Kenyan E-Commerce Platform Copia Raises $26 Million for Expansion
Kenyan e-commerce platform Copia has raised $26 million (KSh2.6 billion) in a Series B funding round led by LGT Lightstone. The six-year-old company will use the funding to expand across [...]
Francis Wabuke Appointed as Mumias Sugar Acting General Manager
KCB has appointed Francis Wabuke as the General Manager for Mumias Sugar in acting capacity. This comes after the miller was placed under receivership in September this year. Since then, [...]HF Group Cuts Q3 Loss to KSh 84.6 Million
Mortgage lender Housing Finance Group has cut its net losses to KSh 84.6 Million in the third quarter of this financial year compared to a net loss of KSh 332 [...]
Farmers to Benefit From Ksh300m Crop Insurance Program
Kenya's agriculture ministry is seeking crop insurance providers to cover smallholder farmers from risks and shocks of climate change. The expanded crop insurance program (CIP) will run in 33 out [...]
More Job Losses as Choppies Closes its Kisumu Branches
Choppies supermarket is closing its Kisumu branches as the retailer struggles to make sufficient revenues. The retailer closed its first branch yesterday at Swan centre, transferring stock to other branches [...]Stanbic Bank pushes Q3 Net Earnings to KSh 5.1 billion
A leaner Stanbic Bank Kenya Limited recorded an increase in net earnings to KSh 5.1 billion in September this year compared to KSh 4.7 billion in the first nine [...]Kenya Commits to Tackling Illicit Financial Flows
Kenya has shown commitment to tackle illicit financial flows (IFFs) through the signing of the Yaounde Declaration. The Yaounde Declaration is a continental declaration calling for curbing of illicit flows [...]IM Bank Net Earnings Hit KSh 6.6 Billion in Q3
Kenyan-based IM Bank Group posted net earnings of KSh 6.6 billion at the end of nine months of 2019. This is compared to KSh 5.9 billion made at the end [...]US Company Makes Another Bid for Imperial Bank Assets
Amassment Corporation, a US-based financial company, is seeking to make another try at acquiring the assets of Imperial Bank. This comes after they cited readiness to lower KDIC's contribution in [...]Rubis Energie Revenues Doubled after Acquiring KenolKobil
Rubis Energie has doubled its revenues and the number of petroleum products sold in Africa, after it acquired KenolKobil. According to the firm's Q3 results, combined revenues for its African [...]Sony Sugar Managing Director Resigns
Sony Sugar Managing Director, Bernard Otieno, has resigned, stating that he has opted for early retirement. In April this year, the company's board of directors sent him on compulsory leave [...]Air India Resumes Flights to Nairobi
Air India has relaunched its flights to Nairobi, a move that seeks to boost tourism between the two countries. This comes after the airline's flight from Mumbai to Nairobi landed [...]
