Suppliers to wait longer as county bosses audit Sh153b pending bills
Machakos, Turkana, Trans Nzoia and Kitui governors are the latest county bosses to gazette pending bills verification committees. Teams to comb through records before recommending payment.
By Patrick Alushula 1 year ago
Suppliers to wait longer as county bosses audit Sh153b pending bills
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Microfinance banks sink deeper in the red as defaults hit Sh14.7b
Gross non-performing loans ratio rose to 32.5 per cent in the half-year to June 2022. Digital lenders are taking loans to the doorsteps of borrowers at a much faster pace.
By Patrick Alushula 1 year ago
Microfinance banks sink deeper in the red as defaults hit Sh14.7b
NSSF to appeal court ruling barring rise in deductions to Sh2,000
President William Ruto said on Tuesday that he has agreed with the NSSF management and board to go back to the courts and push for increased compulsory monthly contributions towards retirement.
By Patrick Alushula 1 year ago
NSSF to appeal court ruling barring rise in deductions to Sh2,000
Cost of living rises for seventh straight month
Kenya's cost of living has risen for the seventh straight month to hit 9.2 per cent in September as the cost of food, fuel and electricity squeezed consumers' incomes further.
By Patrick Alushula 1 year ago
Cost of living rises for seventh straight month
William Ruto savings drive could cost State up to Sh46bn annually
Dr Ruto wants his administration to start topping up a shilling for every Sh2 saved by informal workers in their pension schemes.
By Patrick Alushula 1 year ago
William Ruto savings drive could cost State up to Sh46bn annually
'Fuliza economy': Kenyans borrow Sh1.6b daily amid economic woes
Fuliza accounted for 82.5 per cent of the Sh585 billion digital loans at NCBA in the financial year ended December 2021.
By Patrick Alushula 1 year ago
'Fuliza economy': Kenyans borrow Sh1.6b daily amid economic woes
SBM Bank fights back against rival's Sh900m deposits claim
SBM is contesting Afrasia's notice, which comes after the High Court on August 13 ordered SBM to pay the sum, ruling that it was responsible for all liabilities of Chase Bank.
By Patrick Alushula 1 year ago
SBM Bank fights back against rival's Sh900m deposits claim
Meat processor eyes franchises to expand footprint in counties
KMC wants to licence some of its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchise.
By Patrick Alushula 1 year ago
Meat processor eyes franchises to expand footprint in counties
What William Ruto promised Kenyans
Dubbed 'The Plan', Ruto believes Kenya's economic challenges require immediate attention and one of his priorities will be to revive the economy.
By Patrick Vidija, Patrick Alushula 1 year ago
What William Ruto promised Kenyans
Explainer: Supreme Court has received petitions and responses. What follows?
After the August 9 general elections, dissatisfied parties had seven days to file petitions challenging the outcome.
By Patrick Alushula 1 year ago
Explainer: Supreme Court has received petitions and responses. What follows?
Auction fears as bank borrowers default Sh88b in six months
Borrowers have hit banks with additional Sh87.6 billion in loan defaults in the first six months of the year, pointing to a cash crunch that could set up thousands of debtors for property seizures.
By Patrick Alushula 1 year ago
Auction fears as bank borrowers default Sh88b in six months
Government lines up medical cover for retired workers
The State Department for Public Service is seeking a consultant to conduct an actuarial study on what it will take to form the scheme and how much members will contribute.
By Patrick Alushula 1 year ago
Government lines up medical cover for retired workers
What Raila Odinga's team wants Supreme Court to determine
Azimio leader wants the Supreme Court to scrutinise the results and declare him president-elect; should that not pass, he wants the court to order IEBC to preside over a fresh election.
By Patrick Alushula 1 year ago
What Raila Odinga's team wants Supreme Court to determine
What Raila Odinga will have to prove to the Supreme Court judges
Azimio leader wants the Supreme Court to scrutinise the results and declare him president-elect; should that not pass, he wants the court to order IEBC to preside over a fresh election.
By Patrick Alushula 1 year ago
What Raila Odinga will have to prove to the Supreme Court judges
Raila Odinga key prayers at the Supreme Court
Azimio leader wants the Supreme Court to scrutinise the results and declare him president-elect; should that not pass, he wants the court to order IEBC to preside over a fresh election.
By Patrick Alushula 1 year ago
Raila Odinga key prayers at the Supreme Court
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The bitter war to recover Sh594m investment in deal gone sour
STL now adds to the many of Kenya's family-owned businesses that have not seen the best of times after selling out a stake.
By Patrick Alushula 1 year ago
The bitter war to recover Sh594m investment in deal gone sour
Ruto hits out at Raila over plans to return port operations to Mombasa
William Ruto says Raila Odinga has no capacity to return the port operations to Mombasa because he has been taken hostage by his sponsors who took the operations away.
By Patrick Alushula 1 year ago
Ruto hits out at Raila over plans to return port operations to Mombasa
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The making of Sh594m fraud: 'We thought we were buying an elephant'
STL's audited accounts had shown Sh887.45 million in revenues and Sh194.84 million net profit for the financial year ended June 2018.
By Patrick Alushula 1 year ago
The making of Sh594m fraud: 'We thought we were buying an elephant'
Basketball: Wijass, Indasi ready for 3x3 Commonwealth basketball tip off on Friday
Former Kenya Lioness captain Hilda Indasi is confident of doing better at the 2022 Commonwealth Games when they represent the country in the 3x3 basketball that kicks off on Friday.
By Patrick Alushula 1 year ago
Basketball: Wijass, Indasi ready for 3x3 Commonwealth basketball tip off on Friday
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Next president might borrow more despite KRA record tax revenue
President Uhuru Kenyatta fell in love with a rather complex equation: increase tax collections, expand the budget, borrow more and wait for a return in the long run.
By Patrick Alushula 1 year ago
Next president might borrow more despite KRA record tax revenue
Big budgets reigned supreme amid wastage
Projects in roads and rail, and education have been close to the President Uhuru Kenyatta's heart.
By Patrick Alushula 1 year ago
Big budgets reigned supreme amid wastage
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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 year ago
Millionaire investors hit big as NSE sheds Sh653b in six months
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 year 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 year 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 year ago
Dar gas dealer to set up LPG plant in Mombasa
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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, Dominic Omondi 1 year ago
Audit now exposes grand wastage in Sh3.4t 2021 budget
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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 year ago
How Covid shocks hooked more Kenyans on survival loans
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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 1 year ago
State cuts pending bills to suppliers and contractors
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 1 year ago
Number of bank accounts dips for the first time in 25 years
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 1 year ago
Debt swap ups Aga Khan's stake in Serena Hotel
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 1 year 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 1 year 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, Macharia Kamau 1 year ago
M-Pesa profile in Safaricom rises as voice revenue stutters
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 1 year ago
Kenya to import 540,000 tonnes of maize to avert looming shortage
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 1 year ago
CBK fees waiver pushes M-Pesa daily deals with banks to Sh15b
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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 1 year ago
Why Housing Finance is selling head office
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 1 year ago
Safaricom pulls NSE to 20-month low, sheds Sh40b
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 1 year ago
New annual fee to hit small NSE investors where it hurts most
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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 1 year ago
Meet Kenya's Sh30m-a-month bank chief executives
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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 1 year ago
How British shareholders Linkham burnt their fingers at Resolution Health
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