Egyptian lender CIB to Make an Acquisition in Kenya
The Commercial International Bank (CIB), an Egyptian private sector lender has announced its working on acquiring a bank in Kenya. The bank's board revealed this after they reported a 23% [...]
CBK Seeks KSh 50 Billion for Budgetary Support
The Central Bank of Kenya (CBK), the fiscal agent for the Government of Kenya, is seeking KSh 50 billion from investors through a ten-year bond. The purpose of this 10-year [...]
Kenya's First Sportswear Company Enda Secures Seed Funding
Enda, Kenya's first high-performance shoemaker, announced its seed funding on Monday. The start-up secured an undisclosed amount from Umoja Rubber Products and Mizizi Capital to accelerate its international growth. A [...]Equity Turnover Dropped to KSh 30.7 Billion in Third Quarter
Equity turnover for the three months from June to September dropped to KSh. 30.66 Billion compared to second-quarter turnover which stood at Sh 32.90 Billion; indicating a 6.8% decrease. According [...]Mumias Sends all Employees Packing
Mumias Sugar Company sacked all employees upon being placed under receivership. In a notice sent on 5th November 2019, Mumias Receiver manager declared all employment contracts redundant from the date [...]
Parliament Adopts Proposal to Remove Rate Cap Law
President Uhuru’s recommendations to remove the interest rate cap law have sailed through. The National Assembly adopted the recommendations after MPs failed to hit the quorum necessary to overturn the [...]
Shopkeeper is king of credit market
According to the latest Kenya Financial Sector Stability Report, loans from theshopkeeper constitute the largestproportion of credit followed by loans from family andfriends and mobile banks. The report is prepared [...]The Far East, a Crucial Destination for Kenyan Exports
The Far East is proving to be a huge market for Kenya's exports gobbling up 29.5 percent of the total exports in 2018. According to a Kenya National Bureau of [...]Oracle Corporation Unveils Latest Digital Solutions
Oracle Corporation has unveiled its latest cloud-led digital solutions which include; an Oracle autonomous database, AI embedded business applications and the generation 2 cloud infrastructure. It unveiled the solutions to [...]Guala Invests KSh570 Million in Kenya in Fight Against Counterfeits
Guala Closures East Africa (GCEA), a screw-top manufacturer, has put in KSh 570 million to set up a factory in Nairobi. The firm launched the Nairobi plant on Monday with [...]Senate Committee Approves Treasury's KSh 9 Trillion Debt Ceiling
The Senate committee has approved the amendment to the Public Finance Management Act, 2012. The act seeks to raise Treasury’s debt limit to an absolute KShs9 trillion. The National Assembly [...]Kenya Airways Partners with Safarilink in Codeshare Agreement
Kenya Airways and Safarilink have signed a codeshare agreement. The agreement seeks to connect passengers from the Kenya Airways network straight into their safari destinations within Kenya and Tanzania. In [...]
