The value of outstanding mobile loans in Kenya shrunk by 24.93 percent in the year ended December 2023 as lenders cut back on loans to small borrowers amid concerns about rising loan defaults. A new ...

The Kenya Bankers Association (KBA) now says the government could lose up to 10 percent of its tax revenue that comes from the sector, which is an equivalent of 180 billion shillings of its revenue if ...

When banks give out unsecured loans, there is a high risk that customers may be unable to pay their loans due to unforseen circumstances. What do they do then?

Mobile loans most common form of credit, but cautious borrowing led to decrease in both the issuance of new accounts and ...

More than a quarter of loan accounts in Kenya have been blacklisted by credit reference bureaus (CRBs) in a soft economy where costly credit has pushed thousands of borrowers into a debt trap. Data ...

while loan-loss provisions stood at 6.3 billion shillings, up from 4.12 billion shillings. “This was as a result of downgrades in Kenya and the impact of translation of the foreign currency ...

In a statement released on May 17, 2024, the Kenya Bankers Association (KBA) urged members of parliament and the Treasury to reconsider the new tax proposal on bank charges. PAY ATTENTION: Share your ...

The proposed finance bill 2024 is set to make digital services such as MPESA more expensive if passed. We take an in-depth look ...

The proposed law seeks to introduce a 2.5 per cent annual tax on the value of vehicles, with the deduction set at a minimum of Sh5,000 and a maximum of Sh100,000 whichever is higher. The deduction, ...

"If implemented, this excise duty will trigger an unprecedented surge in the price of cooking oil, a staple in Kenyan households," read part of the statement. Clause: Scrapping of VAT Exemptions for ...

President Joe Biden on Thursday expressed deep appreciation to Kenyan President William Ruto for the coming deployment of Kenyan police forces to help quell gang violence in Haiti and he defended his ...