Taxman Refuses to Return Illegally Collected Taxes
Kenya Revenue Authority (KRA) has been collecting taxes from January without a legal basis to do so. This came about as a result of former finance minister Uhuru Kenyatta withdrawing the Finance Bill from the house. KRA has been collecting taxes on the back of …
What Would You Like to See on Your Bank Notes?
Since pre-colonial times, Kenyans have been used to bank notes and coins that bear individual’s faces on the front. Now that is all going to change thanks to provisions in the new constitution. Article 231(4) of the New Constitution on the production and issuance of Kenyan currency notes and coins…
When To Take Up That Loan Offer
What are you likely to do when the loan hawkers come calling? You see these people pitching tent from banks at every street corner giving the most enticing stories you have ever heard. You probably have received a call from your bank about an ‘offer’ they are giving you for…
Did Your Insurer's Licence Get Renewed?
The Insurance regulatory Authority (IRA) has declined to renew licenses for three insurance companies. UAP Life Assurance, Capex Life Assurance and Xplico Insurance were not put on this years’ list of licencees with the regulator citing breach…
CBKs Presence in Market Weakening Shilling.
Presence of the Central Bank of Kenya (CBK) in the currency market for the past one year has been keeping the shilling weak. Treasury dealers at the Bank of Africa (BoA) say that the sharp depreciation of the shilling has given CBK control over movements of the shilling.
CFC Stanbic blames low Mortgage Application on High Interest Rates
CFC Stanbic Bank’s share in mortgage business dropped to eight per cent last year from 13.6 per cent in 2009 despite raising its mortgage book to Sh6.6 billion from Sh6.1 billion in the same period. The head of retail banking at CFC Stanbic Mr Elly Odhong says the bank attributes…
Housing Business Still Lucrative?
The rush to cash in on the housing industry could still be on after all. Despite the numerous developments coming up in upmarket and low end places, the demand for housing still remains high. Statistics show that Kenya has an annual housing demand of about 210,000 units against an average…
10 Ways to Earn That Extra Coin
Living in these tough economic times in Kenya, one would not mind extra money every month. It comes in handy in paying bills, making up for the coffee date dents and even monthly trips to Naivasha. Here are a few ways in which you could help credit some…
Looking for a Personal Loan that Suits You?
With unpredictability of interest rates on loans, individuals have become skeptical about taking up loans from banks in the country. However, banks have been keeping up well with the competition and available demand to create products that will best suit them and their clients in terms of loans. Here is…
Faulu's deal on Interest Rates
Faulu Kenya’s Faida Fixed Deposit account holders will be earning high interest from 13% over a period of time. The product that targets individuals, chamas, companies and churches has a fixed minimum deposit value of Kshs 5,000. The beauty of this product is that you get to negotiate the interest…
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