Read:President Ruto's rates cut push heralds new era Kenya also took in loans from Germany (Sh7.8 billion) and France (Sh6.2 billion) to help establish a centre for entrepreneurship including satellites together with an integrated voucher system and primarily to pay the foreign exchange costs. T...
The shilling, which has lost more than 20 percent of its value in this year, and the increase in interest rates are making the cars even more costlier. Importing a V8 car, for example, costs around $70,000. Bringing this luxury car at an exchange rate of Sh147 today would see a dea...
“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,...
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 substant...
A recent World Bank report noted that Kenya’s growth has been driven by a huge uptake of commercial loans as revenues have not kept pace with spending, leading to huge budget deficits. “The related deficits have been financed through debt with an increase in commercial borrowing,” said the...
“We have chosen to use the profit and loss (P&L) statement to support the customer by ensuring that we don’t pass the full impact of high-interest rates, inflation, and depreciation of the Kenya currency to the customers,” said Mr Mwangi. ...
In Kenya, the adoption of mobile payments skyrocketed at the onset of the Covid-19 pandemic in mid-March 2020 following the waiver of charges on low-ticket transactions that was aimed at reducing the use of cash as a measure to contain the spread of the virus. ...
The regulator had asked banks to submit new loan pricing formulas that would be the basis of setting interest rates on new credit in an environment where the government was not controlling loan...
In Kenya, there has been increased interest in e-mobility space. According to the Ministry of Transport and Infrastructure, the country has over 20 startups dealing with different aspects of e-mobility, ranging from assembling two and three-electric wheelers, and electric vehicles importing, ...
Kenya lowered the university entry marks to C+ in 2016, and the Treasury was expected to pay part of the costs for State-sponsored students admitted to private and public universities. But the lowering of the university entry mark dried up the pool of students that private universities coul...