Dominic Omondi

2 days ago | nation.africa | Dominic Omondi |Sam Kiplagat

Defaulters of affordable housing loans will have a shorter window to regularize their mortgages before their homes are auctioned should the Senate ratify a fresh amendment to the Land Act 2012.

1 week ago | businessdailyafrica.com | Dominic Omondi |Sam Kiplagat

Defaulters of affordable housing loans will have a shorter window to regularise their mortgages before their homes are auctioned should the Senate ratify a fresh amendment to the Land Act 2012. The Business Laws (Amendment) Bill, 2024 proposes to slash the lifeline given to defaulters of cheaper home loans to clear their bad credit history from the normal 90 days to 45 days, an incentive to banks and other institutions who might want to provide mortgages to first-time homeowners.

1 week ago | businessdailyafrica.com | Dominic Omondi

Top banks in Kenya have adopted additional international payment systems, hoping to tap the rising inflow of cross-border trade and investment. In the latest development, Stanbic Bank Kenya’s parent company Standard Bank revealed that it would join China's global interbank payment system (CIPS) by the end of 2025—joining other top banks such as KCB Group and Equity which recently expanded their international payment options for traders and investors amid rising global transactions.

1 week ago | businessdailyafrica.com | Dominic Omondi

A company associated with billionaire businessman Jaswinder Bedi has suffered a double blow after the Tax Appeals Tribunal ordered it to pay higher capital gains tax (CGT) and exchange rates for the sale of a property in Nairobi about three years ago. CGT is the levy investors pay on the profits—or gain—made when they sell, give away, or dispose of an asset, such as shares or property like homes or buildings.

2 weeks ago | businessdailyafrica.com | Dominic Omondi

Cash transfers to the needy will be periodically adjusted for inflation if Parliament approves a proposal to cushion the beneficiaries against the erosion of the real value of their social protection benefits and safeguard their well-being. A government-backed Bill proposes inflation-adjusted social protection benefits to help beneficiaries keep up with the increase in consumer prices of critical items, including food and drugs.