Mpesa to move beyond Kenya
Safaricom interim CEO Michael Joseph on Wednesday that he would focus on expanding financial services business Mpesa beyond Kenya. In an interview with Reuters Joseph said,” I’m particularly keen to [...]
EABL to lay off 100 staff in a restructuring plan
Diageo Africa Business Service Centre (ABSC) the major shareholder in East African Breweries Limited (EABL) plans to shut down its Nairobi based business support center and outsource the services. The [...]Telkom Kenya to terminate the employment of 575 employees
Telkom Kenya has announced a plan to send home 575 employees of the company. The massive lay-off follows Telkom’s decision to form a joint venture with mobile services company Airtel [...]
Kenya ranked 8th largest geothermal power producer in the world
Kenya has moved up to position eight on the global ranking of largest geothermal power producers. It follows the completion the first unit of Olkaria V project. In a statement [...]CMA partners with Abu Dhabi Global Market in offering sustainable finance
The Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM) and the Capital Markets Authority of Kenya have partnered to enhance sustainable finance in each other's Market. The [...]
EPZ sales to hit KSh90 billion in 2019
Kenya's exports through its Export Processing Zones (EPZ) are expected to increase to KSh90 billion ($866 million) in 2019 from the KSh80 billion ($770 million) booked last year. The growth [...]WPP Scangroup to sell 60 percent stake in Kantur business
WPP Scangroup plc has recently issued an announcement in relation to the proposed sale of its Kantur business in Africa which includes an 80% shareholding in Kantur TNS and a [...]Analysts Issue Strong Buy Rating for Barclays Kenya Stock driven by High Dividend Yield
Barclays BankofKenya is undergoing amajortransformation that will see the bankacquire a new identity as Absa Bank.Besidestherebranding, Barclayswillalsoadopt amorecustomer-centricapproach to business.Analysts rate the rebranding exercise as a historic event for the [...]Eaagads pretax profits jump to KSh1.7 million
Eaagads Limited has reported its full financial year results. The company's financial performance improved with pretax profit jumping to KSh1.7 million from a loss before tax of KSh 51.8 million [...]Liberty Kenya appoints Gladys Ogallo to its board of directors
Liberty Kenya has named Gladys Ogallo to its seven member board of directors. Gladys is the founder and Chief Executive Officer at Virtual Human Resources Services. She has a rich [...]Jambojet to increase flights to coastal towns
Low-cost carrier Jambojet is set to increase flight frequency to coastal towns of Mombasa, Ukunda (Diani), and Malindi. Jambojet will offer an extra 23% seat capacity to the coastal destinations [...]Newly launched Bidco Industrial park creates 1000 direct jobs
President Uhuru Kenyatta on July 25th led in the launch of Bidco Industrial Park in Ruiru, Kiambu County. He described the project as part of ongoing government efforts to expand [...]
