Vikas Mehta to Succeed Mathieu Plassard as Ogilvy Africa CEO
Vikas Mehta, who until now was the CEO of Mullen Lintas, is set to replace Mathieu Plassard as the Ogilvy Africa CEO following Mathieu's departure from Kenya to pursue the [...]
70% of Kenyans not prepared for retirement survey
A recent report by the Association of Kenyan Insurers shows that over 70% of Kenyans are not prepared for retirement. This is attributed to high cost of living, meagre income, [...]Kenya Hotel bookings Up 15% as festive season approaches
Data from the Central Bank of Kenya (CBK) shows that on average forward hotel bookings for September to December 2019 are higher relative to a similar period in 2018. MPC [...]
Diaspora remittances decline to KSh22B
Data from CBK shows that diaspora remittances fell for a second straight month to USD 214 million in August, which was a 4.5 percent decline from USD 224 million recorded [...]Nairobi ranked world's 4th most congested city
Nairobi Metropolitan Area Transport Authority released a report that stated that vehicles stuck in traffic potentially cost Kenya almost $1 billion a year in lost productivity. Nairobi has been ranked [...]Kenya's insurance regulator seeks to set up industry sandbox
The Insurance Regulatory Authority is looking to set up a regulatory sandbox for targeting players in the insurance industry by the end of 2019. The sandbox will allow companies to [...]Poll Reveals Kenya is the most optimistic country in Africa
A new report dubbed Global Optimism Outlook Survey has revealed that 70 per cent of Kenyans are optimistic about the country's future, compared with a global average of 56 per cent, and [...]NSE suspends Mumias Sugar shares from trading
Shares for Mumias Sugar Company (MSC) Limited have been halted from trading today at the Nairobi Securities Exchange (NSE) following yesterday’s appointment of PVR as receiver managers by KCB bank. [...]
Kenya's 80MW Utility Scale Solar Plants Projects to Receive Funding
Kenya is planning on expanding its solar power capacity by building two utility scale projects, The Radiant and Eldosol. The two projects will supply green electricity to about 300,000 of [...]87% of banks optimistic about Kenya's economic growth prospect
A survey conducted by the Central Bank of Kenya showed that 87 percent of banks are optimistic about the country's economic growth prospects. Speaking during the post-Monetary Policy Committee (MPC) [...]CIC's five-year KSh5bn medium-term note matures
CIC Insurance Group has announced the maturity of a KSh5 billion five-year Medium Term Note (MTN). The note was issued on 8th October 2014 at a 13 percent interest rate [...]KCB appoints a receiver manager for Mumias Sugar
KCB has appointed a receiver-manager to run the debt-ridden Mumias Sugar Company over default in loans the bank provided to the firm. KCB appointed PVR Rao as the receiver-manager to [...]
