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Business Daily

Ex-Imperial Bank boss’ family accused of stripping his estate

The family of former Imperial Bank managing director Abdulmalek Janmohammed has been reluctant to take control of his estate.

Nema spells out garbage collection guidelines for counties

The regulator has prepared a scorecard to guide ranking of counties on solid waste management as it moves to promote self-regulation.

Kenya banks on new Japan rating to get more tourists

Kenya is banking on positive travel ratings by the Japanese government to grow its annual tourist numbers and boost business from the Asian State.

University of Nairobi plans hostel for 4,000 in deal with investors

The University of Nairobi is set to construct a multi-billion shilling hostel complex to accommodate 4,000 students on its main campus amid rising student population.

Healthcare: Patients pay the price as counties and doctors play blame game

Patients are the greatest losers and they sometimes pay the price with their lives,
 

Blog Posts

Kenya’s private sector sees improved growth

Posted by CFO Kenya on September 22, 2016 at 8:00 0 Comments

According to the latest Purchasing Managers Index (PMI) released by CfC Stanbic Bank and market research firm IHS Markit, output and job creation increased during August, putting Kenya’s private sector on a higher growth path.



CfC Stanbic and Markit said…

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KRA introcudes digital excise stamps to curb tax leakages

Posted by CFO Kenya on September 15, 2016 at 8:00 0 Comments

In a bid to seal tax leakages, the Kenya Revenue Authority (KRA) has introduced new generation excise stamps for wines, spirits, tobacco and beer. The stamps feature a quick response code (QR code) that allows distributors, retailers and consumers to use an app on their smartphones to…

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President Uhuru Kenyatta caps interest rate

Posted by CFO Kenya on September 8, 2016 at 8:00 0 Comments

Following President Uhuru Kenyatta’s (pictured) signing of a law capping the interest rates lenders can charge on loans, shares of Kenyan banks plunged.

KCB Group Ltd., the country’s largest bank by assets, slumped the most, dropping to its lowest level since December 2012, while Cooperative Bank Ltd. plummeted the most…

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Rob Tims named new Rhino Resources CFO

Posted by CFO Kenya on September 1, 2016 at 8:00 0 Comments

Rhino Resources, a global energy company, has announced the addition of London-based CFO Rob Tims to its leadership team. Tims, a 25-year veteran of the oil and gas industry and whose experience spans operations, finance, banking and consulting, has for the past 10 years,…

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CFO Kenya is founded by CFO Africa, a pan African network for senior finance professionals. CFO Africa connects professionals online and live in order to share knowledge, exchange interests and open up business opportunities. CFO Africa operates in Kenya, Nigeria and South Africa and is looking for partners to launch activities in other African countries. www.cfoafrica.net

Latest Activity

CFO Kenya posted a blog post

Kenya’s private sector sees improved growth

According to the latest Purchasing Managers Index (PMI) released by CfC Stanbic Bank and market research firm IHS Markit, output and job creation increased during August, putting Kenya’s private sector on a higher growth path. CfC Stanbic and Markit said in a statement:“The seasonally adjusted PMI inched higher in August,…See More
Thursday
CFO Kenya posted a blog post

KRA introcudes digital excise stamps to curb tax leakages

In a bid to seal tax leakages, the Kenya Revenue Authority (KRA) has introduced new generation excise stamps for wines, spirits, tobacco and beer. The stamps feature a quick response code (QR code) that allows distributors, retailers and consumers to use an app on their smartphones to verify the authenticity of the products. Benson…See More
Sep 15
CFO Kenya posted a blog post

Rob Tims named new Rhino Resources CFO

Rhino Resources, a global energy company, has announced the addition of London-based CFO Rob Tims to its leadership team. Tims, a 25-year veteran of the oil and gas industry and whose experience spans operations, finance, banking and consulting, has for the past 10 years, served as Managing Director with responsibility for…See More
Sep 1
CFO Kenya posted a blog post

