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NEWS & CURRENT AFFAIRS

Digital News

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Patrick Alushula

Savannah Cement ups rivalry with Sh37b Kitui clinker plant

Savannah's project, to be located in Mwingi North, will begin immediately and take approximately two years to complete

By Patrick Alushula 1 year ago

Savannah Cement ups rivalry with Sh37b Kitui clinker plant

How CRB works

By Patrick Alushula 2 years ago

Kenya risks losing investors amid dollar shortage and weak shilling

Kenya risks losing investors amid dollar shortage and weak shilling

By Patrick Alushula 2 years ago

William Ruto loads Hustler burden on salaried workers

William Ruto loads Hustler burden on salaried workers

By Patrick Alushula 2 years ago

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 2 years ago

Suppliers to wait longer as county bosses audit Sh153b pending bills

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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 2 years ago

Raila Odinga key prayers at the Supreme Court

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 2 years 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 2 years ago

Ruto hits out at Raila over plans to return port operations to Mombasa

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 2 years 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 2 years ago

Basketball: Wijass, Indasi ready for 3x3 Commonwealth basketball tip off on Friday

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 2 years 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 2 years ago

Big budgets reigned supreme amid wastage

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 2 years 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 2 years ago

Burdened bank customers add Sh56b loan defaults in 4 months

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 2 years 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 2 years ago

Dar gas dealer to set up LPG plant in Mombasa

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 2 years ago

Audit now exposes grand wastage in Sh3.4t 2021 budget

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 2 years ago

How Covid shocks hooked more Kenyans on survival loans

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 2 years 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 2 years 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 2 years 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 2 years ago

Nigerian top lender buys out Centum from Sidian for Sh4.3b

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 2 years 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 2 years ago

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 2 years 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 2 years ago

CBK fees waiver pushes M-Pesa daily deals with banks to Sh15b

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 2 years 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 2 years 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 2 years ago

New annual fee to hit small NSE investors where it hurts most

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 2 years ago

Meet Kenya's Sh30m-a-month bank chief executives

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 2 years ago

How British shareholders Linkham burnt their fingers at Resolution Health

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