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…

Centum seeks more shares of Coca-Cola bottling firms NSE-listed investment company Centum is set to buy more shares in Almasi Beverages, signalling its intention to possibly take full ownership of the holding company of three Coca-Cola bottlers that it owns. Centum has made a limited offer…

KPMG set to replace Ernst & Young as Uchumi auditors KPMG is set to take over from Ernst & Young the auditing of troubled retailer Uchumi Supermarkets, which has accused its former top management of manipulating its last year’s financial statements. The consultancy, classified as one…

KRA sues Airtel for Sh531 million fifteen-year claim The Kenya Revenue Authority (KRA) is pursuing Airtel Kenya for Sh531 million taxes it claims the telco owes from its first two years of operation in Kenya. KRA says the amount arose from Airtel’s $55 million (Sh5.6 billion)…

Uchumi sub-tenants get order halting eviction Sub-tenants in Uchumi Supermarkets have secured a court order delaying their eviction by 14 days from the September 15 deadline given by the retailer. Eighteen speciality shop owners claimed they had not been given adequate notice when they pleaded with…

Mumias resumes sugar production after a two-month break Sugar miller Mumias has resumed operations after a two-month break in a move that is expected to raise the depleted national stock of sugar. The miller says it is producing up to 500 tonnes of the sweetener in…

Uhuru rejects mobile T-bill investment President Uhuru Kenyatta has rejected changes to the law that would have allowed retail buyers to invest small amounts in State securities, including through mobile phones. The proposed changes to the Central Bank of Kenya Act would have forced the banks’…