Absa Kenya Group Q1 Net Earnings Climb 28% to KSh 2.4 Billion
Absa Kenya Group unaudited Net Profit for the first quarter ended March 31st 2021 rose to KSh 2.4 Billion compared to KSh 1.96 Billion in Q1, 2020, an increase of [...]
CBK Accepts KSh 22.4 Billion at Weekly T-Bills Auction
The Central Bank of Kenya(CBK) received bids worth KSh 38.9 Billion out of KSh 24 Billion worth of Treasury Bills at the Weekly Treasury Bills Auction, a performance rate of [...]Crown Paints to Raise KSh711 Million in Rights Issue
Listed company, Crown Paints, plans to raise KSh711,810,000 through a rights issue after obtaining the necessary approvals from the company's board of directors, shareholders, and the Capital Markets Authority. As [...]
Djibouti's Top Bank Acquires Kenyan Microfinance Bank
Salaam African Bank, the leading bank by branch network in Djibouti, has acquired 100% ownership in Kenya's Uwezo Microfinance Bank, giving the lender a presence in Kenya's banking industry. The [...]KRA Destroys Illicit Goods Worth KSh1 Billion
Illicit trade of fast-moving goods in Kenya has been on the rise in recent years. The trade poses unfair competition to legally trading products and presents health risks to unsuspecting [...]IFC to Loan KSh5.4 Billion to IM Bank Kenya
The International Finance Corporation has announced a plan to loan KSh5.4 billion ($50 million) to IM Bank Kenya, the biggest subsidiary of IM Holdings. The loan will be used to [...]Bamburi Cement Investors to Receive KSh1.089 Billion in Dividends
Bamburi Cement investors are set to receive KSh1.089 billion in dividends after the company posted impressive results in 2020. Shareholders on the company's register at the close of business on [...]Coop Bank's 1st Quarter Profit Dips 4% to KSh 3.46 Billion
Cooperative Bank, Kenya's fourth-largest bank by assets, has reported a 4% dip in its net profit in the first quarter of this year compared to the same period in 2020. [...]Kenya's Microfinance Institutions Embrace Technology
Microfinance is a relatively young industry in Kenya, despite launching in the mid-1990s. Kenya has 14 registered Microfinance Institutions (MFI) which provide financial and non-financial support to nearly 8.5 million [...]KenGen's US$6.5 Million Djibouti Power Project begins Next Month
Kenya Electricity Generating Company(KenGen) is set to begin drilling works on the $6.5 Million(KSh 709.8 Million) Geothermal Power Project, starting June this year. This International contract was awarded to KenGen [...]Kenya to Receive US $ 410 Million from IMF in Coming Weeks
Kenya will access about US$410 million from the International Monetary Fund(IMF) once a review of its financing program is completed by the IMF's Executive Board in the coming weeks. This [...]NSE Daily Turnover Rises 146% to hit KSh 1.1 Billion
Nairobi Securities Exchange(NSE) recorded a turnover of KSh 1,102,657,782 after a total of 30.6 Million shares traded in 1,051 deals when trading ended at the bourse this Monday. Uchumi Supermarkets [...]
