Absa Group moves banking operations from the UK
The South African financial company Absa has successfully moved its operations from the UK to South Africa after its separation from Barclays UK. Absa, which owns Kenya’s Barclays bank, cut [...]
Telkom Kenya Appoints Steve Okeyo as MD for its Mobile Division
Telkom Kenya has appointed Steve Okeyo as the new Managing Director for its Mobile Division; he is replacing Amer Atwi who has left the telco after three years of service. [...]
Citi revises Safaricom stock recommendation from Buy to Neutral
Citi research has reviewed Safaricom shares to neutral and increased the target price from KSh27 to KSh28.80 based on its research findings. Citi rates Safaricom as a growth company whose [...]KCB group offers to fully acquire National Bank of Kenya
KCB group has expressed interest in acquiring 100 percent of National Bank’s shares listed at the Nairobi Securities Exchange. The acquisition is expected to occur through a share swap whereby [...]KCB Group and National Bank Shares suspended following a potential merger
The shares of KCB group and NBK have been suspended from trading at the Nairobi Securities Exchange after information on their potential merger surfaced. It is said that KCB group [...]Microsoft Launches AI for Africa Whitepaper in Kenya
Artificial Intelligence (AI) has a great potential to streamline processes in financial services, agriculture, healthcare services, and public services if the government comes up with suitable regulatory framework aided with [...]
Housing Fund Levy suspended after consumer lobby moves to court
The Employment and Labor relations court suspended the Housing Fund Levy after the Consumer protection agency, Cofek, moved to court to stop the law. On 16th April, a public notice [...]Jimnah Mbaru sells 50 million Britam shares to Swiss Re
Dyer Blair chairman Jimnah Mbaru has sold 50 million shares in Britam to Switzerland’s major reinsurance company Swiss Re through a private transaction. Although the parties did not disclose [...]CBA Group shareholders approve merger with NIC Bank
CBA Group has announced that it is on the final stage of the merger with NIC bank. The bank stated that its shareholders approved of the union with the listed [...]Kenya issues 5-year 15-year bonds worth Sh50 billion
The Kenyan government is seeking to raise KSh50 billion through the issue of two bonds; 5-year and 15 year fixed coupon treasury bonds. It is the second time the five-year [...]Nation Media Group cuts dividend by 50% as net profit slumps 22%
Nation Media Group (NMG) has halved its dividend after a sharp fall in its full-year 2018 income. The listed media firm further warned investors that its strategy to monetize its digital [...]Kenya in talks with IMF for a standby facility before 3rd Eurobond issue
The Central Bank Governor Dr. Patrick Njoroge has said Kenya is in talks with the IMF for a standby facility as the country prepares to issue its third Eurobond worth [...]
