Prime News Kenya

Current Business News in Kenya: Banking | Economics

Why Mumias Sugar won't trade on NSE until Q2 2020

Troubled Mumias Sugar Company is unlikely to have its shares back to trading on the Nairobi Securities Exchange (NSE) before the second quarter of 2020 after the markets regulator extended its suspension from the bourse.

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.