Author: Muindi

Kenyan banks restructured loans worth KShs 1.12 trillion equivalent to 38 percent of the total loan book by end of August the Central Bank says. CBK said this was in line with the emergency measures announced March 18 to provide relief to borrowers. “These measures have continued to provide the intended relief to borrowers,” said Dr. Patrick Njoroge, Chairman monetary policy Committee when they met Tuesday. According to the regulator’s data, personal and household loans topped the list with KShs 271 billion in the period. For other sectors, a total of Ksh 849.9 billion had been restructured mainly to trade…

All schools in Kenya will continue to remain closed indefinitely in view of the COVID-19 pandemic until education stakeholders have agreed on necessary modalities. On Monday,  President Uhuru Kenyatta during his 12th presidential address on the COVID-19 pandemic announced that the school’s resumption will be effected once the safety of all children is guaranteed. “The lives and health of our children is not a matter of debate. Learning institutions should be reopened only when we can sufficiently guarantee the safety of our children.” “In that regard, I, therefore, direct and order the Cabinet Secretary for Education to issue the Calendar…

NCBA Bank has partnered with Tatu City to provide mortgage facilities to house buyers at the Kiambu County-based mixed-use property development. Under the deal, the lender will provide prospective homeowners with options including plot purchase, construction financing, buy and build loans, equity release and closing costs. The mortgage financing will be available for both salaried and non-salaried individuals, is expected to be at an interest rate of 13.0 percent with a minimum deposit rate of 10.0 percent of the property value.  Buyers purchasing land within the Tatu City project will receive up to 70.0 percent financing with a repayment period…

Nairobi Stocks Exchange (NSE) has issued an extension to the suspension from trading of Kenya Airways shares for an additional six months with effect from October 4, 2020. “Notice is hereby given on the extension of suspension from trading of Kenya Airways Plc shares,” NSE said in a statement. The extension will allow the conclusion of the airline’s operational and corporate restructuring and its nationalization following the publication of the National Management Aviation Bill, 2020, on June 18, 2020. The Capital Markets Authority (CMA) approved the suspension pursuant to the Capital Markets Act and regulation 22. The Kenyan government owns…

In order to facilitate the construction of the Nairobi Expressway, Kenya Power has commenced the relocation of its existing electricity infrastructure at a cost of KSh1.08 billion. The utility company said the cost will be met by the Kenya National Highways Authority (KeNHA). The power lines to be moved are between Mlolongo, Mombasa road and James Gichuru road will pave way for construction of the 27.1-kilometer-long Nairobi Expressway. The scope of work will involve the relocation of a combined 106 kilometrers of high voltage (66kV), medium voltage (11kV), and low voltage cables as well as 28 transformers serving the area.…

Low-cost carrier Jambojet has launched a brand campaign called “Now Travel Ready” to encourage air travel as Kenya begins its Covid-19 recovery process. “With the launch of this campaign, we want to show our customers the new normal of travel. From the moment they leave their home, to when they get to the airport, arrive at their destination, the hotels they can stay at and the measures in place, as well as the activities they can take part in,” said Jambojet head of sales and marketing, Titus Oboogi. Jambojet resumed operations to five local destinations in July after the Government…