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Finance

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.

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.

Remittances from Kenyans abroad increased in November to Sh9.7 billion

By TF News Reporter

Remittances from Kenyans living abroad amounted to $113.4 million (Sh9.7 billion) in November 2013, says the Central Bank of Kenya (CBK).CBK governor Prof Njuguna Ndung'u says inflows have increased CBK governor Prof Njuguna Ndung'u says inflows have increased

CBK says this was 0.4 per cent higher than the inflows recorded in October 2013 which amounted to $112.9 million, and 16.3 per cent above $97.5 million recorded in November 2012.

Remittances by Kenyans living abroad increase to Sh9.6 billion

By TFN Reporter

Remittance inflows amounted to US$ 112.9 million (Sh9.6 billion) in October 2013, says the Central Bank of Kenya (CBK). CBK says inflows are strong despite sluggish global economy CBK says inflows are strong despite sluggish global economy

This was 5.1 per cent higher than the inflows recorded in September 2013 which amounted to USD 107.5 million, and 23.2 percent higher than the US$ 91.6 million inflows recorded in October 2012.

Inflation remains above five per cent government target due to revised VAT Act

By TF News Reporter

 

Inflation eased last month after rising gradually since July 2013 on the back of a base effect and implementation of VAT 2013 effective September.Inflation is likely to increase as drought spreadsInflation is likely to increase as drought spreads

 

 

The Central Bank of Kenya (CBK) says in its weekly bulletin that overall 12-month inflation eased from 8.29 per cent in September 2013 to 7.76 per cent in October 2013 and non-food non-fuel inflation from 5.02 per cent to 4.94 per cent.

Over 70 per cent of Kenyans now have access to financial services, says new survey

By TF News Reporter

The number of Kenyans with no access to financial services have declined from 31.4 to 25.4 per cent in the last four years, says a new FinAccess survey released Thursday.

CBK governor Prof Njuguna Ndung'u says more people have access to financial servicesCBK governor Prof Njuguna Ndung'u says more people have access to financial services

 

The survey says in 2013, 32.7 per cent of the adult population accessed financial services from the formal, prudentially regulated financial institutions though mobile money services offered by all the four mobile telephone operators emerged the most preferred service.

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