Business Daily Africa

1 day ago | businessdailyafrica.com | John Waweru Kamau

Bad loans held by consumers overtook those of retailers, real estate and manufacturers, underlining the effects of shrinking payslips and layoffs on debt repayments. Latest data from the Central Bank of Kenya (CBK) reveals that non-performing loans under households grew by 75.1 percent to Sh148 billion at the end of September last year. This saw defaulted consumer loans surpass those held by retailers and wholesalers (Sh125 billion), manufacturers (Sh125 billion) and real estate (Sh99 billion).

1 day ago | businessdailyafrica.com | Charles Mwaniki

The Central Bank of Kenya (CBK) has poured cold water on a proposal by commercial banks to use the interbank rate as a reference rate for determining the pricing of consumers' loans, saying it will not accurately reflect their true cost of funding.

1 day ago | businessdailyafrica.com | Lynet Igadwah

Teachers across the country could soon enjoy more predictable and structured allowances if Members of Parliament approve the Teachers Service Commission (Amendment) Bill, 2024 that is before the National Assembly. The proposed legislation seeks to amend the Teachers Service Commission Act of 2012 to provide clarity and consistency in how allowances are managed within the teaching profession.

2 days ago | businessdailyafrica.com | Charles Mwaniki

Commercial banks have been denying good borrowers cheaper credit through improper application of their risk-based pricing models and imposition of additional charges on loan facilities, the Central Bank of Kenya (CBK) has disclosed in a working paper ahead of an overhaul of the current loan pricing regime.

2 days ago | businessdailyafrica.com | Charles Mwaniki

The International Finance Corporation (IFC) is lining up a $100 million (Sh12.98 billion) loan loss cover for trade finance facilities backed by South African lender Absa Group in its markets in Africa, new disclosures show.