Prime News Kenya

Current Business News in Kenya: Banking | Economics

Uganda police storm Kenya island

Ugandan police officers stormed Kenya’s Sumba Island in Lake Victoria confiscated boat engines and fishing nets from local fishermen.

Starbucks denies Kenya entry plan

US food giant Starbucks has denied reports of its plans to venture into the Kenyan market, offering relief to coffee house chains currently operating in the competitive casual dining segment.

Kenya tops diaspora remittances in East Africa

Kenyans living abroad sent home more money last year than the rest of the East Africa Diaspora combined, World Bank data shows, revealing the difference in the quality of earnings of the different nationalities.

NSE turnover drops by 30pc in second quarter

Turnover at the Nairobi Securities Exchange (NSE) fell by 30 percent to Sh32.9 billion in the second quarter of the year compared to a similar period in 2018 as tumbling share prices discouraged trading.

Mobile cash deals grow Sh186bn in five months

The value of cash transacted through mobile phones in the first five months of the year rose Sh186.11 billion compared with a similar period last year, largely driven by higher e-commerce transactions.

Treasury could lose Sh823bn ‘bad loans’

The government risks losing more than Sh823.7 billion worth of outstanding loans advanced to 72 State corporations, most of which are facing financial challenges.

KRA offices to remain open until Sunday

The Kenya Revenue Authority (KRA) offices will remain open until Sunday to enable more Kenyan file their income tax returns, ahead of the Sunday’s June 30 deadline set by the taxman.