Multiple bank executives have protested to the International Monetary Fund (IMF) over the Central Bank of Kenya’s (CBK) reluctance to approve lenders’ applications to raise the cost of loans following the scrapping of lending rate controls on November 7, 2019.
The IMF on Thursday revealed …
Tea price flat on balanced supply and demand
The price of tea at the Mombasa auction was flat in this week’s auction, with healthy demand balancing out increased supply and declining international prices.
The East African Tea Trade Association (Eatta) said the average price per kilogramme of the product was Sh239, simil…
Revival of Mumias Sugar remains a doubt
The saving grace in the outcome of the Mumias Sugar Company leasing transaction is the fact that the miller is not being handed to a local miller. The Sarrai Group of Uganda are entering into the local milling market for the first time.
Mr Sarbi Singh Rai, who is a brother of the industria…
Kenya Airways adds US flights on high demand
Kenya Airways has increased frequencies to the US to four a week as demand for bookings picks up this festive season, coming as a relief to the carrier that is struggling with low numbers in the wake of a new variant of Covid-19 that has hit the airlines.
KQ said it has seen …
NMS now to receive funds direct from the Treasury
Nairobi Metropolitan Services (NMS) will now receive funds directly from the Exchequer after striking a deal with City Hall.
This is after the two entities signed a framework of transfer of funds developed by the National Treasury late last year, bringing to an end impasse over the release…
Ground is now set for crypto to take centre stage
As we come to the close of 2021, a year that has seen us come to terms with many new realities following the vagrancies of the pandemic, the New Year carries with it a sense of bold intent.
The majority have either hit or are near rock bottom, and there is something to be said for a man or…
President Kenyatta eager to drive on complete Nairobi Expressway in March
President Uhuru Kenyatta has expressed excitement over the near completion of the Nairobi Expressway, noting that he could not wait to drive on the road once it’s done.
While presiding over laying of the last girders of Kenya’s first toll road Thursday, he also praised contractors for thei…
Student in Sh102m row says KRA cleared cash
Kenya Revenue Authority (KRA) cleared the Sh102 million sent to a 21-year-old Kenyan student by his Belgian boyfriend in August, money that is now subject to forfeiture by the Assets Recovery Agency (ARA).
Felesta Nyamathira Njoroge says in court filings that the taxman froze the money on …
CA slashes mobile call rates after six years
The Communications Authority of Kenya (CA) on Wednesday cut the rate mobile phone operators charge each other for interconnecting customers by Sh0.87 or 87.7 percent, signalling lower call tariffs.
The regulator cut the charges commonly referred to as mobile termination rate (MTR) from Sh0…
Kenyans earning more than Sh100,000 drop
The number of Kenyans earning more than Sh100,000 dropped to 79,909 last year, reflecting Kenya’s growing inequality in the formal sector and tax avoidance by the wealthy in the informal sector.
The Kenya National Bureau of Statistics (KNBS) data released on Tuesday show the …