Mabeya Davis
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Court Quashes Tender Ruling, Favors Minet in KRA Dispute
The High Court has overturned a decision by the Public Procurement Administrative Review Board (PPARB) that had dismissed Minet Insurance Brokers’ appeal over a lucrative Sh179 million staff medical scheme tender awarded by the Kenya Revenue Authority (KRA) to Liaison Insurance Brokers. The court ruled that the PPARB erred in endorsing KRA’s interpretation of the…
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Kenya Banks See Q1 Profit Rise Amid Asset, Deposit Strain
Kenya’s banking sector registered a mixed performance in the first quarter of 2025, with notable improvements in profitability and capital adequacy, despite a slight dip in deposits and asset quality, according to the latest industry data. The sector’s total asset base rose marginally by 0.4 percent to Sh7.67 trillion in March 2025, up from Sh7.65…
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Chad Seeks $630M IMF Support to Fund Economic Reforms
Chad is in talks with the International Monetary Fund (IMF) for a US$630 million support program aimed at jumpstarting economic reforms following the country’s recent political transition. The discussions, were held in N’Djamena and led by IMF mission chief Julien Reynaud. The proposed four-year arrangement would fall under the IMF’s Extended Credit Facility (ECF), with…
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Tatu City, Stanbic Bank Partner to Make Homeownership Affordable
Tatu City has partnered with Stanbic Bank Kenya to offer flexible financing solutions aimed at making property ownership more accessible for Kenyans both locally and in the diaspora. The agreement, formalized through a Memorandum of Understanding, enables prospective homeowners to access loans for properties at Tatu City and sister projects, Oaklands and Zuri Springs. “This…
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New Bill Pushes ISPs to Adopt Transparent Billing Systems
The Parliament has introduced a new bill seeking to amend the Kenya Information and Communications Act, ushering in tighter regulations for internet service providers (ISPs) with the goal of increasing transparency in customer billing. Dubbed the Kenya Information and Communications (Amendment) Bill, 2025, the proposed legislation requires all ISPs to implement detailed meter billing systems.…
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Uganda Airlines Launches Direct Flight From Kampala to London
Uganda Airlines has officially launched direct flights between Entebbe International Airport and London Gatwick Airport. The route will operate four times a week on Sundays, Tuesdays, Wednesdays, and Fridays with same-day return departures from London. Operated by Uganda Airlines’ state-of-the-art Airbus A330-800neo, the new long-haul service promises enhanced comfort, fuel efficiency, and an improved passenger…
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Choosing the Right Loan: A Guide to Smarter Borrowing
Loans can be powerful financial tools when used wisely whether you’re looking to grow a business, pay school fees, handle emergencies, or invest in property. In the country a wide range of loan products is available, each suited to different needs and borrower profiles. However, understanding how these loans work is crucial in making an…
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CBK Raises Sh37.4bn in Oversubscribed T-Bills Auction
The Central Bank of Kenya (CBK) raised Sh37.41 billion from the latest auction of 91-day, 182-day, and 364-day Treasury bills. According to auction results released on May 19, the government had offered a total of Sh24 billion across the three tenors, but bids received soared to Sh43.13 billion representing a bid-to-cover ratio of 1.15. The…
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BURN Secures $5M to Scale Electric Cooking in Kenya
BURN, a clean cookstove manufacturer and carbon project developer, has secured a USD 5 million investment from EDFI Management Company (EDFI MC) under the EU-funded Electrification Financing Initiative (ElectriFI). The move aims at tackling household pollution and energy poverty in Africa. The funding is expected to support the distribution of BURN’s IoT-enabled ECOA Induction Cooker…
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KRA Uncovers Sh4.6 Billion VAT Fraud Scheme
The Kenya Revenue Authority (KRA) has uncovered a widespread scheme involving fraudulent invoicing and tax evasion, which has led to significant revenue losses for the government. The revelation follows a probe into abuse of the Value Added Tax (VAT) system, particularly through non-remittance and manipulation of tax obligations. In a stern response, KRA announced that…
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Bolt Introduces Real-Time Flight Tracking for Smoother Airport Pickups
Ride-hailing platform Bolt has launched a new Flight Tracking feature aimed at offering users a more seamless and reliable airport pickup experience, even amid flight delays and last-minute schedule changes. The feature allows users to enter their flight number while scheduling an airport ride, enabling the app to automatically adjust the pickup time based on…
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MTN Profits Jump as More People Use Data and Mobile Money
Telecoms giant MTN has posted a strong quarterly performance for the period ended 31 March 2025, driven largely by a surge in data and fintech revenue. According to the company’s latest quarterly update, group service revenue rose by 10.4 percent marking a 19.8 percent increase on a constant currency basis. The growth was supported by…
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CBK Clarifies Stance on Rates, Rules Out Interest Caps
The Central Bank of Kenya (CBK) has issued a clarification on its recent consultative paper reviewing the Risk-Based Credit Pricing Model, following public feedback from over 40 stakeholders, including commercial banks, financial institutions, consultancy firms, academia, and industry associations. In a press release dated May 13, 2025, CBK stated that the paper, released in April…
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