State mulls expanding mandatory insurance in Ksh.1.1 billion industry revamp plan

By Kepha Muiruri,

Kenyans could be forced to meet new compulsory insurance costs as the government moves to strengthen the local underwriting sector. The new proposa...

Insurance Regulatory Authority (IRA) , National Insurance Policy , National Treasury

Kenya pushes IMF to soften loan support terms

By Kepha Muiruri,

Kenya has pushed the International Monetary Fund (IMF) to soften terms attached to its loan support programs. The push by Kenya which preceded the ...

debt , IMF , Treasury

IMF board approves Ksh.255B loan, initial Ksh.33.5B to be issued in a few days

By Kepha Muiruri,

The International Monetary Fund (IMF) has approved a 38-month program which will see Kenya receive a total of Ksh.255.1 billion ($2.34 billion) in loa...

Eurobond , International Monetary Fund (IMF) , Kenya's debt distress , World Bank

Kenya to receive Ksh.34.5 billion IMF loan next week: CBK

By Kepha Muiruri,

Kenya is expected to receive Ksh.34.5 billion from the International Monetary Fund (IMF) next week. The loan represents the first batch of a $2.4 b...

IMF , loan

Michael Joseph: Kenya Airways nationalization is not the answer anymore

By Kepha Muiruri,

Kenya Airways (KQ) Board Chairman Michael Joseph says the proposed nationalization of the carrier is not the only way out for the struggling airline w...

Kenya Airways (KQ) , Michael Joseph , parliament

Kenya’s credit rating downgraded on debt woes

By Kepha Muiruri,

Kenya has earned yet another ratings downgrade over its rising debt vulnerabilities with the Standards & Poor's (S&P) lowering the country’s...

credit rating , Kenya's debt distress , National Treasury , Standards and Poor's

DTB to close six branches by end of October 2021

By Kepha Muiruri,

Tier I lender Diamond Trust Bank (DTB) is expected to shut six branches by the end of October as part of efforts to consolidate its physical footprint...

DTB

Kenya & IMF reach agreement on Ksh.262.7 billion 3-year loan

By Kepha Muiruri,

Kenyan authorities and the visiting team from the International Monetary Fund (IMF) have reached a staff-level agreement on the disbursement of a Ksh....

COVID-19 , International Monetary Fund (IMF) , National Treasury

Treasury CS Ukur Yatani now goes for Ksh.124 billion Eurobond

By Kepha Muiruri,

National Treasury Cabinet Secretary Ukur Yatani is set to make his debut in the international capital markets with a Ksh.123.5 billion Eurobond in the...

2021 Budget Policy Statement (BPS) , CS Ukur Yatani , Kenya's debt , National Treasury

Uhuru: Gov’t to continue creating conducive environment for businesses

By PSCU,

President Uhuru Kenyatta has said the Government is committed to continue creating a conducive environment for small-scale traders to prosper. The ...

NCDC , Uhuru

Kenya adds Ksh.1.2T to debt stock in 2020

By Kepha Muiruri,

Kenya added Ksh.1.2 trillion to its debt portfolio in 2020 as the country’s stock of debt hit Ksh.7.3 trillion in December from Ksh.6 trillion a yea...

coronavirus , debt

Kenya seeks Ksh.154B World Bank, IMF loans

By Kepha Muiruri,

Kenya is hoping to raise Ksh.154 billion in debt from the World Bank and the International Monetary Fund (IMF) before the end of June this year. Th...

International Monetary Fund (IMF) , Kenya debt , World Bank

2020 review: On public debt, it’s from the frying pan towards fire

By Kepha Muiruri,

In a nutshell, Kenya’s stock of public debt stood at Ksh.1.3 trillion a decade ago, today, this stock has climbed to Ksh.7.1 trillion as of Septembe...

2020 Year in Review , CS Ukur Yatani , National Treasury , Public debt

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

Tuskys to cut its branch network by half

By Kepha Muiruri,

Besieged retailer Tuskys has indicated plans to reduce its branch count by more than half to 25 from its current 52 stores around the country. The ...

retail in Kenya , Tuskys

Bank jobs on the line as COVID-19 wreaks havoc on industry

By Kepha Muiruri,

Bank jobs are now on the line as institutions in the industry trim costs to weather the economic impact resulting from the COVID-19 pandemic. Simil...

banks , Central Bank of Kenya (CBK) , non-performing loans

SBM to close five branches in consolidation drive

By Kepha Muiruri,

Mauritius-backed lender SBM has announced plans to shut down five of its branches as it seeks to rationalize its operations. In a notice to custome...

NCBA to fire staff as post-merger ship wobbles

By Kepha Muiruri,

Kenya’s third largest bank by asset base NCBA is set to fire staff as a response to constrained operation barely one year on from its CBA, NIC conso...

job cuts , John Gachora , NCBA

CJ Maraga lauds Kenya Law for ICT-based innovative solutions

By Citizen Reporter,

A total of 69,874 decisions from the courts have been collected and uploaded on the Kenya Law website with a track record of 100 per cent upload of le...

Maraga

Civil society groups blast big ticket infrastructure for ‘creating’ Kenya’s debt crisis

By Kepha Muiruri,

Civil society groups (CSOs) under the moniker Okoa Uchumi have faulted the government’s obsession with big ticket infrastructure projects for saddli...

debt , Okoa Uchumi , Standard Gauge Railway (SGR)