Kenyans Embrace Cheaper Pension Plan
Many more small business owners in Kenya’s informal sector may have legitimate pension plans by the end of this year. According to the Retirements Benefits Authority (RBA) more than 32,000 Kenyans have already registered for the Mbao Pension Scheme. RBA CEO, Edward Odundo reports that the…
CBK proposes to overhaul MFI Regulations
The Central Bank of Kenya has released a proposal for the comprehensive review and overhaul of the microfinance and Deposit Taking Microfinance Institutions’ regulatory and supervisory framework. CBK says the proposals have been formed in consultation with practitioners and players over the three year period of…
Commuters to Gain from KES 605 Billion Road Upgrade
Kenyan commuters will benefit from a KES 605 billion government investment that will be used to improve traffic within the country. The Ministry of Roads said that the investment is part of a 15 year plan that will be used to develop the country’s infrastructure. According…
Standard Chartered Branches to Remain Closed This Sunday
Following a system upgrade scheduled to take place on Sunday 12th August, 2012, Standard Chartered Yaya, Ukay and Greenspan branches, usually open 7 days a week, will be closed on the stated date. In addition to this, the following services will be unavailable, between 4.00pm and…
Stocks Watch
In today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters: Barclays Bank – The bank is expected to announce its half-year financial results today. These are highly anticipated as Barclays is one of the top banks in Kenya according…
8 Things You Should Know This Morning
A couple of things you are waking up to this morning: 1. K-Rep Bank profit rises 25 per cent on back of loan income- Business Daily 2. What investors should learn from Olympics- Business Daily 3. Mbao pension plan registers 149pc growth – Business…
Closing Bell – 6 August 2012
INDICES After declining for five consecutive days, the NSE 20 Share Index today gained 0.13 percent to close at 3,830.24 points from 3,825.08 points on Friday last week. Meanwhile the All Share Index gained 0.35 percent to close at 83.27 points from 82.98 points at the…
AGOA Extension To Spare Thousands their Jobs
Over 32, 000 Kenyans working in Kenya-base US textile factories will maintain their jobs after all. This follows US Congress’ vote for a three-year extension of the African Growth and Opportunity Act on Thursday 2nd 2012. The AGOA preferential trade programme which was established in May 2000, was meant to…
Price of Imported Goods May Go Down
Consumers may soon pay less for imported goods following a move by the Kenya Revenue Authority (KRA) which will allow importers to move their goods without having to stop for inspection. The Authority reports that the initiative will save time and money for importers, bringing down the cost…
KNH Embraces IT
Kenyatta International Hospital (KNH) ICT plan is set to be officially launched on 14th August 2012 at a stakeholder’s breakfast meeting. A set of 70 ICT projects, costing approximately KES 2.3 Billion to KES 3 billion, have been identified in the plan and will be implemented…
Small Businesses Set for KES 1 Billion Loan
Small and Medium-sized Enterprises (SMEs) are set to benefit from a new KES 1 billion initiative by the Smallholders Irrigation Schemes Development Organisation (SISDO). The company, which targets livestock farmers and small-scale traders, has adopted a new strategy that aims to increase its lending capabilities. Speaking…
Is Kenya Ready for Online Trading?
Amidst pressure to embrace technology and make their ways more modern; is the country really ready for online stock trading?
International Oil Prices Rise
Anticipate an increase in fuel prices as international crude oil prices begin to rise. Latest statistics released by Abu Dhabi National Oil Company show that the Free On Board (FOB) price of Murban crude oil lifted in July 2012 increased by 4.5 per cent to retail…
Nakumatt Opens Cinema Hall
Regional retailer Nakumatt Holdings has expanded its entertainment services provision with the opening of a Cinema Hall at Nairobi’s Westgate Mall. As part of Nakumatt’s strategic business development plans, Planet Media Cinema a KES 80 million investment has now opened its doors barely three…
VAT Bill Review Forum
The Institute of Certified Public Accountants of Kenya (ICPAK) has organized a VAT Bill Review Forum for members of the Institution and the public to discuss the possible impact of the Bill in its current form. The VAT Bill 2012 objective is to…
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