- Unga Group Plc has posted a narrow 6.1 per cent growth in profitability for the year ended June 30 to Ksh.311.4 million from Ksh.293.5 million last year.
- The National Social Security Fund (NSSF) has seen defaults from tenants in its rental properties climb above Ksh.1 billion as of the end of June 2021.
- President William Ruto has ordered the National Treasury to cut Ksh.300 billion from the 2022/23 budget to relieve Kenya’s spending and borrowing pressures.
- Kenyan fresh produce exporters have been urged to take advantage of the Kenya-UK economic partnership that was signed in January 2020 in order to increase the country’s market share in UK’s fresh produce imports.
- President William Ruto has backed the assigning of credit scores to borrowers in a push to end the blacklisting of borrowers by Credit Reference Bureaus (CRBs).
- Sidian Bank is working with U.S. International Development Finance Corporation (DFC) and the U.S. Agency for International Development (USAID) to grow the healthcare sector in Kenya by expanding access to finance for small- and medium-sized enterprises (SMEs).
- The Kenya Development Corporation (KDC) has mulled issuing a corporate bond as it seeks to mobilize funding to support small and medium enterprises (SMEs).
- Utility company Kenya Power has unveiled plans to switch to electric vehicles while phasing out fossil-fuel powered vehicles and motorbikes from its fleet.
- Mobile operators generated revenues of Ksh.315 billion last year from services to represent a 12.5 per cent increase in turnover from Ksh.280.1 billion 2020.
- Commercial banks represented by the Kenya Bankers Association (KBA) has called for the hold of interest rate at Thursday’s Monetary Policy Committee meaning (MPC).
- In a letter addressed to the Retail Traders Association of Kenya, KEBS last Wednesday ordered a recall of 10 edible oil and cooking fats brands due to alleged non-compliance with set standards.
- The Kenya Revenue Authority (KRA) has extended the deadline of transitioning to the Tax Invoice Management System (TIMS) to November 30 from September 30.
- The CBK has reported that Saudi Arabia is now the third largest source of remittances to the country despite the rising cases of domestic abuse of migrant workers.
- Commercial banks are expected to queue up first as the administrator of the beleaguered Mumias Sugar Company works to resolve the miller’s accrued debts.
- The Central Bank of Kenya (CBK) expects to see greater capital outflows by foreign investors as developed economies up the ante on monetary policy tightening.
- Kenya through the Kenyatta International Convention Centre (KICC) will collaborate with Jamaica to strengthen the conference tourism sectors in both countries.
- Kenya and India have signed a Memorandum of Understanding (MOU) that establishes a foundation to support and promote trade and investment in the textile industry between the two countries.
- After the High Court lifted the freeze order on Ksh.5.6 billion linked to four Nigerian firms, Oit Africa Ltd, Avalon Offshore Logistics Ltd, Multigate Ltd and Remx Capital Ltd, the four companies claim to have lost an estimated Ksh.23 billion in turnover.
- After the High Court lifted the freeze order on Ksh.5.6 billion linked to four Nigerian firms, Oit Africa Ltd, Avalon Offshore Logistics Ltd, Multigate Ltd and Remx Capital Ltd, the four companies claim to have lost an estimated Ksh.23 billion in turnover.
- The National Social Security Fund (NSSF) has estimated a Ksh.40 billion hit in member contributions from the freeze of new pension rates by the High Court on Monday.
- The Kenya Bureau of Standards (KEBS) has retained Japanese firm Quality Inspection Inc. (QISJ) for pre-export verification of conformity (PVoC) services
- Cash transactions continue to dominate the payments space with data from the Central Bank of Kenya (CBK) showing Ksh.305.4 billion worth of notes and coins in circulation.
- The National Social Security Fund (NSSF) has raised its pay out on retirement savings to 10 per cent for the 2020/21 financial year on the backdrop of higher income in the period.
- Uber said it was investigating a cybersecurity incident after a report of a network breach that forced the company to shut several internal communications and engineering systems.
- Kenyans living and working abroad sent home Ksh.37.4 billion ($310.5 million) last month to register a slight decline in remittances from the same time last year.