Summary Of The Business Daily Newspaper
Page 1: Reports show that 83.1% of digital loans below Sh1,000 in Kenya are on default, suggesting borrowers are exploiting a rule that prevents lenders from reporting small loan defaults to credit bureaus. The default rate improves to 69.4% for loans between Sh1,000 and Sh5,000, a trend that has pushed lenders to avoid issuing such small amounts.
Page 3: Reports that Africa Merchant Assurance (Amaco), linked to President Ruto’s family, has toppled Directive Assurance to become the market leader in Kenya’s PSV insurance sector with a 54.71% share.
Page 4: Reports indicate the lecturer-student ratio in Kenyan public universities has worsened from 1:41 to 1:44, as rising student enrolment outpaces the growth in faculty numbers.
Page 5: Reports that the Kenya Revenue Authority has seconded its Commissioner for Large and Medium Taxpayers, Rispah Simiyu, to the Treasury as part of efforts to strengthen institutional capacity.
Page 6: Reports that French oil firm Rubis’ revenues in Kenya grew two percent to Sh68.91 billion in the first half of the year, benefiting from increased local fuel demand.
Page 7: Reports that investment firm Centum spent Sh233 million to increase its stake in a power generating company to 85%, giving it control and facilitating the search for a new strategic partner.
Page 10: Reports that an insurance industry journal questions if insurers themselves are to blame for low market penetration and explores the sector’s potential impact on Kenya’s economy.
Page 14: Reports that the Kenyan government will predominantly reopen older bonds with fixed interest rates to control borrowing costs, targeting Sh40-60 billion monthly.
Page 24: Reports that the future of Africa’s FMCG sector is increasingly dependent on collaborative partnerships to navigate a complex environment of resource constraints and shifting demands.