CBK to unveil new loan pricing instrument The Central Bank of Kenya will unveil a pricing mechanism that allows borrowers to compare different bank loan costs on standardised parameters, rather than on interest rates alone. The Annual Percentage Rate (APR) pricing model will further allow consumers…

TransCentury seeks to calm Sh8.1bn bond holders after CEO exit TransCentury has moved to assure investors that it is on course to repaying Sh8.1 billion owed to bondholders despite the sudden resignation of its CEO Gachao Kiuna last week. Dr Kiuna left the investment firm last…

Kenya Airways defends air ticket pricing against rivals Kenya Airways has defended its higher air ticket prices relative to other airlines. KQ chief executive Mbuvi Ngunze on Thursday said the airline’s tickets are only priced higher during peak demand, when travellers book late and according to quality…

BAT and anti-tobacco lobby oppose new cigarette tax Kenya’s largest cigarette manufacturer and an anti-tobacco lobby have closed ranks to oppose new excise tax rates they say will only reduce government revenues. The parties, who are normally on opposing sides, say Parliament’s amendment of the Excise…

Equity to cede 2.3pc stake in Congolese bank acquisition bid Equity on Tuesday last week announced that three institutional investors — German firm ProCredit, Belgian development finance institution BIO and Dutch fund DOEN — that respectively own 61 per cent, six per cent and 12 per…

Exchange rate slide pushes shilling past 95 units mark The shilling on Tuesday crossed the 95 units to the US dollar level, continuing a losing streak with forex traders predicting a further drop to 98 units to the dollar by end of year. A weaker currency and its effect…

  Sale of five State sugar companies delayed over farmers’ petition The government plans to sell Nzoia, South Nyanza, Chemilil, Miwani and Muhoroni companies to strategic investors who will control 51 per cent of the sugar millers. Two members of Parliament, however, delayed passing of the motion, citing that the…