NSE inches toward seven-year high on Safaricom’s gains The Nairobi bourse shrugged off negative effects of the capital gains tax controversy to hit a seven year high on Friday with demand aided by a highly liquid money market. The NSE 20 share index closed at 5,465 points, the highest since…

Rift Valley Railways seeks Sh1.2 billion fuel levy refund Rift Valley Railways (RVR) has sued the government for wrongfully charging it the levy that is specific to road users despite its continued operation as a railway-specific company. The firm is seeking a refund of Sh1.3 billion for the Road Maintenance…

Uganda sugar barons want full access to Kenya market In what could compound local sugar millers’ problems, Uganda barons are demanding full access to the Kenya market — based on the East African Community’s free market rule. “… Sugar from other countries in SADC and Comesa — which are not…

Airtel, KRA partnership enables subscribers to pay taxes via mobiles The partnership also allows Airtel subscribers to inquire for KRA services, generate a KRA payment reference number (PRN or an e-slip/invoice number) and make quick simple payments through Airtel Money by simply dialling the short code *572#. Airtel is charging its…

Good times for depositors as Central Bank of Kenya (CBK) unveils new refund plan Governor Njuguna Ndung’u says CBK’s focus would now be directed to strengthening the deposit insurance design that will add value to the depositors and the financial system in general. He says the proposed measures, which are…

KenGen drives Kenyan shares higher, shilling steady The benchmark NSE-20 share index rose 0.6% or 30.81 points, to close at 5,311.27. KenGen, which is expected to release its earnings results this week, rose 6.9% to close at Sh 12.40. On the foreign exchange market, the shilling closed at 89.15/89.25 to the dollar, slightly weaker than…

CBK special units to audit 3 large banks Central Bank of Kenya (CBK) is setting up special supervision units for Kenyan banks with regional subsidiaries to identify the risks. The International Monetary Fund (IMF) says fast expansion of banks into the region has brought fresh risks as regulation in some…

Cash inflows from abroad have grown 31.4% from USD 891.1 million in 2011 to USD 1.2 billionin the full year of 2012. In the month of December 2012, remittances to Kenya grew by 24% and 8.4% to USD 105.7 million compared to USD 85.2 million and USD 97.5 million recorded in December 2011 and November, 2012 respectively.

Kenya still owes Kenya more money. Our government's domestic debt has increased by KES 112.3 billion to KES 971.2 billion up from KES 858.8 billion at the end of June 2012.

The Central Bank has lowered its base lending rate to 9.5% from 11% with statistics showing dwindling inflation rates currently at 3.20%