KBA chief executive Habil Olaka /FILE The Credit Reference Bureau (CRB) listing freeze on new loan defaulters of sums below Sh5 million could hinder the implementation of risk-based lending, bankers have said. The Kenya Bankers Association (KBA) chief executive Habil Olaka said this in a commentary supporting the new credit pricing model favoured by industry […]
Kenya’s major supermarkets opened 19 new stores last year, partly spurred by a recovery in consumer demand and cash from private equity funds which acquired stakes in two of the four retailers in prior years. Naivas, Quick Mart, Carrefour and Chandarana Foodplus tightened their grip on Kenya’s retail sector, capitalising on the gap left by […]
AFTER navigating choppy seas, the cruise industry – one of Cape Town tourism sectors hardest hit by the Covid pandemic – is forecasting smoother sailing ahead. MEC for Finance and Economic Development in the Western Cape, David Maynier told Weekend Argus that he expected 28 cruise ships to dock, with as many as 190 000 […]
US Dollars. PHOTO| FILE Three Nigerians suspected to enjoy the backing of a powerful Kenyan politician and two Kenyans wired Sh25.6 billion between October and November 2020, setting off alarm bells in Europe and at the global police agency Interpol over possible money laundering. Bank statements provided by a European investigator revealed a cross-continental operation […]
Banco Santander (Brasil) S.A. Parent Company and Individual and Consolidated Condensed Interim Financial Statements Prepared in Accordance with Accounting Practices Established by Brazilian Corporate Law, Applicable to Institutions Authorized to Operate by the Central Bank of Brazil Index Performance Review …………………………………………………………………………………………………………………………………………………………………………….. 3 Condensed Income Statement …………………………………………………………………………………………………………………………………………………………. 14 Condensed Statement of Changes in Shareholders’ Equity – […]
Officials of companies under probe over claims of money laundering involving more than Sh25 billion say their transactions are clean and above board. The officials based in Nairobi honoured summonses to the Assets Recovery Agency and explained how they operate. They insisted their businesses are out to help Nigerians abroad send money home. Officials aware […]
India’s two largest private lenders have bitten at each other’s ankles for decades now. If ICICI Bank Ltd. led India’s retail growth story in the late 1990s and the early 2000s, then HDFC Bank Ltd. was the pick of the pack in the post financial crisis period for more consistent performance. It is now increasingly […]
Mdundo head of brand partnerships Rachel Karanu. Nigeria and South Africa registered the biggest quarterly growth with 8.3 million and 2.2 million users, which represents a 92% and 80% spike in each market respectively. Kenya’s user base grew by 46% to 5.7 million users, while the Tanzanian market grew by 10% to 3.9 million. Several […]
Dr James Mworia, Centum Group CEO(third-right), Mr Kenneth Mbae, Centum Real Estate Managing Director (third-left), Mr Devendra Hirani (centre) of Seyani Construction and the Centum Real estate team during a construction inspection tour of Loft Residences at Two Rivers. Centum RE broke ground on phase 1 of its Mzizi Court housing project at the Two […]
Kenya is reviewing the currency composition of its external debt in order to reduce currency volatility that has seen the cost of its dollar-denominated loans increase by two percent in four months. Haron Sirma, director-in-charge of Debt Management at the Treasury, said the proposal is aimed at reducing foreign exchange costs.“On the external debt stock, […]
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