Frankline Sunday - The Standard

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NEWS & CURRENT AFFAIRS

Digital News

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Frankline Sunday

State House exceeds budget by Sh1 billion

Initially, the budget for State House for the 2023/2024 financial year was set at Sh6.3 billion. It was later revised to Sh8.5 billion in the first supplementary budget.

By Frankline Sunday 3 months ago

State House exceeds budget by Sh1 billion

CA pushes for Sh88.5b nation-wide broadband

CA pushes for Sh88.5b nation-wide broadband

By Frankline Sunday 3 months ago

Court hands Makini Schools reprieve in row with PTA chairman

Court hands Makini Schools reprieve in row with PTA chairman

By Frankline Sunday 4 months ago

How State regulation bit off Sh2.8b from Safaricom profits

How State regulation bit off Sh2.8b from Safaricom profits

By Frankline Sunday 4 months ago

How your Sh26 daily has lifted Safaricom's earnings to Sh329b

Telco's after-tax profits grew by 13.7 per cent to Sh84.7 billion recorded in the year ended March 2024.

By Frankline Sunday 4 months ago

How your Sh26 daily has lifted Safaricom's earnings to Sh329b

Court throws out Jogoo Road residents' suit to stop eviction

Residents of Jogoo Road Phase Two Estate have lost their bid to challenge an eviction order from the government that seeks to demolish the estate and build affordable housing units.

By Frankline Sunday 4 months ago

Court throws out Jogoo Road residents' suit to stop eviction

Counties sitting on Sh1b emergency fund amid raging floods

Data from the Office of the Controller of Budget (CoB) indicates that Kenyan counties cumulatively set aside Sh1.9 billion to their emergency funds in the 2023/2024 financial year.

By Frankline Sunday 4 months ago

Counties sitting on Sh1b emergency fund amid raging floods

Nairobi County's uphill task to net Sh20 billion in land rates

Nairobi City County is looking to collect at least Sh20 billion in new land rates in a move that could make it the first devolved unit to fund its entire budget from internal revenue collection.

By Frankline Sunday 5 months ago

Nairobi County's uphill task to net Sh20 billion in land rates

New World Bank report warns of widening inequality gap, poverty

The latest report from the World Bank indicates that poverty levels in the country remain high even as the economy continues to post strong growth in the gross domestic product (GDP).

By Frankline Sunday 5 months ago

New World Bank report warns of widening inequality gap, poverty

Telkom Kenya the biggest loser as telcos shed 800,000 users

Telkom saw a 36 per cent decline in subscribers from 2.1 million customers as of September last year to 1.34 million subscribers in December.

By Macharia Kamau and Frankline Sunday 6 months ago

Telkom Kenya the biggest loser as telcos shed 800,000 users

The two women keeping a tight leash on Kenya's purse holders

AG Gathungu and Controller of Budget Nyakang'o have recently rubbed the State the wrong way. Both are facing unprecedented threats to remove them from office.

By Frankline Sunday 6 months ago

The two women keeping a tight leash on Kenya's purse holders

Safaricom Ethiopia set to surpass Kenyan operations

Safaricom Ethiopia is on track to surpass its Kenyan lead office in the next few years, in what could soon shift the focus of East Africa's most profitable firm from Nairobi.

By Frankline Sunday 6 months ago

Safaricom Ethiopia set to surpass Kenyan operations

Ruto, Gachagua splash Sh785m on travel in six months amid austerity

The executive offices of the President, Deputy President and that of the Prime Cabinet Secretary spent Sh820 million cumulatively in travel in the six months ended December 2023.

By Frankline Sunday 6 months ago

Ruto, Gachagua splash Sh785m on travel in six months amid austerity

Financial irregularities cast a shadow on eCitizen

Platform has inadequate internal controls and risk management systems with high convenience fee charges and lack of adequate data protection safeguards.

By Frankline Sunday 7 months ago

Financial irregularities cast a shadow on eCitizen

Audit uncovers 687 excess staff at Treasury

The latest audit report indicates that 687 staff have been hired to positions created without authorisation or seconded to posts above the approved headcount.

By Frankline Sunday 7 months ago

Audit uncovers 687 excess staff at Treasury

Former Absa workers cry foul over shrinking pension returns

The former employees worked for Barclays Bank Kenya before it rebranded to Absa Bank in 2016. They claim the value of their pension has fallen by half in the last 13 years.

