5 Things You Should Know This Morning – Sep 12
Locally Kenyan shilling closes steady, Safaricom dampens stocks The Kenyan shilling closed unchanged on Thursday, but traders said it may weaken in coming days as the flow of dollars diminishes. Stocks ended four days of gains after Safaricom fell. On the secondary market, government bonds valued at 802.2 million shillings were…
China May Soon Go The Way Of Japan, Says Merrill Lynch
Kenya and China have increasingly improved relations since the turn of the century. The Chinese economy has since the 1980s grown in leaps and bounds, such that today China is the second largest economy in the world. However, a report by two analysts at Bank of America Merrill Lynch suggests…
Slim SIMS vs M Pesa In Kenya: Equity vs Safaricom
The battle between Equity and Safaricom has dominated news on the Kenyan corporate scene in recent times. Equity bank’s proposed introduction of thin SIM technology will threaten the dominance of Safaricom’s M Pesa in the Kenyan mobile money market. Safaricom therefore, has acted to protect its forte’. The 0.1 mm-thick SIM cards sit…
5 Things You Should Know This Morning – Sep 11
Kenya shilling weakens, stocks up on bourse’s newly-listed shares. The Kenyan shilling weakened on Wednesday due to dollar demand from importers in the energy and telecommunications sectors, while stocks rose for the fourth straight session. At close of trade at 1300 GMT, commercial banks quoted the shilling at 88.75/85 to…
Capital Gains Tax: The Good, The Bad and The Ugly
Last week, the Kenyan parliament voted to reintroduce capital gains tax. It had been suspended 29 years ago in order to spur growth in the securities and property market. The motion is currently awaiting President Uhuru Kenyatta’s signature after being approved by parliament. Like Zacchaeus the tax…
Will Ebola Spoil The Party? – Impact of ban on tax in Kenya
The thought of an Ebola Pandemic is scary because of the potential effects on the modern globalized economy. Kenya banned flights from Guinea, Sierra Leone and Liberia from entering into the country. Other airlines such as British Airways have also suspended flying to the affected countries. The ban is bound…
Nairobi’s Changing Skyline: Commercial Real Estate On The Rise
The Nairobi skyline is among the most recognisable cityscapes in the world. For over 40 years, the iconic upturned hut atop the Kenyatta International Conference Centre (KICC) has helped people immediately recognize the profile of “The Green City in The Sun”. Standing tall at 105 metres, the KICC has become…
5 Things You Should Know This Morning – Sep 10
Mombasa tea auction starts live data feeds Tea brokers have begun real-time streaming of the Mombasa tea auction to authorised stakeholders ahead of the April implementation of electronic trading. The lobby says the auctions have been available online since August 25, with the net-cast capturing buyers’ bids and the accepted…
Real Estate In Kenya: Two Sides For You
It is now not abnormal for pieces of land in areas such as Upperhill or Westlands to fetch a price of more than a hundred million shillings an acre. Credit available to the real estate sector is not in short supply. For example, KCB have been advertising a 105% mortgage…
5 Things You Should Know This Morning – 09/09
Telecom regulator wants increased competition in money transfer business Communications Authority of Kenya (CAK) has said it will not reverse its decision to allow Equity Bank to introduce mobile money transfer services despite protests from integrated communications service provider, Safaricom . The commission’s Chairman Ngene Gituku said that three other…
Safaricom/Equity Battle Heats Up Even Further
The Communications Authority (CA) has defended its decision to award Equity Bank a mobile virtual network operator (MVNO) licence with which the lender is seeking to penetrate mobile banking industry. Equity has said it applied for and was awarded an application service provider and a content service provider…
Four lenders broke banking rules in 2013 – CBK report
The Business Daily reported that low-income earners shun banks over fear of losing savings. The study found that most low-income earners see banks as lacking in transparency and accountability, making it difficult for them to pursue any loss of funds or even negotiate flexible financing for their needs…
Could Kenya Actually Use Bitcoin?
In its story, Five Economies That Could Actually Use Bitcoin Vice.com highlights Kenya as one of the countries that could mainstream bitcoin adoption. Kenya is a world leader in mobile money. The mobile payment network M-PESA, which is thought to be the most developed of its kind in the world,…
7th August, 2014: 5 things you should know this morning
Future Developments Nairobi County is planning to erect a 17-floor commercial and office space structure on the Sunken Car Park land adjacent to the Aga Khan Walk and Harambee Avenue. Kenya plans to build five national stadiums in Kisumu, Mombasa, Nakuru, Eldoret and Garissa to lift standards of sports and…
6th August: 5 Things You Should know this Morning
Sh1 billion Sacco real estate Thika Project Kiambu-based Urithi Housing Cooperative Society has launched a Sh1 billion residential project, City Edge, in Kilimambogo on the outskirts of Thika town, targeting its 6,000 members. Under the scheme, members contributed Sh355,000 to acquire the 100-acre land and the sacco will help…
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