Treasury eyes Ksh.40 billion from local borrowing in December

By Kepha Muiruri,

The National Treasury has set Ksh.40 billion as its local borrowing target during the month of December. The Central Bank of Kenya (CBK) which exec...

CBK , National Treasury

Senators call for stricter measures on digital lending apps

By Edwin Obuya,

The Senate is now calling for stricter measures on digital lending applications that they say are milking Kenyans dry. The Finance and Budget Commi...

CBK , digital lending apps , patrick njoroge

Spire Bank sinks further with Ksh.784M loss

By Kepha Muiruri,

Spire Bank has sunk further into the hole with its nine months of operations in the year leaving it with a widened Ksh.783.6 million loss. The four...

Mwalimu Sacco , Spire Bank

Banks loan restructures hit Ksh.1.4T in October

By Kepha Muiruri,

Local banks have now restructured Ksh.1.38 trillion in customer loan repayments as part of relief measures passed on to borrowers over COVID-19 relate...

banks , Central Bank of Kenya (CBK) , coronavirus , COVID-19

Kenya shilling slips past 110 mark

By Kepha Muiruri,

The Kenya shilling slipped past another crucial confidence marker on Friday as it breached the Ksh.110 mark in its valuation against the US dollar. ...

CBK , dollar , shilling

CBK leaves the benchmark rate unchanged at 7% for the fifth time

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has left the benchmark lending rate unchanged at seven percent for the fifth straight time following its policy meetin...

Central Bank of Kenya (CBK) , Central Bank Rate (CBR)

Mayfair CIB cuts its nine month losses to Ksh208 million

By Kepha Muiruri,

Mayfair CIB Bank has cut its nine months losses to Ksh.208.4 million from a Ksh.250.2 million loss last year. The 16.7 per cent contraction in loss...

Mayfair CIB Bank

Diaspora dollar flow rises by 17 per cent to Ksh.29 billion in October

By Kepha Muiruri,

Inflows from Kenya’s diaspora have continued to grow by 17.3 per cent to Ksh.28.8 billion ($263.2 million) in October from Ksh.24.6 billion ($224.3 ...

Central Bank of Kenya (CBK) , diaspora remittances

Why the CBK isn’t losing any sleep over banks sinking profitability

By Kepha Muiruri,

Banks earnings continue to take a beating from economic disruptions occasioned by the COVID-19 pandemic. This however is merely a secondary concern fo...

Central Bank of Kenya (CBK) , Dr. Patrick Njoroge , Kenya Bankers Association (KBA)

Kenya seeks three and a half year access to IMF emergency loans

By Kepha Muiruri,

Kenya is in deep talks with the International Monetary Fund (IMF) over the access of emergency bail out loans over the next three and a half years, th...

CS Ukur Yatani , debt , International Monetary Fund (IMF) , National Treasury

National Treasury raises Ksh.53.7B from local borrowing in November

By Kepha Muiruri,

The National Treasury has raised Ksh.53.7 billion from the local market in November’s primary bond sale completed on Tuesday. The pair of bonds w...

local borrowing , National Treasury

49 percent of ‘rich’ Kenyans fall behind loan repayments

By Kepha Muiruri,

Nearly half of all Kenyans with a stable financial footing have fallen behind their loan repayments revealing the extent of the economic distress in t...

COVID-19 , debt , Kenya Bankers Association (KBA)

BOA Kenya granted exemption to CBK ownership rules

By Kepha Muiruri,

The Bank of Africa (BOA) Kenya Limited has been exempted from the Central Bank of Kenya (CBK) ownership rules for up to five years. The exemption b...

Free cash transfers take Ksh.6billion from Safaricom’s M-Pesa purse

By Kepha Muiruri,

The roll out of free mobile money transactions has punched a Ksh.6.1 billion revenue hole in Safaricom's M-Pesa service in six months to September 30....

coronavirus , free cash transfers , M-pesa , Safaricom

Safaricom half-year profit falls for the first time since 2012

By Kepha Muiruri,

Leading telco operator Safaricom PLC has reported a reduced Ksh.33 billion half year profit representing a six percent slide in earnings from Ksh.35.2...

M-pesa , Peter Ndegwa , Safaricom

KRA eyes Ksh.5 billion from the digital economy by June next year

By Kepha Muiruri,

The Kenya Revenue Authority (KRA) has set its sights on raising Ksh.5 billion from the digital economy in six months to June 2021. This ahead of th...

Digital Services Tax (DST) , Githii Mburu , Kenya Revenue Authority (KRA)

Free mobile cash transfers to eat into Safaricom’s profit cake

By Kepha Muiruri,

Free mobile money transfers below Ksh.1000 implemented in mid-March are expected to curve a part of Safaricom’s profit when the company publishes it...

Central Bank of Kenya (CBK) , M-pesa , Safaricom

CBK dollar reserves fall below 5-month cover as shilling treads on 109 mark

By Kepha Muiruri,

The Central Bank of Kenya (CBK) usable foreign currency reserves have fallen below the five months import cover in the past week as the shilling faces...

Central Bank of Kenya (CBK) , Kenya Shilling

CBK unveils its fourth currency centre in Kisii

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has launched its fourth currency centre in Kisii town. The new centre is expected to support the reserve bank’s c...

CBK , Kisii

Kenyan economy shrinks for the first time since September 2008

By Kepha Muiruri,

The Kenyan economy contracted for the first time since the third quarter of 2008 as second quarter growth dropped to a negative 5.7 per cent from a po...

COVID-19 , Kenya's economy , recession