Prime News Kenya

Current Business News in Kenya: Banking | Economics

Banks pay lowest rates on savings in 36 months

The deposit rates offered by Kenyan banks have hit a 36-month low, reflecting the ongoing impact of the removal of the floor interest rate last year that has seen lenders ride on cheap deposits to grow record profits.

StanChart profit drops marginally to Sh6.2bn

Standard Chartered Bank Kenya's net profit for the first nine months of the year fell marginally to Sh6.22 billion on a reduced income, breaking ranks with another tier I lenders that have booked growth.

Uganda resubmits China loan request for Sh230b rail

Uganda resubmitted a loan request to China for a 271-kilometre (168-mile) railway linking its capital, Kampala, with the Kenyan border after renegotiating the contract price and improving security.

Kenya Ports Authority remits Sh18.7 billion to Treasury

Kenya Ports Authority has remitted Sh18.7 billion to the treasury making it among the top state-owned entity in sending money to the government following a directive ordering State departments to surrender surplus cash.

TSC, Knut war a turning point in trade unionism

If the Teachers Service Commission (TSC) lives up to its threat to end a recognition pact with the Kenya National Union of Teachers (Knut), it will mark a major turning point in the history of trade unionism in the country.