IM Holdings Proposes Dividend Bonus Issue as Profit Falls by 21%
IM holdings has posted a 21% drop in net profit for the year ended 31st December 2020. The bank's profit after tax decreased to KSh8.4 billion in 2020 from KSh10.8 [...]
Kenya Seeks Debt Service Suspension to June 2022
Kenya has sought the Debt Service Suspension Initiative (DSSI) extension to June 2022, a one-year extension from the earlier granted June 30, 2021, debt service suspension secured in January. Besides [...]
KQ Pilots Suffer Blow as March Salaries Remain Withheld
Kenya Airways (KQ) pilots have suffered a blow as the national carrier has decided to withhold their March salaries. According to the airline, March salaries will only be remitted after [...]Rwanda's Largest Bank Posts $38.7 Million Net Profit
Bank of Kigali (BK), the largest commercial bank in Rwanda by assets, has reported a full-year net profit of $38.7 million, an improvement from the $37.5 million posted at the [...]Oil Prices Decline Further, Investors Focus on OPEC+ Meeting
Oil pricesfell on Tuesday as shipping traffic resumed through the Suez Canal after days on hold. Investors focus has switched to an OPEC+ meeting this week where the extension of [...]
Family Bank Group Net Earnings up 22.4% to KSh 1.2 Billion
Family Bank Group's net earnings rose by 22.4% to KSh 1.2 Billion at the end of 31st December 2020. The lender also recorded a pre-tax profit of KSh 1.440 Billion [...]
Kenya Airways Goes Big on Cargo as Pandemic hits Passenger Traffic
Kenya Airways plans to double down on cargo as pandemic hits its passenger business, which is not expected to recover until 2024. Its Chief Executive Allan Kilavuka told a recent [...]Kenya Maintains Key Interest Rate at 7% for the Eighth Time
The Central Bank of Kenya maintained the key interest rate at 7% for the eighth consecutive time, following yesterday's Monetary Policy Committee meeting. According to the bank, the current rate [...]Bolt Launches Food Delivery Service Bolt Food in Nairobi
After earlier launching the service in South Africa and Ghana, ridesharing app bolt has launched a food delivery service in Nairobi named Bolt Food. The launch in Kenya comes after [...]Kenya Airways Suspends Easter flights
Kenya Airways has suspended new frequencies that it had planned during the Easter holiday between Nairobi, Kisumu, Eldoret, the coastal town of Mombasa and Entebbe in Uganda. As a result [...]NCBA's Profit NoseDives by 42% on Increased Loan Loss Provisions
NCBA's full year net profit for the year 2020 nosedived by 42% to KSh4.6 billion as the bank ramped up its provisions for loan losses. The tier-one lender put aside [...]Equity Sets Aside KSh27 Billion for Loan Losses, Net Profit Dips 11%
Equity Holdings' net profit for the year 2020 fell by 11% as the lender suffered from the effects of the covid19 pandemic. The bank's full-year net profit decreased to KSh20.1 [...]
