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 [...]CBK collects KSh 23 Billion from Weekly Treasury Bills Auction
The Central Bank of Kenya(CBK) accepted Treasury Bills worth KSh 22.968 Billion from the Weekly Treasury Bills auction out of KSh 24 Billion, a performance rate of 95.7% The most [...]Kenyan Bourse Hikes Dividend After Net Profit Doubles to KSh168 Million
The Nairobi Securities Exchange has reported a 109% increase in net profit for the year that ended in December 2020. Its profit after tax increased to KSh167.9 million at the [...]4 Key Factors Driving Real Estate Market in Nairobi
The real estate sector is one of the markets that drive economies across the world. It is an industry that is among the top revenue earners for many countries across [...]Diamond Trust Bank's Net Profit Dips 51% to KSh3.5 Billion
Diamond Trust Bank's (DTB) net profit for the year that ended on 31st December 2020 dipped by 51% to KSh3.5 billion, from KSh7.3 billion in 2019. According to the lender, [...]AfDB Loans KSh11 Billion to Equity Group Holdings for Expansion
The African Development Bank (AfDB) has loaned KSh11 billion to Equity Group Holdings (EGH) to expand East and Central Africa. The loan further seeks to boost EGH's ability to serve [...]E-commerce Like Never Seen Before; Why The World Should Take Note of Africa
E-commerce in Africa is at the tipping point and ready for massive growth. This is according to a recent report titled E-commerce Like Never Before conducted by Dentsu advertising agency. [...]
CIC Insurance Posts KSh297 Million Loss in 2020
CIC Insurance Group, one of the largest insurers in East Africa, has reported a net loss of KSh297 million for the full-year period that ended on 31st December 2020, a [...]
