Wapi Pay co-founder Paul Ndichu. PHOTO | DIANA NGILA Wapi Pay, a Kenyan digital payments start-up, has set sights on a share of more than Sh600 billion trade between Kenya and Asian countries such as China and India after a successful cash call. The fintech start-up, co-founded in 2019 by twins Eddie and Paul Ndichu, […]
Kenya Bankers Association (KBA) CEO Habil Olaka. FILE PHOTO | NMG The tax collected from banks fell 23 percent to Sh42.4 billion last year, reflecting subdued business performance in an environment scorched by the economic fallout of the Covid-19 pandemic. Lenders lobby, the Kenya Bankers Association, says taxes plunged following a 30.9 percent drop in […]
The report says this exposes the parastatal to possible seizure of its assets by the lender. Cash-strapped National Oil Corporation of Kenya (Nock) lost nearly half a billion shillings in a single financial year, raising its accumulated losses to over Sh3 billion. In addition, the auditor general report states that the State-owned corporation’s current liabilities […]
Atul Shah the former Chief Executive of the fallen retail giant Nakumatt is scheduled to lose his palatial home in a public auction over a pile of stores debts. According to details, Mr. Shah, will lose his Lavington home to auctioneers this month after defaulting on a U$1,8407,731 KCB loan he had guaranteed the supermarket. […]
Following the government’s ease of the 42-day lockdown that commenced on the 18 th of June 2021 and ended on the 30 th of July 2021, key sectors including the Banking industry among others have adjusted their operating hours as a result of the lockdown easing. Commercial Banks and other financial institutions across the country […]
Over a year after retail chain Nakumatt collapsed, its former CEO Atul Shah is still a man under siege The latest development is that his palatial Lavington house will be auctioned in August to recoup a KSh 2 billion loan he took for the retail chain Nakumatt closed in January 2020, leaving in its wake […]
Commercial Banks, and other financial institutions across the country were forced to operate on half scale with select branches operating and a fractions of their staff so as to align with governments efforts of curbing the pandemic spread, with majority encouraging their customers to utilize their digital banking platforms (PHOTO /Courtesy) KAMPALA — Following the […]
Mumias sugarcane farmers protest at Ekero area where were urging an investor who was in plans to revive Mumias Sugar Factory to continue with the plans but involve them as stake holders. A farmers’ lobby group has moved to court to challenge the intended lease of Mumias Sugar Company Limited . Gikwamba Farmers’ Cooperative Society […]
The seven lenders registered a total of Sh143.052 billion in net profits during the second quarter of 2021. Dar es Salaam. Shareholders in some large banks will be keeping their fingers crossed in anticipation that their dividends will increase further if the lenders’ second quarter performance is maintained. Recently released financial statements show that a […]
Former Nakumatt CEO Atul Shah. FILE PHOTO | NMG The former chief executive of the fallen retail giant Nakumatt, Atul Shah, will lose his Lavington home to auctioneers this month after defaulting on a Sh2 billion KCB loan he had guaranteed the supermarket. The bank, through Phillips International Auctioneers, will sell the four-bedroom villa with […]
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