A man shops for maize flour at a supermarket in Nyeri, County. Most supermarkets have recorded low numbers of customers, a trend they blame for their failure to pay suppliers. PHOTO | FILE | NATION MEDIA GROUP The Competition Authority of Kenya wants to protect businesses, especially small enterprises, from collapse due to constrained cash […]
A KQ plane on flight. PHOTO | FILE | NATION MEDIA GROUP The Treasury has refused to offer a commitment to Kenya Airways’s request for a Sh7 billion emergency bailout after its aircraft were grounded due to the restrictions on international passenger flights sparked by the coronavirus pandemic. Treasury Cabinet Secretary Ukur Yatani said the […]
A KCB branch. FILE PHOTO | NATION MEDIA GROUP KCB Bank has temporarily closed its Mvita branch in Mombasa after an employee tested positive for the new coronavirus. In a press release, KCB Group CEO Joshua Oigara confirmed said the outlet was closed for three days for immediate cleaning and disinfection of the premises. All […]
Equity Bank CEO James Mwangi. PHOTO | FILE | NATION MEDIA GROUP Equity has restructured Sh92 billion loans, equivalent to about 25 per cent of its net loans at the end of last year, as the lender seeks to cushion customers who have been hit by the coronavirus crisis. The relief, which is being determined […]
Monitor Publications Limited, part of the Nation Media Group, became the latest media company to cut salaries of its employees in response to a decline in revenue caused by the coronavirus outbreak. A letter sent to employees on Friday said that the company’s management had taken the “hard but necessary decision” to implement temporary salary […]
An employee of the East African Breweries Ltd checks beer quality before labelling at the company’s plant in Ruaraka, Nairobi. PHOTO | FILE | NATION MEDIA GROUP The management says measures put in place to contain the deadly pandemic will see net earnings fall sharply to about Ksh8.64 billion ($86.4 million). More companies are expected […]
An employee of the East African Breweries Ltd checks beer quality before labelling at the company’s plant in Ruaraka, Nairobi. PHOTO | FILE | NATION MEDIA GROUP The management says measures put in place to contain the deadly pandemic will see net earnings fall sharply to about Ksh8.64 billion ($86.4 million). More companies are expected […]
Few deny Kenya has a “debt problem”, but the country is not in a “debt crisis” – not yet. ILLUSTRATION | NATION MEDIA GROUP The coronavirus epidemic is raising the scale of indebtedness in Africa. In Kenya, the pandemic has slowed down economic growth from an initial projection of 6.2 per cent to 3.4 per […]
Few deny Kenya has a “debt problem”, but the country is not in a “debt crisis” – not yet. ILLUSTRATION | NATION MEDIA GROUP China needs clear strategic options to guide its intervention to help Kenya contain the epidemic and forestall a debt crisis. China might choose to improve on the G20 package to reduce […]
A customer at Cooperative Bank branch. PHOTO | FILE | NATION MEDIA GROUP Co-operative Bank of Kenya has announced flat profits for the three months to March as rising workers’ pay and costs linked to loan defaults ate into the lender’s earnings. The bank says net profit for quarter one stood at Sh3.58 billion against […]
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