Safaricom Appoints Michael Mutiga as Chief Business Development Strategy Officer
Safaricom has appointed Mr Michael Mutiga as its new Chief Business Development and Strategy Officer, with effect from 1st May 2022. Mr Mutiga will be responsible for strategic partnerships, mergers [...]
KenGen to Add 400MW Geothermal Energy to the National Grid
KenGen (Kenya Electricity Generating Company) has announced plans to add 400MW of geothermal power to the national grid in the next five years. The company says the output would completely [...]KCB Set Open New Subsidiary in Rwanda
Kenya Commercial Bank (KCB) Group has announced plans to open a new subsidiary in Rwanda, seeking to double its regional business in the next two years and support economic expansion [...]Belgium Becomes Kenya's Largest Coffee Market
Belgium has become Kenya’s top export market for coffee, toppling over America for the first time in a decade. Belgium imported Kenyan coffee worth kes 6.5 billion in the year [...]
NCBA Reports Net Profit of Kes 3.41 Billion in Q1
NCBA Group PLC has recorded a profit after tax of kes 3.41 billion for the quarter ending March 31, 2022, an increase of 20.3 per cent compared to the kes [...]Cyber Attacks Remain Key Risk in Online Banking CBK
A new survey by the CBK dubbed the banking sector innovation survey shows that commercial banks have identified cyberattacks as a key risk to online banking innovation as they continue [...]Kenya's Poverty Rate to fall to 33.4% in 2022- World Bank
The world bank projects that Kenya’s poverty rate will fall to 33.4 per cent in 2022, below the pre-crisis level of 34.4 per cent in 2019 The Washington based lender [...]KBC Fails to Remit KSh984.3 Million Employee Retirement Benefits
Kenya Broadcasting Corporation (KBC) has failed to remit employee retirement benefits of upto KSh984.3 million. According to a report by Auditor General Nancy Gathungu, KBC has equally not remitted other [...]KQ Signs Codeshare Agreement with US' JetBlue Airline
Kenya Airways (KQ) has signed a codeshare agreement with JetBlue airline, allowing Kenyans living in Minnesota to fly nonstop to Nairobi. The move comes as a boost to the carrier [...]Crown Paints Posts Net Profit of KSh 731M
Crown Paints Kenya Plc recorded a net profit of KSh 731 Million in 2021 compared to KSh 600 Million in 2020, its audited financials for 2021 show. The firm’s revenue [...]
NSE Activity Dampens as More Foreigners Exit
Nairobi Securities Exchange(NSE) saw more foreign investors cashing out, dumping a further KSh 1.7 billion ($14.3 million) worth of stocks in April 2022. This brings the year to date (YTD) [...]EABL Pays KSh673.8 Million to Bond Holders
East African Breweries Limited(EABL) has paid an interest payment of KSh673.8 Million to bondholders of its KSh 11 billion medium-term corporate bond. EABL paid the interest on April 28th 2022, [...]
