Cabinet Approves Sale of Development Bank of Kenya, 5 Others
The cabinet has approved the sale of Development Bank of Kenya (DBK) and five other non-strategic commercial state-owned enterprises. DBK commenced financing operations in 1964 and for a period of [...]
CIB Egypt Posts EGP 29.6bn Net Profit in 2023
Commercial International Bank Egypt (CIB) S.A.E recorded a profit of 29.7 Billion Egyptian Pounds (~USD 958mn) in 2023, compared to 16.1 Billion Egyptian pounds at the end of 2022, up [...]
EPRA Cuts Feb-Mar Fuel Prices by KSh 1 per Litre
EPRA (Energy and Petroleum Regulatory Authority) has reduced the price of petrol, diesel and kerosene by KSh 1.00 per litre, reflecting a drop in the price of world crude oil [...]Showmax 2.0 Gets Negative Market Reception
Showmax customers have complained about technical issues and difficulties in navigating the new platform, although the streaming company says it anticipated some teething glitches. I am so annoyed by this [...]CBK floats KSh 70 billion, 8.5yr Infrastructure Bond
The Central Bank of Kenya (CBK) has floated a KSh 70 billion, 8.5-year amortized infrastructure bond earmarked for funding budgeted infrastructure projects in the 2023/24 financial year. The weighted average [...]Government Makes New Appointments to KRC, KETRACO, Others
The government of Kenya has picked Abdi Bare Duale as the chairperson of its Board of Directors of Kenya Railways Corporation for three years, with effect from the 9th of [...]Nairobi Landlords Prefer Rent Payment in US Dollars-Survey
Tenants in prime office properties and the occupants of retail outlets in mall areas should expect to continue paying their rent in dollars, as landlords hedge against exchange rate risks. [...]Roam Raises $24mn in Series A Funding
Kenyan-based electric mobility startup Roam has raised $24mn in equity and debt in its Series A funding, the company announced on Wednesday. This funding is a critical step for Roam [...]
Uchumi Supermarket Creditors to Meet in Feb
Uchumi Supermarket Plc will hold a creditors and members meeting virtually on Thursday 29th February 2024. The agenda for the 29th Feb meeting will be a presentation on the status [...]Kenya Issues New Eurobond, Reduces $2b Debt Default Chances
The government has reduced its chances of defaulting payment on $2 billion debt due mid this year after successfully issuing $1.5billion new Eurobond. For instance, Benin issued a 14-year instrument [...]Owners of Prime Apartments Reap from Weak Shilling
Owners of property in prime residential rental market are reaping from a weak shilling, while lack of stock of such properties is also working in favour of the owners as [...]African Airlines' Revenue to Surge in 2024-AFRAA
African airlines will carry around 98 million passengers in 2024, according to latest estimates by the African Airlines Association (AFRAA). At some major African airports (Johannesburg, Nairobi, Addis Ababa, Lusaka, [...]
