4m Kenyans suffer crypto crash losses

Currencies 4m Kenyans suffer crypto crash losses Tuesday June 21 2022 The ongoing meltdown in the cryptocurrency industry could push an estimated four million Kenyans who hold the digital assets deeper into losses as the leading crypto Bitcoin struggles to stay above the key level of Sh2.3 million ($ 20,000). The crypto market, known for … Read more

Cost of bank loans reach 27-month high on T-bills

Capital Markets Cost of bank loans reach 27-month high on T-bills Tuesday June 14 2022 Central Bank of Kenya. PHOTO PHOTO | NMG Bank lending rates hit a 27-month high in April as costs of wholesale deposits increased following competition for funds between lenders and the government, setting up costly credit for homes and businesses … Read more

CBK set to regulate financial super-apps

Economy CBK set to regulate financial super-apps Thursday June 09 2022 A user with a Safaricom App. PHOTO PHOTO | NMG The Central Bank of Kenya (CBK) says it will start regulating financial super apps such as Safaricom’s M-Pesa and Craft Silicon’s Little, with the regulator saying the platforms have the potential to account for … Read more

Cost of digital loans to rise on fresh 20pc tax

Economy Cost of digital loans to rise on fresh 20pc tax Monday June 06 2022 Borrowers of digital loans will pay more for credit if last-minute changes proposed to the Finance Bill to impose a 20 percent excise tax are approved. PHOTO PHOTO | NMG Borrowers of digital loans will pay more for credit if … Read more

Inflation rises to 27-month high as spending drops – VIDEO

Economy Inflation rises to 27-month high as spending drops – VIDEO Wednesday June 01 2022 Customers shopping at a local supermarket. PHOTO PHOTO | NMG Kenya’s inflation hit a 27-month high in May on the back of a jump in the price of essential items like cooking oil, food, fuel and soap, squeezing household budgets … Read more

Central Bank raises interest rate to tame inflation

Capital Markets Central Bank raises interest rate to tame inflation Monday May 30 2022 Central Bank of Kenya. PHOTO PHOTO | NMG The Central Bank of Kenya on Monday raised its policy lending rate by a quarter percentage point to stem rising inflation and stabilize the Shilling. The increase in the Central Bank Rate (CBR) … Read more