Britam shareholders approve 14.3% acquisition by PE Fund AfricInvest
Britam Plc shareholders have approved the acquisition of a 14. 3 per cent stake in the company by private Equity Fund AfricInvest. AfricInvest will now inject KSh 5.7 billion to [...]
Coop Bank Kenya reports drop in Q3 Net profit by 9.5% to Ksh 9.54 Billion
Cooperative Bank of Kenya has reported its Q3 2017 numbers with profit after tax dropping by 9.5 percent to Sh 9.54 Billion compared to Sh 10.54 Billion reported in the [...]KCB Group records a 5% increase in Q3 2017 After Tax Profits
Kenya's largest lender by Assets, KCB Group, released its third quarter 2017 results that saw its profit after tax rise by 5% to KES 15.1 billion compared to the previous [...]Former Nakumatt CMO Andrew Dixon appointed New COO at Uchumi Supermarkets
Andrew Dixon, the immediate former Chief Marketing Officer (CMO) of troubled retail chain Nakumatt Suprmarkets has landed a new role at Uchumi Supermarkets, as the Chief Operating Officer (COO). Mr [...]Kenya Railways acquires rescue equipment for SGR Operations
Kenya Railways has acquired a Telescopic Boom Recovery Crane to be used for recovery of failed or derailed rail vehicles on the live Standard Gauge Railway line following any accidents; [...]East African Portland Cement posts after tax loss of 1.5Bn from a profit of 4.1Bn in 2016
East African Portland Cement, a Kenyan based construction company specializing in the manufacturing and selling of cement and cement related products has released its results for the period ended 30th [...]Kenya Govt lowers 2017 GDP growth forecast to 5%
The Government has revised Kenya’s economic growth rate at between 5.0 and 5.1% this year citing effects of the drought experienced at the start of the year coupled with the [...]AfDB approves Sh 10 Billion Line of Credit to KCB Group
The African Development Bank (AfDB) has approved a US$ 100 million Line of Credit (LOC) to Kenya Commercial Bank Limited (KCB). The line of credit resources will go towards enhancing [...]Tuskys commences restocking Nakumatt Stores
Retailer Tusker Mattresses Limited (Tuskys) has confirmed plans to aid the recovery of Nakumatt Holdings through a strategic restocking programme. The programme which will be undertaken progressively, is mutually exclusive [...]Standard Group Kenya Issues Profit Warning
Nairobi Securities Exchange listed media house Standard Group has issued a profit warning for the second time in three years citing prevailing adverse market conditions in the second half of [...]UK Construction giant Mace acquires Kenyan quantity survey firm YMR
Mace, a UK-based global construction and consultancy firm has acquired a significant stake in Kenyan quantity surveying firm YMR, according to reports by real estate news platform Estate Cloud. Following the [...]Safaricom HY 2018 Results
Service revenue grew by 12.0% to Kshs 109.73bn driven predominantly by growth in active users and increased usage of non–voice services mainly M-PESA and mobile data. Non-voice service revenue accounted [...]
