Dominic Omondi - The Standard

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NEWS & CURRENT AFFAIRS

Digital News

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Dominic Omondi

Report: Kenya's tax incentives boon for the rich as poor suffer

Oxfam and Tax Justice Network say the State lost Sh259.5 billion in generous tax holidays to multinationals last year.

By Dominic Omondi 2 years ago

Report: Kenya's tax incentives boon for the rich as poor suffer

Drought response team raises Sh542m for hungry Kenyans

Drought response team raises Sh542m for hungry Kenyans

By Dominic Omondi 2 years ago

Civil society lobbies IMF to act tough on Kenya's graft cases

Civil society lobbies IMF to act tough on Kenya's graft cases

By Dominic Omondi 2 years ago

Equity Bank rakes in Sh34.4b profit in nine months

Equity Bank rakes in Sh34.4b profit in nine months

By Dominic Omondi 2 years ago

State bets on Sh88b bond swap to lessen debt repayment load

The three Treasury bills and one Treasury bond, which will fall due in 35 days, could be switched for the new infrastructure bond set to mature in six years, amounting to Sh87.7b.

By Dominic Omondi 2 years ago

State bets on Sh88b bond swap to lessen debt repayment load

Companies pump millions into national kitty to fight drought

Over 4.35 million Kenyans in the counties of Garissa, Isiolo, Kajiado, Kitui, Mandera, Marsabit, Laikipia, Samburu, Turkana, and Wajir are affected.

By Dominic Omondi and Phares Mutembei 2 years ago

Companies pump millions into national kitty to fight drought

Equity Bank hits new milestone with Sh1 trillion client deposits

Lender mobilised on average Sh323.3 million every day from its depositors between July and September. Equity has been spreading its wings into the region with its latest entry into DRC.

By Dominic Omondi 2 years ago

Equity Bank hits new milestone with Sh1 trillion client deposits

Co-op Bank's profit jumps 47pc to Sh17bn on increased revenue

Nine-month performance to September exceeds the Sh16.5 billion that the lender made in the whole of last year.

By Dominic Omondi 2 years ago

Co-op Bank's profit jumps 47pc to Sh17bn on increased revenue

Why MPs want Spire Bank sale deal to Equity cancelled

The transaction has been frozen pending the determination of a case over the fate of Spire's workers at the Labour Relations Court.

By Dominic Omondi 2 years ago

Why MPs want Spire Bank sale deal to Equity cancelled

How Pesapal finally succeeded

When two unlikely students struck a friendship many years ago, little did they know it would birth a multi-million shilling business used by over 30,000 merchants across East Africa.

By Dominic Omondi 2 years ago

How Pesapal finally succeeded

KCB profit jumps to Sh30.6 billion in nine months

As a result of the improved performance, the bank's board has proposed an interim dividend of Sh1 per share.

By Dominic Omondi 2 years ago

KCB profit jumps to Sh30.6 billion in nine months

The good, the bad and the ugly of Kenya's mega PPP projects

The jury is still out about the viability of the use of private capital to fund grand infrastructure projects, but from a debt perspective, many agree they are a drain on taxpayers.

By Brian Ngugi and Dominic Omondi 2 years ago

The good, the bad and the ugly of Kenya's mega PPP projects

Kenya borrows Sh1.3b daily as debt stock clocks Sh8.7tr

New CBK data shows the country borrowed Sh122 billion in three months between July and September, translating into Sh1.36 billion per day.

By Dominic Omondi 2 years ago

Kenya borrows Sh1.3b daily as debt stock clocks Sh8.7tr

Reprieve for defaulters listed at CRB as Ruto delivers on promise

4.2 million Kenyans negatively listed at the Credit Reference Bureaus (CRBs) will soon be removed from the list of defaulters.

By Dominic Omondi 2 years ago

Reprieve for defaulters listed at CRB as Ruto delivers on promise

Links helping small audit firms take on the Big Four

Local companies are reaping the benefits of affiliation with international networking outfits to clinch mega accounting tenders.

By Dominic Omondi 2 years ago

Links helping small audit firms take on the Big Four

Inside the 90s beer wars that put a dent in late billionaire's empire

Njenga Karume was notably one of the biggest and wealthiest beer distributors in Kenya. In 1998, SAB Miller entered Kenyan market leading to one of the nastiest business rivalries with EABL.

