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City Hall bans new matatu saccos in decongestion drive
* * Economy All Stories Economy Kenya closes border with Somalia in Lamu Economy City Hall bans new matatu saccos Economy State drafts law to unlock funding to bankrupt firms Economy
Banking & Finance
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AFC gives farmers more time to clear loans
Companies AFC gives farmers more time to clear loans Monday, June 10, 2019 20:20 By STEVE NJUGUNA The Agricultural Finance Corporation (AFC) has said it will not write off loans advanced to farmers but will instead give them more time to clear the facilities. Board chairman Franklin Bett noted
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Regulator bans use of sacco name for briefcase outfits
News Regulator bans use of sacco name for briefcase outfits Monday, June 10, 2019 11:24 By JAMES KARIUKI Scores of savings and credit societies (saccos) operating without proper registration face imminent closure in draft regulations by the Savings Regulatory Authority (Sasra). The tough new rules are intended to weed
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National Bank lays off 112 employees
Companies National Bank lays off 112 employees Sunday, June 9, 2019 22:00 By VICTOR JUMA National Bank of Kenya (NBK) #ticker:NBK retrenched 112 employees who took up a voluntary early retirement offer last year in an exercise that cost the lender Sh541.2 million. The Nairobi Securities Exchange-listed
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DPO launches EA payment card
Market News DPO launches EA payment card Sunday, June 9, 2019 22:00 By JAMES KARIUKI Payment service provider DPO Group has launched a business-to-business payment card that holders can use to settle transactions in 10,000 business outlets in Kenya and Tanzania. Group chief executive Eran Feinstein said DumaCard
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NBK boss's pay rises to Sh50m as woes deepen
Companies NBK boss's pay rises to Sh50m as woes deepen Thursday, June 6, 2019 20:03 By SAM KIPLAGAT By BRIAN NGUGI National Bank of Kenya (NBK) #ticker:NBK chief executive Wilfred Musau earned a total of Sh50.25 million in the year ended December 2018, representing a
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Intelligence man takes over at KRA as CBK boss reappointed
Economy Intelligence man takes over at KRA as CBK boss reappointed Friday, June 7, 2019 11:42 By BRIAN NGUGI James Mburu, a former intelligence boss at the Kenya Revenue Authority (KRA), is set to take over the corner office at Times Towers following his appointment by Treasury Secretary Henry
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Six top bank CEOs earn Sh1 billion in one year
Companies Six top bank CEOs earn Sh1 billion in one year Friday, June 7, 2019 10:52 By CHARLES MWANIKI Kenya’s six highest-earning bank chief executive officers took home a total of Sh1 billion in salaries, allowances and bonuses last year, reaping from increased profitability of the lenders even
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EDITORIAL: Draft CRB rules long overdue for borrowers
Editorials EDITORIAL: Draft CRB rules long overdue for borrowers Thursday, June 6, 2019 19:49 By EDITORIAL The draft regulations by the Central Bank of Kenya, requiring lenders to give borrowers a 30-day notice before forwarding their names for listing with the credit reference bureaus (CRBs) could not have come
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Moi University sacco fights sale of building
Counties Moi University sacco fights sale of building Thursday, June 6, 2019 21:00 By STANLEY KIMUGE Members of the troubled Moi University Sacco Thursday staged a demonstration in Eldoret town to oppose the planned sale of Musco Towers without their involvement. They claimed they spent Sh400 million through savings
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EDITORIAL: Heed CBK advisory - Business Daily
Editorials EDITORIAL: Heed CBK advisory Wednesday, June 5, 2019 20:24 By EDITORIAL The Central Bank of Kenya (CBK) has warned of imminent collapse of the National Bank of Kenya (NBK) should the planned takeover by the KCB Group fail. Being the banking sector regulator, CBK is a competent authority
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Bank agents put on watch-list
Economy Bank agents put on watch-list Wednesday, June 5, 2019 20:49 By EDWIN OKOTH More than 60, 000 bank agents have been placed on a watch- list as avenues for cleaning illicit money. The agents, who in 2017 handled transactions worth Sh1.07 trillion, could become easy conduits for