Cash-strapped Kenya Meat Commission (KMC) has formed a task force to spearhead collection of debts as it moves to settle liabilities. The State-owned meat processor owes livestock farmers Sh254.4 million for supplies and has outstanding payroll deductions totalling Sh144.7 million. Managing commissioner James Ole Seriani told Parliament that upon recovery of the money, the company […]
It said the lower rating resulted from the downgrade of the issuer rating of the Kenyan government given earlier this week. KCB Group said its rating had been affected by the sovereign downgrade but added that an upgrade would have a similar effect on the bank. Moody’s said that an erosion of financial metrics and […]
The Kenya shilling fell marginally against the United States dollar on Thursday as it continued with a downward trajectory amid rising demand for the greenback. The shilling traded at an average of 101.25 to the dollar, down from 101.20 in the previous session. The Central Bank of Kenya quoted the currency at 101.23 to the […]
China was the top country that advanced bilateral loans to Kenya in 2017, latest data from the Treasury shows. China gave Kenya Sh520 billion ($5,202.37 million) for the period ending December 2017. The Treasury data shows that China loans to the Kenyan government have been growing since December 2015 when it advanced the government a […]
Uber has launched a new, lower-cost service in Nairobi called Uber Chap Chap . Made possible by using a fleet of fuel-efficient budget sedans, Uber Chap Chap (Swahili slang for “hurry, hurry”) is currently available in several areas of the Kenyan capital, including its central business district. Uber, which began testing the service at the […]
Tourism Cabinet Secretary Najib Balala (2nd right) during a press conference in his office on February 8, 2018. He said Kenya’s tourism sector has improved after the country recorded a 20.3 percent growth last year to post earnings of Sh120 billion despite the long electioneering period. Strategies to revive Kenya’s tourism sector bore fruit after […]
Food processing firm Proctor & Allan East Africa Photo:Courtesy Food processing firm Proctor & Allan East Africa is angling for a bigger pie of the ready-to-eat cereals market with the completion of a Sh2 billion factory. The plant, which is based in Limuru town, produces breakfast cereals, oats and pre-cooked fortified flour as the company […]
A global payments firm Visa has taken the competition for mobile money service a notch higher with the launch of mVisa that enables Kenyans use mobile phones to transact cash and make payments. The rollout of the service will enable Kenyans make free domestic mobile money transfers using mVisa. The daily limit for person to […]
IPSL Chief Executive Officer, Jennifer Theuri says they hope to raise the number of banks using Pesalink in the next few weeks So far, 22 commercial banks are part of the network allowing customers to move money across banks through the app. The banks include; I&M Bank Kenya, CBA, First Community Bank, Paramount Bank, Jamii […]
Equity Bank of Kenya Limited Chief Executive Officer James Mwangi (R) and European Investment Bank Vice-President Pim Van Ballekom (L) in Nairobi on 29/03/2017. Equity Bank has signed Kshs 10.5 Billion financing agreement with European Investment Bank to support regional entrepreneurs. European Investment Bank, the long-term lending institution of the European Union, has extended about […]
The value of investments can go down in value as well as up, so you could get back less than you invest. Past performance does not necessarily indicate a financial product’s future performance. This website aims to provide information to help you make your own informed decisions. Our publications, ratings and analysis should be viewed as an additional investment resource, not as your sole source of information. This website does not provide personal advice based on your circumstances. To obtain advice tailored to your situation, please contact a professional financial adviser.
We would like to show you notifications for the latest news and updates.