Kenya’s Private Sector posted sharp growth in May
Last month, firms in the private sector experienced growth across different segments. A report by Stanbic Bank shows that the Purchasing Managers Index jumped from 49.3 in April to 51.3 [...]
Azuri Tech Secures $26 Million Equity Investment From Japan's Marubeni Corp
Pay-as-you-go solar solutions firm Azuri Technologies has raised $26 million including an equity investment from Japan’s Marubeni Corporation with additional participation from existing shareholders, including IP Group plc. Simon Bransfield-Garth, [...]
Senior Safaricom staff charged with theft unlawfully sharing customer data
The Head of Regional Expansion – Mobile Money Segment at Safaricom was recently charged in court with unlawfully copying and sharing private subscriber information with unauthorized persons. Brian Wamatu was [...]Express Kenya Investors agree to convert KSh80 million debt into equity
Shareholders of Express Kenya unanimously agreed to convert KSh80 million debt owed by the firm into equity. The company involved in Transport and Logistics, Clearing and Forwarding, Warehousing, and Real [...]Bamburi Cement Director resigns one year after appointment
Nicolas George has resigned from the board of Bamburi Cement one year after his appointment. He joined the board in March 2018 for a three-year term. Nicholas also served as [...]Kenyan Gov’t to Spend Sh 15 Billion in the Rollout of New Currency
Central Bank of Kenya (CBK) Governor Patrick Njoroge has said that the rollout of the new generation currency will cost the Government approximately spend Sh15 billion, an exercise that is [...]Citi Issues Buy Rating for Absa, as split from Barclays PLC 69% Done
The separation of Absa Group from the UK-based Barclays PLC is well on course. Absa Group is a banking institution based in South Africa and with subsidiaries across Africa. The [...]Nairobi County Launches New Revenue System After Terminating JamboPay's Contract
Nairobi County has terminated the contract of JamboPay which has been collecting revenue for the county for more than five years. City hall accused the company of not collaborating and [...]High Court Declines to Suspend Planned Acquisition of NBK by KCB Group
The takeover of National Bank of Kenya by the Kenya Commercial Bank Group remains in force after the High Court declined to issue conservatory order to suspend the deal. In [...]Regulator clears Kestrel Capital Founder of any liability in the Kenol Kobil Insider Trading case
The Capital Markets Authority has completed the second phase of the investigations into the Kenol Kobil insider trading scandal. Since the investigations began, the markets regulator says it has recovered [...]Kenyan digital lenders form lobby group ahead of planned regulation
In a move to engage the regulators ahead of planned regulation, Kenyan digital lenders have formed a lobby group, the Digital Lenders Association of Kenya (DLAK) consisting of 12 members. [...]Tanzania suspends conversion of Kenyan Currency in their banking sector
The Bank of Tanzania has suspended the exchange of Kenyan shillings in their banking system. The move follows Kenya’s decision to fight illicit financial deals by demonetizing the KSh1,000 bank [...]