By Frankline Sunday 8 months ago

Former Absa workers cry foul over shrinking pension returns

Airtel battles CAK and vendors in multi-billion airtime suit

Airtel Kenya has moved to court seeking to block the Competition Authority of Kenya (CAK) from investigating and taking action against the telco over alleged abuse of buyer power.

By Frankline Sunday 8 months ago

Airtel battles CAK and vendors in multi-billion airtime suit

Crypto assets gather steam despite market jitters

According to the IMF, crypto assets can undermine tax revenue collection and compliance, with the decentralised nature of the medium making it hard to collect third-party information.

By Frankline Sunday 9 months ago

Crypto assets gather steam despite market jitters

How Sh6 billion Telkom deal was hatched in 6 days

Report lays bare the heights of impunity by high-ranking government officials that facilitated the irregular transaction and some of the beneficiaries of the Sh6 billion payout.

By Frankline Sunday 9 months ago

How Sh6 billion Telkom deal was hatched in 6 days

Safaricom net profit jumps to Sh34.2b on increased lending

The value of loans disbursed on Fuliza overdraft service rose 32 per cent for the half year to Sh419 billion from Sh315 billion last year.

By Frankline Sunday 10 months ago

Safaricom net profit jumps to Sh34.2b on increased lending

Chirchir warns fuel prices could hit Sh300

CS and World Bank attributed the increase to the ongoing Israel-Hamas war. But CBK weekly bulletin indicates global oil prices are declining due to the dissipating impact of the war.

By Brian Ngugi and Frankline Sunday 10 months ago

Chirchir warns fuel prices could hit Sh300

What classification of some minerals as strategic means

The government has declared Cobalt, Tantalum, Lithium, Coltan, Niobium, Copper and other rare earths as strategic minerals amidst an economic boom in the local and global mining sectors.

By Frankline Sunday 10 months ago

What classification of some minerals as strategic means

Chiloba latest casualty of 'cursed' CA executive seat

Last week, the board announced the resignation of Chiloba who was appointed in October 2021, making him the shortest-serving director general of the CA in over 20 years.

By Frankline Sunday 10 months ago

Chiloba latest casualty of 'cursed' CA executive seat

How taxpayers are losing out in State agencies' loans

'Project Mawingu' flopped due to embezzlement of the credit line, which was spent on dubious deals that sunk the national airline further into the red.

By Frankline Sunday 10 months ago

How taxpayers are losing out in State agencies' loans

Hard questions in Telkom Kenya sale

Prof Ndung'u said ICA will inject capital to fund Telkom Kenya's infrastructure and settle some of its outstanding liabilities estimated at over Sh140 billion.

By Frankline Sunday 11 months ago

Hard questions in Telkom Kenya sale

Flutterwave bets on Kenya with Sh7b war chest as it awaits CBK license

Payments service provider Flutterwave is set to officially launch operations in Kenya in the next few months, pending approval by the Central Bank of Kenya (CBK).

By Frankline Sunday 1 year ago

Flutterwave bets on Kenya with Sh7b war chest as it awaits CBK license

Startup woes expose disruption myth

Dealfish, Kalahari Kenya, Mocality, OLX, Cheki, Jumia and Masoko, among others, have all attempted a crack at the country's e-commerce sector, with varying degrees of success.

By Frankline Sunday 1 year ago

Startup woes expose disruption myth

Telkom Kenya debts threaten to derail strategic deal

Telkom Kenya defaulted on its Sh4 billion payment to ATC Kenya under their Master Lease Agreement for a tower sale and leaseback transaction struck in 2018.

By Frankline Sunday 1 year ago

Telkom Kenya debts threaten to derail strategic deal

End of an era as Michael Joseph resigns from Safaricom board

Considered by industry insiders as the 'father' of Safaricom, Joseph's exit will likely be felt across the sector.

By Frankline Sunday 1 year ago

End of an era as Michael Joseph resigns from Safaricom board

State unveils Sh80b digital spending plan for technology sector

ICT CS Owalo said the government is on course to digitise 7,000 government services, an extra 2,000 that had earlier been targeted by June this year.

