CIC Issues Profit Warning, Cites High Claims in Insurance Business
CIC Insurance Group has issued a profit warning for the financial year ending 31st December 2019. The insurance group projects that the company's profits will be more than 25% lower [...]
Danish Investment Fund Acquires KSh2 Billion Stake in TDB Bank
The Danish Investment Fund has acquired a KSh2 billion stake in the Trade and Development Bank (TDB), formerly known as PTA Bank. The Danish firm has become the bank's largest [...]Equity Bank's New Look and Regional Expansion
Equity Bank started 35 years ago as a small lender in Murang’a. It was established by the former Chairman Peter Munga. The lender has since evolved into a financial powerhouse [...]
President Uhuru to Launch Cargo Services on Nairobi-Suswa SGR
The president today will launch Cargo services on the Naivasha SGR following a launch on Passenger services in October. The flag-off set for today will be attended by an envoy [...]Gina Din Group Sold to Edelman Kenya
Public relations firm Gina Din Group is in the process of being acquired by Edelman Kenya for an undisclosed amount. According to a notice in the dailies, Gina Din will [...]16/12/2019; Market Report
The bourse opened the week with a total of 10.5 million shares valued at KSh.384Million, against 49Million shares valued at KSh.1.3Billion posted on Friday. The NSE 20 share Index was [...]
Safaricom Shares Boost Activity at the NSE
Boosted by the sale of Safaricom shares, turnover soared to KSh.1.29Bn from the previous session’s KSh.384M, the number of shares traded stood at 34M against 10.5M posted this Monday. Safaricom [...]Petrol and Diesel Prices For December Drop
Petrol and Diesel Prices dropped by KSh 1.09 and KSh 2.83 per litre respectively for the month that runs from 15th December 2019 to 14th January 2020. Additionally, Kerosene prices [...]Norfund Writes off KSh1 Billion Capital in Kinangop Wind Farm
Norfund has written off its KSh1 billion investment in Kinangop Wind Farm project. This follows cancellation of the project in 2016 after protests from the local communites, who cited inadequate [...]Cost of Goods Rises as East Africa Faces Region-Wide Inflation
East Africa member countries face rising inflation as the year comes to an end. Kenya, Uganda, Tanzania and Rwanda saw prices of goods rise in November, as the festive season [...]Kenya’s Renewable Energy Attracts Chinese Investors
Kenya's renewable energy sector has attracted a bunch of Chinese investors, looking at the fact that Chinese energy companies are planning to invest billions of shillings in the sector. According [...]Red Cross' Boma Hotels Placed Under Receivership
The Kenya Red Cross (KRC) run Boma Hotels has been placed under receivership after failing to repay loans owed to National Bank of Kenya. According to financial documents, KRC was [...]
