Indian Businessman Gautam Adani Faces US$250mn Bribery Charges in the US
Gautam Adani’s name is in the global newsreels for the wrong reasons again; this time, New York prosecutors are pursuing him for allegedly bribing Indian government officials with US$250 million [...]
Stanbic Reports Ksh 10.1bn Profit After Tax in Q3
Stanbic Bank has announced a Ksh 10.1 billion profit after tax for the nine-month period ended September 30, 2024. Operating costs decreased by 5% on harnessing previous investments aimed at [...]Kenyan Banks Feted for Sustainable Finance Initiatives
26 banks have been recognized for their excellence in adopting sustainable finance practices with Cooperative, KCB and ABSA bank emerging as the overall winners in number 1,2 and 3 respectively. [...]Abdirahman Irro Wins Somaliland Elections, defeats incumbent president
Wadani Party Candidate, Abdirahman Irro, has defeated his opponent from the Kulmiye Party, Muse Bihi, in the just concluded Somaliland Elections. Somaliland has a population of about six million people. [...]SGR Passenger Traffic Drops by 9% in 9 months
The 50% fare hike on the Madaraka Express, Standard Gauge Railway (SGR) that took effect in January continued to depress passenger numbers by 8.8% in the 9 months to September. [...]Cabinet Secretaries Under Pressure to Meet Fresh Performance Targets
Cabinet Secretaries, Principal Secretaries, and other public servants signed new performance contracts at State House on Tuesday, in an event convened by President William Ruto. “I look forward to working [...]Treasury CS Mbadi Moves to Contain Pension Crisis
The National Treasury is seeking to rescue pension funds choking from non-remittance of workers contributions which stood at a staggering Kshs 36,284,729,685 by March 2023. “The object of the appointment [...]Absa Kenya Profits Up 20% KSh 14.8Bn in Q3
Absa Group has posted a 19.8% increase in net profit to KSh 14.8 billion in the 9 months to September from KSh 12.3 billion recorded in the same period in [...]Crypto Surges as Gold Edges Downwards after Trump’s Win
Bitcoin has surged over 30% since President Trump's victory with Gold falling about 5% as dynamics continue shifting towards digital assets. Gold has been slightly abated, currently on a downward [...]Kenya's Poverty Rate Edges to 40% KNBS
About 33.2% of urban dwellers in Kenya consumed less than KSh 8,000 per month, while 42.9% of Kenyans living in rural areas spent less than KSh 4,300 per month, comprised [...]Co-operative Bank Profits Increase by 4.4% to KSh 19.2 bn
The Co-operative Bank posted KSh 19.21 billion in the 9 months to September, a 4.4% uptick from KSh 18.4 billion recorded in the same period a year earlier. Total assets [...]Bancassurance Faces Headwinds as Claims Surge by 140%-AKI
Kenya’s bancassurance sector is facing profitability pressure from claims which have surged from Ksh6.6 billion in 2019 to Ksh14 billion last year. “This trend raises concerns about underwriting practices and [...]
