Fuel Use Rises 2%, Kerosene Demand Dwindles
The consumption of fuel and other petroleum products grew 2% in 2024, an increase attributed to the growth in demand of AVGAS, Jet A1, Fuel Oils and Lubricants, according to Petroleum Institute [...]
Lipa Later Shuts Down
Lipa Later, a fintech that offers consumer credit and e-commerce solutions for merchants, has been placed under administration two years after it acquired struggling e-commerce platform Sky.Garden for US$1.6 million. This capital [...]NCBA Posts Marginal Profit Growth, Loan Loss Provisions Down 40%
NCBA Group closed 2024 with a net profit of KSh 21.9 billion, a 1.9% increase from 2023 on the back of a reduction in loan loss provisions and a significant [...]KQ Soars to Profit as Foreign Exchange Gains Boost Earnings
Listed carrier Kenya Airways (KQ) has posted a net profit of KSh 5.4 billion for 2024, up from a KSh 22.68 billion loss in 2023, breaking a decade-long spell of [...]Central Bank to Propose New Loan Pricing Model in April
The Central Bank of Kenya (CBK) is working on a new loan pricing model for loans and is considering submitting it to public participation, CBK Governor Dr. Kamau Thugge said [...]
DTB Group Posts KSh 7.6bn in Net Profits
Diamond Trust Bank (DTB) Group has reported a 25% bump in profit before tax to KSh 11.27 billion, up from KSh 9 billion in 2023, despite a challenging economic environment [...]Fintech Customers Now Take Cyber Security Seriously, But Threats Remain
As cyber threats and cyber security tools evolve, 97% of consumers in Central and Eastern Europe, the Middle East, and Africa (CEMEA) now take steps to secure their online transactions, [...]KCB Group Acquires Majority Stake in Fintech Firm, Riverbank
KCB Group has ramped up its plan to consolidate agent banking channels into one platform with the planned acquisition of Riverbank Solutions, a fintech, for an undisclosed sum. “Across the region, [...]Courts Block Nairobi Hospital Probe, Lift Expenditure Suspension
The High Court has temporarily halted an investigation into Nairobi Hospital, in the latest legal development in the healthcare provider's long running boardroom conflicts. In the petition on the ongoing [...]Kakuzi to Double Down on New Markets after KSh 167 Million Loss, Disruptions
Listed Agricultural company, Kakuzi PLC, has reported a pre-tax loss of KSh 167 million for 2024, driven by adverse weather conditions, foreign currency fluctuations, and geopolitical instability in the Middle [...]Kenya Seeks New IMF Loan Amid Fiscal Strain, Denies Rift with Lender
Kenya has applied for a fresh loan program from the International Monetary Fund (IMF), aiming to roll over about US$800 million left unused from its existing arrangement, according to Treasury [...]$100Mn Gold Scandal Haunts Ex-Chief Registrar as IEBC Interviews Kick-Off
The process of setting up a new Independent Electoral and Boundaries (IEBC) team has begun this week with four applicants to the chairman’s position grilled on their suitability to steer [...]