ARM Cement anticipates Sh14bn injection to kick start new Kitui plant

Nairobi Securities Exchange-listed ARM Cement, majority owned by the Paunrana family, is counting on a $140 million (Sh14 billion) capital investment from the CDC Group, a British government-owned fund, to help finance the establishment of a new clinker and cement plant. Work on the integrated cement factory, due to be set up…See More
Aug 25
CFO Kenya posted a blog post

CBK proposes three-year limit for bank auditors

The Central Bank of Kenya (CBK) has put banks on notice with plans to introduce three-year term limits for external auditors handling their books. This as a means of boosting governance and quelling the regulator’s concerns in this regard, following several external auditors becoming entangled in the collapse of…See More
Aug 11
CFO Kenya posted a blog post

Kenya eyes lower spending in 2017/18 fiscal year

According to Treasury, Kenya expects public spending to fall to 27.7% of GDP in the year to June 2018, from 30.6% in the current fiscal year. Furthermore, in guidelines for the 2017/18 budget, it said total revenue collection would be closer to 20% of GDP, unchanged from this year. Kamau Thugge, Treasury's principal…See More
Aug 4
CFO Kenya posted a blog post

Safaricom to pay special dividend

Telecoms operator Safaricom, 40 percent owned by Britain's Vodafone, has announced that it will pay a special dividend of 0.68 shillings ($0.0067) per share. Safaricom CEO Bob Collymore said in a statement:"There is room for this one-off special dividend of 27.5 billion shillings due to the cash position of the company, and…See More
Jul 28
CFO Kenya posted blog posts
Jul 21
CFO Kenya posted a blog post

Safaricom and Craft Silicon launch Uber competitor

Safaricom, Kenya's biggest telecoms company, 40 percent owned by Britain's Vodafone, has joined forces with a local software firm, Craft Silicon, to launch a ride-hailing company that will take on Uber. According to Safaricom CEO Bob Collymore (pictured), Little Cabs, as the company will be known, will…See More
Jul 7
CFO Kenya posted a blog post

Kenya financially strong enough to withstand Brexit fallout

According to Governor Patrick Njoroge (pictured), Kenya's central bank has enough forex reserves and funds available from an IMF standby facility to come through any fallout from the recent Brexit debacle.Speaking at a news conference last week, the governor said: "We think we are in a comfortable position." Despite this,…See More
Jun 30
CFO Kenya posted blog posts
Jun 23
CFO Kenya posted a blog post

Kenya’s budget deficit increases

Kenya's budget deficit for the fiscal year 2016/17 looks to be more than 9% of gross domestic product (GDP).This according to a recent forecast by the country’s finance minister, Henry Rotich, who said in his budget speech that the deficit would be 691.5 billion shillings ($6.9 billion). Earlier this year…See More
Jun 16
CFO Kenya posted a blog post

South Korea to help Kenya establish science and technology institute

South Korea's President Park Geun-hye recently met with Kenya’s President Uhuru Kenyatta to discuss various matters over the former's three-day visit to the east African country. Among these was a deal to help Kenya set up a science and technology centre.Korea will support the full establishment of the Kenya Advanced Institute of…See More
Jun 9
CFO Kenya posted a blog post

Potential Sh4 billion fine for Imperial Bank heads

The Capital Markets Authority (CMA) board has set up hearings to determine what role the former directors of the fallen Imperial Bank played in, and thus their liability for, material misstatements contained in the information memorandum issued to the investing public by way of their Sh2 billion bond issue just before the bank…See More
Jun 2
CFO Kenya posted a blog post

IRA report: underwriters made Sh226 million loss in 2015

According to the Insurance Regulatory Authority (IRA) report for the fourth quarter of 2015, insurance companies incurred underwriting losses for general business in 2015. The net insurance loss was Sh226.3 million, compared to the Sh2.5 billion profit reported in 2014. The report, released by Sammy Makove, IRA chief…See More
May 26
Profile IconDaniel Mwaniki, Jovan Grujic, Losike Albert Koteen and 7 more joined CFO Kenya | Finance Professionals Kenya
May 21

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