher payout than last year after the lender posted a 54 per cent jump in net earnings.

By Brian Ngugi 3 days ago

DTB to pay out Sh1.4 billion in dividends after Sh6.79b profit

After Goldenberg, Pattni now linked to Zimbabwe gold smuggling syndicate

He now engages in dubious operations in Dubai, according to an Al Jazeera expose. The mega scandal in Kenya led to charges of corruption against the businessman.

By Brian Ngugi 3 days ago

After Goldenberg, Pattni now linked to Zimbabwe gold smuggling syndicate

Panic dollar buying drives shilling to another record low

Central Bank of Kenya (CBK) data shows the shilling exchanged at an average of 130.9941 on Thursday against the dollar – a new historic low.

By Brian Ngugi 5 days ago

Panic dollar buying drives shilling to another record low

State gets priority in Hilton sale

The State and Israeli national airline El Al Israeli Airlines which co-owns the Hilton Hotel building alongside hotel chain Hilton International enjoy the first right of refusal.

By Brian Ngugi 7 days ago

State gets priority in Hilton sale

Kenya now backs credit rating reforms amid adverse ratings

The global credit rating system is dominated by three major US-based credit agencies - Fitch Ratings, Moody’s Investors Service and Standard & Poor’s.

By Brian Ngugi 8 days ago

Kenya now backs credit rating reforms amid adverse ratings

Foreign investors smile all the way to the bank as lenders issue record dividends

Financial results released by the major lenders so far show that foreign investors are smiling all the way to the bank.

By Brian Ngugi 9 days ago

Foreign investors smile all the way to the bank as lenders issue record dividends

China ends visa curbs easing movement for Kenyan traders

The move now allows in-person deals in China which remains the single leading source of Kenya’s imports.

By Brian Ngugi 12 days ago

China ends visa curbs easing movement for Kenyan traders

Institute seeks to boost investment planning capacity for local insurers

The programme will allow financial advisors to better determine their client’s objectives, risk profile and preferences so as to offer advice and match investment products.

By Brian Ngugi 15 days ago

Institute seeks to boost investment planning capacity for local insurers

Pressure piles on Biden over Trump-era Kenya-US trade deal

Lobbyists want pact initiated by the former administration fast-tracked before the expiry of the African Growth and Opportunity Act.

By Brian Ngugi 15 days ago

Pressure piles on Biden over Trump-era Kenya-US trade deal

KCB investors set for Sh6.4b dividend as profit hits Sh40.8b

KCB Group shareholders are set to take home a total of Sh6.4 billion in dividends after the lender posted a 19.5 per cent jump in net earnings.

By Brian Ngugi 15 days ago

KCB investors set for Sh6.4b dividend as profit hits Sh40.8b

Union steps up bid to raise farmers' representation in Coffee Exchange

A coffee union wants farmers’ representation at the Nairobi Coffee Exchange (NCE) increased to better articulate their issues.

By Brian Ngugi 15 days ago

Union steps up bid to raise farmers' representation in Coffee Exchange

Tapping regional trade pact will drive out economic storm, UN agency tells Kenya

The full implementation of Africa's free trade area will help regional countries including Kenya drive out the current global economic turmoil arising from the Russia-Ukraine crisis.

By Brian Ngugi 15 days ago

Tapping regional trade pact will drive out economic storm, UN agency tells Kenya

Foreign brands strike gold as local rivals flounder

Companies in diverse sectors are bursting the myth Kenya is a difficult market to crack even as their homegrown counterparts issue profit warnings or cut jobs.

By Brian Ngugi 16 days ago

Foreign brands strike gold as local rivals flounder

MPs slam brakes on borrowing plans amid debt ceiling review

Experts warn that breaching the Sh10 trillion debt ceiling puts Kenya’s financial stability at stake.

By Brian Ngugi 16 days ago

MPs slam brakes on borrowing plans amid debt ceiling review

Kenya's forex reserves shrink by Sh51b amid dollar crisis

Foreign exchange reserves are used for State payments such as servicing external debt. The reserves are now below the desired 4.5 months import cover recommended by regional trade block EAC.

By Brian Ngugi 17 days ago

Kenya's forex reserves shrink by Sh51b amid dollar crisis

Brace for more price hikes as shilling hits new record low

CBK data shows the local currency exchanged at an average of Sh128.36 against the US dollar amid a deepening dollar shortage crisis. This is as banks sold the greenback for as much as Sh140 per unit.

By Brian Ngugi 18 days ago

Brace for more price hikes as shilling hits new record low

Retail giant Carrefour risks Sh4b penalty over abuse of buyer power

The Competition Authority of Kenya (CAK) cited a case in which Carrefour is accused of allegedly charging rebates in a buyer abuse case filed by Pwani Oil.

By Brian Ngugi 19 days ago

Retail giant Carrefour risks Sh4b penalty over abuse of buyer power

Kenya Power eyes emergency repair system to stem blackouts

Kenya Power said in internal documents it plans to urgently purchase an emergency restoration system (ERS towers) amid the increasing frequency of nationwide power outages.

By Brian Ngugi 22 days ago

Kenya Power eyes emergency repair system to stem blackouts

Tax cheats: Nowhere to hide as KRA rolls out 24-hour spying device

Tax agency can now collect information in real-time without waiting for taxpayers to file returns. President Ruto banks on the new system to raise revenue for his rosy campaign pledges.

By Brian Ngugi 23 days ago

Tax cheats: Nowhere to hide as KRA rolls out 24-hour spying device

Mass action threat spooks already battered economy

The prospect of mass action has sent jitters through the business community, which worries about the impact on their operations.

