Rate Cap Regime Stifling Kenya’s Potential To Hit Over 6% Growth
The interest rate cap regime is keeping Kenya from growing its economy at above 6 per cent, an economic research released by Renaissance Capital has indicated. Through its November update, [...]
KenolKobil Plc to Acquire 33 Service Outlets in Uganda and Rwanda
KenolKobil Plc has announced plans to acquire up to 33 retail outlets in Uganda and Rwanda. The Pan African oil marketer, in a statement, says it has agreed terms to [...]Safaricom, Western Union Partner In Global Money Transfer
Mobile service provider Safaricom has entered into an agreement with American financial services, Western Union to offer its customers global mobile money services that will see them send money for [...]South Africa Scraps Short Term Visa Requirement for Kenyans
The South African government has Scrapped Short-term Visas Requirements for Kenyans looking to visit the country for business and academia in a move that aims foster Pan-Africanism. The new arrangement [...]Dangote Confirms talks to take over struggling ARM Cement
Dangote Cement is in talks with struggling regional cement manufacturer Athi River Mining (ARM) about a takeover deal. Asked on Bloomberg TV whether they will make any acquisition ahead of Dangote [...]
Equity Bank Q3 Earnings Rise 8% to Sh 15.8Bn
Equity Bank has reported its financials for the third quarter of 2018 with net income rising by 8.1 per cent to Sh 15.8 Billion. The lender's total interest income during [...]More Than 20 State Owned Corporations Set To Go Private
More than 20 government firms are set to be privatized in an effort to raise funds for government projects. This is after the Privatization Commission approved the sale of 26 [...]Food Non-Alcoholic Drinks Index Decline as Gas and Other Fuels’ Increase
Data from the Kenya National Bureau of Statistic (KNBS) indicates that the Consumer Price Index (CPI) decreased by 0.79 per cent from 194.14 in September 2018 to 192.59 in October [...]Management Shakeup at Safaricom with New Roles Created
There’s been a management shuffle at Kenya's largest and most profitable company. Safaricom PLC has announced a major overhaul to its senior management team and some new executive roles created including [...]ERC Announces New Tariffs For Power Consumers Below 100kWh
The Energy Regulatory Commission (ERC) has announced that households consuming a maximum of 100 kilowatt-hour (kWh) would pay reduced charges of Sh10 per unit from Sh12 per Kilowatt-hour, after increasing [...]Mpesa Growth Pushes Safaricom Earnings by 20% to Sh 31.5Bn
Kenya's largest telco Safaricom has reported its half-year results for the period ended September 2018 with net profit rising by 20.2% to Sh 31.5 Billion. Total service revenue for the [...]Intercontinental Gets New Boss Before Festive Season
Nairobi based Hotel chain Intercontinental has announced the appointment of its former Resident Manager Oliver Geyer as the hotels new General Manager, following the appointment of Dieter Franke who is [...]
