Category: East Africa

At least 5 percent of Kenyans have no formal education while more than a third have not gone beyond primary school level, a new survey shows. Released by Ipsos Synovate this week, the study indicates that despite Kenya introducing the free primary education (FPE) programme in 2002 and registering increased enrolment rates, more than 44…

Qatar’s energy minister, the current OPEC president, said Wednesday that world oil markets were “responding positively” to output cuts implemented by the cartel and some non-cartel producers. The move to tighten the taps is aimed at reducing a glut of oil on world markets that has depressed prices and taken a heavy toll on the…

The Kenya Roads Board collected Sh18.9 billion more last year from motorists following an increase in fuel levy by Sh3 per litre, indicating the heavy burden that taxpayers continue to shoulder to maintain roads. Latest data from KRB show that the government collected Sh51 billion fuel levy in the year to June 2016 compared to…

The Treasury has opened the sale of a 12-year infrastructure bond seeking to raise Sh30 billion to fund roads, water, and energy projects. In a notice published on Tuesday, Central Bank of Kenya said that the bond will be on sale until February 21, offering a tax-free fixed coupon rate of 12.5 percent. Last year,…

Kenyan banks face a fresh shock under a new set of global accounting rules which require financial institutions to make higher loan-loss provisions for potential upsets. The new guidelines, technically referred to as International Financial Reporting Standard (IFRS) 9, come into force on January 1, 2018 and experts expect credit impairment to almost double from…

Kenya led the East Africa region in the number and disclosed value of deals in 2016, accounting for two-thirds of the deals concluded in the period. Data compiled by I&M Burbidge Capital on market deals done in East Africa shows that Nairobi accounted for 72 out of the 107 completed transactions, and for Sh98.4 billion…

A newly proposed Bill seeking to contain loan fees and commissions charged by banks within the 14 percent interest rate cap has the potential to wipe off up to 22 percent of the lenders income, an investment bank has warned. Standard Investment Bank (SIB) head of research Francis Mwangi says in a note that the…