Can Consumers Benefit From Banks' Competition?
Competition has been a very effective tool in making life more affordable for consumers in Kenya and other parts of the world. This has been very evident in the telecommunication industry where the nation witnessed a plunge in calling rates as a result of competition. The same has been evident…
NIC Bank Limited Reports a 46% Profit Increase
NIC Bank Limited has announced its financial results for the year ended 31st December 2011. The bank’s profit before tax has increased 39.078% from Kshs. 2,416,342,000 in the year 2010 to Kshs. 3,360,602,000 in 2011. The company’s total assets grew by Kshs. 18,805,389,000 to close the year at…
Banks Offer Solution To High Interest Rates; Mobility of Collateral
The commercial banks through the Kenya Bankers’ Association have tabled new proposals aimed at convincing legislators to drop their quest to control interest rates. One of the key proposals is to allow banks to transfer existing loans to cheaper rivals- mobility of collateral. This ability to transfer loans means the…
Banks Resist Interest Rate Control.
Commercial banks have remained adamant on the issue of control of interest rates by parliament. Gem MP Jakoyo Midiwo sparked the interest rates debate with his bid to amend the Finance Bill to insert a clause that sets a base for deposit rates and a cap on lending rates. The proposed…
First Customer Experience Center Launched in Kenya
Nakumatt Holdings sets the trend in establishing customer experience centres
Kenya’s Money in the Past (Part 1)
Duncan Ndegwa is a former head of the Kenyan Civil Service and Governor of the Central Bank. He published his autobiography Walking in Kenyatta Struggles in 2006. It’s a tale of history of Kenya, struggle for independence, nation building versus devo...
'Obsess Over Customers', And Other Top Business Tips
Obsess over customers. That is one of Jeff Bezos’s key business tips. Obsess over customers! And it makes a lot of sense. They’re the ones who pay for your product right? They’re the ones who will come back if satisfied and THEY are the ones who will blog and tweet…
Interbank Rates Dip
The interbank rate, the cost at which commercial banks borrow from each other, has fallen to almost the same level as the Central Bank Rate (CBR). The CBR is the rate at which commercial banks borrow from the Central Bank. Last week, the Monetary Policy Committee (MPC) decided to keep…
Back When KES 100 Could Buy You A Lot
Do you remember the days when the coins were larger,the days when a 100 shilling note was enough to buy an entire week worth of shopping? A significant amount that was to be handled with caution. An amount that was only in your possession when mother sent you to the…
You Can Now Fly Directly To Abu Dhabi with Etihad Airways
Etihad Airways, the national carrier of the United Arab Emirates commenced direct passenger flights from Abu Dhabi to Nairobi’s Jomo Kenyatta International Airport (JKIA). This new service commenced last Sunday and a one way flight ticket will cost USD 550.00 while a return ticket will cost USD 1,103.
Can Coins Rust?
No really, can they? If you leave a Kshs. 20 coin out in the rain all by itself, cold and lonely, when you wake up the next day, if it’ll survive the many attempts by passers-by to claim ownership of it, will it rust? Ever thought about it? The…
The ABCs of Buying a Government Security
In Kenya there exist two types of government securities; bills and bonds. These are both debt instruments but they vary in certain aspects. A Treasury Bill is a short term debt obligation issued by the government. In Kenya there are three types: the 91 day T-Bill, 182 day T-Bill and…
What Harry Potter and Kenya Power Have in Common
A series of seven fantasy books and eight films based on the Harry Potter novels by British novelist Joanne Rowling, commonly referred to as J.K. Rowling. The books have gained the attention of children and adults worldwide for the better part of a decade, won multiple awards, sold over 400…
Do You Need Life Insurance in Retirement?
As you age, the idea of life insurance seems increasingly unnecessary. Many retirees prefer not to continue paying life insurance premiums when they no longer have young families to take care of. However, before you shrug off the idea of life insurance in retirement, it’s a good idea to consider…
A 26 Million Bar Bill; A Million NIC Bank Shares
A young Briton splashed out over £200,000 (Kshs. 26,439,380) on drinks at a Liverpool nightclub, breaking the world record for the highest bill ever paid in a club. 23-year-old Alex Hope spent £125,000 on a 30-litre Midas bottle of Armand de Brignac, known as Ace of Spades – the world’s…
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