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CBK Governor downplays concerns on weakening shilling

The Central Bank of Kenya (CBK) has eased concerns on the shilling’s value quelling fears to the volatility of the local unit. The shilling for instance on Monday breached the Ksh.102 mark against the US dollar for the only second time in 2019 before settling at an average Ksh.101.90...

Central Bank says no extension of Ksh.1000 note withdrawal deadline

The Central Bank of Kenya (CBK) has ruled out any extensions to the demonetization deadline set for October 1, 2019. Speaking at a news conference on Thursday, CBK Governor Patrick Njoroge said any step away from the present window of exchange would fail the purpose of the demonetization directive...

National Assembly now wants Kenya Airways nationalised

The National Assembly’s Transport Committee has shot down the proposed take over of Jomo Kenyatta International Airport by national carrier Kenya Airways and in its place recommended that the airline be nationalized. The committee, in the report, noted that taking into account KQ’s financial health, the government and the...

Demonetization effects filter into value of Kenyan shilling

The value of the Kenyan shilling has continued its recent slide against the US dollar breaching the Ksh.102 mark for only a second time this year, signalling renewed concerns to the wellness of the local unit. The shilling which, for instance, averaged Ksh.102.00 to the green buck at the...

Urithi dismisses financial crisis reports

Urithi Housing Cooperative Society Limited has come out to allay fears that it is facing a financial crisis and is headed for collapse. This is after a local daily reported that Urithi’s key housing venture, Panorama Gardens, was set to be auctioned after the organization allegedly defaulted on loan...

Lands Ministry eases Tatu City, Kiambu County Gov’t row

The Lands and Physical Planning Ministry has declared the geographical area under Tatu City as a special planning area putting brakes on the recent row pitting the mega-city developer and county of Kiambu. The grant of the special planning area status – which is defined as an area cutting...

UK bans advertisements with gender stereotypes

Depictions of girls as less academic than boys, men being belittled for “unmanly” behavior, and an array of other cliched portrayals have been consigned to history in British commercials as new rules come into effect banning gender stereotypes in advertising. The changes, announced in December and enforced from Friday...

National Bank postpones key vote on takeover by KCB

The board of the National Bank of Kenya (NBK) postponed the key vote on the lender’s proposed takeover by KCB Group on Friday. This as the bank’s management chose to instead subject the conversion of its preferential shares to shareholders, a pre-condition for the completion of the proposed takeover...

Petrol prices up by Ksh3.07 in latest ERC review

The Energy Regulatory Commission has announced new fuel pump prices that will see the cost of Super Petrol go up by Ksh.3.07. Diesel prices will also increase by Ksh.0.39 while Kerosene will now be sold at a lower price by Ksh.2.96 per litre. “The changes in this month’s prices...

Critics bemoan New York Times’ decision to stop running editorial cartoons

A month and a half after The New York Times errantly published an anti-Semitic cartoon in its international edition, the newspaper has decided to do away with editorial cartoons altogether. The decision was revealed when one of The Times’ cartoonists, Patrick Chappatte, published a blog post linking the paper’s...

Equity follows up Ethiopia interests with new representative office

Equity Group has set up a commercial representative office in Ethiopia following the grant of license to commence operations. The new office is anchored on the lender’s continental drive which seeks to transform the group into a continental bank. “Having completed phase one of our expansion, the entry into...

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

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 substantive gain to Mwananchi, experts reckon. While the lack of any solid relief to the average Kenyan was highly anticipated under the now fiscal consolidation straight...

More borrowing expected as Treasury seeks to avoid tax increase

The National Treasury is expected to issue measures resulting in a domestic revenue increase estimated at Ksh.400billion over the next financial year to stay within bounds of the approved Ksh.3.02 trillion budget estimates. An analysis of the approved budget by parliament’s budget and appropriations committee and the initial budget...

Talks on county funds stall three hours to Rotich’s budget reading

Talks are rife on the legality of Treasury Cabinet Secretary Henry Rotich tabling the Ksh.3.02trillion budget on Thursday afternoon. Three hours to the scheduled tabling of the budget in Parliament, the mediation committee was yet to to agree on the Division of Revenue Bill. “The talks have stalled meaning...

IMF disburses Ksh.25B loan tranche to Tunisia

The International Monetary Fund (IMF) has approved the payment of a $247million (Ksh25billion) loan tranche to Tunisia. This is the sixth under its loan program with the North African country, Minister of Reforms Taoufik Rajhi told Reuters. Tunisia struck a deal with the IMF in December 2016 for a...

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

Treasury CS Henry Rotich is expected to table the State’s Ksh.3.02trillion budget projections on Thursday afternoon. He will be bringing the government budget’s financing options to the table. The budget policy statement is by now all figured out pending the crossing of t’s and the dotting of the i’s...

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

Centum Investment Limited has entered an agreement which if successful will see the firm relinquish its entire stake in the soft drinks business to Coca-Cola. The signed agreement is expected to see the sale of Centum’s total combined stake in Almasi Beverages and Nairobi Bottlers Limited to Coca-Cola Beverages...

