Feb 26, 2023 -3 min read President William Ruto's government is counting on concessional loans to retire the short-term expensive loans that have worsened Kenya's cost of servicing debt. The Public Finance Management Act requires the Treasury to update Parliament on all loans contracted by the ...
In 2023 the market witnessed three increases in interest rates induced by the Central Bank of Kenya (CBK), with the last one coming on December 5, giving borrowers and lenders something new to think about given the rate of loan defaults that had by October hit levels last seen...
“It is a great honour to be appointed to steer the strategic vision of UBA Kenya as a subsidiary of the UBA Group. I look forward to carrying on the growth trajectory of UBA Kenya,” said Ms Mulili. She becomes the sixth CEO in 11 years to head UBA Kenya, including the two who s...
Ultimately, these monetary policy changes in Kenya carry significant implications for the everyday lives of Kenyans, impacting the cost of borrowing, business operations, and the overall cost of living. While aiming for long-term economic stability, these changes pose substan...
The Kenya Revenue Authority (KRA) increased duty on imported cars to 35 percent from the previous 25 percent, setting the stage for the latest wave of price increments amid the weakening of the shilling. The 10-percentage point rise on import taxes has also ended up increasing the other tax...
“Ordinarily, the government needs to map out its refinancing plans early enough and this means by 2023 external events will be pivotal,” said Mr Ogutu. To repay the Eurobond, Kenya needs to take another loan to retire the maturing one. ...
Kenya’s tax-to-GDP ratio has been on a downward trajectory after the country implemented policies that have ended up narrowing the tax base.
“We are navigating a complex operating context in Kenya with Mobile Termination Rates (MTR) reduction, fiscal pressure (increased taxation), increased regulatory scrutiny, customer acquisition/subscriber registration, changes and the return to charging on the bank to/from M-Pesa transactions...
Aug 30, 2023 -3 min read Read:Affordable housing: A real shot at home ownership or hot air? Workers in the informal sector were estimated at 15.96 million in 2022, accounting for 83.39 percent of 19.14 million total workforce, according to the Kenya National Bureau of Statistics....
Simon Gicharu, chair of the National Association of Private Universities in Kenya (Napuk), says the shift to only fund needy students will create an equal playing field for private and public universities to compete for the learners based on facilities and fee rates. ...