Kenyans are being locked out of critical information on development creating a fertile ground for corruption, misuse of public funds and worsening the debt crisis, Transparency International has raised alarm. The anti-corruption lobby says non-disclosure agreements signed in major government contracts and resource backed commitments is undermining public accountability atContinue Reading
Nineteen current and former officials of Metropolitan National Sacco have been charged in court over an alleged Ksh.14.4 billion fraud scheme and multiple violations of Kenya’s Sacco laws tied to the management of the society between 2012 and 2021. According to the charge sheet presented in court, the accused personsContinue Reading
The Co-operative Bank of Kenya has unveiled a digital overdraft facility aimed at enabling customers to overdraw their accounts by up to Sh100,000 to complete transactions. Dubbled Kamilisha, the product targeting to boost business operations, especially for small businesses, places it in direct competition with Safaricom’s market-leading Fuliza and EquityContinue Reading
Two private companies have moved to court over the parking fee collection contract at Jomo Kenyatta International Airport (JKIA) worth over Sh2 billion, citing defiance of court orders by Kenya Airports Authority (KAA). The Standard Newspaper reports In a legal dispute that has from 2019 moved from the Public ProcurementContinue Reading
The Co-operative Bank of Kenya has announced a major milestone in its journey toward growth and innovation. As part of an expansive strategy to strengthen its foothold in the Kenyan financial sector, the bank has recruited 1,104 new employees. This development not only underscores Co-op Bank’s commitment to providing exceptionalContinue Reading
The troubles facing George Ototo, the sacked Kenya Union of Savings and Credit Cooperative Society (Kuscco) Managing director seems to be far from over after detectives based at DCI Headquarters summoned him few weeks ago over his role in the alleged looting of once a giant cooperative society. Mr. Ototo,Continue Reading
Kenyan businesses and agencies hit by cybercrime were last year forced to part with an average of $4.35 million (Sh561 million) to restore their services, Communications Authority has revealed. This saw the country suffer losses amounting to $83 million (Sh10.71 billion), the second highest in Africa. Data by the NationalContinue Reading
Kenyan banker John Gachora, the Group Managing Director and Chief Executive Officer of NCBA Group, one of the leading financial services groups in the largest economy in the East African Community, received a total compensation of Ksh185.76 million ($1.44 million) from the leading lender in 2023. Billionaires. Africa, a business website reports TheContinue Reading
Joshua Oigara, the Chief Executive and Executive Director of Stanbic Bank Kenya Limited, has sued the Directorate of Criminal Investigations (DCI), citing improper summons over a case involving the bank and Air Afrik Aviation Limited. In the case presented before High Court Judge Chacha Mwita, the CEO claims the BankingContinue Reading
The High Court has ordered real estate company Certified Homes Limited owned by one Peter Nyaga to respond to the suit filed by its three US-based clients in a dispute over Sh15.5 million within 14 days. The People Daily Reports. Mr Nyaga is the former Chief executive officer of MahigaContinue Reading