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George Obulutsa

Kenya passes data protection law crucial for tech investments

08 Nov 2019

NAIROBI Kenyan President Uhuru Kenyatta on Friday approved a data protection law which complies with European Union legal standards as it looks to bolster investment in its information technology sector.

Kenyan lenders target small and medium businesses with digital loans

06 Nov 2019

NAIROBI A group of Kenyan banks on Wednesday committed 10 billion Kenyan shillings ($97 million) in loans to small and medium businesses under a new mobile phone-based loan service targeting a fast-growing segment which has traditionally been under-served.

Kenya's president refuses to sign the budget over rate cap

17 Oct 2019

NAIROBI Kenyan President Uhuru Kenyatta has demanded that lawmakers remove a cap on commercial lending rates, refusing to approve the 2019/20 (July-June) budget unless the limit is lifted, a document sent to parliament from the presidency showed on Thursday.

World Bank cuts Sub-Saharan Africa's 2019,2020 growth forecast

09 Oct 2019

NAIROBI, Oct 9 The World Bank on Wednesday cut its economic growth forecast for sub-Saharan Africa for 2019 to 2021 by 0.2 percentage points from its earlier projection, citing a slowdown in fixed investment and policy uncertainty in the global economy.

Japan to give Kenya about $860 million in loans, grants for bridge, economic zone

20 Sep 2019

NAIROBI Japan will give Kenya nearly $860 million in concessional loans and grants for the construction of a bridge in the port city of Mombasa and other infrastructure projects to support an economic zone there, Kenyan and Japanese officials said on Friday.

UPDATE 2-Kenyan lawmakers reject Treasury bid to repeal rate cap

18 Sep 2019

NAIROBI, Sept 18 A Kenyan parliamentary committee has blocked the finance ministry's move to scrap a cap on commercial lending rates imposed by lawmakers in 2016, the committee said on Wednesday.

Kenyan lawmakers discuss court-ordered changes to rate cap law

11 Sep 2019

NAIROBI Kenyan lawmakers on Tuesday debated changes to a law capping commercial interest rates after the High Court gave parliament an ultimatum to alter the law to comply with the constitution.

Kenya anti-graft body halts Telkom, Airtel merger to conduct probe

28 Aug 2019

NAIROBI Kenya's anti-corruption commission said on Wednesday it had suspended a planned merger of Airtel Kenya with partly state-owned Telkom Kenya pending a probe into allegations about the misappropriation of public funds at Telkom.

UPDATE 2-Kenya's Equity boosted by loan growth, sees rate cap removed

01 Aug 2019

* CEO confident lending rate cap will be removed (Adds comments on interest rate cap)

UPDATE 3-Kenya's central bank chief plays down impact of Rotich charges

25 Jul 2019

* Governor says no vacuum at the Treasury after minister's charges

World News