Kenya Airways to be Bought out by End of 2020
The National Treasury has announced plans to buy out Air France-KLM, local banks and over 800,000 individual shareholders from Kenya Airways. This will lead to the delisting of Kenya Airways [...]
Tanzania Plans to be the World's Biggest Cashew Exporter
Tanzania has plans to triple the cashews output to 1 million tons. The country aims to become the biggest exporter of the nuts in the next four to five years. [...]CDC Group Appoints New Heads For Nairobi and Lagos Offices
CDC Group has announced the appointment of Seema Dhanani as the leader of its Nairobi Office while Benson Adenuga will head the Nigerian office. Seema Dhanani joins CDC from Mauritius [...]Standard Chartered Bank Lends KSh6.3 Billion to SMEs Over Nine Months
Standard Chartered Bank has injected Ksh 6.3 billion in both direct and indirect lending to Micro, small and medium enterprises in the last 9 months to September 2019. The bank [...]State Corporations Remit Funds to Treasury
Parastatals have started remitting excess funds to the national treasury to bridge funds gap. Treasury earlier gave a directive requiring parastatals remit excess funds such as cash balances and near liquid [...]Equity Group Hits KSh100bn in Diaspora Remittances
Equity Group had Ksh 100 billion in diaspora remittance volumes in the 9 months to September. Consequently boosting the lender's forex trading income to Ksh 2.84 billion shillings in the [...]New Directive to Ease Importation of Goods
The government has reversed an earlier requirement for imported goods to be inspected in their country of origin. This comes after local traders and importers complained of the high fees [...]Co-op Bank Moves 90% of Customer Transactions to Digital Channels
Through its multi-channel strategy, Co-Op Bank has successfully moved 90 percent of all customer transactions to alternative delivery channels that include mobile banking, an expanded 24-hour contact centre, 586 ATMs, [...]
Kenya and Somalia to Restore Visa on Arrivals as Relations Improve
Kenya and Somalia will restore the visa on arrival arrangement as the relationship between the two countries takes a new turn. The latest development aims at enhancing the movement of [...]Eaagads Reports a Loss of KSh 43.3 Million
Eaagads has released its financial results for the period ended 30th September 2019. The company's half-year revenue dropped to Ksh 14.9 million from Ksh 35.9 million recorded in the same [...]Developing Countries to Use Digital Technology to Grow Economies
A report by Pathways for Prosperity shows that despite 80 percent of people in developing countries living under a cellular network, only 30 percent have ever used the internet. Digital [...]
KCB Group Plc Tops the Banking Sector with KSh 19.2 Billion Net Profit
KCB Group Plc maintains its top position as the most profitable lender in Kenya. Its financials for the nine months ending September 30th, 2019 indicate that its net profits increased [...]
