Motor, medical insurance biggest loss-makers, says Deloitte report
While motor private and medical classes are the two largest units in Kenya’s insurance underwriting business, they are also among the most loss-making businesses. Other major business classes, in terms [...]
Two Stanbic Board Members Retire
Stanbic held its Annual General Meeting and unanimously passed various resolutions. The investors approved the payment of a final dividend of KSh3.55 per share for the past financial year. Messrs [...]Oil Exports and the Private Sector are key to Kenya's Economic Diversity
Kenya’s new status as an oil-exporting nation play a crucial role in diversifying the country’s economy. Moreover, East Africa's diversity is the ultimate shield against fluctuating prices from global trade [...]IM Bank and Tatu City ink Property Financing Deal
IM Bank has agreed to finance private buyers of property within the 5000-acre Tatu City development plan. A Memorandum of Understanding between the two companies will make it easier for [...]
Little Shuttle Halts Operation as from 1st October 2019
The Little Shuttle service has been temporarily halted with effect from October 1st 2019 following a directive from transport authorities. The authorities argue that Little does not have the right [...]Afrexim Bank opens East Africa Branch in Uganda
The African Export-Import Bank (Afrexim) officially signed a deal with Uganda where the bank will open an East African Branch office in Kampala. The deal was officially signed by President [...]Mediamax Announces Intended Redundancies
Kenyan based media house Mediamax Networks Limited which operates K24 TV, a number of vernacular stations and a free newspaper People Daily has announced the reorganization of its staff structure [...]Betin Sends all Staff Home After Closing Operations
Sports betting firm Betin Kenya has issued a notice of termination to all its staff as the betting firm closes operations. Employees of the betting firm have until the end [...]ABSA Joins Principles for Responsible Banking
Barclays Kenya Parent Company, ABSA, signed the Principles for Responsible Banking in Paris joining a coalition of 130 banks worldwide representing over $47 trillion. On September 22, ABSA became one [...]KAA names Alex Gitari as Acting CEO
The Board of Kenya Airports Authority (KAA) has appointed Mr. Alex Gitari as the acting Managing Director/CEO effective October 1, 2019. Mr. Gitari is the current General Manager, Finance, and [...]KenGen to Redeem its KSh 25 Billion Infrastructure Bond
Kenya’s main electricity generating company, KenGen, has announced that it will be making the final payments to bond holders of its 10-year, KSh 25 billion infrastructure bond. This bond was [...]
Alcohol and Tobacco Companies cry out over 21% Excise Duty
Beer and cigarette manufacturers have expressed their dissatisfaction over the 21% excise duty arguing that the new taxes will have adverse effects on other members of the value chain. Last [...]
