East African Portland Cement board fires CEO
LISTEN TO ARTICLE The board of directors at E.A Portland Cement fired the firm’s CEO Peter Nkeri during a board meeting held on 17th May due to poor financial performance. [...]
Safaricom and Vodacom to Spend $13 million to Purchase M-Pesa's Intellectual Rights
LISTEN TO ARTICLE Safaricom’s CEO Bob Collymore has announced that the Telco is planning to acquire the intellectual property to its M-Pesa financial service platform from Britain's Vodafone at a [...]
KCB Group posts KSh5.77 billion net profit in Q1 2019
LISTEN TO ARTICLE KCB group’s net earnings in the first quarter of 2019 went up by 11 per cent from KSh5.18 billion in 2018 to KSh5.77 billion. The high profits [...]Safaricom extends CEO Bob Collymore's contract to August 2020
Safaricom CEO Bob Collymore will stay in that role for a year longer than was previously planned after the company’s board extended his contract through August 2020. The listed firm [...]
London Stock Exchange celebrates 66 Kenyan companies in Companies to Inspire Africa
The London Stock Exchange Group publishes an annual ‘Companies to Inspire Africa’ report a list of leading and high-growth potential private companies in Africa. The report aims to raise [...]Irish Stock Exchange admits Kenya's Third Eurobond
LISTEN TO ARTICLE Kenya's $2.1 Billion Eurobond has been admitted on Euronext Dublin, Ireland's main stock exchange effective 22nd May 2019. The bond, which was oversubscribed by 4.5 times, was [...]Kenya launches mortgage refinance company
LISTEN TO ARTICLE One of the requirements for a mortgage in Kenya is a monthly salary above KSh100,00. However, only 3 per cent of formal sector employees in Kenya earned [...]EU Opens World's Second Largest Embassy in Kenya
LISTEN TO ARTICLE The European Union has opened a new embassy in Kenya which is the world’s second mission serving as a gateway to Africa and as a regional hub. [...]New Proposal to Review CRB Law on data sharing
LISTEN TO ARTICLE A new proposal has been introduced in Parliament seeking to repeal the Credit Reference Bureau regulation on grounds that the practice of sharing borrowers’ information has denied [...]Coca-Cola To Maintain Majority Stake In CCBA
Coca-Cola Company has announced that it will maintain its majority stake in Coca-Cola Beverages Africa for the foreseeable future. With the change, Coca-Cola will begin presenting the financial statements of [...]Devki Group subsidiary to acquire ARM Cement for Sh5 billion
LISTEN TO ARTICLE National Cement, a subsidiary of Devki Group, plans to acquire all the Kenyan assets of the debt-laden ARM Cement Company in a transaction valued at KSh5 billion. [...]Alexander Forbes Financial Services Exits Uganda Market
LISTEN TO ARTICLE Alexander Forbes Financial Services, which provides retirement fund administration services, has stopped its current in-country operations in Uganda. Mr Dowie de Villiers, the Group's Chief Executive Officer, [...]
