BOC Kenya Plc Net Earnings Ups 33.9% to KSh 198.1m
BOC Kenya Plc recorded a net profit of KSh 198.1 million for the year ended 31st December 2023 compared to net earnings of KSh 147.9 million in 2022, an increase [...]
Liberty Kenya Holdings Plc Posts Net Profit of KSh 671.9 Million
Liberty Kenya Group recorded net earnings of KSh 671.9 Million for the financial year ended 31st December 2023 compared to KSh 267.7 Million over the same period in 2022. Liberty [...]Ethiopia's Ministry of Foreign Affairs Refutes Reports of Joining EAC
Earlier this week, Kenya’s CS for the East African Community (EAC), Arid and Semi-Arid Lands Penina Malonza stated that Ethiopia will soon be joining the regional bloc a development [...]
Bank of Uganda Hikes Benchmark Rate to 10.25%
The Bank of Uganda’s Monetary Policy Committee (MPC) has raised the Central Bank Rate(CBR) to 10.25% at its April meeting. In a statement, the Bank of Uganda said while recent [...]Uganda’s Umeme Profit Drops to USh 11.5 Billion
Umeme, Uganda’s electricity distribution company has recorded a significant drop in its full-year financial result for the period ended 31 December 2023, driven by accelerated amortization of intangible assets. “As [...]
ATIDI to Underwrite a $7.7 Million Hydro Project in Burundi
The African Trade Insurance Agency (ATIDI) has given insurance cover to support the $7.7m Songa Energy’s 1.65 MW run-of-the-river hydro project on the Ruvyironza River in Burundi. “We have been [...]Kenya’s Volume of Trade Ups to KSh 336.2 Billion in Jan 2024
Kenya’s volume of trade rose from KSh 303.9 billion in December to KSh 336.2 billion in January 2024 according to the latest figures from the Kenya National Bureau of Statistics(KNBS). [...]East African Cables Sells Majority Stake in Tanzanian Unit
East African Cables PLC has sold a 51% stake in its Tanzanian subsidiary to Msufini (T) Limited as it embarks on a turnaround strategy. In mid-2023, EA Cables obtained a [...]Somalia Formalises Entry to EAC, Deposits Treaty of Accession
Somalia has deposited her instrument of ratification of the Treaty of Accession with the EAC Secretary General, making it the bloc’s 8th Partner State. The Secretary General will then deposit the [...]Visa Appoints Chad Pollock New General Manager for East Africa
Visa has appointed Chad Pollock as Cluster Country Manager and Vice President for East Africa. Chad is a seasoned leader with a diverse background across the finance, technology, and energy [...]Kenya to Resume Bulk Avocado Exports this March
Kenya will resume the export of avocado fruits in March this year after the Agricultural Food Authority (AFA) lifted its three-month suspension. Kenya exports its avocado fruits to the Netherlands, [...]Ethiopia Issues Licensing Directives for Capital Market Service Providers
Ethiopia has issued a legal directive that will govern the licensing of capital market service providers as the nation seeks to consolidate the securities and exchange sector. The directives came into [...]
