The government will begin implementing a plan to reduce the impact of second-hand clothes, commonly known as mitumba, on the local textile industry next month.
Banks are from today required to charge a maximum interest of four percentage points above the CBR and pay at least 70 per cent of the CBR on term deposits.
Microsoft has billed the NexTech forum as an opportunity to fast-track application of products and services tailored to meet Africa’s needs. The forum will also showcase market-ready world-class solutions from the African continent.
Equity Bank chief executive James Mwangi said the bank has also set aside Sh100 billion for onward lending to the mass market and all loans taken from yesterday will be priced at 14.5 per cent.
Kenya Revenue Authority, Commissioner General John Njiraini says the cargo scanners, donated by China and have been installed at the port of Mombasa, have a capacity to scan about 500 containers within 24 hours.
KCB group has posted a net profit of Sh12.1 billion in the half year to June in a marginal improvement from last year when the company posted Sh10.3 billion.
Barclays Bank Kenya managing director Jeremy Awori said the company will launch a stock brokerage business to increase its revenue streams. The bank recently launched agency banking and said it is also exploring new products for its mobile banking services to woo more customers.
Bankers have partnered with the High Court’s Family, Commercial and Tax divisions to speed up resolution of a growing backlog of disputes valued at hundreds of billions of shillings through court-led mediation.
The country’s business community has expressed fears that the 2017/2018 Gross Domestic Product will reduce by 0.3% due to the ongoing political instability.
Central Bank of Kenya governor Patrick Njoroge is adamant the industry-wide base lending rate, and the Kenya Banks Reference Rate, should be re-worked to have an impact on the pricing of loans by commercial banks.
The Institute of Certified Public Accountants of Kenya has raised alarm over Sh691.5 billion budget deficit in the Sh2.26 trillion budget for the financial year 2016-17, arguing borrowed money should only go into development projects.
Tourism players in Kilifi County have begun recording cancellation of bookings following fears of the outcome of the repeat presidential elections set for October 17.
The Kenya Tourism Board has warned of negative impact the ongoing anti-IEBC protests could have on the industry as the country gears up for the 2017 elections.
We are delighted to extend our fuel card services to Little [Cab] drivers and offer further discount benefits to them. This move is meant to improve their experience at KenolKobil service stations across the country.