Kenya's Economic Growth to Rebound to 5.3% in 2021 National Treasury
Kenya's economic growth rate as measured by the Gross Domestic Product (GDP) is expected to rebound to 5.3% in 2021. Estimates from National Treasury indicate that GDP will slow down [...]
Credit Guarantee Scheme for MSMEs Receives Cabinet Approval
It is a sigh of relief for many cash-strapped micro, small and medium-sized enterprises (MSMEs), presently struggling to remain afloat. This follows cabinet approval of plans to set up a [...]Visa Appoints Eva Ngigi as Kenya Country Director
Visa has appointed Eva Ngigi as the new country manager for Kenya effective 9 September 2020. In addition, Eva will serve as the Senior Business Development leader and be part [...]
Kenya's Banking Giants Lift Provisions as COVID-19 Hits Lending
Equity and KCB both lifted provisions in the first six months of 2020 to brace with the harsh economic environment that has severely affected lending. Equity Group increased its loan [...]
IMF Projects Upward Revision of Kenya’s GDP
The International Monetary Fund (IMF) has foreseen a surprise upward revision of Kenya's Gross Domestic Product (GDP), conflicting IMF's June projection of a0.3% shrinkage in 2020after the global COVID-19 pandemic [...]NSE Turnover Declines to KSh 143.4 Million
Turnover at the Nairobi Securities Exchange continued on its downward slide this week, closing at KSh 143.35 Million on 9th September 2020. This is compared to a turnover of KSh [...]Competition Intensifies in Kenya's Smartphone Market
Competition for a share of Kenya's smartphone market has moved a notch higher. This follows entry of the low-cost Kaduda 4G smart devices into the market. Manufactured by ZTE-a Chinese [...]Spire Bank Records KSh556 Mn Half Year Loss as Loan Default Rate Hits 90%
Recent unaudited results show that Spire Bank made a net loss of Ksh 556 million for the first six months of 2020 compared to a net profit of Ksh 81.48 [...]World Bank Approves $750 Million for North Eastern Kenya Projects
The World Bank, through its International Development Association (IDA), has approved $750 million in financing for North Eastern Kenya projects; dubbed the Horn of Africa Gateway Development Project (HoAGDP). The [...]Absa Dominates Trading at NSE
Absa Bank was the biggest mover at the Nairobi Securities Exchange(NSE) when trading at the bourse on 8th September, 2020. It traded a volume of 4.13 Million shares at between [...]Shoprite Supermarket to Exit Kenya by December 2020
South Africa's retail giant Shoprite has indicated plans to shut down its loss-making Kenyan business by December this year. The retail chain is leaving Kenya's fiercely competitive retail market, barely [...]HEVA Launches Additional Growth Funds for Creatives
HEVA has partnered with the European Commission and the Agence Française de Développement (AFD) to launch a KSh 41 million growth funds for Creatives in Kenya, Uganda, Tanzania, and Ethiopia. [...]
