Nation Media Group Sinks into KSh 205.7 Mn Loss
Kenya’s largest media house, Nation Media Group, has announced a loss of KSh 205.7 million in the full year 2023, from KSh 318.5 million profit in 2022. “As we embark [...]
Trader’s View: 2024, Year of Gold (XAUUSD) and Nasdaq100?
2024 has kicked off all-time highs for Gold (XAUUSD), Nasdaq100, Bitcoin and other cryptocurrencies. The different asset classes have previously experienced significant selling pressure, especially from November 2021 to December [...]
Pezesha, MarketForce CEOs Make Peace, End Liquidation Dispute
Digital financial marketplace Pezesha has dropped its liquidation suit against B2B marketplace Marketforce, after the founders of the two companies agreed to settle the dispute out of court. Pezesha CEO [...]
AfDB Sanctions Chinese Firm for Graft in Uganda
The African Development Bank Group (AfDB) has reached a negotiated settlement with China Henan International Cooperation Group over failure to disclose it used a commission agent for a road project [...]National Bank Urges Calm after News of its Sale by KCB Group
The National Bank of Kenya (NBK) has downplayed its likely sale by the KCB Group assuring its customers that all was well and business operation was usual. “We want to [...]
MSMEs Embrace KBA's Inuka Program Despite Persisting Challenges
More than 70,000 Micro Small and Medium-sized Enterprises (MSMEs) across Kenya accessed the Inuka financial literacy training by the end of January this year. MSMEs account for 34% of Kenya's [...]Kenya Bankers Association's CEO Habil Olaka to Retire in March
The Kenya Bankers Association has appointed Raimond Molenje as acting CEO after announcing the looming retirement of long-serving CEO Dr. Habil Olaka. During his tenure, Olaka led the introduction of [...]TDB, SMBC, Citibank, JICA Announce EUR 240mn Deal for Private Sector Growth
The Eastern and Southern African Trade and Development Bank Group (TDB Group), Japan International Cooperation Agency (JICA), Citibank, and SMBC Group (SMBC) have signed a EUR 240 million facility agreement [...]KenGen Posts Ksh 4.8 bn Profit Before Tax, Tax Expenses Rise by 26%
Kenya Electricity Generating Company PLC (KenGen) half-year net revenue rose 8.4 per cent to Ksh 24.7 billion for the half year to December 31, 2023. “The operational environment for the [...]Kenya Power’s Costs Increase by Ksh 7.6b, Records Ksh 319m profit
Kenya Power’s finance cost shot up by Ksh 7.6 billion mainly due to unrealized foreign exchange losses on loan revaluations as a result of the depreciation of Kenya Shilling against [...]Kenyans Under Extreme Financial Distress-Old Mutual Report
Kenyans in their majority are increasingly postponing decisions to take up insurance, save, or invest due to stagnated income streams, according to an inaugural financial services monitor report by Old [...]
Pan African Payment and Settlement System (PAPSS) Expands into North Africa
Afrieximbank's Pan African Payment and Settlement System (PAPSS) has expanded into North Africa after Banque Centrale de Tunisie (BCT) joined the regional payments platform as its thirteenth member. Banque Centrale [...]
