Bank shares drop Sh31bn as investors sell off stock

Owners of bank shares have lost Sh31 billion over the past month as investors take profits from the rally that followed the removal of the cap on commercial lending rates. All the 10 banks have reported declines in share prices between January 20 and Thursday on what stock dealers linked to increased supply of the lenders’ stocks amid this demand ahead of the results announcement season, hurting investors. Banking stocks together with the Safaricom shares account for about 75 percent of the market value of the Nairobi Securities Exchange  (NSE), and the lenders’ share fall has affected the bourse. But the

Lawyer mints money from apartments he doesn’t own

After graduating from the University of Nairobi with a law degree last year, Fredrick Obuya didn’t look for a job to ply his trade in the courtroom. Rather he veered from his career professional path and plunged into hospitality business through online platform, Airbnb. Eight months down the line, he has little regrets as he is making admirable progress in this line of business. Mr Obuya markets apartments to visitors who want a more home-away-from-home experience at an affordable cost. He started off with a friend’s four-bedroom house at Sunset Lane in Nyali. He furnished it with all the frills

Money outside banks increases by Sh34 billion

The value of currency circulating outside banks rose by Sh33.9 billion in two months to November, touching a five-month high after the end of Central Bank of Kenya (CBK) demonetisation process in September. Fresh data from CBK shows currency outside banks rose from Sh157.7 billion in September to Sh191.6 billion in November. The circulation was at Sh222 billion in May before dropping to Sh196.9 billion in June when the four-month exercise of mopping up the old Sh1,000 notes started. A CBK Gazette notice on May 31, 2019 said the older Sh1,000 bank notes were withdrawn from circulation and would cease

Take to These most useful Loan Apps to have an Instant loan in India

Take to These most useful Loan Apps to have an Instant loan in India 1. MoneyTap MoneyTap is India’s first credit line that is app-based. The best benefit is its no-usage-no-interest feature, which includes made using credit less expensive. Compliment of this particular feature, you simply spend interest from the amount used. It is a personal bank loan application that provides a personal credit line to clients, which works as an immediate loan or credit cards. MoneyTap is really a money company that is lending versatile interest levels, currently servicing consumers in Delhi NCR, Mumbai, Bangalore, Hyderabad, and Chennai as

Compulynx’s new retail software to cut clients’ costs

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 helping them defray costs usually spent on data security as well as maintenance of own servers. The new deployment marks a shift in Compulynx’s operations where it is replacing the CORE Retail Solution that ran on the older client server technology deployed in 400 retail outlets across the globe by One