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Mortgage defaults hit Sh70bn, auctions jump

Nairobi, July 23 -- Defaults on mortgages jumped 48 percent to Sh70.5 billion in the year to March, pointing to widespread distress in real estate in the wake of Covid-19 economic hardships as propert... Read More


Firms get Sh450m to move cables on Nairobi-Mau road

Nairobi, July 23 -- The State will spend Sh450 million to relocate fibre optic cables from the Sh160billion Nairobi-Mau Summit highway construction corridor. The ICT ministry has picked four firms to... Read More


StanChart slashes interest rate on fresh mortgages

Nairobi, July 23 -- Standard Chartered Bank of Kenya #ticker:SCBK has cut the interest rate on new mortgages and waived legal and valuation fees for customers moving existing facilities from other ban... Read More


Kenya to gain from $94m EU geothermal power fund

Nairobi, July 22 -- Kenya is among countries set to benefit from €80 million ($94 million) funding from the European Union investment arm to increase geothermal power production. The European I... Read More


BAT Kenya maintains Sh350m interim dividend on profit rise

Nairobi, July 22 -- BAT Kenya #ticker:BAT has maintained Sh350 million interim dividend after net profit for the six months to June rose by 0.71 percent, partly slowed by increased operating cost. Ci... Read More


Kenya to gain from Sh10bn EU geothermal power fund

Nairobi, July 22 -- Kenya is among countries set to benefit from Sh10.2 billion (€80 million) funding from the European Union investment arm to increase geothermal power production. The Europea... Read More


Kenyans abroad defy Covid to remit Sh189bn in first half

Nairobi, July 20 -- Kenyans living and working abroad sent home Sh189.4 billion ($1.75 billion) in the six months of the year, defying the persisting Covid-19 economic disruptions in the source market... Read More


Workers with multiple pensions to merge them for Co-op mortgages

Nairobi, July 19 -- Workers with pension contributions spread in different schemes will have to move their money into one scheme before being allowed to tap 40 percent of their entire savings for purc... Read More


Bank loans to State firms at four-year low

Nairobi, July 19 -- Bank lending to parastatals has dropped to levels last seen four years ago on mounting defaults as the financial institutions move to cushion themselves from further losses in the ... Read More


NSE hits 39-month high on Safaricom and Equity

Nairobi, July 16 -- Investors' wealth at the Nairobi Securities Exchange (NSE) yesterday hit a 39-month high, adding them Sh101.6 billion in the last one month on the back of a rally of Safaricom and ... Read More