Purshottam Developers partners with Stanbic Bank in mortgage financing deal

Purshottam Developers partners with Stanbic Bank in mortgage financing deal

NAIROBI, Kenya April 21-Property developer Purshottam Developers, and Stanbic Bank Kenya have entered a structured mortgage finance partnership that will enable customers to own homes in Ruaka at an affordable cost. As part of the deal, Kenyans will be able to acquire the apartments with a standard minimal deposit and subsidized mortgage loan interest at […]

Africa’s Jambojet Places Its Immediate Focus On Domestic Recovery

Africa’s Jambojet Places Its Immediate Focus On Domestic Recovery

Kenya’s low-cost regional airline Jambojet will prioritize local routes for the time being as it looks to consolidate business within the country before expanding internationally. The airline had to suspend some of its international flights during COVID and has no immediate plans of deploying its aircraft to overseas destinations on a large scale. Focus on […]

CRB listing freeze to delay risk based loan pricing - bankers

CRB listing freeze to delay risk based loan pricing – bankers

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 […]

Kenyan politician, Nigerians wired Sh500 billion in days amid money laundering fears

Kenyan politician, Nigerians wired Sh500 billion in days amid money laundering fears

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 […]

Our money is clean, Nigerians in Sh25bn probe tell agency

Our money is clean, Nigerians in Sh25bn probe tell agency

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 […]