A growing number of Kenyans are falling victim to deceptive sales tactics employed by financial advisors and firms, it has been established. These unscrupulous practices, often referred to as “mis-selling,” involve misleading investors into purchasing unsuitable investment products. This often involves providing inaccurate or incomplete information, or outright deception, for example, financial advisors recommending a […]
Rwanda and the World Bank have launched the Rwanda Country Economic Memorandum (CEM) highlighting Rwanda’s significant economic achievements and offering recommendations for sustaining growth in line with the country’s second National Strategy for Transformation (NST-2). The CEM, titled “Pathways to Sustainable and Inclusive Growth in Rwanda,” is a collaborative report between the Government of Rwanda […]
CBK Governor Dr Kamau Thugge The Central Bank of Kenya (CBK) has issued a stern warning against Kenyans spreading information it deems false regarding the country’s banking system. This comes on the backdrop of unverified posts circulating in social media platforms by various users regarding fraud and a potential bank run. According to CBK, Kenya’s […]
Kenya is pressing for reforms in multilateral development banks to unlock climate financing and scale-up climate finance based on new collective quantified goals. Speaking at the ongoing Conference of Parties meeting in Azerbaijan, Prime Cabinet Secretary Musalia Mudavadi called for the redesigning of the credit rating matrix to lower the risk profile of developing countries. […]
TikTok says it removed a total of 60,465 Kenyan accounts from the platform between April and June this year for violating community guidelines. TikTok second quarter Community Guidelines Enforcement Report for Kenya further shows that the short video platform removed another 57,262 accounts in Kenya which were suspected to be run by users under the […]
Kenya’s e-mobility firm, Roam, has secured funding from Energica that will enable the firm establish 10 more solar-powered charging stations within Nairobi bringing total number of charging stations to 15. The firm says the funds will help it accelerate the adoption of clean, resilient transportation solutions by offering affordable battery rentals, optimized charging, and quick […]
The Brookside Dairies team receiving its award from the CS Ministry of Investment, Trade & Industry Salim Mvurya The Kenya Quality Awards, held during World Quality Week, celebrated excellence in quality standards among Kenyan businesses, spotlighting their role in boosting economic growth and positioning Kenya in global markets. Hosted by the Kenya Bureau of Standards […]
Morocco is set to receive an immediate disbursement to the tune of $415 million from the International Monetary Fund (IMF) This follows the completion of the second review under the Resilience and Sustainability Facility (RSF) by the IMF Executive Board bringing total disbursement under the programme to $747 million. The funding is expected to enhance […]
PHOTO | BBC Volkswagen Group (VW) and Tesla rival Rivian have launched a joint venture, with the German car giant increasing its investment in the partnership. The two companies say the deal is now worth $5.8bn (£4.55bn) – up from an initial pledge from VW of $5bn. Shares in the US electric vehicle (EV) maker […]
Dr James Mwangi, Equity Group CEO. PHOTO | Courtesy Equity Group made Ksh 40.9 billion in net profit during the first nine months of this year driven by an 11PC growth in interest income. However, gross non-performing loans and advances increased by 0.7pc to Ksh 125.3 billion while non-funded income increased marginally to Ksh 58.3 […]
NCBA Bank has been ordered to pay United Kingdom based solicitor Sh250,000 for disclosing her data to a third party. Data commissioner Immaculate Kassait slapped the lender with the fine as compensation to the Kenyan and UK-based solicitor Rose Wambui Muigai. The ODPP noted that the lender failed to process personal data in accordance with […]
Vivo Energy Kenya, the Shell licensee in Africa, has launched a nationwide consumer education campaign focused on fuel quality to highlight its fuel additives technology. Shell, which was voted number one in the 2024 Consumer Awards, is the market leader in its category in Kenya, operating over 300 service stations across the country. The campaign […]
