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The 629 ex-staff successfully challenged the bank’s pension scheme conversion from a defined benefit to a defined contribution plan, saying the change short-changed their savings.
Data from the Retirement Benefits Authority (RBA) reveals that in 2024, only 245,581 new contributors were registered, highlighting the impact of slow formal job creation and the increasing dependence on temporary or outsourced labour.
The new proposal marks a major shift from earlier regulations published on May 30, which had placed the retail price of spirits at between Sh1,000 and Sh1,200 per litre for them to access excise duty remission.
Currently, employees earning Sh30,000 contribute Sh1,800 per month, those on Sh50,000 remit Sh3,000, while anyone earning Sh80,000 and above pays the maximum Sh4,320. Employers are required to match the workers’ contributions.
At the same time, contributions to retirement schemes jumped by 29 per cent to Sh263.5 billion in 2024, reflecting higher employer and employee remittances under the phased rollout of new NSSF rates.
Customer deposits dropped by Sh31.9 billion in the six months to June, falling to Sh496.9 billion from Sh528.8 billion in the same period last year.
With both AGII and APRA secretariats hosted in Nairobi, Kenya is set to play a central role in steering Africa’s green transformation.
The platform will include a user-friendly interface, a retail depository, and streamlined payment and settlement systems.
A container guarantee functions as an insurance-like arrangement, either through shipping lines or third parties, ensuring that the shipping line is compensated in case of loss or damage.
With the latest approvals, the number of regulated digital credit providers (DCPs) now stands at 153.
In separate rulings delivered by Justice Rhoda Rutto, Jatcom Agency Limited was directed to pay Sh47 million, Charingcross Communication Agency Sh45.8 million, and Talk Cell Technologies Limited Sh47.2 million.
A new report by the Central Bank of Kenya (CBK) shows that the 14 microfinance banks (MFBs) under its supervision have been unable to expand lending, forcing them to sell loans to commercial banks while slowing down issuance of fresh credit in order to manage risk.
The Parliamentary Budget Office also dismissed government’s optimistic projections, saying growth will only reach 4.8 per cent this year, lower than the Treasury’s forecast of 5.3 per cent.
Controller of Budget, Margaret Nyakang’o warned that delayed payments by State Corporations and government agencies are squeezing small and medium businesses that depend on timely government contracts.
Domestic lenders accounted for the bulk of debt service in the year under review. Of the Sh1.7 trillion spent on public debt, Sh992.4 billion went to domestic creditors, with interest payments forming the largest share.
Data shows that the Madaraka Express earned Sh2.068 billion between January and June, an 11.65 percent increase from Sh1.85 billion over the same period in 2024.
Projects let you organize chats with the company's AI assistant around a specific subject, and were previously one of several privileges only enjoyed by paid subscribers.
Kebs argues that Kiscol’s financial position raises doubts about its ability to meet potential costs should its suit be dismissed.
The launch, themed “Awe Dropping,” will begin at 8 pm Kenyan time and will be available on Apple’s website and YouTube channel, with local fans expected to follow closely.
Under the programme, the Affordable Housing Board will retain ownership of the houses for the first nine years, overseeing their upkeep and ensuring the developments gain value over time.
National Treasury Cabinet Secretary John Mbadi has made it clear that no public office will be allowed to procure goods or services outside the system.
The Auditor-General’s report shows uncollected taxes have surged to Sh2.3 trillion, more than double the Sh999.6 billion reported last year.
The system, known as the Daraja Fibre Optic Cable, promises to deliver greater internet speed, stability, and capacity than existing infrastructure.
Data indicates that net domestic borrowing hit Sh854.5 billion, against the original target of Sh263.2 billion, as authorities leaned heavily on local lenders to fill the financing gap.
The property includes a newly built edible oil processing plant on two land parcels measuring 25 acres, alongside machinery and storage facilities. The auction is scheduled for September 9, 2025.
Data from the Kenya National Bureau of Statistics (KNBS) shows imports from China rose to Sh304.65 billion between January and June 2025, up from Sh257.70 billion in the same period last year.
The US had been the largest buyer of Kenyan coffee in the previous 2022/23 season, when it purchased 11,228 tonnes worth Sh7.93 billion and commanded a 23.41 percent share of the country’s exports.
Data from the Central Bank of Kenya (CBK) shows the amount rose by 5.58 percent from Sh86.99 billion in 2023, marking the fifth consecutive year of growth in remittances sent out of the country.
The new rules, set to take effect on November 1, 2025, aim to regulate cross-border deals and prevent anticompetitive practices within the bloc.
The National Assembly’s departmental committee on trade, industry and cooperatives said the deal undervalues the cement maker’s assets, which include investment properties worth Sh21.23 billion, largely comprising 4,626 acres of freehold land.