By Dominic Omondi 2 years ago

Inside the 90s beer wars that put a dent in late billionaire's empire

State falls short of cargo volumes in SGR loan terms

The long-term service agreement between KPA and KRC remains in force as long as the Chinese loan is outstanding. Kenya will pay its last instalment of the loan in 2034.

By Dominic Omondi 2 years ago

State falls short of cargo volumes in SGR loan terms

Pilots face the sack after failing to strike pay deal with KQ and government

More than 400 KQ pilots under the Kenya Airline Pilots Association (Kalpa) kept off work from Saturday, saying the management had refused to address their grievances.

By Dominic Omondi 2 years ago

Pilots face the sack after failing to strike pay deal with KQ and government

Grim future for local firms as venture capital gravy train slows

Data from the Central Bank of Kenya (CBK) shows that cash from foreigners flowing into domestic assets has been slowing down

By Brian Ngugi and Dominic Omondi 2 years ago

Grim future for local firms as venture capital gravy train slows

SGR loans: Why William Ruto needs to tread carefully

How SGR financing agreement ensures that Kenya will pay every single to China's Exim Bank and China Road and Bridge Corporation (Kenya).

By Dominic Omondi 2 years ago

SGR loans: Why William Ruto needs to tread carefully

Angry passengers caught up in the middle of pilots' strike

Kilavuka said the airline is looking into providing lodging for stranded passengers. Aviation Workers Union urged members to go on strike over unmet CBA demands.

By Graham Kajilwa and Dominic Omondi 2 years ago

Angry passengers caught up in the middle of pilots' strike

William Ruto yet to spell out cost-cutting plans even as he raids taxpayers

Ruto directed National Treasury to reduce the country's total spending by Sh300 billion. The country is expected to borrow Sh900bn to finance recurrent expenditure.

By Dominic Omondi 2 years ago

William Ruto yet to spell out cost-cutting plans even as he raids taxpayers

Murkomen urges pilots to obey court order and call off strike

KQ maintains that the strike notice is illegal as it had already been suspended by the court. Union wants, among other demands, reinstatement of a controversial pre-pandemic provident fund.

By Graham Kajilwa and Dominic Omondi 2 years ago

Murkomen urges pilots to obey court order and call off strike

Dollar crisis to worsen as foreign investors flee NSE

Traders are shifting their wealth to US for better-yielding assets after Fed raised its benchmark rate. While the increase in rate means borrowers pay more for loans, depositors get more for savings.

By Dominic Omondi 2 years ago

Dollar crisis to worsen as foreign investors flee NSE

Tale of two economists: Kenya's moneymen set for clash of ideas

Economists agree that there is a need for a symbiotic relationship between CBK and the National Treasury.

By Dominic Omondi 2 years ago

Tale of two economists: Kenya's moneymen set for clash of ideas

Rhetoric meets reality in Ruto's lofty pledge for robust economy

The IMF, whose delegation is already in the country for the review of Sh270 billion facility, wants the country to live within it's means by collecting more taxes and reducing spending.

By Dominic Omondi 2 years ago

Rhetoric meets reality in Ruto's lofty pledge for robust economy

Brace for another dose of IMF's bitter pill amid spiraling cost of living crisis

The tightening of liquidity is expected to have a negative effect on access to credit for individuals and companies - ushering in a fresh round of job freezes and even job cuts.

By Brian Ngugi and Dominic Omondi 2 years ago

Brace for another dose of IMF's bitter pill amid spiraling cost of living crisis

Joseph Kinyua: Man of few, but potent words exit public service

His signature in any circular was feared and revered, even by Cabinet Secretaries. He allegedly refused to grant William Ruto permission to leave the country as a deputy president

By Dominic Omondi 2 years ago

Joseph Kinyua: Man of few, but potent words exit public service

Safaricom seeks talks with CBK on bank transfer charges

Fees were waived in 2020 to encourage cashless transactions to curb Covid-19. M-Pesa lost Sh6 billion in 2020 financial year as a result of the CBK directive.

By Dominic Omondi 2 years ago

Safaricom seeks talks with CBK on bank transfer charges

Yatani's advice to Ndung'u as he hands over Treasury post

Ukur Yatani noted that under his leadership, the National Treasury consolidated what used to be the Youth Fund, the Women Fund, Uwezo Fund into one fund called Biashara Fund.

