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NEWS & CURRENT AFFAIRS

Digital News

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Brian Ngugi

Job loss fears as Mbadi orders cost-cutting in State agencies

Job loss fears across various state corporations in Kenya are mounting following a new directive from the National Treasury aimed at rationalizing costs and reducing reliance on government funding.

Job loss fears as Mbadi orders cost-cutting in State agencies

Tanzania firm now eyes other sectors after Bamburi acquisition

Tanzania firm now eyes other sectors after Bamburi acquisition

Businesses seek Christmas boom amid the gloom

Businesses seek Christmas boom amid the gloom

Survey: Youth still face financial exclusion despite sector reforms

Survey: Youth still face financial exclusion despite sector reforms

IMF boss calls for reforms to combat graft

The International Monetary Fund (IMF) has asked the Kenya Kwanza administration to address corruption and strengthen public trust in government institutions.

IMF boss calls for reforms to combat graft

Job loss fears as CEOs project gloomy outlook for businesses

Kenyan businesses are bracing for a challenging year ahead, as CEOs project subdued growth and potential job losses, driven by various economic pressures.

Job loss fears as CEOs project gloomy outlook for businesses

Nairobi County eyes Sh500b as it steps up plans for green bond

It has now shifted attention to strengthening its financial data and management systems to ensure transparency and attract potential investors.

Nairobi County eyes Sh500b as it steps up plans for green bond

Nairobi county presses on with green bond issue plans despite delays

It has now shifted attention to strengthening its financial data and management systems to ensure transparency and attract potential investors.

Nairobi county presses on with green bond issue plans despite delays

African Cities urged to strengthen financial planning for sustainable development

An expert meeting in Nairobi has underscored the importance of robust financial planning for African cities, particularly in light of rapid urbanisation and increasing demands on public services.

African Cities urged to strengthen financial planning for sustainable development

World Bank tells Kenya to live within its means amid economic struggles

The World Bank has urged the Kenya Kwanza administration to rein in its public debt and adhere to fiscal discipline to mitigate vulnerabilities and ensure sustainable economic growth.

World Bank tells Kenya to live within its means amid economic struggles

Banks now say loan rates drop will be gradual in row with CBK

Banks said many deposits were locked in at higher rates before the recent cuts, which affects the banks’ ability to lower lending rates immediately.

Banks now say loan rates drop will be gradual in row with CBK

Kenya braces for IMF talks amid debt crisis

IMF Deputy MD Nigel Clarke is in the country for talks that start today. Sources say that IMF officials are poised to impose stringent conditions on any new programme.

Kenya braces for IMF talks amid debt crisis

KRA collects Sh1tr in five months as it races to meet Sh2.7tr target

KRA must collect about Sh242 billion every month for the next seven months to hit the National Treasury’s Sh2.7 trillion target.

KRA collects Sh1tr in five months as it races to meet Sh2.7tr target

New headache for CBK as banks freeze loans and resist lower rates

Lenders are wary of lending amid mounting defaults in a struggling economy despite the regulator lowering the benchmark rate for the third time this year to 11.25pc.

New headache for CBK as banks freeze loans and resist lower rates

Lenders continue to freeze loans as CBK cuts benchmark rate again

The tightening of credit by banks is having a negative impact on the economy, as businesses and households are finding it more difficult to access credit.

Lenders continue to freeze loans as CBK cuts benchmark rate again

Tanzanian firm buys Bamburi cement after tycoon drops out

Tanzania’s Amsons Group has clinched the deal to purchase Bamburi Cement after its rival, Savannah Clinker, backed by Kenyan businessman Benson Ndeta, pulled out of the contest.

Tanzanian firm buys Bamburi cement after tycoon drops out

Co-op Bank wins CIO100 award for innovative direct settlement system

The CIO100 Awards, organised by dx5, recognise organizations and individuals that leverage IT to drive business value and digital transformation across Africa.

Co-op Bank wins CIO100 award for innovative direct settlement system

Centum Group narrows loss on rebound after investment operations

Centum Investment Company has announced a ShS431 million net profit for the six months ending September 2024, reflecting a significant rebound driven by robust investment income

Centum Group narrows loss on rebound after investment operations

AU agency urges Kenya to tap private sector for infrastructure revamp

This call comes amid Kenya’s challenging fiscal environment and an impending debt crisis, as highlighted by IMF emphasising the need for innovative financing solutions.

AU agency urges Kenya to tap private sector for infrastructure revamp

Top banks build Sh230b war chest for bad loans amid economic gloom

CBK data indicates that lending to the private sector has sharply decelerated, with growth plummeting to 1.3 per cent t in August from 3.7 per cent in July.

Top banks build Sh230b war chest for bad loans amid economic gloom

Treasury goes for UAE loan as IMF cautions of debt situation

The Abu Dhabi loan will be disbursed in tranches, ensuring compliance with borrowing limits set under IMF. Kenya is expected to access about Sh91 billion.

Treasury goes for UAE loan as IMF cautions of debt situation

Sustainable finance in focus for Kenyan banks as Co-op Bank feted

The awards aim to highlight financial institutions that demonstrate a commitment to sustainable finance, which positively impacts the financial sector, the economy, and society at large.

Sustainable finance in focus for Kenyan banks as Co-op Bank feted

For men's health, AAR hospital reduces prostate cancer screening fee

AAR Hospital has reduced prostate cancer screening fees to promote health awareness among men during Men’s Health Awareness Month.

