Sanlam and Allianz Merger in Africa Takes Effect
In a move aimed at strengthening their presence on the African continent, Sanlam Limited and Allianz SE have announced the creation of the Sanlam Allianz Africa joint venture after receipt [...]
Climate Summit: Credit Rating Agencies ‘destroying African economies’ Leaders
Credit rating agencies and multilateral lending institutions came under fire over their business practices at the Africa Climate Summit (ACS). Sudanese-British billionaire businessman Mohammed Ibrahim and Kenya President William Ruto [...]Climate Summit: Leaders Call for Valuation of Africa’s Natural Resources
Africa is calling for fair treatment in the face of climate crisis affecting many livelihoods in the continent. On a global scale, the continent’s contribution to greenhouse gas emission is [...]Micro and Small Enterprises Experience High Loan Defaults Survey
Micro and Small Enterprises (MSEs) in Kenya experienced a myriad of challenges, pushing up the default loan rate from 42.8% to 60.7% in June 2023, a Survey conducted by the [...]
Britam Holdings HY 2023 Net Profit up 300% to KSh 1.6 billion
Britam Holdings Plc recorded a rise in half-year net profit to KSh 1.6 billion at the close of the six-month period ended 30th June 2023 from KSh 377.9 million in [...]Kenyan SACCOs Total Savings up 9.84% to KSh 620.45 billion in 2022 Report
Sacco Sector in Kenya accumulated total deposits or savings amounting to KSh 629.45 billion in 2022 compared to KSh 564.89 billion in 2021, an increase of 9.84%. These Sacco deposits [...]Options for Investors in ILAM Fahari I-Reit Conversion Plan
Non-professional investors in the ILAM Fahari I-Reit have three options following a conversion plan from unrestricted to a restricted I-Reit. The proposed conversion of ILAM Fahari I-REIT from an Unrestricted I-REIT into a restricted I-REIT and [...]Cost of Living Eases in August-KNBS Survey
Kenyans experienced an ease in the cost of leaving in the month of August from 7.3 per cent in July to 6.7 per cent last month, mainly attributed to drop [...]CBK Seeks KSh 35 Billion in September Treasury Bonds Tap Sale
The Central Bank of Kenya is back to the market seeking KSh 35 Billion in a re-opened 2-year and 10-year Treasury Bond tap sale this September. According to the CBK [...]Kenya Tightens Money Laundering, Terrorism Financing Rules
President William Ruto has signed the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2023 into law. The new law will help address deficiencies limiting the fight against [...]Samasource Says Focus on AI Jobs Not Linked to Court Cases
Sama, a Global data annotation solutions firm has delinked the ongoing court cases touching on its business to its move from content moderation to computer vision and training data for [...]Kenyan Blockchain Association Challenges Legality of New Digital Asset Tax
The Blockchain Association of Kenya has submitted a petition challenging the legality of the Digital Asset Tax (DAT), set to go into effect on September 1, 2023. The DAT, introduced [...]
