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‘Debt is a necessary seed that will produce harvest’ President Kenyatta...
NAIROBI, Kenya, Mar 15 – President Uhuru Kenyatta has reassured the country’s rising debt is within control and necessary to finance infrastructure projects. In his state of the nation address, the...
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Co-op Bank defies interest rates cap, grows profit by 8pc
The bank’s Chief Executive Officer Gideon Muriuki says the performance indicates the new strategy is working and will propel the bank to greater heights despite a tough operating environment/COURTESY...
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Solar solutions provider to open 20 stores in Kenya
Mobisol’s East Africa’s Chief Executive Officer Henrik Axelsson says the firm is banking on Kenya’s economy that is growing best compared to its peers in sub-Saharan Africa/COURTESY NAIROBI, Kenya, Mar...
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Equitel mobile loans grows 6 times to hit Sh38.5Bn
Equity Bank CEO James Mwangi said the digitization strategy continued to bear fruit for the Bank as the Group rolled out tools that deepened financial inclusion and broadened access/FILE NAIROBI,...
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Kenya Power maintains 5.9 million homes connected to the grid
Tarus says the number of customers connected to the national grid has been growing steadily over the last five years/AFP NAIROBI, Kenya, Mar 20 – Kenya Power has confirmed that 5.9 million customers...
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Kenya Breweries invests Sh300Mn in a water treatment plant
KBL uses 6 to 8 million litres of water daily in the factory for cleaning cooling, hearting and pasteurizing/FILE NAIROBI, Kenya, Mar 21 – Kenya Breweries Limited (KBL) has invested Sh300 million in a...
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SGR passenger train to have express and inter-county service lines
Kenya Railways has received another batch of locomotives and rolling stock including 3 passenger locomotives, 8 passenger coaches, and 120 open-top wagons/FILE MOMBASA, Kenya, Mar 20 – Two passenger...
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DTB poised to acquire Habib Bank
Nasim Devji, DTB CEO NAIROBI, Kenya, Mar 21 – Consolidation has continued to categorize the struggling banking sector in Kenya with the new transaction being Diamond Trust Bank (DTB) that is set to...
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Sanlam Group acquires majority stake in Pinebridge Investments, rebranding to...
Sanlam Emerging Markets Regional Executive for East Africa Mr. Julius Magabe (left) flanked by Sanlam Group CEO Ian Kirk and Sanlam Kenya Group CEO Mr Mugo Kibati (right), displaying the Sanlam Kenya...
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Rate capping not to blame for depressed private sector borrowing, analysts say
Kenya Bankers Association Chief Executive Habil Olaka. Bankers say the downward trend of credit to the private sector is showing signs of being exacerbated by the capping of interest rates/FILE...
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TFC seeks investors for international conference centre in Mombasa
Nairobi has for long been the country’s conferencing hub with its industry revolving around the Kenyatta International Conference Centre/FILE NAIROBI, Kenya, Mar 27 – Plans to build a multimillion...
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Government might consider scrapping interest rate capping
Treasury Cabinet Secretary Henry Rotich says the continued decline of credit access to the private sector is a major concern but added it is still too early to intervene/FILE NAIROBI, Kenya, Mar 27 –...
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Banks too quick to blame rate capping to sector woes, CBK Governor says
Even the lack of rains is being blamed on the Interest Rate cap, let’s not be so accepting on this blame,” Njoroge said./FILE NAIROBI, Kenya, Mar 28 – The Central Bank of Kenya (CBK) Governor Patrick...
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CBK keen to get Chase Bank back on its feet
Chase Bank was placed under receivership in April 2016 following a bank run after reports of its liquidity hurdles gained traction online/FILE NAIROBI, Kenya, Mar 28 – The Central Bank of Kenya is...
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Family Bank posts Sh664 million in a challenging year
Thuku: The sustained social media attacks which led to significant withdrawals took a further toll on our profitability. NAIROBI, Kenya, Mar 29 – Family Bank has posted Sh664 million pretax profit for...
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Samsung opens premium experience store at Two Rivers Mall
Also in the offing is an exclusive hire purchase service that will be available at the store and dial-a-service facility. NAIROBI, Kenya, Mar 29 – Samsung Electronics East Africa has opened an...
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Pesalink app signs up 2 million customers in 60 days
IPSL Chief Executive Officer, Jennifer Theuri says they hope to raise the number of banks using Pesalink in the next few weeks NAIROBI, Kenya, Mar 30 – Pesalink, the newest money transfer service owned...
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Betting and gaming industry biggest losers in 2017/18 budget
Rotich attributes the move to the negative consequences the industry has caused to young Kenyans, though it is not clear if winnings will be taxed./FILE NAIROBI, Kenya, Mar 30 – The Betting, Lottery,...
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Africa Spirits welcomes tax measures on alcoholic beverages
ASL Managing Director, Chris Lucas said the EGMS system, when properly implemented, would be a big win towards the fight against counterfeits and illicit liquor. NAIROBI, Kenya, Mar 31 – Africa Spirits...
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Treasury to collapse its multiple accounts to one based at CBK
The proposed Single Account will be housed at the Central Bank of Kenya/FILE NAIROBI, Kenya, Mar 31 – The government will operationalise treasury single account starting July 2017 as it seeks to...
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