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Central bank working to create safe havens for saving, says Prof Ndung’u

By Prof Njuguna Ndung’u

During the launch of the Third National FinAccess 2013 Survey, the government recognised the important role played by the financial system in the economy.CBK policies must create safe environment for saversCBK policies must create safe environment for savers

Our vision 2030 envisages the financial sector being transformed into an innovative, vibrant and globally competitive sector to drive high levels of savings to finance the country`s investment needs.

Mobile money is now the most used financial service in Kenya, says report

By TF News Reporter

Mobile money remains is the leading mode of financial services commanding 75.6 of all points of service provided by financial institutions.CBK governor Prof Njuguna Ndung'u says 25 per cent of Kenyans have no access to financial servicesCBK governor Prof Njuguna Ndung'u says 25 per cent of Kenyans have no access to financial services

Though relatively new in the market, mobile money is far ahead of the traditional banking that commands a mere two per cent of the points. The newly introduced bank agents have increased significantly to command 12.3 per cent.

Safaricom CEO to join global chief heads in Africa CEO forum in Geneva

By TF News Reporter

Safaricom’s CEO Bob Collymore will be among the over 700 African and international CEOs, financiers and business leaders that will attend the second AFRICA CEO forum in Geneva next week.Safaricom CEO Bob Collymore to attend ceo forum in Geneva next weekSafaricom CEO Bob Collymore to attend ceo forum in Geneva next week

The forum aims to deepen economic integration and development at a time when there is heightened scramble for the continent’s unexploited economic potential.

P&G to abolish phosphates in laundry products in two years

By TF News Reporter

Procter & Gamble announced Monday that it will eliminate phosphates from all of its laundry detergents within 24 months. The move is expected to make P&G products more competitiveThe move is expected to make P&G products more competitive

This change will apply to brands including Ariel, Tide, Ace and Bonux, providing consumers with superior cleaning performance whilst maximizing the conservation of precious resources.

Quality accounting and auditing supports economic growth, says World Bank official

By Patricia Mc Kenzie

This grant to strengthen the Institute of Certified Public accountants of Kenya (ICPAK) is part of our commitment to supporting the accountancy profession in both public and private sector. Nairobi County government looses billions of shillings in revenue due to weak financial systemsNairobi County government looses billions of shillings in revenue due to weak financial systems

I cannot emphasize enough the importance of high quality accounting and auditing in ensuring financial transparency and accountability with attendant effect on improving governance and supporting economic growth and poverty alleviation.

World Bank expresses concern over poor financial and auditing in government

By TF News Reporter

The World Bank now want the government to seek services of private auditors to look at its financial books as it work to strengthen the financial and auditing systems.President Uhuru Kenyatta want government audited to get rid of ghost workersPresident Uhuru Kenyatta want government audited to get rid of ghost workers

The bank country director Diarietou Gaye asked the National Treasury to work with the Institute of Certified Public Accountants of Kenya (ICPAK) to improve the accounting standards.

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