East Africa records best economic performance in the continent, AfDB outlook
The African Development Bank has expanded its flagship publication, the African Economic Outlook, with five regional reports. East Africa East Africa, with thirteen countries, recorded the continent’s best economic performance [...]
35% of Adult Kenyan Phone owners Borrow Digitally FSD Survey
Financial Sector Deepening (FSD) Kenya conducted a study on the digital credit revolution in Kenya in partnership with CBK, KNBS, and Consultative Group to Assist the Poor (CGAP). The study [...]
World Blockchain Summit Held In Nairobi Last Week Sets Pace for Blockchain Adoption in Africa
A two-day blockchain summit was held in Nairobi last week by Trescon, a business events and consulting firm. The event attracted blockchain start-ups, blockchain-based banks, financial institutions, researchers, government institutions, and [...]Britam Reports 80% decline in profit before tax, declares 17% increase in dividends
After issuing a profit warning in January this year, Britam holdings has reported a massive 79.5% decline in full year 2017 profit before tax of Sh 865.5 Million compared to Sh 4.2 [...]Equity Bank Reports 14% growth in Full Year Net Earnings
Despite a challenging operating environment in 2017, Equity Bank has reported a 14% growth in Profit After Tax to Ksh 18.9 Billion up from Ksh 16.6 Billion in 2016. The [...]NIC Bank net earnings drop 4.3%, Issues Bonus Shares
NIC Bank Kenya, whose full name is National Industrial Credit Bank, has reported its full year 2017 financial results. Key Highlights Pre-tax profit declined by 9% to Sh 5.6 Billion while [...]A closer look at Barclays Kenya's new 5-Year Strategy
Banks are part of the core elements of any modern economy. With the rapid evolution of the modern financial ecosystem, it is fundamental that banks strategize timely and effectively to [...]Kenya Airways reports Sh 6.1 Billion Loss, blames fuel costs pro-longed elections
Kenya Airways has released a performance report for the nine month period from 1 April 2017 to 31 December following a board resolution to change the airline's year end from [...]Kenya finally approves regulations to allow use of Drones
The Kenyan Government has finally approved regulations providing for the use of all kinds of drones. In a notice headlined Drones are Now Legal, the Kenya Civil Aviation Authority, says [...]CBA launches Operations in Rwanda after acquiring Crane Bank
Kenya’s largest privately owned bank, Commercial Bank of Africa (CBA) has officially started its banking operations in Rwanda following the successful acquisition of Crane Bank Rwanda Ltd, now re-launched as [...]Limuru Tea PLC's Revenue Decline By 23 Percent to Sh80M In FY17
Limuru Tea PLC has reported a revenue decline of 23 percent to Sh80 million compared to 104 million in 2016. “This was attributed to the drop in the sales volumes [...]M-Kopa Solar Receives $10 Million Investment After Sacking 150 Employees
M-Kopa Solar has received a $10 million investment from FinDev Canada. The investment comes after the company completed a restructuring exercise that saw staff count reduce by 18% from 1000 [...]
