Data Regulator Orders WPP Scangroup to Pay Former CEO KSh 1.95mn
The Office of the Data Protection Commissioner (ODPC) has ordered listed marketing and communications conglomerate WPP Scangroup to pay former CEO Bharat Thakrar Ksh 1.95 mn, in the latest in [...]
Kenya Power KenGen Stocks Soar After Record Profits, Dividends
Kenya Power and Kengen have seen their price gain 49.7% and 31.1% respectively in a single day, hours after delivering stronger than expected results for the year ended June 2024. [...]
KenGen’s Profits Surge 35.5% to KES 6.8 Billion
Kenya Electricity Generating Company (KenGen) has posted strong full-year results for the financial year ending June 30, 2024, with after-tax profits rising by 35.5% to KES 6.8 billion. KenGen’s gross [...]
China's Hexing Group to Invest KSh 1.29bn in Nairobi Assembly
Hexing Group, a Chinese manufacturer of power products, will investUS$10 million (KSh 1.29 billion) to establish a Nairobi-based assembly line for imported power products. “Hexing is excited to expand our [...]Retail Outlets Record Higher Sales Despite Economic Climate-ILAM Consumer Index
Most businesses in key towns reported increase in sales in third quarter of the year with retail stores and leisure outlets leading the pack, according to the ILAM Consumer Spending [...]Kenya Power's Profits Soar Tenfold as Electricity Sales Rise by 21%
The strength of the Kenyan shilling for the most part of the year significantly reduced Kenya Power Lighting Company's (KPLC) finance costs, enabling the utility company to record a [...]Diaspora Inflows Dip by 2% in September
Money sent home by Kenyans living and working in the diaspora dropped by 2% in September compared to August partly owing to a slowdown in major economies. “The remittance inflows [...]Airtel Revenues Grow by 7.5% in East Africa Amid Currency Devaluations
The strength of the Kenyan shilling over the year has positively impacted Airtel Africa's growth rates and revenue in the East African market, coupled by a rising customer base in [...]Kenya’s Devices Assembly Plant Sells 360k Devices in First Year
The East Africa Device Assembly Kenya (EADAK) sold 360,000 devices since its launch in October last year, according to disclosures in the GSMA 2024 Kenya Digital Economy Report. “This assembly [...]Uganda-Tanzania Oil Pipeline Faces Funding Hitches
Climate activists opposed to the East African Crude Oil Pipeline (EACOP) have pressured six western banks to cease their funding pledges to the project, complicating its development. Now equity is [...]HF Group to Raise KShs 6bn in Rights Issue after CMA Nod
HF Group is seeking to raise up to KSh6 billion through a rights issue after approval by the Capital Markets Authority (CMA). The group is raising capital as part of [...]Kenya's Economic Growth to Slow Down to 5.0% in 2024, 2025- IMF
Kenya's economic growth, as measured by Real GDP growth, will slow down from 5.6% in 2023 to 5.0% in 2024 and 2025 respectively, the International Monetary Fund has predicted in [...]
