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The Kenyan Wall Street
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It's Brian from The Kenyan Wall Street.
In today's edition of ‘The Daily Brief’, several commercial banks reduced their interest rates in December in line with the CBK directive…
We uncover bits of the corruption in major state agencies and parastatals and…
Why the COMESA Competition watchdog is hounding KQ and Zambia Airways…
Did Banks cut their interest rates??
Majority of Kenya’s commercial banks have slashed interest rates on lending and deposits to a 4-month low, months after the Central Bank of Kenya (CBK) began its ongoing easing policy.?
The Central Bank began easing interests in August 2024 hoping it would nudge commercial banks to loan the private sector at cheaper rates. However, banks were dodgy on the decision to reduce their interest rates.?
The CBK governor, Kamau Thugge, was not a happy man. After the December MPC briefing, he asked banks to be fair to their customers. If the Central Bank had done it, why shouldn't they??
We can report that only 23 banks slashed their interests rates in December. 14 banks hiked the rates. Only Equity Bank retained its November rate.?
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In this article, Zainab Hafsah delves into the banking sector highlighting how lending rates for different banks look like >>>>>
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Corruption-meter : Parastatals on EACC’s watch?
Several state agencies may have lost billions of money through misappropriation and procurement irregularities, according to a new report by EACC.?
They include : The Kenya Ports Authority, Consolidated Bank of Kenya, the defunct National Health Insurance Fund (NHIF), Kenyatta National Hospital, Kenya National Highways Authority, Kenya Power, Geothermal Development Corporation, and Kenya Broadcasting Corporation. The Kenya Ports Authority (KPA), for instance, is under investigation for misappropriation of KSh 1.7 billion meant to compensate fishermen affected by the LAPSSET project.?
The report has damning revelations on ongoing cases against entities wasting taxpayers’ money, engaging in economic crimes, and the rancid corpse of unethical conduct in government corridors.?
Fred Obura expounds more in this article >>>>
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