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 […]

Following closely to a trend that saw Nakummatt supermarkets close shop, Suppliers who are still recovering from non-payment after Nakumatt’s collapse cost them KSh 18 billion have asked the Kenyan government to intervene in the matter of payments owed by Tuskys supermarket to them as they believe that the chain […]

In line with the Finance Bill 2020 that has now removed LPG from tax-exempt goods with the new value-added tax (VAT) charge in what is set to push it out of the reach of most households struggling with depressed incomes. Currently, the 13-kilogram cooking gas retails at between Sh2,100 and […]

Japan’s Honda Motor Co has resumed production at automobile and motorcycle plants in the United States, China, Turkey, India, and other countries after they were hit by a suspected cyber-attack this week, a spokesman said on Friday. The suspected attack comes less than a month after Honda reopened its North […]

The budget presented in parliament yesterday indicates the ICT sector received a total of Sh19.5b, down from Sh20.5b allocated earlier following rationalization by Treasury in response to the harsh economic environment arising from the coronavirus pandemic. Out of the budget, Sh10b has been allocated for ICT infrastructure development, Sh2.3b for e-government […]

Regional partner states have adopted the EAC electronic cargo and driver tracking system in a bid to enhance information sharing on trucks across the bloc as well as ease congestion and improve the safety of the goods on transit at the different entry border points. The system, which according to […]

The Kenya Revenue Authority (KRA) has begun paying out Ksh. 10 billion in VAT refunds following a presidential directive and release of funds by National Treasury to cushion businesses against the impacts of Covid-19. The refunds are expected to offer financial relief to businesses worst hit by the Covid-19 pandemic […]