Shoprite to Close The Waterfront Outlet
South Africa's retail giant, Shoprite, has announced closure of its The Waterfront, Karen outlet, citing the business as no longer viable. In relation to this, all 104 employees at the [...]
IFC to Invest KSh 1.59 Bn in Naivas
One of Kenya's leading retail stores, Naivas, has secured a $15 million (KSh1.59 Bn) investment from the International Finance Corporation (IFC). The large investment is a sign of confidence in [...]
Central Bank Unveils Measures to Tame Unregulated Digital Lenders
Digital lenders' predatory ways are about to come to an end following the gazetting of the Credit Reference Bureau Regulatory, 2020 (CRB REGULATIONS) on April 8, 2020. The new regulations [...]
Pump Prices Fall
Kenyans are set to enjoy lower pump prices in the coming days. The Energy and Petroleum Regulatory Authority has released revised retail prices of petroleum products effective from 15th April [...]Kenya's Parliament Plans Virtual Sittings
Members of Parliament in Kenya could soon hold virtual meetings and conduct online debate sessions as they pass laws on dealing with COVID-19. The House's sitting capacity has been reduced [...]
Co-op bank to pay dividends earlier in response to COVID19
It is a huge relief for shareholders of Co-operative Bank of Kenya. This follows a move by the Bank's Directors to move back the date of dividend payments to its [...]Absa Kenya Restructures Loans Amounting to Ksh 8.3Bn
ABSA Bank Kenya has restructured customer loans amounting to over Ksh8.3 billion within the last two weeks. The move is meant to shield customers and provide relief from financial distress [...]Kenya's Flower Industry Suffers Lack of Freight
Kenya's flower industry is now facing another setback amid the coronavirus outbreak; lack of freight, even as demand begins to grow steadily ahead of Mothers' Day. The Kenya Flower Council [...]Ethiopian Airlines Bags Deal to Ferry Kenya's Cargo
Africa's largest airline, Ethiopian Airlines, has bagged the prestigious deal to carry Kenya's cargo from JKIA to Europe and Asia using six of its passenger aircrafts. The move has attracted [...]Cash Transfers to Vulnerable Kenyans
The Kenya Government plans to pilot a cash transfer program that will enable the elderly and most vulnerable members of the society to buy food while coping with the effects [...]Stanbic Announces Early Repayment of KSh4Bn Bond
Stanbic Bank Kenya intends to redeem 100% of the Bank's existing Ksh4 billion Tier II outstanding notes maturing on 8th December 2021. The bond was issued in January 2015. As [...]Investors in NSE Derivatives Post Record Profits in Q1 2020
The NSE derivatives market (NEXT) has recorded massive profits in the first quarter of 2020. For the period commencing 3 January 2020 to March 2020, the derivatives market offered significant [...]
