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The East African Business Mirror

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Bank credit growth jumps to highest in 32 months

Recently, the central bank raised its policy rate for the first time since April 2016 when it embarked on an easing cycle to stimulate...

Co-op Bank posts higher third quarter net profit

Co-operative Bank has reported an eight percent growth in net profit for the nine months ended September. The growth was boosted by higher interest income...

CBK refuses to reverse huge penalty to banks over NYS scam

Five banks used in handling stolen National Youth Service (NYS) funds have failed to convince the Central Bank of Kenya to drop or alter...

Showdown looms as matatu groups withdraw from umbrella body

A showdown looms after officials representing matatu associations and saccos withdrew their membership from the giant organisation Matatu Owners Association (MOA). The officials, led by...

Kenya, Uganda top in hospitality industry targets

Kenya and Uganda are among the top 10 preferred African countries for hotel developments, with hotels planning to add new rooms this year. The two...

Uganda force new telcos to share infrastructure

Uganda will force new investors in telecommunications services to rent capacity from existing fibre optic cables, rather than lay their own, to stem infrastructure...

East Africa ports push again to attract shipping lines

Regional ports are banking on the development of infrastructure and the ease of cargo evacuation and delivery to remain competitive. The ports of Djibouti, Mombasa...

Urithi wants housing revolving fund for co-operatives

Urithi Housing Finance Cooperative Society has asked the government to create a revolving fund from which groups can borrow to build homes for members. Samuel...

Peugeot assembly now starts in Thika

French automaker Peugeot S.A. has started local assembly of its brands at Thika-based Kenya Vehicle Manufacturers (KVM), becoming the latest multinational to produce vehicles...

Cashew nut dealers suffer as Magufuli deploys army

Tanzania's cashew nut dealers say President John Magufuli's decision to order the government to purchase the crop has affected them financially because most of...

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