Prime News Kenya

Current Business News in Kenya: Banking | Economics

Omtatah wants court to stop CBA-NIC merger

The proposed merger of NIC Bank and Commercial Bank of Africa may now have to wait longer following a legal battle was initiated on Friday to suspend the process.

Chinese refinery pays premium for Kenya oil

Kenya has found a buyer for its first batch of crude oil in a deal that will see the commodity fetch a better return compared to the current market prices roiled by US-China trade tensions.

Plan to tax YouTube, Netflix in final stage

The ICT ministry is in the final stages of developing a framework that will be used to tax foreign online streaming media services such as YouTube and Netflix.

HF puts Sh2bn customer houses up for auction

Listed mortgage lender Housing Finance (HF) has put on sale customer houses worth an estimated Sh2 billion, pointing to widespread distress in the real estate sector.

US company test NSE with marijuana firm plan

A US company involved in the cultivation and processing of marijuana has announced plans to cross-list on the Nairobi Securities Exchange (NSE), putting to test Kenya’s resolve to maintain the drug on the list of banned narcotics amid legislative pressure to legalise it.

Standoff as MPs reject KCB’s buyout of NBK

Parliament has ordered the Treasury and NSSF to reject KCB’s #ticker:KCB proposed buyout of the cash-strapped National Bank of Kenya (NBK), throwing into confusion the already under way multi-billion-shilling transaction.

NSE hits 10-year low as blue-chip stocks plunge

The prices of blue-chip companies that make up the Nairobi Securities Exchange (NSE) 20-Share Index have dropped to a 10-year low, reflecting investors’ expectations of depressed earnings for the listed firms.

Eurobond raises Kenya’s public debt to Sh5.8trn

The Sh210 billion Eurobond signed in May contributed to a sharp increase in the country’s public debt load to Sh5.81 trillion as at the end of June, a new Central Bank of Kenya (CBK) report has shown.