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Budget Committee seeks to raise budget by Ksh.50 billion
By Kepha Muiruri,
1224, June 5, 2020 (EAT)
The National Assembly Budget and Appropriations Committee (BAC) has proposed ammendments to the 2020/21 expenditure estimates that will see a cumulati...
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China-Africa blanket debt forgiveness not in the cards
By VOA,
1146, June 3, 2020 (EAT)
As China tightens its belt economically in response to the coronavirus, African leaders are anxious about the future of infrastructure projects, trade...
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Equity quarterly profit falls to Ksh.5.3 billion
By Kepha Muiruri,
808, May 29, 2020 (EAT)
Equity Group has posted a reduced Ksh.5.3 billion quarterly profit from Ksh.6.2 billion in 2019. The reported 14.5 percent drop in profit between J...
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75% of Kenyan SMEs stare at total collapse by end of June
By Kepha Muiruri,
1618, May 28, 2020 (EAT)
Three quarters of all small and medium enterprises (SMEs) are staring at a total collapse by the end of June as cash-flows shrink. Central Bank of ...
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Absa quarterly profit rises to Ksh.2 billion
By Kepha Muiruri,
1218, May 28, 2020 (EAT)
Absa Group has posted a 5.3 percent growth in net profit for the first three months of the year to Ksh.2 billion from Ksh.1.9 billion in March 2019. ...
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CBK leaves benchmark lending rate at 7 percent
By Kepha Muiruri,
1817, May 27, 2020 (EAT)
The Central Bank of Kenya (CBK) has retained the benchmark lending rate at seven percent breaking the recent cycle of cuts to support the economy. ...
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Kenya’s commercial debt has grown by 750 percent for the last 10 years
By Kepha Muiruri,
1239, May 26, 2020 (EAT)
Kenya’s appetite for commercial debt grew by over eight times or an equivalent 750 percent in a decade from June 2010 to March 2020. The data con...
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Can prostitution, the world’s oldest profession, survive the age of social distancing?
By CNN,
1242, May 26, 2020 (EAT)
Don't kiss. Tell clients to wash their hands before they touch you. Wear a mask. Avoid face-to-face positions. And even: Put on a nurse costume and pu...
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Commercial banks stock of bad loans rise to a 13.1 percent high
By Kepha Muiruri,
1519, May 25, 2020 (EAT)
The quality of assets inside Kenyan banks has continued to deteriorate this year with the stock of bad loans held surging to 13.1 percent in April. ...
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Co-op Bank quarterly profit flat at Ksh.3.6 billion
By Kepha Muiruri,
1439, May 22, 2020 (EAT)
The Co-operative Bank of Kenya has announced a a flat growth in profit after tax for the first three months of 2020 at Ksh.3.6 billion. Profit in t...
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NBK lifts KCB quarterly profit to Ksh.6.3 billion
By Kepha Muiruri,
1006, May 21, 2020 (EAT)
KCB Group’s recent acquisition of the National Bank of Kenya (NBK) made the difference as it marked an 8.6 percent growth in profit for the first qu...
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Debt dilemma as Kenya must now spend its way out of Covid-19 pandemic
By Kepha Muiruri,
957, May 21, 2020 (EAT)
Kenya could be set for an even higher debt stock as its development partners back additional spending amidst the Covid-19 pandemic. Even as falling...
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NCBA Group records Ksh.2.4B pre-tax profit for quarter ending March 31
By Citizen Reporter,
1249, May 20, 2020 (EAT)
The NCBA Group PLC (NCBA) has recorded a pre-tax profit of Ksh. 2.4billion for the quarter ending March 31, 2020. Total operating income for the qu...
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Kenya receives Ksh.107B World Bank loan to strengthen budget
By Kepha Muiruri,
1832, May 20, 2020 (EAT)
The World Bank Board has approved the disbursement of a Ksh. 106.7billion ($1 billion) loan to Kenya from its Development Program Operations (DPO) kit...
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Stanbic Bank quarterly profit falls to Ksh.1.5 billion
By Kepha Muiruri,
1438, May 16, 2020 (EAT)
Stanbic Bank Kenya has announced a reduced Ksh.1.5 billion profit for the period running January 1 to March 31 ,2020. The 35 percent slack in earni...
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Coronavirus pandemic deepens Kenya’s debt wound
By Kepha Muiruri,
1204, May 14, 2020 (EAT)
The Covid-19 pandemic has added salt to Kenya’s long existing debt wound pushing the country closer to the edge of the cliff. This is as the glob...
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Kenyan banks forecast drop in new loans as Covid-19 pandemic impacts sector
By Kepha Muiruri,
1444, May 12, 2020 (EAT)
Local banks expect new loan accounts to shrink significantly in 2020 as the industry prices in the impact of the Covid-19 pandemic. According to a ...
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Top banks restructure Ksh.176 billion customer loans in cushion against Covid-19
By Kepha Muiruri,
1119, May 8, 2020 (EAT)
Seven of Kenya’s largest banks have restructured a combined Ksh.176 billion worth of customer loans to cushion clients against the Covid-19 pandemic...
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Covid-19: Europe’s leading global airline is losing $1 million an hour and needs a bailout
By CNN,
947, May 6, 2020 (EAT)
Lufthansa is locked in crunch talks with the German government on the terms of a rescue deal, as it fights to avoid bankruptcy while keeping state inf...
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CBK mulls Ksh.100B plan to cushion SMEs against pandemic
By Kepha Muiruri,
1916, April 30, 2020 (EAT)
The Central Bank of Kenya (CBK) says it is working with member banks on a scheme to cushion micro, small and medium enterprises (MSMEs) against shocks...
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