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Why banks are in the spot over expensive loans

Banks have always come under fire by both the regulator and customers for being slow to reduce the rates when the CBR is revised downwards, but quick when it is raised.

By 2 days ago

Equity to cool off State securities as half-year profit hits Sh34.6b

Equity Group Holdings has revealed plans to reduce its exposure to government securities by over 80 per cent as it reallocates its balance sheet to reflect the changing economic climate.

By 2 days ago

Regulator begins recovery of missing Sh550m at Afya Sacco

Sasra has moved to recover part of more than Sh500 million, said to have been misappropriated by the management of Afya Sacco Society Ltd.

By 2 days ago

Police: Most road crashes preventable if drivers change behaviour

The police spokesperson pointed out that the vast majority of these accidents are preventable if road users change their behaviour

By 3 days ago

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State moots plan to secure 20pc stake in high-risk industries

The government is considering buying a 20 per cent stake in capital-intensive industries initiated by the private sector in a bid to derisk the entities.

By 3 days ago

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Which way to resolve late funds disbursement to counties?

When it comes to timely disbursement of funds to county governments, accusations never cease to flare up

By 4 days ago

Businesses push for use of VAT refunds to offset tax arrears

Businesses will soon be able to use the tax credits they are owed by the taxman as VAT refunds to offset other tax obligations if a proposal presented to President William Ruto is approved.

By 6 days ago

Kenyan exporters to access China duty-free after deal

Kenyan exporters of agricultural produce will now access the Chinese market duty-free after the two countries concluded bilateral trade talks initiated in April.

By 7 days ago

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Developers, banks eye sweet spot in residential market

Beneath the push to meet the country’s housing deficit of two million units, is an industry that is quite conflicted between the existing demand and what is affordable.

By 7 days ago

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The building collapse that sparked Tanzania's jobs ban

The collapse of a four-storey building in Kariokor Market triggered events that led to a ban on foreigners from engaging in some businesses in the country.

By 8 days ago

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Numbers don't lie as Hustler Fund's viability questioned

Claims by a human rights body that the Hustler Fund is operating at a net loss of 71.5 per cent have raised questions about its business model.

By 8 days ago

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Why US ballooning public debt is a key concern for Kenya

The International Monetary Fund (IMF) recently warned of increased pressure on financial markets for economies such as Kenya.

By 9 days ago

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Why civil society wants Hustler Fund scrapped

KHCR borrows some of its findings from past reports of the Auditor General. The fund was set up in November 2022 with a seed capital of Sh50 billion.

By 9 days ago

Acorn reports Sh457 million half-year profit

This growth is driven by a gain in value of investment properties as a result of rent increases and operational efficiencies.

By 13 days ago

Court gags faction of wrangling Directline shareholders over shares sale

The High Court has issued fresh orders gagging a section of shareholders of Directline Assurance from publishing information related to the business in the latest fiasco.

By 13 days ago

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Why wood prices are set to double in Kenya's construction, furniture sectors

The plan unveiled on Tuesday highlights a shortage in the country's wood supply, with 50 per cent of the country’s needs currently met by imports.

By 14 days ago

Family Bank secures Sh2.6b facility for SME lending

This facility is a 2X-qualified investment, part of a global initiative to drive women’s empowerment in developing economies.

By 14 days ago

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State-funded hustlers pension fund fails to take off

The AG has poked holes into the Hustler Fund pension kitty, Kenya National Entrepreneurs Savings Trust (Knest), detailing how the agency gobbles up Sh130 million annually.

By 15 days ago

Agri firm eyes new emissions standard

Listed agribusiness Sasini Plc targets to be compliant with the FLAG (forest, land, and agriculture) guidelines of reporting emissions by 2026.

By 15 days ago

Airtel sees more room in mobile money as revenue hits Sh184b

Airtel Africa says it sees more room for growth in the mobile money space as the telco reported a revenue growth of 22.4 per cent to Sh184 billion ($1.4 billion) for the quarter ended June 30, 2025.

