Author: Khusoko

Maisha Microfinance Bank scooped the coveted Best Microfinance Bank in Product Innovation at the prestigious Think Business Banking Awards. “In today’s fast-paced business world, we have seen technology and innovation transform banking, however, the race will not be won by merely having the channel, but by differentiating it with unique efficiency,” said the CEO Ireneus Gichana upon receiving the award. “We have strived to be at the forefront of this digital revolution through designing innovative products that meet our customers’ needs,” explained Gichana. Best Banks In Kenya: 2019 Think Business Banking Awards This is anchored on four core values: Customer…

Kenya’s National Treasury has reopened the M-Akiba bond, a mobile-based infrastructure bond, targeting to raise Ksh 250 million in June. It is scheduled to run from Monday, May 27, to Friday, June 7, 2019. The value date shall be on Monday, June 10, and will start trading at the NSE Tuesday, June 11, 2019. The bond has a tenure of one year and three months, and a maturity date set for September 7, 2020. READ: Kenya Raises KSh197 million from M-Akiba Infrastructure Bond Investors The Central Depository & Settlement Corporation Limited (CDSC) Chief Executive Rose Mambo said they have put…

Persons to replace John Njiraini as Commissioner General of the Kenya Revenue Authority have been shortlisted. “The applications were scrutinised for conformity with the requirements published in the media advertisements, following which The KRA board now wants any persons with information that can help assess the suitability of the five candidates to write to it before May 31.KRA board approved five candidates for attendance of final interviews,” KRA said. The five shortlisted candidates include Julius Waita Mwatu, Richard Boro Ndungu, Andrew Kazora Okello, James Githii Mburu and Duncan Otieno Onduru. KRA said that by the close of the application period…

Low-cost carrier Jambojet has acquired a three-year license from the Kenya Civil Aviation Authority to operate in seven new African countries. Currently, the airline flies to three African destinations namely Entebbe, (Uganda), Blantyre (Malawi) and Bujumbura (Burundi). The seven new destinations include Addis Ababa (Ethiopia), Dar-es-Salaam, Zanzibar, Kilimanjaro, Mwanza (Tanzania), Kigali (Rwanda), Jubba, Hargeisa, Mogadishu (Somalia), Goma, Kisangani (Democratic Republic of Congo), Moroni (Union of the Comoros) and Lilongwe and Blantyre (Malawi) from the hub at JKIA. “This is an application we make to KCAA every year on the routes we intend to operate as we look to continue increasing…

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…