By Dominic Omondi 2 years ago

Yatani's advice to Ndung'u as he hands over Treasury post

Six per cent NSSF contribution: Why Ruto's plan means more pain for employees

NSSF is supposed to offer workers social protection in their old age.

By Dominic Omondi and Brian Ngugi 2 years ago

Six per cent NSSF contribution: Why Ruto's plan means more pain for employees

Women entrepreneurs to benefit from Sh250b KCB funding

Women entrepreneurs will be able to get non-financial support extended by partner organisations.

By Dominic Omondi 2 years ago

Women entrepreneurs to benefit from Sh250b KCB funding

Safaricom boss bullish on efforts to reform Fuliza

Fuliza has been a big hit for Safaricom, with the company's latest annual report showing that Sh502.6 billion was disbursed through the facility in the year ended March 2022

By Dominic Omondi 2 years ago

Safaricom boss bullish on efforts to reform Fuliza

Price hikes loom as forex reserves set to hit 11-year low

The International Monetary Fund has projected Kenya's foreign exchange reserves to fall below the four-month import cover for the first time since August 2011.

By Dominic Omondi 2 years ago

Price hikes loom as forex reserves set to hit 11-year low

Safaricom to convert into a holding firm ahead of split

Safaricom chief executive Peter Ndegwa insisted that M-Pesa - Safaricom's mobile money service - is already regulated by the Central Bank of Kenya (CBK).

By Dominic Omondi 2 years ago

Safaricom to convert into a holding firm ahead of split

Ndung'u, the economics guru set to actualise hustlers' dreams

Prof Njuguna Ndung'u, who served as CBK Governor from March 2007 to March 2015, will be vetted today by a 15-member committee of the National Assembly.

By Dominic Omondi 2 years ago

Ndung'u, the economics guru set to actualise hustlers' dreams

How Saccos can aid 'hustlers' foray into the stock market

Financial experts agree that most hustlers have a good opportunity of reaping the benefits of the stock market by pooling their little funds together

By Dominic Omondi 2 years ago

How Saccos can aid 'hustlers' foray into the stock market

Costlier loans for borrowers as banks increase interest rates

CBK recently raised the key lending rate by 75 basis points to tame inflation. NCBA and Standard Chartered banks are some of the latest lenders to adjust interest rates.

By Dominic Omondi 2 years ago

Costlier loans for borrowers as banks increase interest rates

Sharp drop in fertiliser imports to compound Kenya food crisis

Prohibitive costs in the second quarter of this year meant farmers planted without the critical input, signalling reduced yields. Imported chemical fertilisers fell by 48 per cent to 98,915 tonnes.

By Dominic Omondi 2 years ago

Sharp drop in fertiliser imports to compound Kenya food crisis

Unga bill at Sh65b

Data from the Kenya National Bureau of Statistics (KNBS) shows that Kenya imported 2.5 million 90kg bags of maize in the period between April and June this year

By Dominic Omondi 2 years ago

Unga bill at Sh65b

Ruto targets billions in bank accounts with dollar bond

President Ruto, who promised to list between six and 10 State-owned enterprises at the NSE, said the stock market had the potential to raise more revenue through debt instruments.

By Dominic Omondi 2 years ago

Ruto targets billions in bank accounts with dollar bond

Court victories boost KCB's bid to cut soaring bad loans

At 21 per cent, KCB has one of the highest non performing loan ratios, which is the fraction of bad loans to a lender's total loans, among the large banks.

By Dominic Omondi 2 years ago

Court victories boost KCB's bid to cut soaring bad loans

We are here to stay says SBM, denies CBK support

In a statement, SBM Kenya Chief Executive Moezz Mir insisted that the mid-tier lender did not need the support of CBK as it is liquid.

By Dominic Omondi 2 years ago

We are here to stay says SBM, denies CBK support

Why the push for more cash to NSSF raises eyebrows

To most workers, pumping money into scandal-ridden NSSF is akin to trying to carry water in a broken bucket. For NSSF to get good returns, it has to invest money prudently.

By Dominic Omondi 2 years ago

Why the push for more cash to NSSF raises eyebrows

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