Business News

ARM Woes Far from Over.

Shareholders of troubled Cement Maker Athi River Mining Company will have to wait longer to know the fate of the company as Businessman Jaswant Rai heads back to court on Monday. Directors and majority shareholders of the now suspended NSE listed firm had accused the Administrator PwC of undervaluing the firm’s assets and accepting a …

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The Rate Cap is here to Stay!

Kenyan parliamentary committee has rejected a request from the finance ministry to scrap the cap on commercial interest rates imposed by lawmakers in 2016, a document seen by Reuters on Wednesday showed. The Finance and National Planning Committee instead recommended that the law capping lending rates be rewritten more clearly. The finance ministry had asked …

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Former CBK Governor urges greater mobile money connectivity

The study, carried out by former Central Bank of Kenya (CBK) governor Njuguna Ndung’u shows that Safaricom’s control of a large proportion of the mobile money market gives it incentive to restrict access to competitors. Prof Ndung’u, during whose reign as CBK boss Safaricom’s M-Pesa money transfer services were licensed and launched, said the cost …

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