Kenya's SafariLink Seeks to Expand Across the region
Local airline SafariLink seeks to fly to the rest of African destinations after joining the African Airlines Association (AFRAA). AFRAA, atrade associationofairlineswhich hail from the nations of theAfrican Union, and [...]
3rd Sh500 Million M-Akiba Bond closes today
The third M-Akiba bond will close today (12 midnight 6th September) where the treasury sought to raise Sh500m infrastructure bond. The bond opened on 19th August and issued through the [...]
Ksh 72 million stolen from Standard Chartered Bank’s ATM in Nairobi
Kshs 72 million was on Thursday, 6th September 2019, stolen from one of the ATMs belonging to Standard Chartered Bank in Nairobi West. Part of the cash was stolen as [...]Private sector growth drops in August PMI
Purchasing Manager Index (PMI) dropped to 52.9 in August from 54.1 recorded in July signalling a slowdown the private sector growth. New orders rose steeply as companies reported increasing client [...]87.7% of NBK shareholders accept KCB Group's buyout offer
KCB Group has announced that 87.70% of National Bank of Kenya (NBK) ordinary shareholders have accepted the buyout offer representing 297,130,033 of the 338,781,200 shares. At the close of the [...]Botswana’s Choppies Supermarket Exits Kenyan market
Botswana headquartered retailer, Choppies supermarket, has put up its assets on sale and announced plans to exit from the Kenyan market after classifying its twelve outlets as distressed. Choppies entered [...]American healthcare firm Abbott Opens Regional office in Kenya
Abbott, a leading US-based healthcare firm has announced the opening of its second sub-Saharan Africa office in Nairobi. The new office will is intended to support expanded growth opportunities for [...]
IATA Regional Aviation Forum to be held in Nairobi
The International Air Transport Association (IATA) will hold this year's Regional Aviation Forum in Nairobi on September 17th. The event, to be hosted by Kenya Airways, will focus on the theme [...]Kenya Mortgage Refinance Company Gets Ksh 1 Billion Funding from Banks
The Kenya Mortgage Refinance Company (KMRC) has received funding amounting to Kshs 1 billion from a number of local banks, SACCOs, the International Finance Corporation, Shelter Afrique, Kenya Women Finance [...]Kenya's rate cap limits lending to SMEs, leading to reduced bank earnings Fitch
In a report, Large Kenyan Banks: 2019 Peer Review Fitch Ratings says that implementation of the lending rate cap has led banks to shy away from lending to SMEs leading [...]CEOs of 447 Firms face jail time for failure to remit unclaimed assets
The Unclaimed Financial Assets Authority( UFAA) has reported that about 447 companies and institutions collectively hold unclaimed assets worth Ksh 241 billion that need to be passed on to their [...]Stanbic in Deal to Finance Kenyan traders importing from China
Stanbic Bank Kenya has entered into a partnership with Industrial Commerce Bank of China (ICBC) and Chinese trade agent Zhejiang International Trading Supply Chain Co. Ltd to enable Kenyan importers [...]
