Prime News Kenya

Current Business News in Kenya: Banking | Economics

KRA freezes Africa Union’s firm accounts over arrears

The Kenya Revenue Authority (KRA) has frozen bank accounts owned by Africa Union’s reinsurance firm over a Sh12.8 billion tax bill, setting the stage for a battle between Nairobi and the continental body.

Co-op Bank set to launch five new branches

Co-op Bank is set to open five new branches, taking its total physical outlets to 160 despite the industry’s growing focus on digital banking channels.

NSE to map listed firms’ gender balance in study

The Nairobi Securities Exchange (NSE) has inked a pact with gender equality data and insights provider Equileap and New Faces New Voices to conduct a joint study to evaluate Kenyan- listed companies’ performance on gender equality.

Top cement companies face excess capacity risk

Excess capacity in cement production in Kenya is likely to occur with the planned expansion of production by four major manufacturers, says a new report by local brokerage firm AIB Capital.

Regulator fights Kenya Power tariff rise notice

Kenya Power has encountered regulatory resistance in its fresh application to raise electricity prices after a temporary reduction of power charges for 5.7 million consumers expired in July.

KCB-National Bank deal gets nod

The Central Bank of Kenya (CBK) has shrugged off concerns raised by MPs and approved the 100 per cent acquisition of National Bank (NBK) by KCB Group.

KRA destroys contraband worth Sh1.5 billion

The Kenya Revenue Authority (KRA) led the Multi-Agency team on illicit trade in destroying illicit excisable products with a market value of over Sh1.5 billion at Stoni Athi, Kajiado County.