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Software developer, Compulynx has completed installation of its latest cloud-based ERP (Enterprise Resource Planning) retail solution for its Dubai-based customer, One Vasco in 120 locations in 30 countries. Compulynx’s Next Generation Retail Suite(NEXX) will see One Vasco’s clients enjoy access to a cloud-based managed and maintained IT platform, thereby helpingContinue Reading

The National Treasury has factored a marginal 2.4 percent increase in total revenues for the next fiscal year in line with intentions to lower expenditure and pursue austerity. According to the Draft Budget Policy Statement (BPS), revenue is expected to increase by only Sh49.3 billion to hit Sh2.13 trillion asContinue Reading

Policy uncertainty has risen to become the top threat for businesses in Africa, according to chief executives interviewed for a new survey by advisory firm PricewaterhouseCoopers (PwC). The CEOs are also concerned about availability of key skills among their staff as well as overregulation by government agencies. “Policy uncertainty, aContinue Reading

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The Treasury has frozen loan guarantees and approvals for State corporations which have defaulted on repayment of debt and other statutory obligations, leaving many heavily-indebted public entities at the risk of collapse. Treasury secretary Ukur Yatani said State corporations in default of debt servicing and payments would be required toContinue Reading

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Safaricom’s  founding chief executive, Michael Joseph, has revealed that he sold off his entire shareholding in the company to fund the construction of his retirement home. Earlier regulatory filings showed that Mr Joseph — who currently serves at the interim CEO of Safaricom following the death of Bob Collymore last yearContinue Reading

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The Immigration department will start issuing passports on the same day of application starting July 1, 2020, officials have said. Interior Cabinet Secretary Fred Matiang’i said applicants of identity cards, birth and death certificates will also have their documents processed in a day. The new changes, however, apply only toContinue Reading

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Kenya risks liquidity problems due to the falling capacity of commercial banks to continue financing the large budget deficit with the removal of the rate cap also likely raising borrowing costs for the Treasury. Moody’s said in its 2020 outlook on Africa Treasuries that the borrowing cost will go upContinue Reading

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Commercial banks are on course to post another full-year of double-digit growth in profits, according to a review of their performance in the 10 months ended October 2019. Fresh data from the Central Bank of Kenya (CBK) shows that the banking sector’s pre-tax earnings for the 10 months stood atContinue Reading