- The proposed hike of the Kenya Pipeline Company (KPC) transport and storage tariffs is expected to raise fuel prices by a maximum 54 cents per litre in Nairobi.
- KCB Group has acquired a Ksh.18 billion ($150 million) loan from World Bank’s International Finance Corporation (IFC) to finance climate related projects.
- The National Treasury is expected to develop Financial Derivatives regulations ahead of a deadline that will see non-residents gains from financial derivatives taxed.
- Britam has invested the bulk of proceeds from the sale of its stake in Equity Group into fixed income as it seeks to cushion against volatility from its investments portfolio.
- The prolonged election cycle which saw a petition against the August 9 General Elections took a toll on the output of private sector firms last month.
- Major oil marketers in the country have revealed pending bills worth Ksh.59 billion from the petrol price stabilization mechanism (fuel subsidy) alongside difficulties in accessing dollars from banks.
- The cost of fuel in the country is set to tick upwards as KRA includes petroleum products in the inflation adjustments on specific rates of exercise duty.
- Teachers represented by the Mwalimu National Sacco have eased Spire Bank capital woes following their recent conversion of deposits held in the lender into share capital.
- KNBS' Consumer Price Index (CPI) data has revealed the failure of the government backed maize flour subsidy as the cost of unga rose in the month of August.
- Kenyans have had no respite in the cost of basic household commodities as the rate of inflation rose to 8.5 per cent in August from 8.3 per cent in July.
- Underwriter Britam has seen its cost cutting initiatives payoff as its half-year profit jumps 77 per cent to Ksh.667.5 million from Ksh.376.3 million previously.
- Global ratings agency S&P has affirmed Kenya’s sovereign credit ratings at ‘B’ as both a long and short-term foreign and local currency debt issuer with a stable outlook.
- Underwriter Jubilee Holdings has retained interim dividends at 20 per cent of earnings of Ksh.1 per share despite posting a 24.4 per cent net profit drop to Ksh.3.4 billion.
- To adjust interest rates, commercial banks were required to put in place a risk-based pricing mechanism assigning different interest rates to different borrowers based on customers’ inherent risks.
- NCBA Group has become the first tier one bank to announce the payment of interim dividends to shareholders as its half-year profit to June rises to Ksh.7.8 billion.
- Diamond Trust Bank (DTB) has posted a 24 per cent rise in net profit through six months to Ksh.3.6 billion in June 2022 from Ksh.2.9 billion last year.
- National carrier Kenya Airways (KQ) has trimmed its half year loss to June by 14 per cent to Ksh.9.9 billion from Ksh.11.5 billion at the same time last year.
