survey by the Kenya Bankers Association that focused on the banking industry’s
response scenarios to the effects of COVID-19 pandemic has indicated that 65
percent of the surveyed banks expect non-performing loans to increase to 14
percent from the current level of non-performing loans to gross loans
Following the approval by the National Treasury to implement
up to 560MW of Geothermal Power Projects
under the Public Private Partnership (PPP) framework, plans by the Kenya
Electricity Generating Company PLC (KenGen) to set up the first phase of
Olkaria VI 140MW Power Plant in Naivasha are in top
The Senate Speaker Kenneth Lusaka upheld a
decision to remove Elgeyo Marakwet Senator Kipchumba Murkomen and Nakuru
Senator Susan Kihika as Majority Leader and Majority Whip, respectively.
The decision followed the speaker’s concurrence
that he indeed received minutes which showed 20 Senators in attendance during
Monday’s meeting which was chaired
The National Treasury unveiled the budget
estimates for the 2020/2021 fiscal year estimated at Ksh2.7 trillion
Close to 80 percent of the budget will go
into recurrent spending at nearly Ksh2.2 trillion and Ksh584.3 billion will go
into development spending.
Payment of public debt – which is a first
By Daisy Okanga | Germany reported 933 new coronavirus cases in just 24 hours on Tuesday.
This was according to the Robert Koch Institute, the
national agency for disease control and prevention.
The coronavirus reproduction rate in Germany has been above
1 for the past three consecutive days, the
Safaricom has extended the bonga for good campaign for an extra 30 days to June 3 2020 to enable customers to continue using their points to buy goods and services as well as donate to those in need.
The product was launched early April,
the initiative seeks
Toyota Motor Corporation said on Tuesday it
expected to post its lowest annual operating profit in 9 years as it grapples
with the impact of the coronavirus, which has sapped global demand for cars.
According to Reuters, the automaker says it
expects an operating profit of USD4.66 billion(Ksh488.2 billion)
Close to 7000 inmates in the country have been freed following
the outbreak of coronavirus in the country.
Interior Cabinet Secretary, Dr. Fred Matiangi said made the
revelations on Monday.
His announcement came on the back of the confirmation of two
coronavirus cases at the Nairobi Industrial Area Remand Prison,
Treasury Bill (T-bills) remained undersubscribed, with the
subscription rate coming in at 62.6 percent, down from 74.6 percent the
The wave was attributed to scepticism among investors in the market owing to the coronavirus pandemic.
“The undersubscription was partly attributable to investors’
uncertainty in the market given
Kenya’s rising debt hamper has pushed the country’s credit
rating outlook into the negative from a previous stable rating.
Moody’s Investor Service changed the country’s rating from
B2 stable to B2 negative on Thursday noting Kenya’s rising risks to meet its
borrowing requirements and debt payments.
“The negative outlook reflects