Category: Business News

January 28, 2020 0

Banks have no timeline to synchronize loan rates with CBK’s Benchmark – Njoroge

By mykenyancareers

NAIROBI, Kenya, Jan 28 – Central Bank of Kenya (CBK) says there are no specific timelines for banks and financial institutions to synchronize loan rates with its benchmark rate. Governor Patrick Njoroge said the lenders are only expected to comply with Section 33B of the Banking Act even as the effects of the repealing of … Continue reading “Banks have no timeline to synchronize loan rates with CBK’s Benchmark – Njoroge”

January 28, 2020 0

President Kenyatta presides over official opening of Shs 5.8bn cement factory in Salgaa

By mykenyancareers

NAKURU, Kenya, Jan 28 – President Uhuru Kenyatta has presided over the opening of a Sh5.8 billion cement factory in Salgaa, Nakuru County that is set to change the economy of the area. The Simba Cement factory that will create 700 direct jobs is set to boost the construction sector by enhancing availability of cement … Continue reading “President Kenyatta presides over official opening of Shs 5.8bn cement factory in Salgaa”

January 28, 2020 0

TVET is key in securing jobs for the youth, President Kenyatta says

By mykenyancareers

NAIROBI, Kenya, Jan 28 – President Uhuru Kenyatta has underscored the Government’s commitment to supporting the development of technical institutions, saying the country’s future lies in Technical and Vocational Education and Training (TVET). The President emphasized that TVET will equip the youth with requisite skills that will enable them to use their hands and their … Continue reading “TVET is key in securing jobs for the youth, President Kenyatta says”

January 28, 2020 0

Kenya, Egypt resolve to enhance economic and political collaborations

By mykenyancareers

CAIRO, Egypt, Jan 28 – Kenya and Egypt have resolved to enhance economic and Political collaboration even as they agreed to champion the African Free Trade Area regime in the continent. Speaking when he met the Prime Minister of Egypt, Mostafa Madbouly and his counterpart from the Egyptian House of Representatives, Ali Abdel Aal, Speaker … Continue reading “Kenya, Egypt resolve to enhance economic and political collaborations”

January 28, 2020 0

Current account deficit to remain stable in 2020, CBK

By mykenyancareers

NAIROBI, Kenya, Jan 28 – Kenya’s foreign exchange market has remained stable, supported by the narrowing of the current account deficit and balanced flows. A finding by Central Bank of Kenya shows that current account deficit, which is the balance of foreign exchange inflows and outflows as a percentage of gross domestic product (GDP), narrowed to … Continue reading “Current account deficit to remain stable in 2020, CBK”

January 28, 2020 0

Ajira Programme inducts more than 200 youths

By mykenyancareers

NAIROBI, Kenya, Jan 28 – The Ministry of Information, Communication and Technology has inducted 230 interns into the Public Service, under the Ajira programme. Principal Secretary for ICT Jerome Ochieng said the interns will be posted to County Information offices countrywide, where they are expected to help facilitate the success of the program by providing technical support … Continue reading “Ajira Programme inducts more than 200 youths”

January 27, 2020 0

CBK spares borrowers of higher cost of loans, cuts benchmark rate to 8.25pc

By mykenyancareers

NAIROBI, Kenya, Jan 27 – Central Bank of Kenya has spared borrowers higher cost of loans after its Monetary Policy Committee cut its benchmark loan rate to 8.25 percent. The committee, which was holding its first meeting for the year, said it cut the rate in an environment where inflation expectations were within the target … Continue reading “CBK spares borrowers of higher cost of loans, cuts benchmark rate to 8.25pc”

January 27, 2020 0

Manufacturers urged to create global partnerships

By mykenyancareers

NAIROBI, Kenya, Jan 27 – Manufacturers have been urged to take advantage of foreign investors’ interest in Kenya and create global partnerships. Speaking during the Kenya – Japan Business Forum, Meghraj Group Chair Binoy Meghraj noted that foreign direct investment is a sure way of driving industrial growth in both countries adding that global partnerships … Continue reading “Manufacturers urged to create global partnerships”

January 27, 2020 0

Decline in global car sales continue, Kenya not left behind

By mykenyancareers

NAIROBI, Kenya, Jan 27 – The sale of new luxury vehicles in Kenya plunged deeper into recession in 2019, with sales dropping more than 47.9 percent, compared to orders in the overall new vehicle market. According to the Kenya Motor Industry Association, unit sales of luxury brands such as Land Rover and Mercedes feel to … Continue reading “Decline in global car sales continue, Kenya not left behind”

January 27, 2020 0

Two Rivers hosts Chinese New Year celebrations in Kenya

By mykenyancareers

NAIROBI, Kenya, Jan 27 – Two Rivers will host the 2020 Chinese Spring Festival, which kicks off Monday and ends on February 2.  The ten-day event has been organized by Two Rivers in partnership with the Chinese Embassy, Confucius Institute at the University of Nairobi and the Erdemann Chinese Culture Centre.  Among the activities lined up … Continue reading “Two Rivers hosts Chinese New Year celebrations in Kenya”