Kenya's Bitsoko Secures $100,000 Grant from the Bill Melinda Gates
Kenyan-based blockchain startup Bitsoko has secured a grant of $100,000 from the Bill and Melinda Gates Foundation through the Grand Challenges Explorations (GCE) initiative. The grant will enable the startup to [...]
SAP East Africa MD Gilbert Saggia Fired for Under-Performance
The managing director of SAP East Africa Dr Gilbert Saggia has stepped down effective immediately. A reliable source has told Kenyan Wall Street that Dr Saggia was shown the door [...]Imperial Bank's Receivership Period Extended by 70 Days
The Central Bank of Kenya (CBK) has received a 70-day extension period for Imperial Bank’s receivership. The extension period granted by the High Court will give CBK more time to [...]GDC to Begin Drilling Wells at the Baringo-Silali Geothermal Project
The Geothermal Development Company (GDC) in Kenya is set to begin drilling wells to look for steam power for the Baringo-Silali geothermal power project in Baringo County. GDC’s general manager [...]IMF visit to Kenya Enters Week Two Amid Govt's Move To Freeze New Projects
A mission of the International Monetary Fund (IMF) on Monday last week began a two-week visit to Kenya to conduct the third review of the country's economy. The mission is [...]
Seaboard to Pay Unga Group Shareholders Final Price of Sh40 Per Share
Global US-based Seaboard Corporation has said it will pay Unga Group shareholders who accepted its offer a cash offer price of Sh40 per share. This is an indication that the [...]PwC Fined Over $625 million in Damages Over Colonial BancGroup's Audit
Earlier this month, PricewaterhouseCoopers (PwC) LLP was fined to pay the Federal Deposit Insurance Corp (FDIC) over $625 million for negligence in Colonial BancGroup Inc’s audit, a bank holding company [...]Tunisia and Somalia Join COMESA
Tunisia and Somalia have been admitted to the Common Market for Eastern and Southern Africa (COMESA) bringing the total number of members to 21. The two countries received admission to [...]Kenya's Private Sector Activity Improved in June- Stanbic Index
Business conditions across the private sector improved in June according to survey data from the Stanbic Bank Purchasing Managers’ Index. The survey indicates that greater output requirements resulted in companies [...]Safaricom Unveils new network base station in Coast Fibre to home internet services
Safaricom Plc has launched two new base stations and expanded Fibre-To-Home connectivity in the Coast region as part of its broader strategy to expand its network infrastructure in the country. [...]Regulators Warn Kenyans Against Unlicensed Online Financial Services Providers
A joint statement has been issued by the Central Bank of Kenya (CBK), the Capital Markets Authority (CMA), the Insurance Regulatory Authority (IRA), Sacco Societies Regulatory Authority (SASRA) and Retirement [...]Construction of Thika Road Footbridges to End by December 2018
The ongoing construction of the four footbridges along Thika Highway will be complete by December 2018 according to KeNHA’s assistant director for communication Charles Njogu. Once the construction is complete, [...]
