KSh 4 Billion Indemnity for Policyholders
Individuals and firms who took policy covers in financially troubled insurance firms and failed to receive their dues will get KSh 4.3 billion compensation from the government. This follows recent [...]
GCR Withdraws Cytonn's Investment Rating
Credit rating company GCR has withdrawn its issuer ratings for Cytonn Investment Management PLC for analytical reasons. An announcement on the company's website reveals that it last rated Cytonn in [...]
NSE Turnover Dips Due to System Failure
The Nairobi Securities Exchange (NSE) and the Central Depository and Settlement Corporation (CDSC) platforms suffered a breakdown in their link when the markets opened on Wednesday. While normal trading resumed [...]National Cement Completes Acquisition of ARM Cement Assets
National Cement has completed the acquisition of ARM's Kenya assets by paying KSh5 billion to ARM's administrators, Price Waterhouse Coopers (PwC). Henceforth, all Kenyan assets of ARM Cement belong to [...]Former NSE CEO Mwebesa Appointed CDSC CEO
The Central Depository and Settlement Corporation announces the appointment of Nkoregamba Mwebesa as the new CEO effective February 10, 2020. Mr Mwebesa has over 25 years of experience in the [...]
Global Fund Grants Kenya KSh 42.7 Billion for Health
Kenya has received KSh42.7 billion grant from the Global Fund, money that will go into the fight against diseases such as HIV, Malaria and Tuberculosis for the period 2021/2024. Furthermore, [...]KCB Injects KSh 5 billion Into Recently Acquired National Bank
LISTEN TO ARTICLE KCB has injected KSh 5 billion into the National Bank of Kenya, allowing the subsidiary to meet capital adequacy thresholds. Further, the 5 billion will also help [...]Telcos Price Wars to Continue into 2020
Communication Authority (CA) says that there are 53.2 million active mobile subscriptions in Kenya as of September 2019. On top of that, mobile penetration level stood at 112 percent with [...]Kenya Shilling to Come Under Intense Pressure in 2020
Although the Kenya Shilling exchange rate against the US dollar and other hard currencies has exhibited relative stability since this year begun, this trend is likely to change. The [...]Nairobi Railway Upgrade to Cost Ksh2.5B
The Kenya Railway Corporation (KRC) has intensified efforts to commence the Nairobi railway upgrade project at a cost of Ksh2.5Billion. Talking to Business Daily, Phillip Mainga, acting Kenya Railway Managing [...]Little Shuttle Temporarily Suspends its Services
Little Shuttle Services has announced a temporary suspension on its services starting today. The shuttle-hailing service is once again off the road after it halted its operations in October 2019. [...]KRA to Auction Overstayed Goods at JKIA
KRA will auction overstayed goods at JKIA if owners do not claim the items within thirty days. Owners have up to 3rd February 2020 to claim and remove goods from [...]
