NIC Bank's pretax profits reach KSh3.1 billion in the first six months of 2019
NIC Bank recently released its results for the half-year that ended June 2019. The lender reported a pretax profit of Ksh 3.1 billion, a slight increase from Ksh 2.9 billion [...]
Kenol Kobil delists from the NSE
Energy Company Kenol Kobil has been delisted from the Nairobi Securities exchange after the successful acquisition by Rubis Energie S.A.S. The oil distributor was acquired at a cost of KSh36 [...]
NSE to install new trading system worth Sh 110 Million
The Nairobi Securities Exchange (NSE) is in the process of installing a new trading platform purchased from UK’s MilleniumIT for KSh110 million. NSE postulates that the new system will lead [...]
Co-operative Bank's Half Year Profit up 4% to Sh7.5 billion
Co-operative Bank Kenya has released its half-year results with net profit increasing by 4% to Ksh7.5 billion, compared to Ksh7.1 billion reported in the same period in 2018. The growth [...]Kenya Bankers to rely on innovation and affordable loans to drive growth
KenyaBankers Association has released the industry’s five-year strategic plan (2019-2023) aiming to utilize deeper innovation and affordable loans to drive growth. KBA chairman and KCB Group MD, Joshua Oigara said [...]Wangusi replaced by Mercy Wanjau at Communications Authority of Kenya
Communications Authority of Kenya has appointed Ms. Mercy Wanjau as the Acting Director-General with effect from today to replace incumbent Francis Wangusi. Until her appointment, Ms. Wanjau was CA s [...]Electricity rebates a huge relief for manufacturers
Effective Implementation of the Electricity Rebates Initiative will see manufacturers get a 30% tax relief on their electricity expenses. This will, however, apply on condition that factories increase their energy [...]Keroche directors to be arraigned in court for tax fraud allegations
On Wednesday, Noordin Haji the Director of public prosecution directed the arraignment of Tabitha Mukami Muigai and Joseph Karanja Muigai the directors of Keroche Breweries. The action was taken after [...]Kenya gets AU endorsement for UN Security Council seat
The African Union (AU) has endorsed Kenya to represent the African continent at the United Nations Security Council (UNSC) for the 2021-2022 term. Kenya garnered 37 votes against Djibouti’s 13 [...]Truworths to close some of its UK Outlets
South African retail store Truworths plans to close its loss making UK stores in the next two years. The company joins other South African firms that are downsizing their international [...]Nairobi based recycling company secures funding from DOB Equity and Global Innovation Fund
Mr Green Africa, a Nairobi based plastic recycling company and supplier of environmentally friendly material has secured funding from DOB Equity and Global Innovation Fund. The investment is expected to [...]Tullow Oil transforming lives in Turkana
When Tullow Oil started exploring oil in the Northern part of Kenya, there was uproar from the local community. The people of Turkana needed to know if there are gains [...]
