Absa's Q3 Net Profit Down by 65%
Absa Kenya's net profit in the first nine months of 2020 fell by 65% to KSh 1.9 billion, from KSh5.6 billion reported in the same period in 2019. A sharp [...]
Kenya Shilling hits 110 against US$ on Covid-19 2nd wave jitters
The Kenya Shilling has continued on its downward spiral against the US dollar to hit an all-time low of KSh 110 when the forex markets opened this morning. The depreciation [...]
Tuskys to Shut 50% of it Branches
Troubled retail store Tuskys plans to shut half of its branches in an attempt to stay in operation. The supermarket chain is facing deep financial challenges that have made it [...]Sidian Bank Q3 earnings drop 90% to KSh 8.1 Million
Sidian Bank has recorded a 90% drop in Q3, 2020 net earnings to KSh 8.1 Million compared KSh 83.5 Million over a similar period last year. The lender's net interest [...]CMA Confirms SIB's Money Manager License
The Capital Markets Authority (CMA) has issued a statement confirming that Standard Investment Bank (SIB) is licensed to operate as a money manager in Kenya, following false claims that SIB's [...]MultiChoice Group Exceeds 20 Million Subscribers For the First Time
MultiChoice Group has reached 20.1 million viewers, exceeding the 20 million mark for the first time in its history.Interim resultsfor the half-year ended September 30th, 2020 show that its customer [...]
KCB Sees Full-year Profits Declining by Over 25%
East Africa's largest bank by assets, KCB Group, expects its full year profit to drop by more than 25% compared to last year's full year profit due to the adverse [...]Where to Buy Land under KSh2 Million within the Nairobi Metropolis
Many people would like, and want to live around Nairobi Metropolis. Some because this is where they work, have their businesses, or just because they like the city environment. The [...]NSE turnover edges up 37% to KSh 365.84 Million
Turnover at the Nairobi Securities Exchange(NSE) stood at KSh 365.84 Million on a volume of 14.14 Million shares and 787 deals. The prime mover was ABSA Bank which traded a [...]Safaricom to Own 51% in Ethiopian Telco
Kenya's leading Telco, Safaricom, will own a majority stake of 51% in the consortium of firms seeking a Telecommunication license in Ethiopia. The information surfaced during Vodacom's H1 2021 results [...]Money Market Funds Dominate Unit Trust Fund Market
The Unit Trust Fund Managers Result for Q2 2020, shows that money market funds made up 89.6% of the total Unit Trust Fund market according to assets under management. Equity [...]Moderna Vaccine Found to be Effective towards Treatment of COVID19
Pharmaceutical firm Moderna's has announced that its Covid-19 vaccine is 94.5% effective treatment of coronavirus with few adverse side effects. Moderna’s CEO, Stephane Bance, described the positive preliminary analysis as, [...]
