Author: Khusoko

Kenya’s overall inflation fell to 4.07% a 100 basis points decline from the inflation rate recorded in December. The Kenyan National Bureau of Statistics attributed this to decreased transport cost in the month. “The CPI increased by 035% from 193.51 in December 2018 to 194.18 in January 2019. The overall year on year inflation in January 2019 stood at 4.70%,” said the KNBS in its January inflation report. The transport index decreased by 1.40% mainly due to decreases in pump prices of petrol and diesel. CBA analysts said, “This is the slowest increase in consumer prices since August 2018, when…

Mauritian-based MCB Group with a market capitalisation of $2 billion and assets over $12 billion has opened a representative office in Nairobi to gauge opportunities in the Kenyan market and build strategic relationships. Mr. Alain Law Min, CEO MCB said they want to position the MCB Group as a strong and competitive regional financial hub, leveraging Mauritius as an international financial centre of repute and substance. “We are keen on enriching the appeal and adaptability of our value proposition across markets and segments, whilst upholding organization-wide synergies and collaborative partnerships. We believe we can create and develop fruitful partnerships with…

We are sure all of you Social Media revellers came across the #10yearchallenge this past week where friends and colleagues posted photos of then and now, showing some amazing transformations and progress that 10 years can make. We are able to draw such parallels with shopping in Kenya over the past 10 years, where online shopping has flourished and is the new trend. You are able to get that much needed retail therapy all from the comfort of your own home! That said, it is important that you or your family and friends, stay safe when purchasing items online. We…

The Central Bank of Kenya on Monday held its benchmark lending rate at 9.0% as per analysts expectations. The Monetary Policy Committee said inflation was anchored within the target range. “The MPC concluded that the current policy stance remains appropriate, and will continue to monitor any perverse response to its previous decisions.” However, “Global growth is expected to weaken in 2019, with increased uncertainties with regard to the trade tensions between the U.S. and China, Brexit negotiations, slowdown of the Chinese economy, the partial shutdown of the U.S. government, and the pace of normalization of monetary policy in the advanced economies.…

Analysts and economists expect the Monetary Policy Committee (MPC) to leave the benchmark lending rate unchanged at 9.00% largely on stable macro-economic fundamentals. when it meets Monday. Genghis Analysts and Cytonn Investments are of the view that the committee will adopt a wait and see stance given the macroeconomic environment is relatively stable. “We expect the MPC to maintain the CBR at 9.0% in the January meeting due to the potential of perverse outcomes on growth ensuing from a policy change, the current stable macroeconomic environment and increasing uncertainty in the global economy,” Genghis Capital. However, “The key concern, however,…

The Court of Appeal has given Stanbic Bank an okay to sale some assets belonging to Naivasha-based Karuturi flower farm together with those of its guarantors Surya Holding Limited and Rhea Holdings Limited to recover its debt. This is after the court dismissed an appeal against an earlier court ruling that allowed the sale with suits on Friday. By way of this appeal, the Shareholders of Karuturi, which is in liquidation, had sought to prevent the sale of the company’s assets, and those of its guarantors, to repay debts owed to its secured creditors. In December 2010, Karuturi Limited had…