Constant Munda

3 days ago | businessdailyafrica.com | Constant Munda

Contractors in the building and construction sector defaulted on more than a third of loans they took to undertake projects, underlining the impact of stalled government projects on banks. Data from the Central Bank of Kenya shows Sh52.1 billion out of a Sh140 billion loan book for the sector was non-performing at the close of 2024.

3 days ago | businessdailyafrica.com | Constant Munda

The Treasury has proposed to increase funding for IMF-backed automation of public tendering in a bid to lock cartels, who steal an estimated third of the annual budget, from fat State deals. Cabinet Secretary John Mbadi is seeking lawmakers’ approval to raise allocation for the rollout of the electronic government procurement system (e-GP) by more than three-quarters (78.57 percent) to Sh1 billion for the year starting July.

4 days ago | nation.africa | Constant Munda

Defaults on loans tapped to buy homes, land and vehicles shot up by nearly a fifth to Sh173.3 billion last year on elevated interest rates, triggering a wave of auctions in a softening economy where business and households grappled with reduced earnings. Analysis of the latest Central Bank of Kenya data shows the stock of gross non-performing loans for the real estate and transportation sectors grew 18.7 percent from Sh146 billion in the prior year.

4 days ago | businessdailyafrica.com | Constant Munda

Defaults on loans tapped to buy homes, land and vehicles shot up by nearly a fifth to Sh173.3 billion last year on elevated interest rates, triggering a wave of auctions in a softening economy where business and households grappled with reduced earnings. Analysis of the latest Central Bank of Kenya (CBK) data shows the stock of gross non-performing loans (NPLs) for the real estate and transportation sectors grew 18.7 percent from Sh146 billion in the prior year.

1 week ago | businessdailyafrica.com | Constant Munda

Kenya has made a direct formal appeal to the United States to reverse the 10 percent tariff on exports to preserve duty-free exports for tens of products from the country and protect more than 65,000 jobs. Trade Cabinet Secretary Lee Kinyanjui said Nairobi has received a positive initial response from Washington following the appeal.