Equity Group Commits to Zero-Lending for Coal Projects in Finalised IFC Deal
The International Finance Corporation (IFC) and the IFC Financial Institutions Growth Fund has acquired a 6.71% stake in Equity Group, becoming the second-largest shareholder after Arise BV of Norway and Netherlands. The [...]
Dollar Shortage In the Country Hits Oil Marketers
The dollar shortage in the country has started affecting the operations of oil marketers who ship in refined petroleum products — the country’s single largest import item by value. Rubis [...]
Mobile Subscriptions in Kenya Grow 6% in 2021
Mobile subscriptions in Kenya increased by 6.0 per cent to 65.1 million in 2021, however, at a slower rate compared to the 12.6 per cent growth registered in 2020. According [...]KPC Begins Upgrade of Changamwe Refineries Facilities
The Kenya Pipeline Company (KPC) has begun upgrading the facilities owned by Kenya Petroleum Refineries Limited (KPRL), seeking to boost its storage capacity. Upgrade of the refinery is aimed at [...]WPP Scangroup to Write Off KSh4.7 Billion Investment in Subsidiaries
Marketing services firm WPP Scangroup has announced plans to write off up to KSh4.7 billion investments in its subsidiaries. The firm has thus transferred the amount from its share premium [...]Safari Air Launches Direct Flights to Lodwar
Domestic carrier East African Safari Air Express has launched direct flights to Lodwar from Wilson Airport in Nairobi, increasing competition on a route currently served by Skyward Express and Fly [...]Family Bank Declares Fat Dividend Cheque of KSh 1.1 Billion
Family Bank owners have approved a KSh 1.1 billion, or KSh 0.83 per Share, dividend pay-out at the its 15th shareholders Annual General Meeting(AGM). This is after an impressive 2021 [...]
Uber Seeks Out of Court Deal with Kenyan Drivers
Uber, the ride-hailing firm, has requested Kenya's Supreme Court to allow it to settle the dispute with Kenya drivers out of Court. The dispute revolves around Uber slashing fares by [...]PMI for Kenya drops to 49.5 points in April
The PMI reading for Kenya fell below the 50-point neutral mark in April to 49.5 from 50.5 in March 2022. The Stanbic Bank Kenya PMI, dropped below the 50-mark first [...]Eggs Price Decline 20% as Supply Hits New Highs
Eggs are now retailing at KSh 360 in most outlets in Kenya from KSh 450 per crate in April. This 20 per cent drop has been attributed to increased supply [...]Liquid Intelligent Technologies Acquires Telrad
Liquid Intelligent Technologies, one of the largest Pan-African technology groups, has announced that it will acquire Telrad, an Israeli-based technology company, for an undisclosed amount of money. Liquid is a [...]Call for Entries Sankore announces 2nd Edition of Nairobi Web3 pitch competition
Nairobi-headquartered blockchain community Sankore has announced the launch of its second edition of pitch competition targeting startups building solutions in the blockchain space. According to Sankore, the main objective of [...]
