Business

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Alarm over budget deficit

Star Videos June 20, 2016

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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.

Bamba TV, KTN sign Sh300 million partnership

Star Videos February 18, 2016

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Bamba TV, KTN sign Sh300 million partnership

Banks pledge to cut lending rates after pressure from MPs

Star Videos August 10, 2016

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Kenyan lenders have promised to immediately cut loan rates by 100 basis points, part of measures to lower borrowing costs and see off the threat of a legislative cap on rates.

Barclays Kenya CEO clarifies status of bank’s operations

Star Videos February 29, 2016

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Barclays Bank of Kenya is not shutting down and there are no plans at local, regional or group level to shut down our operations here. Managing Director Jeremy Awori.

CBK pushes for lower cost of borrowing

Star Videos May 25, 2016

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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.

CBK to penalise banks that fail to lower rates

Star Videos July 27, 2016

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Commercial Banks have 30 days to lower lending rates or face penalties, Central Bank of Kenya governor Patrick Njoroge has said.

Central Bank Governor Patrick Njoroge briefing on Chase Bank

Star Videos April 7, 2016

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Chase Bank has been placed under receivership for 12 months after experiencing “liquidity difficulties”, Central Bank has said.

Central Bank of Kenya marks golden jubilee with symposium

Star Videos September 14, 2016

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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.

Chase bank reopens its doors to customers

Star Videos April 27, 2016

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Chase Bank reopened under the management of Kenya Commercial Bank. Central Bank agreed to KCB’s proposal to acquire majority stake in Chase Bank, days after the mid-tier bank was closed down.

China market threatens existence of Sameer EA

Star Videos June 7, 2016

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Sameer group has no plan to exit the Kenyan market despite competition from cheap imported tyres from Asian countries.

Cofek to sue Uhuru if lending rates stay high

Star Videos August 23, 2016

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The Consumer Federation of Kenya says it will lead demonstrations to push for the signing of the bill capping bank interest rates, adding it will not take a rejection.

Collymore gets two-year extension as Safaricom CEO

Star Videos May 10, 2017

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Bob Collymore’s contract at the helm of Safaricom has been extended for another two years. The contract was due to expire in August after it was extended for another two years in May 2015.

Equity bank reduces credit rates on mobile loans

Star Videos September 15, 2016

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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.

Equity in Sh10 billion partnership with European Investment Bank

Star Videos March 30, 2017

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European Investment Bank has extended about Sh10.57 billion to regional credit-starved SMEs through Equity Holdings Group and Housing Finance.

Equity targets increased revenues from new digital banking

Star Videos October 12, 2016

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Equity Group is betting big on digital platforms to drive earnings for the industry hard hit by recent interest controls on loan charges and returns on term deposits.

Giving start-ups a boost through use of virtual offices

Star Videos October 4, 2016

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Setting up a business can be a daunting task. Finding the right location and setting up the working area or office is one of the most draining jobs – both physically and financially – for new entrepreneurs.

IEBC protests threaten tourism recovery – KTB

Star Videos May 24, 2016

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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.

Imperial Bank Board chairman issues statement on the CBK

Star Videos January 13, 2016

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The uncertainty over the recovery of Imperial Bank on Tuesday sent the lenders chairman into tears as he questioned the Central Bank of Kenya’s sincerity to its reopening. CBK and the banks auditor’s PKF Kenya were further accused of failing in their supervisory role in the run up to the bank’s closure after a fraud […]

Imperial Bank Limited depositors demos

Star Videos June 13, 2016

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A section of Imperial Bank depositors through a pressure lobby group today conducted ‘peaceful’ demonstration outside the bank’s head office at Imperial Court, Westlands Road.

Jeremy Awori on measures to grow Barclays Bank Kenya profits

Star Videos March 4, 2016

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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.

Judiciary, Banks unite to reduce case backlogs

Star Videos July 6, 2016

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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.

Ken Gen Posts Sh11 Billion Full Year Profits

Star Videos October 13, 2015

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KenGen’s managing director Albert Mugo attributed the increase in profits to higher electricity sales.

KenGen targets Sh28 billion in new rights issue

Star Videos May 23, 2016

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Electricity generator KenGen on Monday announced plans to raise an additional Sh28.8 billion through a rights issue.

KenolKobil, Little Cab partner to lower taxi hailing costs

Star Videos October 2, 2016

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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.

Kenya’s economy grows by 5.6% on improved agricultural production

Star Videos May 4, 2016

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Kenya’s economy expanded by 5.6 per cent last year compared to 5.3 per cent in 2014, the Economic Survey 2016 report released yesterday indicates.

Kepsa lauds Uhuru for good business environment

Star Videos June 5, 2017

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The private sector has praised Jubilee for creating the right environment for business and making Kenya attractive to investors.

Kirubi on Trump presidency, says politics, business cannot mix

Star Videos November 11, 2016

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Kenyan entrepreneur Chris Kirubi foresees a bleak future for the US following the announcement of Donald Trump as the president-elect in Wednesday’s polls.

KNCC endorses Standard Gauge Railways project

Star Videos June 7, 2017

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KNCC endorses Standard Gauge Railways project

KNCCI and somalia trade lobby sign deal

Star Videos August 9, 2016

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The Kenya National Chamber of Commerce and Industry has signed a Memorandum of Understanding with the Jubaland Chamber of Commerce and Industry – a business lobby group in Somalia – in a bid to enhance inter-regional business and boost job creation.