Pay up Your Water, Power Bill or Miss Out on Loan
Amendments in the Banking Act proposed by Finance Minister Njeru Githae will soon see many more Kenyans blacklisted, a move that would deny them access to loans and other forms of credit. This is a strengthening bid for lenders who have been pushing for information about borrowers. The minister proposed…
Interbank Rate Increases, Kenya Shilling Improves
The Interbank Rate According to the Central Bank of Kenya’s weekly report, the interbank rate, which is the cost at which commercial banks borrow from one another, increased to 16.75% during the week ending June 18, 2012 from 16.47% in the previous week. The average number of borrowing and lending…
Samsung to Sell DVB-T2 Compliant TVs in East Africa
Samsung Electronics East Africa (SEEA) could soon be selling DVB-T2 compliant TV sets in Kenya. The company has already submitted and is waiting for rating approvals for its DVB-T2 compliant TV sets from the Communications Commission of Kenya (CCK). SEEA has welcomed the move by the…
Trend in Fuel Pump Prices
The recent pump price review by the Energy Regulatory Commission (ERC) has seen the price of super petrol fall by KES 3.46 to stand at KES 117.67 per litre. The prices for diesel and kerosene have also dropped to stand at KES 105.51 and KES 83.20 respectively. The decline in…
Forex Trail – 18 June 2012
Below is a table showing the performance of the Kenya Shilling against the major international currencies and the currencies of our neighbouring currencies in the last two trading sessions, Thursday 14 June and Friday 15 June, 2012. As we can observe the Kenya Shilling gained against the US…
For Your Weekend Reading
Here are some stories we have put together for your weekend reading 1. Kenyans’ spending habits fuelling inflation Such is the spending pattern as more Kenyans have more to spend. While those selling goods and services will hike the prices due to the higher demand, Kenyans will be…
Commuter Rail Upgrade Gets a Boost
Commuters living along Mombasa road will soon get a break from the long hours they spend in traffic when the new developments in the railways system are finished. The upgrade plans to make standard gauge rail lines to handle high speed trains and refurbished coaches and engines looked on course…
Airtel's Anomaly on SMS Charges
Airtel Kenya, through there twitter handle have announced that they are experiencing an anomaly in SMS charges which has resulted to users being over charged. Airtel Kenya technical team is working on resolving the issue. We are currently experiencing sms charging anomaly. Sms are being overcharged, kindly bear…
Digital Migration Could be Cheaper
The cost of migrating from analogue signal to digital signal will soon drop after the government’s move to remove import duty on set top converter boxes. In a budget statement read by Finance Minister Njeru Githae in parliament on 14th June, the move is aimed at making the boxes affordable…
Treasury Backs KRA in Property Tax Collection
One of the highlights from yesterday’s budget speech is treasury’s introduction of new measures to rope landlords into the tax bracket. This isn’t the first time such a move has been made. In 2005, Kenya Revenue Authority (KRA) announced plans to use bank accounts…
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