A cash hitch has compelled the Treasury to announce further cuts in the allocation for development projects to plug a Sh161 billion Budget hole, a move that will hurt job creation and upgrade of infrastructure projects.

Treasury Secretary Ukur Yatani has told Parliament that last year’s Budget cuts for lavish travel, advertising and trainings, which the State said were examples of wasteful spending, had failed to yield enough savings to fix the Budget deficit.

The Central Bank of Kenya (CBK) wants Absa Kenya to use fair and responsible pricing of loans to connect customers to the new brand as it drops the 104-year old Barclays Kenya brand.

The regulator says many banks have been seen as insensitive to the needs of Kenyans through high cost of credit, opaqueness and poor customer service. READ MORE..

Kenya is set to acquire new parking spots (orbital slots) for its telecommunication satellites in a move expected to boost the performance.

This follows a decision last year by the International Telecommunication Union to have 31 African countries pick new orbital positions to replace their current slots. READ MORE...

Education Cabinet Secretary George Magoha wants universities to cut the number of support staff to accommodate more teaching staff.

Prof Magoha said this could help improve quality in higher education while cushioning the institutions from high operating costs. READ MORE............

This was done when a delegation led by Ms. Dave Vibhavari Vijay, Honorable Minister of State, Women and Children Welfare, Education (Primary and Higher Education) and Pilgrimage on February 14, 2020 when she paid a courtesy call to the Vice Chancellor.

Through a programme dubbed Entrepreneurs Hub (Ehub), the lender is reaching out to hundreds of Small and Medium Enterprises (SMEs) to build their competitiveness in the market.

The bank is training SMEs in key areas such as marketing, monitoring of cash flows and turnovers and human resource to sharpen their competitive edge in the otherwise flooded market.

The bank says it is keen on helping SMEs to achieve their growth and make them remain sustainable in their operations.

The European Commission is considering a proposal to phase out 1-euro cent and 2-euro cent coins, an EU document showed, in what would be a cost-saving move as the coins’ production and handling costs often exceed their face value.

The possible measure is included in the EU executive’s working programme for this year, released on Wednesday, and is scheduled for the October-December period after an evaluation of the use of the two smallest euro denominations.

Safaricom had last year talked of a joint bid in partnership with South Africa’s Vodacom, which owns a 35 percent stake in the firm. However, sources at the company said that more firms could be involved in the consortium angling for a market that has attracted the interest of global telecommunication firms, including Vodafone, which owns five percent of Safaricom.

For the whole year, the returns from equities stood at 33.3 percent, beating fixed income which returned 12.7 percent and offshore investments at 25.9 percent.

The Treasury should go for a new Eurobond to take advantage of the declining interest rates in the international market, Dyer and Blair Investment Bank has advised.

Central Bank of Kenya (CBK) data shows the yields for the four outstanding Kenyan Eurobonds on sale in global markets have declined. Even relative to start of this year, all the Eurobond issues have seen their yields fall.