Kenya

Banking: Kenyan president approves law capping commercial bank lending rates

Kenya's President Uhuru Kenyatta signed into law on Wednesday a bill capping commercial bank lending rates, saying banks had in the past failed ... to live up to pledges to lower their rates when parliament tried to introduce caps.

Oil & Gas: Kenya finalises agreement for development of crude oil pipeline

Kenya has finalised an agreement with oil explorer Tullow Oil and its partners Africa Oil and A.P. Moller-Maersk for the development of a crude ... oil pipeline, as it bids to become an oil exporter, the president's office said.

Africa after the real Brexit

As Britain chose to leave the European Union, sending shock waves through the global markets, experts remain uncertain on how this would impact ... African economies. Trade and investment would certainly be affected as most of the trade arrangements the UK has with African countries were negotiated through the EU.

Kenya’s central bank warns lenders over misuse of credit bureaus

Kenya's central bank threatened commercial banks with legal action if they submit inaccurate or incomplete data to credit reference bureaus. ... Kenyan banks have come under fire in recent weeks for the high costs they impose on borrowers.

Mobile banking growth boosts Co-op Bank Kenya’s earnings

Increased mobile and internet banking helped Co-operative Bank of Kenya increase its pretax profit in the first half of 2016 by 19 percent to ... 10.45 billion shillings ($103.08 million), the lender said on Wednesday.

Kenya’s finance minister opposes capping of banks’ lending rates

Kenya's Treasury opposes a move by parliament to cap commercial lending rates because other measures being put in place will help bring down ... borrowing costs over time, the finance minister said on Tuesday.

UNHCR lacks funds to tackle South Sudan refugee overcrowding

The United Nations High Commission for Refugees (UNHCR) has bemoaned the lack of funds to manage the ever increasing numbers of South Sudan refugees ... to neighbouring countries such as Uganda, Kenya, Sudan, Ethiopia and the Democratic Republic of Congo.

Kenya raises retail fuel prices again

Kenyan motorists will pay more for fuel for the next four weeks after the country's energy regulator raised prices, citing the rising costs of ... petroleum imports.

Banking: Kenyan banks pledge to cut lending rates

Kenyan lenders promised on Wednesday to cut loan rates by 100 basis points immediately, part of measures to lower borrowing costs and see off ... the threat of a legislative cap on rates.

Kenya: Private sector activity in July rebound

Activity in Kenya's private sector rebounded in July as new orders rose and domestic demand remained solid, a survey showed on Wednesday. ...