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NEWS & CURRENT AFFAIRS

Digital News

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Brian Ngugi

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

Government back to drawing board after KRA misses tax targets

Digital lender Tala surpasses Sh300bn mobile loans as Kenyans borrow more

Digital lender Tala surpasses Sh300bn mobile loans as Kenyans borrow more

Eyes on KRA as multinationals fail tax transparency test

Eyes on KRA as multinationals fail tax transparency test

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

Inside Treasury's bold plan to avoid fresh Gen Z tax revolt

Any new taxes risk sparking public outrage and potentially undermining his political support, experts and the IMF have admitted.

Inside Treasury's bold plan to avoid fresh Gen Z tax revolt

State confirms data-sharing deal with telcos to up tax compliance

A leading telco is already sharing real-time data on mobile money transactions and other relevant information with KRA to enhance tax compliance and bolster revenue collection.

State confirms data-sharing deal with telcos to up tax compliance

Starlink now struggles to keep up pace

Starlink currently faces the challenge of needing more satellites in orbit to boost network capacity.

Starlink now struggles to keep up pace

Over half of banks face mergers, acquisitions in CBK rules review

More than half of Kenya’s banks face potential acquisition or forced mergers as the National Treasury revisits plans to amend the Banking Act.

Over half of banks face mergers, acquisitions in CBK rules review

Fuel price hikes loom as state agencies plan subsidy cuts

Kenya is set to reform its fuel pricing mechanism in a move that could lead to higher prices of petroleum products in the country.

Fuel price hikes loom as state agencies plan subsidy cuts

Latest CBK report reveals banks with cheapest, most expensive loans

Cooperative Bank and Diamond Trust Bank (DTB) remain the lenders with the lowest loan interest rates among Tier One banks, according to new data from the Central Bank of Kenya.

Latest CBK report reveals banks with cheapest, most expensive loans

More pain as Ruto raids shallow pockets yet again

Treasury reintroduces tax measures contained in the rejected Finance Bill, 2024 in draft law amendments in pressure to increase its revenues in line with IMF funding conditions.

More pain as Ruto raids shallow pockets yet again

IMF's Kenya warning as it releases Sh78bn

The IMF has warned of a difficult path ahead for Kenya as it disbursed $606 million (Sh78.1 billion) to support the government’s budgetary needs.

IMF's Kenya warning as it releases Sh78bn

Kenya among African nations urged to balance development and climate goals

The eighth Babacar Ndiaye Lecture highlighted need for African nations to navigate balance between immediate development needs and long-term environmental sustainability.

Kenya among African nations urged to balance development and climate goals

Afreximbank investment conference in Kisumu to strengthen Intra-African trade

The primary goal is to foster collaboration among African sub-sovereigns to align their trade and investment initiatives with the objectives of the AfCFTA.

Afreximbank investment conference in Kisumu to strengthen Intra-African trade

Kenya awaits crucial IMF loan decision amid revenue worries

The cash-strapped Kenya Kwanza administration is anxiously awaiting the decision of the IMF Executive Board on multi-billion-dollar loan disbursement

Kenya awaits crucial IMF loan decision amid revenue worries

Equity Group launches Sh774 billion Africa recovery and resilience plan

The Sh774 billion initiative is designed to tackle Africa’s systematic vulnerabilities that were exacerbated by the Covid-19 pandemic

Equity Group launches Sh774 billion Africa recovery and resilience plan

IMF offers Kenya expertise to seal graft loopholes, woo Gen Z

IMF has advised the Kenya Kwanza government to address corruption to regain the trust of Gen Z, who are skeptical about tax increases and their intended public benefits.

IMF offers Kenya expertise to seal graft loopholes, woo Gen Z

Kenya's Gen Z protests now spark global rethink on IMF conditions

The IMF report suggests that fostering a two-way dialogue with stakeholders is essential for creating an environment conducive to reform implementation.

Kenya's Gen Z protests now spark global rethink on IMF conditions

Africa's central banks demand global financial system overhaul

African central bank governors are now calling for a significant overhaul of the international financial system, arguing the current architecture disadvantages developing countries.

Africa's central banks demand global financial system overhaul

IMF warns of crisis if no action is taken to create jobs for Gen Z

In a bid to address growing unrest among the youth, the International Monetary Fund has advised Kenya and other African nations to prioritise job creation.

IMF warns of crisis if no action is taken to create jobs for Gen Z

Big test as Ruto's moneymen face IMF, World Bank amid bad economy

Treasury CS John Mbadi met a top IMF representative who insisted that Kenya must put in place “sound macroeconomic fundamentals” to encounter growth.

Big test as Ruto's moneymen face IMF, World Bank amid bad economy

IMF cuts Kenya's 2025 economic growth forecast

IMF has cut Kenya’s economic growth forecast for this year and 2025 by nearly one percentage point, marking the largest downgrade among major regional economies in under a year.

IMF cuts Kenya's 2025 economic growth forecast

Kenyans still in the dark on power costs after Adani agreement

Energy CS Opiyo Wandayi has dismissed concerns surrounding the deal, emphasising its goal of alleviating persistent power blackouts and enhancing national electricity infrastructure.

Kenyans still in the dark on power costs after Adani agreement

Ruto urges for single-digit loan rates as CBK to meet bank chiefs

Pressure is mounting on commercial banks to reduce their interest on loans following a recent cut in the Central Bank Rate to stimulate credit to small businesses and individuals.

Ruto urges for single-digit loan rates as CBK to meet bank chiefs

Why banks have cut lending to customers

Kenya’s banking sector is tightening its grip on deposits, opting to hold onto its piles of cash rather than extend loans to small businesses.

Why banks have cut lending to customers

JPMorgan gets CBK nod to open Nairobi office

As of 2023, J.P. Morgan holds the title of the largest bank in the US and the world by market capitalisation.

JPMorgan gets CBK nod to open Nairobi office

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