The Public Finance Management (Amendment) Bill, 2020 before the National Assembly says the Treasury will only take a portion of the losses in case an SME defaults on payment of the loans. Reference:https://www.businessdailyafrica.com/economy/Treasury-to-guarantee-only-part-of-SME-loans/3946234-5597636-rxq4tdz/index.html
Kenya’s COVID-19 ICT advisory Committee has opened applications from local innovators to submit innovations that address the impact of the pandemic in the country. The committee invites applicants to focus on impacts of COVID-19 on food, the economy, logistics, transport, security and livelihoods. Further, applicants should also consider the pandemic’s effects on job creation, quality of life, and the Vision 2030 among others. READ MORE..
This month, the Central Bank of Kenya(CBK) received bids worth KSh 181.8 Billion for the re-opened 5, 10 and 15-year Treasury Bonds, a subscription rate of 302.95%.
CBK offered KSh 60 Billion worth of treasury bonds and accepted bids worth KSh 80.9 Billion. Out of these, Ksh 65 Billion were competitive bids and KSh 15.8 Billion made up of non-competitive bids. READ MORE..
The Kenya Shilling continues to weaken against the US Dollar after touching a new record low of 108.20 on Wednesday’s trading session. The shilling had hit another record low of 107.9400 against the dollar on Tuesday’s session. READ MORE..
Mobile firm Safaricom has introduced a new feature that alerts a user on its Mpesa money transfer service platform on what amounts they can transfer. This happens each time money is transferred through the platform. READ MORE..
Small and medium-sized enterprises that have been worst hit by the COVID-19 pandemic will now benefit from a KSh 5 Billion kitty from the State Department of Trade.
According to Trade Chief Administration Secretary Lawrence Karanja, small businesses engaged in the manufacture of personal protection equipment (PPEs) will be given top priority when disbursing these funds and awarding government tenders. READ MORE..
World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery. READ MORE..
The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks. READ MORE..
The Kenya Shilling is expected to come under intense pressure in the coming days as the economy returns to normal operation. Importers are set to increase demand for dollars, thereby putting pressure on the shilling.
According to the latest weekly bulletin from the Central Bank of Kenya(CBK), the Kenya Shilling weakened against major international and regional currencies during the week ending July 17th July, 2020. READ MORE..
British American Tobacco (BAT) Kenya has posted an eight per cent growth in profit in six months to Ksh.2.7 billion.
The half year growth in earnings from Ksh.2.5billion an year earlier is largely attributable to lower costs of operations and financing costs in the period.
The company’s costs of operations fell by 10.1 per cent to Ksh.6.8 billion as finance costs declined to Ksh.81 million in the period from Ksh.126 million last year.
