Safaricom's Half-Year Profits Jump 14.4% to KSh35 billion
Safaricom has reported a 14.4 % growth in half-year net profit to Ksh 35.65 billion. Pre-tax profit increased by 12.7% to Ksh 49.88 billion. Service revenue increased by 5.3% to [...]
WPP Scangroup Directors Approve sale of its Ownership in Kantar
Directors at WPP Scangroup have approved the sale of 100% of its shareholding in Millward Brown's Nigeria, West Africa, and East African business. Additionally, WPP will also sell its shareholding [...]High Cost of Food Pushes Kenya's Inflation to 5% in October
The Consumer Price Index rose to 5% in October an increase from September's 3.8% inflation rate. The increase is as a result of higher food prices. Food prices, the most [...]Press Release; Digital Lenders Adopt Self-Regulation, Ethics and Professionalism
Press Release; Digital technologies have opened unlimited opportunities for individuals and businesses and the ripple effect is deeply felt in Kenya where six out of ten people own a smartphone. [...]Kenya's Construction Sector Attracts International Investors
Devolution has resulted in development in both urban and remote areas. As a result, there has been an increase in infrastructure projects across the country. This has led to high [...]Olympia Capital Reports a 10% Decline in Profits
Kenya's investment firm, Olympia Capital recently released its half-year financial results. It reported a 10% decline in earnings to KSh 13.1 million from KSh 14.8 million. It had a revenue [...]Court Halts Treasury's Budget cuts on Judiciary
The Judiciary has won its first-round after High Court suspended a treasury order to slash the Judiciary Budget. Justice James Makau ordered Treasury to maintain the original KSh 14.5 billion [...]Mediamax Lays off 150 Employees
Mediamax Network Limited has declared over 150 staff redundant with effect from October 30, 2019. Mediamax is the holding company of the People Daily Newspaper, Tv stations (Kameme and K24) [...]
Government to Transfer its Stake in Mumias Sugar to Kakamega County
Deputy President William Ruto recently revealed that the National Government will be passing on its shareholding in the troubled Mumias Sugar Company to the county government. The National Government owns [...]Dutch Investor Buys Stake in Moringa School
DOB Equity, a leading Dutch family office has acquired a stake in Moringa school a technology learning centre for an undisclosed amount of money. The funds will be [...]Kenya Power to Delay Publication of Financial Results
Kenya Power has announced that it will delay in the publication of audited financial statements for the year ended 30th June 2019. In an announcement, the company said that this [...]Bank stocks rally continues after Parliament supports repeal of rate caps
On Wednesday's trading session at the Nairobi Securities Exchange, banking sector stocks continued to soar following a move by members of the finance committee in Parliament to support of the [...]
