The Communications Commission of Kenya has announced August as the date for shutting down of fake mobile phones in the country after postponing the exercise three times. Now it seems sealed because the regulator has found a database provider that will give information that will assist in tracking…
Prime Minister Raila Odinga in statement read at the Banking Survey Awards asked commercial banks to cut down their lending rates to 16%. The premier noted that the government mobilized MPs to vote against capping of interest rates and asked the banks to show appreciation by lending to the people…
Equity Bank emerged as the best bank in Kenya for the year 2011. This was announced at the Banking Survey Awards. Consolidated bank was voted as the best bank in Technology use with Chase Bank being voted as the fastest growing bank. Here is a list of the awards. The Best…
Barely a week after the Communications Commission of Kenya postponing the shutting down of fake mobile phones indefinitely, the information industry regulator has set August as D-day for the exercise. CCK had postponed for the time exercise citing lack of a conclusive database that would help carry out the…
The Communications Commission of Kenya (CCK) has distanced itself with the plan by three mobile operators to have a fixed minimum calling rate within their networks. CCK director general Francis Wangusi has admitted having talks with Airtel, YU Mobile and…
The Kenya Revenue Authority could soon be taxing all transactions you make on your mobile money account, the tax man has announced. Speaking while releasing the KRA’s third quarter revenue performance Commissioner General John Njiraini said they were considering taxing the transactions to increase their…
The Finance Bill 2011/2012 was passed in parliament on Thursday after long debates and a troubled life on the shelves of the house. The bill was passed without the amendments proposed to it of having interest rates on loans capped and deposits interest made at a base rate…
Policy holders at CIC Insurance have lost their investment to the tunes of Shs 100m to a suspected fraudulent scheme connected to agents at the firm. The affected were introduced to ‘Mavuno’, a unit-linked investment plan that was allegedly supposed to yield returns of between 7% and 10% a month.
The Kenya Revenue Authority will now be collecting taxes ‘legally’ after the Finance Bill 2011/2011 was passed. The taxman had been collecting taxes illegally since January of 2012 to date. KRA was collecting taxes in the months preceding January based on the Provisional Collection of Taxes and Duties Act.The provision allows…
Loan borrowers will have to put up with the high interest rates main stream banks charge them on loans after parliament shot down proposed amendments to the finance bill 2011/2012. The Jakoyo Midiwo sponsored amendments to have bank interest capped and have a base on the interest given…