Kenyan Banks Eye Regional Market
With over 200 banks of Kenyan origin already having a presence in the region Kenyan banks seem focussed on capturing the regional market. More than 5 local banks have opted for regional expansion including Equity, Kenya Commercial Bank (KCB), Bank of Africa (BOA), I&M, Fina Bank and NIC Bank.
In Defense of Luxury: Of Sandstorm, Louis Vuitton and Guilt
Luxury may mean excess, vulgarity and obscene waste; but it’s also a basic human instinct- Sally Feldman Luxury is a hard thing to understand, and only those who know the little pleasures it brings a man can tell you of its essentiality. However, for those standing on the outside, luxury…
Price of Maize Flour Falls by Ksh 4
Increased supply of maize from the south Rift region and Tanzania has led to a 3.7% drop in the cost of maize flour. A 2kg packet which was going at Ksh120 is now Ksh116. In the wholesale trade, a 90Kg bag of maize which would cost Ksh3,800 is…
Coffee Prices May Rise as Nairobi Coffee Exchange Remains Closed
A report from Business Daily July 16th 2012 states that coffee prices at the Nairobi Coffee Exchange have dropped from a high of Ksh719 a kilogramme($8.679) in January 2011 to a low of Ksh246 ($2.976) in June 2012. Trying to explain this, the Coffee Board of Kenya…
Save Ksh 3,000 on a Drifta
DStv mobile has lowered the price of a Walka TV from Ksh 10,500 to Ksh 7,500 and Drifta from Ksh 7,500 to Ksh 4,500. As posted in the Daily Nation Business column, DStv-Mobile manager Felix Kyengo said the cut in prices is part of the firms…
Trend in Fuel Prices
Kenyans yesterday woke up to reduced fuel prices, the lowest prices posted since March 2011. The price drop was foreseeable considering the trend in international oil prices. The Free On Board (FOB) price of Murban Crude oil was post at USD 97.35 per barrel in June, a 12…
Prime Bank Reduces Lending Rate
Prime Bank has has announced that it will be reducing its base lending rate by 1.5% to 22.5% from August this year. This follows Central Bank of Kenya‘s Monetary Policy Committee decision earlier this month to reduce the Central Bank’s…
Forget Economic Growth, We Have Oil.
During the budget speech Finance Minister Njeru Gitahe projected that the country would have a 5.2% growth during the year and gave several factors explaining how the government is working towards realising this dream. He was sure it would be a successful year for Kenyans and the economy…
Consolidated Bank to Open More Branches
Consolidated Bank of Kenya plans to open 10 more branches within a span of two years. The Bank, which has been in existence for 20 years; currently boasts of 17 branches in Nairobi, Mombasa, Thika, Nakuru, Eldoret, Embu, Meru and in other major towns in the country. In its information…
8 Things you should know this Morning
Here is a couple of things you are waking up to this morning: 1. Africa’s under-40 millionaires share their secrets to success Forbes this week published a list of ten African millionaires in their 20s and 30s. Prior to the publication of…
Relief For Motorists As ERC Slashes Fuel Prices
Kenyan motorists and kerosene consumers can sigh with relief after the Energy Regulatory Commission (ERC) announced price cuts on petrol, diesel and kerosene in its monthly fuel price reviews on Saturday. This is the biggest margin the regulator has reduced fuel prices since it started…
Stocks Watch
Stocks Watch – 11 July 2012 At today’s NSE trading, we will be closely observing the following share counters: Carbacid Investments Ltd – The parent company of Carbacid (CO2) Ltd rallied on Friday to reach its highest price in more than one and a half years.
Inside Kenya's new Cheque System
Since January this year, all commercial banks in Kenya have officially implemented the Cheque Truncation System (CTS), a new electronic cheque clearing system that has reduced the number of days it takes for bank cheques to clear to 2 days from 4 days, leading to advantages for individuals…
Money Spending, Saving and Borrowing Tips
Finance management, at personal level is the headache of many people. If one has an income, they think of how to better manage it, if they do not have they look for it, either by generating or borrowing. Here are a few interesting tips from Personal…
Postbank Launches SMATA Account
Young people aged between 12 and 18 can now enjoy Postbank’s new product, SMATA account. During the launch of the account at Ofafa Jericho High School in Nairobi, the bank’s managing director Dr. Nyambura Koigi said, “to open and account, all one needs is…
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