For men's health, AAR hospital reduces prostate cancer screening fee

KCB beats Equity in profits race as earnings after tax hit Sh44.5b

Kenya’s largest bank by asset base KCB Group outpaced its biggest rival Equity Bank in the first nine months of the year after its profit after tax jumped by nearly half to Sh44.5 billion.

KCB beats Equity in profits race as earnings after tax hit Sh44.5b

Government back to drawing board after KRA misses tax targets

President William Ruto is facing pressure to reassess his administration’s revenue mobilisation strategies after data from the National Treasury revealed tax collection shortfalls.

Government back to drawing board after KRA misses tax targets

Digital lender Tala surpasses Sh300bn mobile loans as Kenyans borrow more

Kenyans have borrowed over Sh300 billion from mobile lender Tala in the past decade, underlying the role of digital lending platforms in the country.

Digital lender Tala surpasses Sh300bn mobile loans as Kenyans borrow more

Equity Bank walks talk on cutting loan charges as others hesitate

Equity Bank has announced a reduction in interest rates on both new and existing Kenya Shilling-denominated credit facilities, in line with an earlier pledge offering relief for borrowers.

Equity Bank walks talk on cutting loan charges as others hesitate

New team to probe pension billions owed by counties

National Treasury CS John Mbadi has formed a multi-agency task force to find ways of ensuring timely remittance of pensions by county governments to pension schemes.

New team to probe pension billions owed by counties

I am not about to retire, Equity's James Mwangi says

Equity Group Chief Executive James Mwangi has dismissed speculation about his retirement, emphasising his continued commitment to Kenya’s largest bank by customer base.

I am not about to retire, Equity's James Mwangi says

Co-op Bank third-quarter profit jumps to Sh19b on higher income

Earnings boosted by strong performance in core banking activities and subsidiaries. Bank has increased its footprint in Kenya and South Sudan.

Co-op Bank third-quarter profit jumps to Sh19b on higher income

President Ruto seeking consultants for Bottom-up economic agenda

The new group of consultants will be part of a "dream team" of advisers to help the Ruto administration fulfil pledges to grow jobs and improve incomes.

President Ruto seeking consultants for Bottom-up economic agenda

Equity Bank to cut loan rates, urges further CBK action

Equity Group, Kenya's largest lender by customer base, has announced plans to reduce loan interest charges following the Central Bank of Kenya's recent cut in the benchmark rate.

Equity Bank to cut loan rates, urges further CBK action

How financial advisors and firms mislead investors

A growing number of Kenyans are falling victim to deceptive sales tactics employed by financial advisors and firms, Financial Standard has established.

How financial advisors and firms mislead investors

CBK retains top spot in Kenya's wealthiest parastatals list

The Central Bank of Kenya remains the richest parastatal, according to the latest consolidated financial report for state corporations, autonomous government agencies and public funds.

CBK retains top spot in Kenya's wealthiest parastatals list

Oil marketers pushing for price hike

Kenyans could be bracing for a potential increase in fuel prices as major oil marketers push for a review of the country’s fuel pricing formula.

Oil marketers pushing for price hike

The good, bad and ugly of Rutonomics

The initial optimism that accompanied President William Ruto's election has been tempered by the realities of governance, where the complexities of economic management and public expectations collide.

The good, bad and ugly of Rutonomics

Competition watchdog intervenes as Starlink suspends new client sign-ups

Competition Authority of Kenya says customers can lodge complaints over proposed remedial measures. Elon Musk’s firm has been rapidly expanding in Africa with satellite internet.

Competition watchdog intervenes as Starlink suspends new client sign-ups

Kalonzo Musyoka struggles to break free from Raila's political shadow

As the 2027 polls approach, Kalonzo struggles to assert his independence. It is unclear whether he will endorse the Wiper leader for president.

Kalonzo Musyoka struggles to break free from Raila's political shadow

How new tax proposals offer relief to Kenyans

Some key proposals by National Treasury Cabinet Secretary John Mbadi provide major relief for Kenyans in the Tax Laws (Amendment) Bill 2024.

How new tax proposals offer relief to Kenyans

Mudavadi asks Joho to withdraw new maritime regulations

Prime Cabinet Secretary Musalia Mudavadi has called for the withdrawal of recently issued shipping regulations, saying they pose a threat to Kenya's maritime industry and foreign investment climate.

Mudavadi asks Joho to withdraw new maritime regulations

Co-op Bank inks deal with water providers in latest Public-Private Partnership

Director for Corporate and Institutional Banking Lydia Rono said the partnership will unlock over Sh500 million in loan facilities for medium-sized water infrastructure projects.

Co-op Bank inks deal with water providers in latest Public-Private Partnership

How CS Mbadi's proposed new tax measures will directly affect you

A new Bill to be introduced in Parliament seeks to widen the tax base following the withdrawal of the Finance Bill, 2024 that denied the National Treasury Sh349 billion in ordinary revenue.

How CS Mbadi's proposed new tax measures will directly affect you

Treasury CS spells out plans to lay ground for steady economic growth

In the face of mounting economic challenges and waning public patience, Treasury Cabinet Secretary John Mbadi has outlined an ambitious plan aimed at revitalising the economy.

Treasury CS spells out plans to lay ground for steady economic growth

Report shows Africa makes strides toward gender equality, but challenges remain

The Africa Gender Index 2023 Analytical Report shows that women in Africa have improved their position across economic, social, and political spheres, but challenges persist.

Report shows Africa makes strides toward gender equality, but challenges remain

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