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Micro-financier Mwananchi Credit has accused its competitors of sponsoring a smear campaign in the media, with allegations of predatory lending. In a statement, Mwananchi Credit said that it lends people according to their risk factor with lower risk getting lower rates and higher risk being commensurately weighed. “Reference is made […]
The Executive Chairman of Devki Group Narendra Raval shot himself in the foot the moment he came out to publicly announce that he was headed to Mumias Sugar Company to revive it. Mumias having traded at the Nairobi Security Exchange (NSE), the process to recruit an investor to resuscitate the […]
Auditor-General Nancy Gathungu has raised concerns over direct payments of Sh4.4 billion from a Chinese bank to Huawei for the construction of the Konza Data Centre. Gathungu says the bank was unable to produce documents to validating the payments it made to Huawei, pointing that taxpayers will lose billions of […]
KEY POINTS Treasury CS Ukur Yatani will in Thursday afternoon read the 2021-2022 budget in Parliament The expected budget for the new fiscal year stands at 3.6 trillion shillings Treasury is facing a tough time meeting budgetary obligations 2021-2022 is Uhuru’s last full year budget as his term ends in […]
Kenya’s biggest bank based on assets Kenya Commercial Bank (KCB) is on the spot after a string of unauthorized transactions swept their accounts clean. The incidencent happened on May 28, as the client went through an emotional turmoil trying to get access to her money. Now, a customer with the […]
