EA Portland Cement undertakes a massive restructuring exercise
East African Portland Cement is in the process of laying off its entire workforce of roughly 800 employees in an attempt to cut operating costs. The company will then rehire [...]
Malindi International Airport to run till midnight
Malindi international airport will now operate till 12 am, a shift from the current schedule. The international airport will run from 5 am to midnight each day. The move follows [...]
Stanbic’s half year profits jump up 14 percent to KSh4 billion
Stanbic Holdings half year earnings moved from KSh3.5 billion in 2018 to KSh4 billion in 2019, a 14 percent increase. The regional lender booked a 19.5 percent growth in net [...]Higher taxes on mobile money services threatens financial inclusion, warns former CBK governor
Former Central Bank of Kenya (CBK) Governor Njuguna Ndung’u has warned that taxes imposed on mobile money services and airtime could derail the financial inclusion gains witnessed in Kenya. In [...]
Scan Group’s half year profits increase by 27 percent
Scan Group posted KSh250 million net profit in the first half of 2019, a 27 percent jump from KSh196 million net profit booked in the similar period in 2018. The [...]MPs stop KCB- National Bank acquisition
Parliamentarians have stopped KCB Group from acquiring the struggling National Bank. The lawmakers say that KCB's offer significantly undervalues the state-owned bank. “The offer given by KCB does not reflect [...]CMA's second quarter domestic performance
The Capital Markets Soundness report for the second quarter of 2019 shows that Kenya’s economy expanded by 5.6 percent in the first three months of 2019 compared to a 6.5 [...]KCB M-Pesa increases monthly interest charge to 7.5 percent
KCB Group has revised its interest charges on Mpesa mobile loans from 4.08 percent per month to 7.5 percent per month. The charge includes excise duty. The new rates took [...]EABL puts KSh22 billion toward renewable energy and water purification system
Diageo through its subsidiary, East African Breweries Limited (EABL), says it will invest KSh22 billion on solar energy, biomass power, and water recovery. The project includes an upfront investment of [...]CMA's Second quarter regional performance
CMA recently released the Capital Markets Soundness Report for the second quarter of 2019. The report notes that the trade disagreements between Kenya and Tanzania have substantially affected intra-regional trade. [...]KRA increases revenue collection but misses the target.
The Taxman report shows that revenue collection increased in the last tax year by KSh145 billion from a collection of Ksh1.435 trillion in 2017 to KSh. 1.58 trillion in 2018. [...]Home Afrika Appoints Luke Kinoti as Non-Executive Director.
Home Afrika Ltd announced the appointment of Mr Luke Kinoti as a non- executive director with effect from 24 July 2019. His appointment comes shortly after the company reported an [...]
