The 2020 Finance Bill sailed through the floor of the National Assembly as Members of Parliament shot down proposals by Treasury to raise taxes from pensioners and LPG gas. In the vote subjected to the committee of the whole house, the Members of Parliament elected to keep the majority of […]

Equity Group has canceled the proposed transaction for the acquisition of Atlas Mara banking businesses in Rwanda, Tanzania, Zambia, and Mozambique. In a notice issued Tuesday, the bank said it has mutually agreed to terminate ongoing discussions highlighting shocks brought forth by the COVID-19 pandemic. “By way of update, Equity […]

Kenya has topped Angola as sub-Saharan Africa’s third-largest economy in dollar terms, according to the International Monetary Fund estimates. Angola has contracted every year since 2016 as oil output declined, and the kwanza was devalued in 2019 while Kenya’s shilling held steady. The COVID-19 pandemic and restrictions to limit its spread will […]

Cytonn Investments has launched a digital subsidiary Cytonn Fintech. Cytonn Fintech is spearheading entry into digital business for the company where by clients will have an easy time to transact on their mobile phones. The property developer’s Chief Executive Edwin Dande said investors in the Cytonn money market fund (CMMF) […]

The global poverty is set to rise above one billion people once again as a result of the coronavirus pandemic, which is reducing the income of the world’s poorest by $500 million (Sh53 billion) a day, according to new research published Friday. The research by King’s College London and the […]

Raphael Lekolool is the new managing director of Kenya Post Office Savings Bank (Postbank) effective June 1, ending a three-month delay in the recruitment process. Activist Okiya Omtatah had sued the bank over the delay in replacing Ms. Anne Karanja whose term initially ended in August. The extension of Ms. […]

Emirates SkyCargo, the freight division of Emirates has announced the resumption of its scheduled cargo services to Eldoret. The route will be served by Emirates’ Boeing 777-300ER aircraft, twice a week, this is in addition to the airline’s passenger freighter service to Nairobi. Emirates Cargo Manager, East Africa, Mr. Saeed […]

The Central Bank of Kenya (CBK) has postponed the Afro-Asia Fintech Festival 2020 that was scheduled for July this year, to July next year over the coronavirus pandemic. In a statement, CBK says it arrived at the decision following careful consideration of the pandemic and the utmost importance of the […]

Metropolitan National Sacco house cleaning’ exercise to rid itself of non-performing loans (NPLs) has started paying off after the Sacco which covers mostly teachers recouped over Sh100 million shillings. A few years ago, the Sacco was experiencing financial difficulties caused by non-performing loans amounting to Sh1.2 billion. The raft of […]