Treasury warns of painful cuts to Ministry budgets

By Kepha Muiruri,

The National Treasury has urged Ministries and State Departments (MDAs) to brace for painful budget cuts as the budget making process for the 2020/21 ...

2020/2021 budget , National Treasury , recurrent expenditure

Equity Group doubles presence in DRC with new acquisition

By Kepha Muiruri,

Equity Group has moved to strengthen its Democratic Republic of Congo (DRC) banking business with a new proposed purchase of a controlling stake in th...

Equity Group , James Mwangi , mergers and acquisitions

Consolidated Bank bond holders agree to revised payment date

By Kepha Muiruri,

Consolidated Bank bond holders have voted to side with the lender’s pushed repayment of their Ksh.1.6 billion, seven-year held maturing notes plus i...

consolidated bank

CBK approves KCB’s acquisition of National Bank of Kenya

By Kepha Muiruri,

The Central Bank of Kenya (CBK) has approved the 100 percent share capital acquisition of the National Bank of Kenya (NBK) by the KCB Group. The re...

CBK , CMA , KCB , NBK

HF Group posts Ksh.97 million half-year loss

By Kepha Muiruri,

The Housing Finance (HF) Group has reported a Ksh.97 million loss for the first six months of operations in 2019. The loss which is against a narro...

Housing Finance

KCB seeks Parliament’s indulgence on NBK purchase

By Kepha Muiruri,

KCB has now sought for the indulgence of Parliament in relation to the company’s experienced stumbling blocks in its quest for the full acquisition ...

KCB Group , National Bank of Kenya (NBK)

Jubilee eyes strong firms in strenuous market

By Kepha Muiruri,

Top insurer Jubilee is keen to consolidate on its market position in underwriting through mergers and acquisitions. This as the insurance industry ...

Jubilee Holdings

Global money-laundering watchdog launches crackdown on cryptocurrencies

By Reuters,

Cryptocurrency firms will be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering, a global watchdog said on ...

crackdown on cryptocurrencies , cryptocurrency , money laundering

Budget 2019: Treasury misses the mark, no relief for Kenyans

By Kepha Muiruri,

Treasury CS Henry Rotich's presentation on the financing of the 2019/20 budget estimated at Ksh.3.02 trillion has missed its mark in providing any sub...

2019 budget , capital gains tax , Henry Rotich , National Treasury , sin tax

Rotich to table Ksh.3T budget amidst discontent over Kenya’s growing debt

By Kepha Muiruri,

Treasury CS Henry Rotich is expected to table the State’s Ksh.3.02trillion budget projections on Thursday afternoon. He will be bringing the gove...

budget , Henry Rotich , National Treasury

Centum to sell soda business stake to Coca-Cola in Ksh.19B deal

By Kepha Muiruri,

Centum Investment Limited has entered an agreement which if successful will see the firm relinquish its entire stake in the soft drinks business to Co...

Almasi Beverages , Centum Investment , Coca-Cola Beverages Africa , James Mworia

Dr. Jonah Magare accused of trying to defraud father of Ksh.20M

By Agnes Oloo,

Dr. Jonah Onentiah Magare, a senior Health Ministry official, was on Monday charged with attempting to defraud his father of land valued at Ksh.20mill...

magare

Uhuru orders release of cargo lying at Embakasi depot

By Benjamin Muriuki,

President Uhuru Kenyatta has ordered the release of all cargo lying at the Inland Container Depot (ICD) in Embakasi within the next three weeks. Ke...

Embakasi depot , Uhuru kenyatta

Kenya Airways CEO Sebastian Mikosz to step down

By Kepha Muiruri,

Kenya Airways CEO Sebastian Mikosz has announced plans to exit the airline by the end of this year. In a memo to employees seen by Citizen Digital,...

CEO Sebastian Mikosz , Kenya Airways , Mbuvi Ngunze , Michael Joseph

Court extends orders suspending 1.5% housing levy

By Dzuya Walter,

The High Court in Nairobi has extended orders barring the government from implementing the 1.5% housing levy until May 27, 2019. Justice Maureen On...

housing levy

DPP opposes NYS scam suspects’ push to have case heard by 3-magistrate bench

By Dzuya Walter,

The Director of Public Prosecutions (DPP) on Wednesday opposed an application by National Youth Service (NYS) suspects seeking to have a bench of thre...

DPP , Lillian Omollo , NYS scam , Richard Ndubai

Controversy of overvalued shilling: Why Central Banks intervene globally

By Kepha Muiruri,

An International Monetary Fund (IMF) report has ignited the debate on the true value of the Kenyan shilling. This after another study by Amana Capi...

Central Bank of Kenya (CBK) , IMF , Kenya Shilling

No employees should be sacked in CBA-NIC Group merger, banks told

By Reuters,

The Competition Authority of Kenya approved has a proposed merger between Commercial Bank of Africa (CBA) and NIC Group, the regulator said in a state...

CBA , NIC

Kenya Airways open to airport-deal alternatives

By Kepha Muiruri,

While struggling national carrier Kenya Airways (KQ) has put forth the partnership proposal to co-operate the Jomo Kenyatta International Airport (JKI...

Drought effects push inflation rate to 18-month high

By Kepha Muiruri,

The Kenya National Bureau of Statistics (KNBS) has released its monthly consumer price index for the month of April quoting inflation at 6.58 percent....