Kenya Banking Sector Balance Sheet Grows to KSh 7.7 Tn in 2023-CBK
The banking sector's aggregate balance sheet size increased by 4.2% to KSh 7.7 trillion in December 2023, from KSh 7.4 trillion in September 2023, according to findings of the latest [...]
East Africa Growth Holding Acquires 10.13% Share in IM Group
East Africa Growth Holding has secured Competition Authority of Kenya's (CAK) approval to acquire 10.13 per cent of the issued share capital of IM Group from one of the bank’s [...]
Kenya Woos Egyptian Investors with EU, US Trade Deals
Kenya is banking on its trade deal with the European Union and its central location in East Africa to woo Egyptian investors to the country, government officials said during the [...]Bureau Veritas Takes Over Yana Oil Lab in Nairobi
Bureau Veritas has taken over the operation and management of Yana Oil Limited lubricating oil blending plant in Nairobi, effective from March 1, 2024. Yana Oil, established in 2020, manufactures [...]
KRA Launches New eTims Lite for Informal, Small Biz Sector
Kenya Revenue Authority (KRA) has said that all persons carrying on business such as those in the Informal Sector and Small Businesses will be required to electronically generate and transmit [...]CBK Issues Permits to 19 More Digital Lenders
CBK (Central Bank of Kenya) has licensed an additional 19 Digital Credit Providers (DCPs). This move comes as Kenyans grapple with a high cost of credit from banks and other [...]Private Sector Absorbs More Casual Workers as Business Improves in February
A surge in new orders in the month of February resulted in more absorption of casual workers in Kenya’s private sector to meet the workloads. “There was a notable expansion [...]Stanbic Holdings Full-Year Profit Grows to KES12.2 Billion
Stanbic Holdings has recorded a KES 12.2 billion profit after tax for the financial year ended December 31, 2023, attributable to improved net interest margins, balance sheet growth, and strong [...]Unga Group Posts KShs 341.6mn Net Loss
Unga Group Plc, the only listed miller at the Nairobi Securities Exchange(NSE) sunk deeper into loss territory, with a net loss of KSh 341.6 Million for the half year ended [...]Mobile Banking Wins against Other Channels in Access to Banking Services-KBA
Mobile banking has edged out other channels in access to banking services, with banks recording fewer customers physically seeking services. “Due to higher digital adoption, customers are visiting branches less [...]DRC Plans to Unlock 5bn Barrels of Oil With Exploration and Export Deals
The Democratic Republic of Congo (DRC) is looking to unlock its billions of estimated oil reserves by signing deals with oil companies and its neighbors to boost exploration, production and [...]CEOs Reluctant to Change Business Models Despite Economic Challenges: PwC
East African CEOs believe their current business models will weather economic turbulence to remain viable for the next decade, according to the PwC East African CEOs survey. The CEOs indicated [...]
