BAT Kenya Net Profit Drops 18.8% to KSh5.6Bn As Taxes Bite
British American Tobacco (BAT) Plc, a listed tobacco manufacturer, has posted an 18.8% decline in its net profit for the full year 2023 to KSh 5.6 Billion from KSh 6.9 [...]
Kenya Plans US$ 500mn Japanese Bond
Kenya has entered into a memorandum of understanding with Japan that will see the East African nation issue a Samurai Bond. “The upgrade of transformers will reduce energy losses in [...]Kenya Floats Tender for Maturing US$ 2 Billion Eurobond
Kenya has announced a tender offer for its US$ 2 billion, 6.875% notes that are due to mature this June 2024. Receipt by Citibank NA London of all of the [...]Multichoice Rejects Canal Plus' Acquisition Offer
Multichoice board of directors has halted a buyout deal from Canal plus stating that the value of the South African company surpasses the initial offer. Canal Plus has built its [...]
Climate Investment Funds Endorse Kenya’s $70m Energy Plan
The Climate Investment Funds (CIF), through its Trust Fund Committee, has endorsed a $70 million plan, with an initial allocation of $46.39 million. It is expected to mobilize at least [...]Italy Eyes Africa Projects in $6 Billion Plan
The government of Italy unveiled a near US$6billion plan to support African development at a one-day Italy-Africa summit in Rome on Monday. The summit—which took place as Italy assumes the [...]Kenya Mulls Debt Swap Ahead of $2 Billion Eurobond Debt Deadline
Kenya's Government is said to be in talks with interested parties that will see Nairobi strike a deal that will allow it to channel funds into social projects. With the [...]IMF Approves US$684.7 million to Kenya
The International Monetary Fund (IMF) has approved immediate disbursement of US$684.7 million to the Kenyan government. “Kenya’s performance under the ECF/EFF arrangements have been mixed with adherence to quantitative targets [...]Kenya and EU Sign New Ambitious Trade Deal
Kenya and the European Union (EU) have signed an Economic Partnership Agreement (EPA) to boost bilateral trade in goods, increase investment flows, and contribute to sustainable economic growth. The EU [...]Flutterwave Secures 13 New U.S. Money Transmission Licenses
Flutterwave, a leading payments technology company in Africa, has announced it has successfully obtained money transfer licenses for 13 U.S. states. The company says this move aims to facilitate faster, [...]
India Exim Bank to Set Up in Kenya
India Exim Bank has been given the green light by the Government of Kenya to locate its East Africa representative office in Nairobi. Exim Bank has previously provided Kenya with [...]Dangote's $20B Oil Refinery Set to Launch Operations
Aliko Dangote's $20 billion oil refinery with a daily capacity of 650,000 barrels, is set to commence operations in December. Dangote, Africa's richest man, shared that the refinery, situated on [...]
