(NAIROBI, KENYA) – The Central Bank of Kenya has raised alarm over a sharp rise in regulatory breaches by local lenders after 35 commercial banks were found to have broken the Banking Act and Central Bank of Kenya (CBK) prudential guidelines in 2025. This is a 318% increase in nonContinue Reading
(NAIROBI, KENYA) – Local contractors and truck owners have sued the Kenyan government to force it to publish tax and duty concessions granted to Chinese contractors on infrastructure projects. The petitioners say the unpublished exemptions give foreign firms an unfair edge, creating a 25% to 35% cost gap in theirContinue Reading
(NAIROBI, KENYA) – The Central Bank of Kenya fined 33 commercial banks for failing to pass on lower loan rates to borrowers, in a record enforcement action covering most of the industry. The penalties followed on-site inspections of all 38 commercial banks, after which the regulator moved to force lendersContinue Reading
(NAIROBI, KENYA) – Kenya’s Capital Markets Tribunal (CMT) has been unable to hear cases for close to five months because it lacks the quorum required to sit, leaving high value corporate disputes and regulatory appeals unresolved. Sources told The Daily Handle the Tribunal has been without the quorum needed toContinue Reading
(NAIROBI, KENYA) – Kenya has ordered an inquiry into the financial health and governance structures of the NHIF Sacco, following a warning over the possible liquidation of the troubled Metropolitan National Sacco over its poor cash position. Commissioner for Co-operatives David Obonyo told The Daily Handle on 22nd September theContinue Reading
(NAIROBI, KENYA) – Nairobi Hospital has told the High Court it remains financially stable, well capitalised and able to support its current operations and future growth, rejecting claims by petitioners that the institution faces financial collapse. The hospital made the submission in response to a petition by Busia Senator OkiyaContinue Reading
(NAIROBI, KENYA) – Kenya’s High Court has faulted the Insurance Regulatory Authority (IRA) for invalidating insurance policies held by customers of three insurers and placing them under statutory management without allowing affected policyholders to be heard. The court ruled that the Commissioner of Insurance acted outside the statutory parameters whenContinue Reading
(NAIROBI, KENYA) – A Kenyan court has dismissed an application by prominent filmmaker David Tosh Gitonga to settle a KES 1.1 million ($8,500 / GBP 6,300) debt in monthly installments of KES 10,000 ($77 / GBP 58), ordering him to pay KES 7,000 ($54 / GBP 40) in costs forContinue Reading
(NAIROBI, KENYA) – Banks and other financial institutions in Kenya now face fines of up to KES 20 million ($155,000/GBP 122,000) for breaking new terror financing rules as the country works to stop suspicious financial flows. New regulations from the Ministry of Interior and National Administration raise the maximum penaltyContinue Reading
(NAIROBI, KENYA) – A fraudulent investment scheme that froze millions of shillings of Kenyan investors’ cash in 2025 was run by the same person behind the recently collapsed Quant Vest Stock Exchange (QVSE), the Business Daily has established. The earlier scheme, known as PCEX, operated under the banner of GlobalContinue Reading
