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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 billionContinue Reading

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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

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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

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Stanbic Bank Kenya has lost Sh1.4 billion after the Geothermal drilling deal between a Chinese firm and the State- owned Geothermal Development Company collapsed. The State agency on Thursday announced recovering the amounts paid to the Chinese Hong Kong Offshore Oil Services (HOOSL) to drill a well back in 2014Continue Reading