How increasing interest rates set banks for profit windfall

Nairobi, Sept. 20 -- Commercial banks are set to gain from the rising interest rate environment as returns from both government securities and private sector lending continue to increase. Yields from... Read More

Housing levy cash to hit Sh89 billion in next four years

Nairobi, Sept. 20 -- Contributions under the Housing Development Levy are expected to soar by 40.8 percent to hit Sh89 billion in the 2026/27 financial year, up from Sh63.2 billion in the current fisc... Read More

President Ruto Budget set to rise by Sh162bn on spending carryover

Nairobi, Sept. 19 -- President William Ruto's inaugural 2023/24 budget is set to rise by Sh162 billion or 4.3 percent to Sh3.9 trillion from the Sh3.7 trillion expenditure plan earlier approved in Jun... Read More

Treasury cuts local borrowing target by Sh172bn

Nairobi, Sept. 19 -- The Treasury has trimmed its domestic borrowing target by Sh172 billion, albeit at a lower cut than the previously projected Sh270 billion. New budget estimates by the exchequer ... Read More

Commercial bank lending rates hit 65-month high

Nairobi, Sept. 18 -- The average commercial bank lending rate has climbed to a 65-month high of 13.5 percent as of July, revealing the compounded effect of the general rise in interest rates on borrow... Read More

SRC marks more allowances for scrapping

Nairobi, Sept. 18 -- The Salaries and Remuneration Commission (SRC) has identified more allowances for removal in its push to harmonise public sector pay. The secondary scraps, which mark the third p... Read More

MPs block Senate from scrutinising national debt

Nairobi, Sept. 15 -- Members of Parliament have turned down attempts by the Senate to scrutinise the country's national debt through amendments to the Public Finance Management (National Assembly) (Am... Read More

Savers place 74pc of capital in money market funds

Nairobi, Sept. 15 -- Investors have placed 74.7 percent of their funds in money market funds which has emerged as the most popular ahead of others like equity funds that invest in listed stocks. The ... Read More

New payslip pain for workers as Treasury plans tax relief axe

Nairobi, Sept. 14 -- Salaried employees' payslips are set to shrink further, if a proposal by the Treasury to eliminate reliefs on pay-as-you-earn (PAYE) taxes is adopted. The Treasury in its newly p... Read More

New VAT plan to hit parents in top end schools

Nairobi, Sept. 14 -- The government has set its sights on schools' extra-curricular activities in a new plan to introduce VAT on education services. The move is expected to hit parents in elite and t... Read More