KHRC says budget should not be tabled on Thursday

The Kenya Human Right Commission has moved to court seeking to block tabling of Budget estimates set for Thursday. The commission on Wednesday said that the Division of Revenue Bill is yet to be passed. “KHRC has moved to court to stop the tabling of the budget estimates considering...

New rules bar Kenyans from exchanging gas cylinder brands

Gas cylinder brand owners should only accept tanks that they own for refills or maintenance. According to the Energy and Petroleum Regulatory Authority (EPRA), the move will help curb cases of illegal refilling and unauthorised rebranding. “The unified valve for domestic LPG cylinders will remain but replace the mandatory...

China ready for trade talks with East Africa bloc – envoy

China is ready to negotiate a trade deal with the six-nation East Africa Community (EAC) to address Kenya’s complaints about a huge trade imbalance in favour of the Asian economic giant, China’s ambassador to Nairobi told Reuters. Kenyan officials said the government was not ready to discuss a free...

Government bond M-Akiba offering slides to 75 percent

M-Akiba, Treasury’s mobile traded bond, has hit a subscription rate of 75 percent to register a Ksh.187.5million uptake at close of sale on Friday. The performance of the recently closed fourth issue is however representative of a marginal slide in subscription from the preceding Ksh.197 million snapped up in...

Nairobi to host first Africa Business Ethics Conference

Nairobi is expected to play host to the inaugural Africa Business Ethics Conference in June this year. The two-day conference will run from June 25 to 26 and brings together members of the private sector, government, media and the civil society to discuss practical solutions for the private sector...

Kenyan currency no longer accepted in Ugandan Banks: BOU

Banks in Uganda will no longer accept Kenyan currency at the counter. A statement from Uganda’s Central Bank said the move is aimed at boosting Kenya’s fight against counterfeits and illici flows. “The Central Bank of Kenya has informed Bank of Uganda that they have issued a new series...

Apple monitor stand that costs more than an iPhone sparks online uproar

Apple product launches always get buzz, but one new gadget announcement has left some people bemused: a monitor stand that costs nearly as much as some computers. At its annual Worldwide Developer Conference in San Jose this week, Apple (AAPL) revealed a collection of new products, including a monitor...

Ford to close Wales engine plant in latest blow to UK car sector

Ford said it would close its plant in Bridgend, South Wales, next year because of falling demand for some of its engines, putting 1,700 jobs at risk in a further blow to Britain’s once-booming car industry. Ford is making cuts in several markets to turn around loss-making operations and...

Nairobi’s own revenue system opens to a false-start

The Nairobi County Government’s self-initiated fears on the collapse of its new revenue management system were realised on Monday as a majority of motorists faced distress in their transition to the new platform. Having cut ties with service provider Jambopay on Friday, the county had hoped for a smooth...

Tatu City unveils health and fitness running trails

More than 200 joggers and fun-seekers braved a chilly and wet morning to turn up for the official launch of the running trails at Tatu City. The construction of the 100-kilometer running trails that is set to begin immediately is a joint venture by Tatu City and renowned Kenya...

Exclusive: Facebook suspends app pre-installs on Huawei phones

Facebook Inc is no longer allowing pre-installation of its apps on Huawei phones, the latest blow for the Chinese tech giant as it struggles to keep its business afloat in the face of a U.S. ban on its purchase of American parts and software. Customers who already have Huawei...

Role of blockchain in the face of cyber threats

Blockchain technology is fast gaining acceptance all over the world. This sudden change of fortune for technology that has been in existence since the release of the first bitcoin white in 2008 by Satoshi Nakamoto has been fuelled by cyber threats. The threats are posed to data stored on...

China issues 5G licenses in timely boost for Huawei

The approvals will trigger investment in the telecommunications sector which will benefit top vendors such as Huawei Technologies, just as the Chinese network equipment provider struggles to overcome a U.S. blacklisting that has hurt its global business. State-owned carriers China Mobile, China Unicom and China Telecom , as well...
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Kenyans on social media insist that Harambee Stars will lose all the Afcon games in Egypt! See who has arrived in Cairo to cheer...

Thursday June 20, 2019 – Kenya’s national football team, Harambee Stars, arrived in Egypt on Wednesday for the 2019 Africa Cup of Nations tournament...

RAILA ODINGA’s tricks that could hand RUTO the Presidency in 2022 on a silver platter come 2022 – Baba will regret doing this to...

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Mafikizolo’s Nhlanhla breaks up with flamboyant husband after 15 years of marriage

Mzansi music celebrities, Nhlanhla and TK Nciza, have decided to part ways after 15 years of marriage. Nhlanhla shared a short announcement on her...

Nairobi Woman Rep Esther Passaris reveals she took 16-year-old daughter to get birth control pills

Nairobi Women Representative Esther Passaris has admitted to introducing her 16-year-old daughter to birth control pills. The mother and politician said it is a...

Presidential hopeful arrested with bhang worth Ksh.13M

Police in Marsabit County on Wednesday arrested a presidential hopeful and Isiolo businessman over possession of bhang worth Ksh.13 million. According to police,...
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