Kenya loses Sh72b seasonally from food loss and waste, says report

By Anyango Atieno

An estimated Sh72 billion is lost every season by not addressing food loss and waste, the Food and Agriculture Organisation (FAO) Kenya has said.

Cytonn bleeds as key investors pull out funds

By Wainaina Wambu

A number of investors have withdrawn cash from Cytonn Investments.

This comes as the real estate firm battles a backlash following revelations that it was unable to pay back matured claims on some of the more than ten funds it pools public money from.

Banks faulted for wrongfully blacklisting customers at CRB

By Everlyne Kwamboka

NIC Bank Executive Director Alan Dodd (right) and Noel Mabuma, CEO CMC exchange signed a partnership agreement between the companies at CMC Group offices in Nairobi. NIC bank will be financing the acquisition of the CMC's FORD model. [Elvis Ogina.Standard]

Banks have been faulted for wrongfully blacklisting firms and individuals at the Credit Reference Bureau (CRB).

Tuskys shuts 2 branches, fires 200 workers as woes deepen

By Stephen Rutto

Retail chain Tuskys Supermarkets has fired over 200 workers and shut down two branches in Eldoret town as financial woes rocking the supermarket deepen.

The loan repayment holidays end starting today, says CBK Governor

By Dominic Omondi 

CBK Governor and chairman Monetary Policy Committee (MPC) Patrick Njoroge. [File, Standard]

The holiday of debt repayment that borrowers have been enjoying for the last six months will end today.

Pandemic spurs Africa's mobile telcos to ramp up banking bid

By Reuters 

When COVID-19 hit Ivory Coast, Bonaventure Kra, who works at an import-export business, began to worry. Handling hard cash all day was a risk. Queuing in crowded bank branches exposed him to infection.

Insurers get waiver on capital to fend off Covid hurdles

Treasury Secretary Ukur Yatani. FILE PHOTO | NMG

Summary

• Insurers have been exempted from complying with capital requirements for six months as they face increased claims and reduced collection of premiums in the coronavirus-battered economy.
• This means that insurers who fail to meet the capital thresholds will not risk losing their operating licence.
• The short-term waiver is meant to give the underwriters time to adjust to the difficult business environment, easing the pressure to raise more capital for those who were barely compliant.