BUSINESS NEWS
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The path to recovery of the embattled retail chain Nakumatt has taken a new twist after the court’s appointed administrator, Peter Kadhi accused Chief Executive Officer (CEO) Atul Shah of playing part in the loss of Sh18 billion.
Kahi said Shah wrote off suppliers’ stock worth Sh18 billion without…
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US Under Secretary for International Trade Gil Kaplan is set to lead a delegation of American businesspeople to Kenya next week.
Speaking during her maiden press briefing on Wednesday, State House Deputy Spokesperson Kanze Dena said the aim of the visit by the US team is to deepen investment in the…
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Kenya telecommunication giant Safaricom has opposed tax increase on mobile money transfer proposed by Treasury Cabinet Secretary Henry Rotich.
While reading 2018/2019 budget statement in Parliament last Thursday, Rotich proposed to increase excise duty on mobile cash transfer services from 10% to…
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Equity Bank is set to launch new high-class branches targeting rich Kenyans depositing a minimum of Sh200,000 at a time.
The move will bring the number of such exclusive banking outlets to 20 from the current 16 across the country.
The lender's new plan aims at growing its deposits and loan book,…
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A section of Members of Parliament have vowed to shoot down plans by the National Treasury to repeal the interest rate cap law that gave Kenyans access to cheap loans from banks.
While reading 2018/2019 budget statement at the National Assembly on Thursday, Treasury Cabinet Secretary Henry Rotich…
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The government has reassured rich Kenyans who have hidden their cash and assets abroad that they will not be pursued if they return them to the country.
National Treasury Cabinet Secretary Henry Rotich said government will not scrutinize how they acquired the wealth if they willingly bring it back…
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There were winners and losers in the Sh3.07 trillion 2018/2019 financial year budget unveiled by Treasury Cabinet Secretary Henry Rotich on Thursday.
Local manufacturers of steel, textile and timber are among the biggest winners of the record budget. In the spirit of promoting local manufacturers…
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Kenya’s public debt has hit Sh5 trillion mark for the first time, raising questions over the country’s ability to sustain the load in long term.
As at February this year, Kenya's total outstanding external debt stood at Sh2.563 trillion, while Sh2.448 trillion is owed to local lenders, making a…
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Treasury Cabinet Secretary Henry Rotich has announced the state will revise the interest rates capping law that took effect in September 2016, a move that will put to an end access of cheap loans by Kenyans.
In what could see local lenders return to high profits again, Rotich said the move is…
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The government is set to impose increased taxes in mobile money service in the coming financial year in a proposal by Treasury Cabinet Secretary Henry Rotich in the Sh3.074 Trillion 2018/2019 budget.
While reading the budget statement in Parliament on Thursday, Rotich proposed to increase excise…
