Author: Khusoko

The Central Bank of Kenya saw the current account deficit narrowing to 4.8 % of the gross domestic product in 2019. “The current account deficit is expected to narrow to 4.8% of GDP in 2019 from 5.0% in 2018,” Governor Patrick Njoroge said after the Monetary Policy Committee held its benchmark rate at 9.0%. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

House prices in Kenya declined by 2.78% in the first quarter of 2019 according to the latest House Price Index (HPI) released by the Kenya Bankers Association. It was described as ‘the largest decline since 2013 base period’. The decline is attributed to the constrained credit flows to both the supply and demand side of the housing market. On the supply side, the Index associates the slowdown to a slump in the rate of credit growth to the building and construction sector between July 2017 and June 2018, which averaged at 1.2 percent. “The influence of the credit supply to…

The Kenya Revenue Authority (KRA) Board has appointed Mr. Paul Muema Matuku and Dr. Fred Mugambi Mwirigi to serve as Commissioner of Legal Services and Board Coordination and Head of Kenya School of Revenue Administration (KESRA), respectively effect from 15th May, 2019. Mr. Matuku joined KRA in 1996 and has served in varied positions in the Legal Services& Board Coordination department rising to his previous position of Deputy Commissioner in charge of litigation services. As head of litigation, Mr. Matuku has spearheaded KRA’s defence in key legal suits and contributed towards substantially enhancing the department’s success rate in countering tax…

When I thought about this idea, it sounded ridiculous. Who doesn’t know how to light a jiko? Like, seriously? I came to realize that the idea was not ridiculous after all. It is a serious matter. Lighting a jiko within most of the rented apartments in Nairobi is a nightmare. It is something that one spends hours thinking and planning. In fact, in my case, I always have to consult my ancestors through the pouring of libation before them giving me the way forward. While lighting a jiko in most of the apartments in Nairobi, you have to consider the…

Standard Chartered Kenya Limited Board of Directors has appointed Patrick Obath as the new Chairperson to the Board taking over from Anne Mutahi who has held the position since 2012. While announcing her stepping down during its 33rd Annual General Meeting, Mutahi thanked Clients, Board of Directors, Management and Staff for their support and dedicated contribution in driving the Bank’s agenda during her tenure. “I would like to officially announce that I will be stepping down from my position as Chair to the Board. My journey with Standard Chartered Bank started way back in February 2009. I have enjoyed serving this…

Kenya’s banking sector is increasingly changing. With more than 42 financial institutions, serving a banking population of slightly above 10 million, Kenyans are in search of a lender that gives them the best. With the hard economic times that have left the pockets of many empty and yawning, Kenyans are looking for a lender who has quality services but friendly to their pockets in terms of charges. Different lenders in Kenya charge differently for their services, but according to Think Business, ABC Bank is the lowest in terms of charging their individual customers. The bank scooped the Bank with the…