By Brian Ngugi 23 days ago

Mass action threat spooks already battered economy

Co-op backs potato project to boost farmers' yields

Four counties targeted under the pilot programme in the first half of 2023 include Nyandarua, Nakuru, Elgeyo Marakwet and Nyeri.

By Brian Ngugi 23 days ago

Co-op backs potato project to boost farmers' yields

Carrefour sales rise to Sh40b on branch expansion, e-commerce

The supermarket operator’s sales growth of eight per cent bucks the trend of poor performance by its foreign peers and Kenyan counterparts.

By Brian Ngugi 23 days ago

Carrefour sales rise to Sh40b on branch expansion, e-commerce

Kenya eyes deeper trade ties with South America

Kenya is engaging countries such as Columbia where exports hit Sh150 million in 2021. Trade opportunities are seen in key economic sectors including agriculture and textiles.

By Brian Ngugi 27 days ago

Kenya eyes deeper trade ties with South America

Somalia lender acquires majority stake in troubled First Community Bank

The rare deal whose financial details were not disclosed comes as a relief for the Kenyan bank, which nearly collapsed earlier this year after suffering a customer run linked to a liquidity crisis.

By Brian Ngugi 27 days ago

Somalia lender acquires majority stake in troubled First Community Bank

State seeks higher debt ceiling to avert crisis

President William Ruto's administration has laid out plans for Parliament to replace the current public debt limit of Sh10 trillion with a debt anchor hinged on the Gross Domestic Product.

By Brian Ngugi 29 days ago

State seeks higher debt ceiling to avert crisis

Product shortages loom as dollar crisis deepens

The continued weakening of the local currency is expected to push up the cost of living, further hurting households already reeling from high fuel and food prices.

By Brian Ngugi 1 month ago

Product shortages loom as dollar crisis deepens

Why Kenyan manufacturers cannot compete with Chinese imports just yet

China enjoys a comparative advantage in low-priced manufactured goods, as its manufacturing and infrastructure sectors are highly integrated into global value chains.

By Brian Ngugi 1 month ago

Why Kenyan manufacturers cannot compete with Chinese imports just yet

Windfall for savers as Saccos give double-digit dividends

A majority of Saccos have made higher cash distributions for the year ending December amid improved profitability, even as the economic road ahead remains jittery.

By Brian Ngugi 1 month ago

Windfall for savers as Saccos give double-digit dividends

Comesa watchdog probes Jumia over consumer breaches

The commission said on Tueday it reached a deal ordering Jumia to end the unfair practices against consumers.

By Brian Ngugi 1 month ago

Comesa watchdog probes Jumia over consumer breaches

Jitters as PSV insurer sinks with Sh1.5b of clients' money

Move leaves a trail of pain, and agony for claimants as the State’s Policyholders Compensation Fund takes over the firm as the statutory manager.

By Brian Ngugi 1 month ago

Jitters as PSV insurer sinks with Sh1.5b of clients' money

Anxiety grips State agencies as Ruto purges Uhuru men

The reorganisation comes as Ruto tightens the leash on the levers of the State since he was sworn into power some 160 days ago. On Friday, the taxman was the latest casualty of the continuing changes.

By Brian Ngugi 1 month ago

Anxiety grips State agencies as Ruto purges Uhuru men

Big Shipping companies probed over price fixing

Three top global major shipping lines operating in Kenya are accused of allegedly colluding to raise freight charges, a practice considered anti-competitive and illegal in a free market.

By Brian Ngugi 1 month ago

Big Shipping companies probed over price fixing

Ecobank Kenya taps Ghanaian banker as new MD

Togo-based Ecobank Transnational Incorporated has appointed Ghanaian career banker, Josephine Anan-Ankomah as Ecobank Kenya’s managing director.

By Brian Ngugi 1 month ago

Ecobank Kenya taps Ghanaian banker as new MD

Safaricom reveals secret "tap and go" plan to cut M-Pesa payment steps

Safaricom says it wants to shorten the steps it takes for M-Pesa customers to pay for goods and services through its till and pay-bill numbers.

By Brian Ngugi 1 month ago

Safaricom reveals secret "tap and go" plan to cut M-Pesa payment steps

Watchdog intensifies probe on Toyota over 'fixing of car prices'

The investigation focuses on distribution agreements that the Japanese multinational has inked with car dealers.

By Brian Ngugi 1 month ago

Watchdog intensifies probe on Toyota over 'fixing of car prices'

Blow for William Ruto's tax plan as KRA misses target by Sh43.2 billion

Taxman collected a total of Sh985 billion between last July and December against a projection of Sh1.02 trillion. This is expected to impact Ruto's delivery on campaign promises.

By Brian Ngugi 1 month ago

Blow for William Ruto's tax plan as KRA misses target by Sh43.2 billion

State drops plan to scrap kerosene, diesel subsidies

Analysts say allowing consumer fuel prices to swing too much wcould damage economic confidence. Treasury has been subsidising diesel and kerosene for four months.

By Brian Ngugi 1 month ago

State drops plan to scrap kerosene, diesel subsidies

Treasury: Pending bills ticking time bomb

Treasury terms mountain of debt owed to suppliers and contractors as a ‘fiscal risk’ that could hamper turnaround as Ruto’s regime plans scrutiny by floating a long term bond to settle the debts.

By Brian Ngugi 1 month ago

Treasury: Pending bills ticking time bomb

An ageing Mark X for Sh1m: Weak shilling turns local used vehicle market upside down

A spot check shows popular models such as Toyota Premio which retailed at Sh1.6 million before March 2020 are now retailing at Sh2.2 million.

By Brian Ngugi 1 month ago

An ageing Mark X for Sh1m: Weak shilling turns local used vehicle market upside down

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