Banks offered bond swap as KQ misses Sh19bn loans deadline.
Top commercial banks will convert Sh19.3 billion ($149.9 million) worth of loans advanced to Kenya Airways (KQ) into Treasury bonds after the deadline for settling the debt lapsed.
State loans diverted to salaries, utilities nearly double to Sh416bn.
The government spent Sh415.7 billion or more than half of the cash it borrowed in the financial year ended June 2024 on recurrent expenses such as payment of salaries and utilities in breach of the law, highlighting the impact of missed tax collections amid spending pressure.
NSE investor wealth rebounds, increases by Sh237 billion.
Investor wealth on the Nairobi Securities Exchange (NSE) rose by Sh237.2 billion in the nine months to September 2024, reversing the losses seen a year earlier as foreign investors cut down on their exits from the market.
Britam eyes investors with fixed-income dollar fund.
