IFC in Deal to Support Small Lenders
World Bank’s private investment arm has entered into a partnership with a credit card company to help extend financial services to low-income earners. The International Finance Corporation (IFC) and the MasterCard Foundation on Monday signed a $37.4 million deal to help micro-finance institutions…
Safaricom to Announce its Results
Mobile operator Safaricom is set to announce its full year financial results for 2011/2012 on Thursday. The largest mobile operator in Kenya has in the recent past been experiencing drops in its profit. For the half year 2011/2012, Safaricom realized drops in profits to Shs. 4.01 billion…
Air Fares To Go Up
Passengers might have to pay more fares after Kenya Airports Authority increases service charge beginning July. The service charge is a fee KAA charges passengers who use its facilities, which primarily are the local and international airports in Kenya. KAA has received approval from the Finance minister Njeru Githae to…
Ndemo Calls for Fresh Study on Termination Fee
Information permanent secretary Bitange Ndemo has called for a fresh study into the rates of the termination fees which CCK announced last week. The Communications Commission of Kenya last week announced it would slash the termination fees from the current Sh2.21 to Sh1.44 per minute in July. Mobile termination…
Home Owners Get Title Deeds from NSSF
The National Social Security Fund (NSSF) has confirmed that a strategy to reduce its real estate portfolio to align with the national regulatory requirement is well on course. As part of the strategic effort, NSSF has now stepped up the issuance of title deeds to homeowners who…
Kenya Airways Launches ‘KQ Mobile’
Kenya Airways, in conjunction with local IT firm Cellulant, has launched a new mobile technology platform that will enable the airline’s customers to enjoy enhanced interactive services. In a trendsetting move, Kenya Airways now becomes one of the first airlines in Africa to deliver…
Beer and Cigarette Consumers Top on Taxman's List
Kenya Revenue Authority (KRA) will be targeting beer drinkers and cigarette smokers in the next tax collection period. These consumers will feel the tax weight in the tax man’s bid to collect Sh150 billion more in the next period to finance the Sh1.45 trillion budget. This will see…
Cost of Living to Shoot Up With Drop of Tax Exemption
Consumers should prepare for tough times ahead beginning July after a new law proposing to drop Tax exemptions on consumer goods is passed by parliament. This law will effectively see zero rated commodities pay Value Added Taxes in the tax man’s bid to increase his income base. The Treasury expects the new…
Keeping a Debt Book at Your Local Shop?
Living on the credit side of life is in most cases a dreaded thing for many people. But it sometimes is inevitable. Sometimes, you have to live in the negative figures to make things work for you. There is this common thing in lower mid-level households where you keep a…
Githae Calls on Banks to Lower Rates on Loans
Finance minister Njeru Githae has continued with his call on commercial banks to lower the rates at which commercial banks give loans to their customers. Githae has been asking banks and other lending institutions to make loans affordable to borrowers citing reduced cost of operations for the banks. Speaking at…
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