By 16 days ago

Prices soften as clothes stores record growth

Investor Pulse report by ICEA LION Asset Management indicates a significant surge in the fashion and apparel segment, driven by increased customer numbers rather than price hikes.

By 16 days ago

Embracing sustainability: Does it power or retard industrialisation?

Unlike Kenya and the rest of Africa, which are trying to industrialise at the moment, developed markets did so courtesy of coal

By 16 days ago

StanChart taps institutional clients with digital assets trading service

Standard Chartered Bank (StanChart) has launched a fully integrated digital assets trading service for institutional clients that will allow the sale and purchase of virtual assets such as crypto.

By 16 days ago

Why Posta Kenya's liabilities are nearing Sh10b mark

The Auditor General's report for the 2023/2024 financial year shows liabilities for the cash-strapped Postal Corporation of Kenya stood at Sh9.6 billion as of June 30, 2023.

By 17 days ago

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Satellite towns post slow growth as homeowners are priced out

Land prices in Juja, Kiambu County, grew the fastest in the last 12 months among Nairobi city’s satellite towns, even as the latest HassConsult Property Indices show.

By 21 days ago

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Kenya singled out for levying low property tax

Kenya is among the countries singled out on the continent for levying almost non-existent property taxes when compared to gross domestic product (GDP).

By 21 days ago

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Safaricom eyes 7m subscribers in Ethiopia after growing base to 10m

There was excitement at Safaricom earlier in July when the data showed that there had been 10 million customers active on the Safaricom Ethiopia network over the last 90 days.

By 22 days ago

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New fintech in Kenyan market? Here is where to invest your cash

Fintech firms interested in the Kenyan market have been advised to look for novel areas of investment besides payment solutions, which is said to be a saturated space.

By 22 days ago

KWS moots new products amid park fees hike

KWS plans new products, among them a wildlife translocation experience, in its latest review of access fees for parks and conservancies under its management.

By 22 days ago

Safaricom hits 50 million customers

Kenya’s leading telco Safaricom has surpassed 50 million customers across its mobile network in the country.

By 21 days ago

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Why Mo Ibrahim is against Ruto's push for African credit rating agency

Reforming the existing global financial architecture, the report notes, is much easier than putting up a new institution to guide the credit rating of African economies.

By 23 days ago

KCB Group and Stanbic bank lead region to win 2025 Euromoney excellence awards

KCB Group emerged as the best bank in Kenya in the 2025 Euromoney Awards of Excellence held in London, United Kingdom.

By 22 days ago

Mo Ibrahim warns African States on tax exemptions

Figures from the Global Tax Expenditures data base shares Kenya’s 2023 figures which show the country loses Sh510.6 billion annually from tax expenditures.

By 24 days ago

State defends tax regime amid UK-based investors' pitch for market

PS says 98 per cent of businesses in the country are MSMEs, whose contribution is inadequate to fund the budget.

By 27 days ago

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How developers can leverage the AfCFTA trade deal

The AfCFTA potential, green industrial parks, smart warehousing and public-private partnerships are other opportunities for the continent’s industrial sector.

By 28 days ago

New guidelines to steer State's records digitisation initiative

They will give specifications on how government records should be digitised and the formats to be used.

By 28 days ago

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Power of smartphone: From status symbol to modern employment tool

An expensive smartphone was like car keys – effective for giving directions, demanding better service in offices where you are not known.

By 29 days ago

State agencies pitch nuclear energy to power industrialisation

The government has reaffirmed its commitment to advancing the nuclear energy programme, terming it an enabler of the country’s industrialisation agenda.

By 30 days ago

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Why local firms shy away from innovation

The insurance regulator has noted reluctance among sector players to introduce new products into the market, away from what is anchored in the law, such as third-party motor vehicle covers.

By 30 days ago

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UK simplified trade rules open up opportunities for Kenyan exporters

Kenyan exporters are set to benefit from trade reforms by the United Kingdom as the Keir Starmer led economy seeks to tap into the African Continental Free Trade Area (AfCTA).

By 30 days ago