Author: David Indeje

The Central Bank of Kenya has licensed the country’s first mortgage refinance firm. The regulator said the Kenya Mortgage Refinance Company (KMRC) which was established in 2018, as a non- deposit-taking financial institution under its supervision in issuing mortgage-backed bonds and other instruments in order to increase the availability and affordability of mortgage loans to Kenyans. “The license has been granted pursuant to the CBK (Mortgage Refinance Companies) Regulations, 2019 after KMRC’s fulfillment of the stipulated licensing requirements,” said the CBK on Friday. The Government of Kenya through the National Treasury owns twenty (20) percent of the Company while the…

The Central Bank of Kenya has raised Ksh64.176 billion from the  triple-tranche re-opening  September Treasury Bonds against the advertised Ksh 50 billion. The bonds: FXD2/2010/15 with a 5.3 years tenor and a 9.00 percent per annum coupon rate raised Ksh11.019 billion, FXD1/2020/15 with a 14.5 years tenor and a 12.756 percent per annum coupon rate raised Ksh45.692 billion and FX1/2011/20 with a 10.7 years tenor and a 10.00 percent per annum coupon rate raised Ksh7.465 billion. The proceeds will be used for budgetary support in the current 2020/21 fiscal year. https://twitter.com/CBKKenya/status/1306245136687468548?s=20 The National Treasury projects ordinary revenue to decline from…

Retailer, Tuskys Supermarket has been ordered to shut down its Greenspan outlet over KSh30 million rent arrears. Greenspan mall’s Real Estate Investment Trust (Reit) manager, ICEA Lion Asset Management (Ilam), said  they resolved to shut the branch because it had failed to meet its tenancy obligation. “Tuskys started showing signs of distress as a tenant earlier in the year with regards to the tenant’s obligations. As the REIT Manager, we have been in discussions with them to reach an amicable payment plan and warrant their continued operations at the mall,” noted ICEA. “The payment plan has been dishonoured by the…

Tanzania has lifted the ban on airlines from Kenya to resume flights bringing to an end to the airspace feud between the two countries. The Tanzania Civil Aviation Authority (TCAA) Wednesday announced that it had lifted the suspension that hit Kenya Airways, AirKenya Express, Fly540, and Safarilink Aviation. In a statement, TCAA director-general Hamza Johari said the authority was acting on a reciprocal basis after the Kenya Civil Aviation Authority (KCAA), included Tanzania on a revised list of countries exempted from the 14-day mandatory quarantine upon arrival. “In view of that and on a reciprocal basis, Tanzania has now lifted…

Kenya’s Interior Ministry says it will roll out the second phase of the National Integrated Information Management System (NIIMS), popularly known as Huduma Namba. NIIMS is intended to be a single repository of personal information of all Kenyans as well as foreign resident in Kenya. Interior Principal Secretary Dr. Karanja Kibicho said the process will commence once the production of the third generation Huduma Namba cards begins at the end of the year. “After we have done preliminary printing, we have been directed to conduct the second mass registration. After that people will have to be walking to the Registrar…

The Public Service Commission (PSC) is scheduled to interview twelve shortlisted candidates on 21st and 22nd September 2020 for the post of Data Protection Commissioner. The Office of the Data Protection Commissioner is an office established by section 5 (i) of the Data Protection Act, 2019.  The Data Protection Bill, 2019, was signed into law on the 8th of November 2019. The  Act provides for the establishment of the office of the Data Commissioner in accordance with Article 260 (q) of the Constitution and lays down the rules for the protection of personal data by both public and private entities.…