Category: Economy&Finance
-
Kenya has been named one of the unhappiest countries in the world by a new report by United Nations. Kenya has been ranked 124th out 156 countries in the 2018 United Nations World Happiness Report. Kenya however faired well compared to its Eastern Africa counterparts, Uganda (135) Sudan (137), Rwanda (151), Tanzania(153), South Sudan (154)…
-
Treasury Cabinet Secretary Ukur Yatani has disputed reports that Kenya defaulted on payment of Chinese loans provided for the construction of the Standard Gauge Railway (SGR). Citing Treasury documents, Business Daily reported on Thursday that Chinese lenders fined Kenya Sh1.312 billion ($10.8 million) for loan defaults in the financial year ended June. But in a…
-
The government through Kenya Revenue Authority (KRA) has recovered assets worth $1.3 million (Sh140 million) stashed abroad. The illicitly acquired funds were seized through international cooperation, according to the Tax Transparency in Africa 2020 Report. The recovery follows the signing of the exchange of information (EOI) treaties on the continent over the last five years.…
-
Safaricom’s launch of “Bundle ya Deree and Ofa ya Boda Boda packages. PHOTO/MAC OTANI Boda boda riders and online taxi drivers are set to access cheaper mobile services, fuel discounts, and safety support through two new packages unveiled by Safaricom on Tuesday. The offers, named Ofa Ya Boda Boda and Bundle Ya Deree, aim to…
-
Central Bank of Kenya. PHOTO/COURTESY The Central Bank of Kenya (CBK) has successfully attained the ISO/IEC 20000-1:2018 Certification for its Information Technology Service Management (ITSM). CBK announced the achievement on Tuesday. “The Central Bank of Kenya (CBK) announces that it has successfully attained the ISO/IEC 20000-1:2018 Certification for its Information Technology Service Management (ITSM),” the…
-
Simon Bransfield-Garth and Snehar Shah. Kenya’s financial sector is staring at a technology revolution that could redefine how banks compete, reduce their costs, and attract more customers and serve them better. However, despite recognising its potential, most banks in the country are slow to adopt Artificial Intelligence (AI) hence missoing out on opportunities that abound.…
-
Simon Bransfield-Garth and Snehar Shah. Kenya’s financial sector is staring at a technology revolution that could redefine how banks compete, reduce their costs, and attract more customers and serve them better. However, despite recognising its potential, most banks in the country are slow to adopt Artificial Intelligence (AI) hence missoing out on opportunities that abound.…
-
From left: Mary Githinji, Stanley Gachoki, Rev. Erick Kalya, Oliver Kirior, Isaiah Keter and Shameer Patel. PHOTO/COURTESY I&M Bank has widened its footprint in Kenya by opening two additional outlets, one in Kapsabet, Nandi County, and another in Nyali, Mombasa County. The expansion raises the lender’s branch count to 65 in 24 counties, part of…
-
LG Seminar. PHOTO/COURTESY Kenya’s laundromat industry has recorded a 25 per cent rise in demand over the past three years, figures from Opalnet Ltd show, cementing its place as one of the fastest-expanding urban services in the country. The growth reflects Kenya’s changing lifestyle, fuelled by a 4.5 per cent annual urbanisation rate, wider access…
-
Devki Steel Mills. PHOTO/NAMAN FARAH Devki Steel Mills Limited has submitted an application to the Cabinet Secretary for Mining, Blue Economy and Maritime Affairs seeking a prospecting licence in Taita Taveta County. The company is targeting iron ore exploration within an area covering 30.7890 square kilometres, equivalent to 143 cadastral blocks. According to the notice,…