By Frankline Sunday 1 year ago

State unveils Sh80b digital spending plan for technology sector

Alarm as hackers target state offices in brazen cyber attack

A hacking group calling itself Anonymous Sudan, claimed responsibility for the attack that saw the e-citizen platform taken down for several hours.

By Frankline Sunday 1 year ago

Alarm as hackers target state offices in brazen cyber attack

CAK approves Sh700m takeover of Nairobi Women's Hospital

CAK has approved the proposed acquisition of a controlling stake of Nairobi Women's Hospital by the founder Sam Thenya in a deal valued at more than Sh700 million shillings.

By Frankline Sunday 1 year ago

CAK approves Sh700m takeover of Nairobi Women's Hospital

Weakening shilling increases public debt by Sh680 billion

According to the Office of the Controller of Budget, the country's stock of US-denominated debt has led to exposure to currency fluctuation that significantly increases the stock of public debt.

By Frankline Sunday 1 year ago

Weakening shilling increases public debt by Sh680 billion

Ministry ordered to pay Telkom Kenya Sh15b for disputed land

The Ministry of Sports, Culture and Heritage owes Telkom Kenya Sh15 billion as compensation for acquiring a parcel of land in Ngong Road.

By Frankline Sunday 1 year ago

Ministry ordered to pay Telkom Kenya Sh15b for disputed land

Treasury's overdraft at CBK hits Sh79b as cash crunch bites

Treasury resorted to the facility in April when salaries of State officers delayed amid a debilitating cash crisis. It now means the government has used up 90pc of its limit allowed under the law.

By Frankline Sunday 1 year ago

Treasury's overdraft at CBK hits Sh79b as cash crunch bites

Credit Bank eyes regional expansion after capital boost from private equity fund

Kenyan small lender Credit Bank is looking to expand to other countries in the region after signing a multi-billion-shilling deal with private equity investor Equator Capital Partners.

By Frankline Sunday 1 year ago

Credit Bank eyes regional expansion after capital boost from private equity fund

SRC review puts Kenya on collision course with IMF, lending partners

In 2021 the IMF approved a Sh234 billion facility to support the government's spending plan. World Bank says public sector employment has risen by 15 per cent.

By Frankline Sunday 1 year ago

SRC review puts Kenya on collision course with IMF, lending partners

Standard Group bets on tech, partnerships to boost revenues

Standard Group's shareholders on Friday gave their nod to the leadership and a five-pronged strategy proposed to explore new revenue streams and reach more audiences across the region.

By Frankline Sunday 1 year ago

Standard Group bets on tech, partnerships to boost revenues

Finance Bill: Kenyans make their voice heard

Parliament's Departmental Committee on Finance and National Planning, indicating that more than 1000 submissions were presented to law makers during the public participation window.

By Frankline Sunday 1 year ago

Finance Bill: Kenyans make their voice heard

Dead Kenyans leave behind Sh29b shares in listed firms

Safaricom, KCB, EABL and Co-op Bank account for 75 per cent of the value of unclaimed shares. The UFAA is mandated to invest the money in the Fund in Treasury Bills.

By Frankline Sunday 1 year ago

Dead Kenyans leave behind Sh29b shares in listed firms

Shaky crypto: CBK shelves search for digital currency

According to the CBK, the allure of CBDCs globally is fading, and other central banks that were first to roll out digital currencies have faced challenges that have hampered implementation.

By Frankline Sunday 1 year ago

Shaky crypto: CBK shelves search for digital currency

Fact check: Advance tax to be paid for commercial vehicles

The advance tax is exempted to tractors or trailers used for agricultural purposes. Private cars are not included in new rate unless being used for business.

By Frankline Sunday 1 year ago

Fact check: Advance tax to be paid for commercial vehicles

Hacking claims put Kenya at the centre of US-China cold war

A report earlier this week claimed that a Chinese-sponsored hacking group infiltrated and spied on Kenyan government systems, including the NIS and the Office of the President.

By Frankline Sunday 1 year ago

Hacking claims put Kenya at the centre of US-China cold war

'How China hacked NIS, the presidency'

Hackers targeted NIS, Office of the Presidency, National Treasury and Ministry of Foreign affairs for years in a bid to spy on the country's debt policy.

By Frankline Sunday and Agencies 1 year ago

'How China hacked NIS, the presidency'

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