Jimmy Mbogoh
77 Articles
Gov’t to fund 2025/2026 financial year budget without IMF support
Kenya’s move to abandon the 9th review of the IMF program saw the country miss out on a Ksh.109.4 billion disbursement.Out of this, Ksh.13.9 billion was set to go towards balance of payment stabilization, while the rest was expected to be channeled towards budget supp...
Banks and CBK differ on base lending rate
According to CBK Governor Kamau Thugge, the aim of the initiative is to reform the risk-based pricing model to address persistent challenges in the credit market, including high lending rates and opaque pricing mechanisms, by creating a market‐driven framework for pricing credit risk....
Gov’t aims to transition from cash to accrual accounting by June 2027
The shift from cash to accrual accounting in government is set to happen in three phases, which are expected to conclude by June 2027.The transition could be an acid test for accounting officers in key government entities, forcing them to expose their liabilities.
Gov’t denies claims of single-sourcing affordable housing materials from Devki Group
Housing Secretary Athman Said defended the government against claims of single-sourcing for building materials in the affordable housing projects.He noted that procurement decisions were left to individual contractors to determine based on their needs.
Equity Group records 12% jump in net earnings to Ksh.48.8 billion
According to the lender, this reinforces their continued success on the back of the group’s diversified business model, prudent financial management, and investment in the region.
'We cannot balance our budget,' Treasury CS Mbadi admits
According to Treasury CS Mbadi, the time frame before the program comes to and end is not sufficient to complete the review.According to economic analysts, the conclusion of the IMF program now means that in the next financial year, the government will be forced to rely on the domestic debt to susta...
Gov’t embarks on liquidation of KUSCCO assets to recover misappropriated funds
Cooperatives Cabinet Secretary (CS) Wycliffe Oparanya says the Cabinet has approved the appointment of a committee of experts to review the SACCO's Societies Act.
From ‘stupid idea’ to a financial revolution: Michael Joseph reveals how M-Pesa almost didn’t happen
According to Joseph, when presented with the idea for the mobile money service, Vodafone shareholders were skeptical, calling it a waste of time and money.Speaking at an event to mark M-Pesa’s 18th anniversary, the former Safaricom CEO went on to note that he however had other ideas, and was he...
More pain for hustlers as KRA tightens noose on small businesses to boost revenue
According to the Acting Commissioner of the newly formed KRA Department of Micro & Small Taxpayers, George Obell, despite the high numbers that comprise the sector, its contribution in tax revenue has remained negligible.
Major SACCOS to lose billions of members deposts following illegal withdrawals at KUSCCO
Depositors will also face significant losses depending on their SACCO's exposure.