Branch Mobile Loan App Buys Kenyan Bank
File image of a man on his phone
Twitter
Popular mobile loan app Branch has received regulator approval to buy majority shares in Century Microfinance Bank Limited.
A gazette notice dated Friday, May 7 indicated that Branch International Limited had been authorised to take up 84.89% of the issued share capital in Century Microfinance Bank Limited. Pursuant to the provisions of section 46 (6) of the Competition Act, 2010, it is notified for general information that in exercise of the powers conferred upon the the Competition Act, the Competition Authority has authorised the proposed transaction as set out, reads an excerpt of the gazette notice.
Mututho s 8-Bedroom House in Kawangware to be Auctioned
Former Naivasha MP John Mututho addressed the media on September 18, 2019 in Nakuru County
Daily Nation
Former Chair of the National Authority for the Campaign Against Alcohol and Drug Abuse (NACADA) John Mututho has had his house put up for auction.
The double-storey 8-bedroom mansion located in Riruta Satellite in Kawangware is registered in the name of John Michael Njenga Mututho.
The land which the house sits on has 17 other single rooms which have also been put up for sale by Garam Investments.
Former National Authority for Campaign against Alcohol and Drug Abuse (Nacada) chairman John Mututho.
THE STANDARD
BUSINESS NEWS
A view of the Central Bank of Kenya Head office in Nairobi. [File, Standard]
Top officials at the National Treasury and Central Bank of Kenya told the International Monetary Fund (IMF) that the high unemployment numbers given by employers were false.
In what is likely to fuel tension, the government told the Washington-based institution that employers and manufacturers might have taken advantage of the Covid-19 Pandemic to exaggerate the negative economic impact.
“They (Kenyan authorities) pointed to the high level of uncertainty and difficulties in capturing recent developments in economic statistics as traditionally compiled, noting that reported downturns in manufacturing and employment may have been overstated,” said the IMF in a detailed report on the Sh253 billion credit facility that Kenya received earlier this week.
Kenya to IMF; employers overstated job loss figures standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.
Uganda joins neighbours in seeking $750m in new loans
Tuesday April 06 2021
The ongoing construction of the Nairobi Expressway to the Jomo Kenyatta International Airport. Infrastructure development ranks high on projects that lead countries into debt. PHOTO | DENNIS ONSONGO | NMG
Summary
Tanzania launched a $200 million seven- and 10-year loan facility into syndication in February.
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East African governments are seeking to borrow more than $750 million in syndicated loans to counter the adverse economic impact of the Covid-19 pandemic.
Kenya, Uganda, South Sudan, and Tanzania have all been in the market in the past two months seeking either syndicated loans or special drawing rights from the International Monetary Fund (IMF), as they seek to stabilise economies experiencing pandemic-induced shocks.