Absa to Settle All Supplier Invoices Within the Fortnight
Absa has unveiled a new raft of measures aimed at cushioning small businesses and individuals from the financial impact arising from the COVID-19 pandemic. These include a pledge to settle [...]
Stiff competition triggers layoffs at Standard Group
Standard Group, considered the oldest media house in Kenya, has announced plans to declare some of its employees redundant. An internal memo to all staff, dated 18th March, 2020 and [...]CBK Expected to cut rate as Shilling Weakens to 106.51 Against Dollar
Expectations are high that the Monetary Policy Committee (MPC), a top think tank of the Central Bank of Kenya (CBK) will lower the Central Bank Rate (CBR). This is at [...]Stanchart Kenya Records Marginal Growth in Full Year Net Earnings
Standard Chartered Bank Kenya has recorded a marginal increase in profit of KSh 8.2 billion compared to KSh 8.1 billion the previous year. Its balance sheet grew in size grew [...]NSE Issues New Initial Margin Requirements
The Nairobi Securities Exchange has issued new initial margin requirements for Futures trading on the exchange. In the notice to all NSE stakeholders, the NSE announced initial margin changes to [...]
Equity Group to Set Up a Holding Company for its Insurance Business
Equity Group Holdings has announced plans to undertake long term insurance business in Kenya. Furthermore, the company is working on setting up a non-operating holding company to hold its insurance [...]EABL to Acquire 30% Stake in Serengeti Breweries
East African Breweries Limited (EABL) has announced plans to acquire an additional 30% stake in Tanzania's Serengeti Breweries Limited (SBL). However, the transaction is still subject to approval by regulatory [...]Kenya's Flower Industry Succumbs to COVID-19
Kenya's flower industry is turning out to be the hardest hit sector by the COVID-19 pandemic, seeing that most farms are beginning to send home their employees as a result [...]Equity Bank Earnings Up 14% to Sh 22.6 Billion
Equity Group has reported a 14% growth in profit after tax growth to Kshs 22.6 billion for the year ended 31st December 2019. The bank's loan book grew by 23% to [...]Co-operative Bank Full Year Earnings Up 12.5% to KSh 14.3 billion
Kenya's Co-operative Bank Group has posted a net profit of KSh 14.3 billion at the close of the financial year ended 31st December, 2019. This is compared to KSh 12.7 [...]CIC Group Profit Decreases by 33% to KSh321.6 Million
CIC Group net earnings dropped by 33% from KSh 480.9 million in 2018 to KSh 321.6 million in the financial year ended 31st December, 2019. The decrease is attributed to; [...]Listed Firms to Postpone Annual Meetings
Listed firms that were scheduled to hold their Annual General Meetings (AGMs) have been told to defer these meetings to a later date. This follows a Presidential Directive that has [...]
