Prime News Kenya

Current Business News in Kenya: Banking | Economics

NSE companies spend Sh2.7bn on staff layoffs

Eight Nairobi Securities Exchange (NSE)-listed firms spent Sh2.7 billion to lay off workers last year as others cut their employee numbers through natural attrition, disclosures in the companies’ annual reports have shown.

Safaricom extends SIM fraud fight to lenders

Safaricom has launched an anti-fraud intelligence solution to alert financial sector players on fraudulent mobile banking transactions involving SIM card swaps and newly registered lines.

Kenya risks being 'land locked'

Kenya risks losing a huge maritime territory if Somalia has its way on the maritime boundary dispute before the International Court of Justice.

Rotich scraps generous relief in housing levy

The Treasury is seeking to scrap a guideline that handed immunity to high-income earners in the housing levy, limiting the monthly relief to 15 percent of the actual contribution.

KRA to miss revenue target

The Kenya Revenue Authority, KRA is likely to miss revenue collection targets by a wider margin this year, further jeopardizing the government’s fiscal plan.

Vivo set to take 50pc stake in KFC franchise

Oil marketer Vivo Energy, which trades under the Shell brand name, is set to take a 50 percent stake in KFC in East Africa, in a deal with the owners of the fast food franchise Kuku Foods East Africa Holdings.