Kenyan Shilling Strengthens, Stocks Edge Higher on Foreign Inflows
Last week, the Kenyan Shilling strengthened further against the US Dollar, closing the week at KSh 129.14 from KSh129.54 the previous week. Similarly, the year-to-date performance rose to 13.1%, buoyed [...]
Kenya Re-Insurance Half year Profits Drop By 10%
Kenya Re-Insurance Corporation Limited has posted a 10 percent drop in profits after tax to KSh 1.06 billion in the first half of 2024 from KSh 1.17 billion a year [...]Sameer Africa Posts Over 300% Rise in Half-Year Profits
Listed tyres' distributor, Sameer Africa, has recorded a profit-after-tax of KSh 108.8 million in the half year ended June 2024, a triple rise from the preceding period due to the [...]Insurance Regulator Places Invesco Under Statutory Management Again
The Insurance Regulatory Authority (IRA) has placed Invesco Assurance under statutory management for the second time in the insurer's 27-year history. “Insurance Regulatory Authority (IRA) has with effect from 14th [...]Food Processor Gaea Foods Becomes First Beneficiary of €20mn Pepea Fund
Gaea Foods, a Kenyan potato-processing company, has received an undisclosed amount in financing from Pepea Fund in the form of venture debt to support small businesses to grow and broaden [...]Co-Op Bank's Half Year Profits Up 7%, South Sudan Subsidiary Registers Losses
Co-operative Bank of Kenya's (Co-op Bank) net profit for the half-year has jumped to KShs. 13 billion compared to KShs. 12.1 billion during a similar period in 2023. Apart from [...]CBK’s Infrastructure Bonds Gauge Investor Confidence
During August auction, government reopened two infrastructure bonds earmarked for financing infrastructure projects in the current fiscal cycle. Investors have continuously exhibited preference for short term papers, compelling the exchequer [...]Equity Bank Loses KShs. 1.5bn in Latest Insider Heist
The Banking Fraud Unit is investigating a case where Kenya's second largest lender, Equity Bank, lost KSh 1.5 billion last month to an insider and his father. According to the [...]Developers Cash-in on Supermarkets Expanding to Estates
Developers are modernizing establishments to cash in on giant retail stores preferring to move closer to consumers within estates, real estate consultancy firm has said in its half-year report, with [...]CEOs Delay Planned Expansion Over Political Uncertainty CBK Survey
Majority of businesses have put on hold planned expansion of activities due to the uncertainties from recent protests in the country, an outlook of business activity for third quarter 2024 [...]Abuja, Lagos Among Most Affordable Cities for Expatriates
Nigeria’s Abuja and Lagos are most affordable cities to live in for international assignees, thanks to currency depreciation. In February, IMF in its 2024 Post–Financing Assessment and Staff Report disclosed [...]Global Investment Research Firm MSCI Upgrades Co-op Bank, Four Others, to Frontier Markets Indices
The Morgan Stanley Capital International (MSCI), the premier global investment research firm, has promoted Co-operative Bank of Kenya (CO-OP) to the MSCI Frontier market Index (FM), and four other stocks [...]
