Today’s Top Highlights:
📉 🏦 Equity Bank Seizes EA Cables & TransCentury — Sh14B Wiped Out
Big names like Kuramo Capital, Eddy Njoroge & Peter Kanyago suffer massive losses as Equity Bank swoops in on Sh4.7B loan defaults. Shares suspended. Retail investors trapped. What’s next after this high-profile financial collapse?
✈️ 💰 KQ Delays Sh142Bn Debt Repayment — Strategic Investor Missing
Kenya Airways signals it won’t service loans to banks, the State, or foreign lenders until a new equity investor injects cash. With Sh142.7 billion at stake, we unpack what this means for national debt — and the skies.
🧾 🔥 Ruto’s Budget Cut Promise Implodes — Sh176B Spent Instead
Despite his austerity pledge, the government’s recurrent budget has grown by Sh176 billion through multiple supplementary budgets. A spending spree in disguise? We break down the political and economic fallout.
🏚️ ⚖️ NBK Fined Sh711M Over Illegal Land Sale in Botched Sugar Deal
In a landmark ruling, the High Court orders National Bank of Kenya to pay Sh711 million for selling land it had no business touching. A win for borrowers — or just the beginning of more exposés?
⛽ 💸 National Oil Gets Sh3.38Bn Bailout — Again
The Petroleum Development Levy is tapped to rescue National Oil Corporation — repaying KCB and settling old fuel supplier debts. Is this good fiscal management or another example of selective bailouts?
💵 📊 Treasury Opens Sh50Bn Bond Sale to Start New Year Borrowing
CBK reopens 20- and 25-year papers with attractive coupons of 13.2% and 13.4% — but will it be enough to plug the Sh923B fiscal hole? Full bond breakdown inside.
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📌 Courtesy: Business Daily Africa