The new look Kenyan currency notes. The shilling continues to benefit from increased dollar inflows to the securities market and earnings by exporters. According to the Central Bank of Kenya, commercial banks quoted the shilling at an average of 102.50 against the dollar yesterday, compared to a closing average of 102.81 on November 8 (Friday) […]

From left-Kenya Association of Stockbrokers and Investment Banks CEO Willie Njoroge, AIB Capital boss Paul Mwai and Nairobi Securities Exchange CEO Geoffrey Odundo at a function on March 28, 2019. FILE PHOTO | NMG Stockbrokers and investment banks have warned of mass takeovers and delisting from the Nairobi Securities Exchange (NSE) following the coming into […]

Banks are set to increase competition against digital lenders as they seek to expand their loan books by pricing customers according to risk, analysts say. It is expected that lenders will go for the Micro Small and Medium Enterprise (MSMEs) market segment as opposed to consumer lending. Lower cost of loans and longer-term facilities are […]

Mr Kibe clarified that other fleet of Silverstone planes continue to operate normally as they have been inspected and found to be safe. There has been an average of an aircraft mishap every month within the Kenyan airspace in the past 22 months. The Kenya Civil Aviation Authority (KCAA) has suspended the licences of two […]

A customer at a bank in Nairobi. FILE PHOTO | NMG Banks increased their staff numbers by three percent to 31,889, marking the first time in five years for the sector to collectively hire additional employees despite increased automation and interest rate cap jitters. The rise, from 30,903 employees in 2017, is however far from […]

The rising appetite for digital loans has led tens of unregulated microlenders to invade Kenya’s credit market. FILE PHOTO | NMG Requests by banks for loan repayment reports from credit reference bureaus (CRBs) jumped nearly three-fold to 12.40 million in the race to shield lenders from defaults, especially on short-term mobile phone-based credit. Central Bank […]

Placing a bet online. The Treasury last year reintroduced the 20 percent tax on winnings. FILE PHOTO | NMG The Kenya Revenue Authority (KRA) Monday said it has lodged an appeal against a ruling by the Tax Appeals Tribunal that a punter’s betting stake cannot be charged 20 percent tax on winnings. The taxman is […]

Five East African Community member countries have together amassed more than $100 billion domestic and foreign debt, stretching their repayment budgets to the limit. FILE PHOTO | NMG Kenya and Tanzania’s total public debts as at June 2019 stood at $58.1 billion and $22.5 billion respectively, while Uganda’s stock of public loans was $12 billion. […]

The SADC operates a shared model that makes it possible to procure affordable digital operating platforms and reasonable sharing of commissions between stockbrokers. In the model, stock exchanges hosted by member states enjoy access to discounted prices for advanced but expensive technological platforms by leveraging on the Johannesburg Securities Exchange’s economic muscle. MoUs between stockbrokerage […]

Since September 2016, lending rates were capped at four percentage points above CBR. CBK had publicly stated that the rate caps had rendered its monetary policy tools ineffective, making it difficult to control inflation and the amount of money in circulation. The World Bank had also stated that interest rate caps undermined monetary policy transmission […]