- Insurance firms have trimmed their holdings of quoted ordinary shares to Ksh.25.3 billion in the period ending June 2022 in the face of turmoil in the equities market.
- Local investors in government securities have heavily snubbed re-opened bond issues this month as Treasury taps a mere Ksh.15.1 billion from a target of Ksh.40 billion.
- Kenya, which is among six countries selected to participate in the pilot phase of the AfCFTA Initiative on Guided Trade, exported its first goods under the African the Africa Continental Free Trade Area (AfCFTA) agreement to Ghana in late June.
- Apple (AAPL.O) will have to change the charger for its iPhones in the European Union from autumn 2024 to comply with new rules introducing a single charging port for most electronic devices.
- KCB Bank Kenya and e-mobility firm BasiGo have reached a deal through which the lender will provide financing options to buyers of electric buses in the PSV industry.
- Financial services providers will resume their access of borrowers credit information from Credit Reference Bureaus (CRB) from Saturday as a freeze instituted a year ago lapses.
- The cost of living has remained at a five year high for the third straight month with September inflation coming in at 9.2 per cent, a new high for the five-year period from 8.5 per cent in August.
- The Central Bank of Kenya (CBK) has paid Ksh.4 billion to the consolidated fund at the National Treasury representing the reserve’s bank equivalent dividends for the 2021/22 year.
- 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.
