East African Cables CEO Peter Arina Resigns as Half Year Loss Widens By 618%
The chief executive of East African Cables (Stock; CABL) Peter Arina is to step down after less than two years, amid widening losses for the company. The company wouldn’t comment [...]
StanChart Bank Kenya sets aside Sh10 billion for unsecured personal loans till Oct 11
(Press Release) Standard Chartered Bank Kenya (Stock; SCBK) has set aside Sh10 billion to be loaned to its retail customers through unsecured loans in 45 days. The bank’s Chief Executive [...]Jubilee Insurance Half Year pre-tax profit Hikes By 19% To Sh 2.34 Billion
Jubilee Holdings, arguably East Africa’s largest Insurance company has recorded a 19% increase in its half-year pre-tax profit to Kshs. 2.34 billion up from Kshs. 1.97 billion during the same [...]Kenya Banks' Agents Transacted a record Sh 734.2 billion in 2016
By December 2016, 18 commercial banks and 5 microfinance banks (MFBs) had contracted 53,833 and 2,068 agents, respectively, spread across the country. This was in comparison with the previous year, [...]KWFT Faulu Banks Control 82% of Microfinance market share in Kenya
There were 13 regulated microfinance banks (MFBs) as at 31st December 2016 with assets amounting to Sh 72.5 billion. There were 3 large microfinance banks with an aggregate market share of 90.0 [...]French Reinsurance firm SCOR Global Opens representative office in Kenya
French reinsurance firm SCOR is opening a new representative office focusing on non-life reinsurance in Nairobi, Kenya. Following up on an initial approval granted in April 2016, the Insurance Regulatory [...]NIC Bank to Open 8 New Branches Despite Drop in Half Year 2017 Earnings
NIC Bank Group has announced that it will focus on consumer driven credit growth after the lender reported a decline of 9.3% in pre-tax profit for the first half of [...]Mayfair Bank Joins Kenya Bankers Association
Kenya Bankers Association (KBA), the banking industry’s umbrella body and the financial sector’s lead advocacy group representing total assets in excess of Kshs. 3.7 trillion (USD 37 Billion), has announced [...]Safaricom Home Fibre reaches 30k more homes in three months
In the announcement of FY 2016/17 financial results, telco Safaricom revealed its fiber to the home offering connected 53,000 households. Since the announcement in March, the firm has managed to [...]The Unexpected cost of Borrowing from Banks what to consider
This past week, Kenya marked one year since President Kenyatta accented to the Banking amendment bill. The bill was meant to increase the accessibility to credit by reducing the total [...]KENYA’S VISION 2030 ON TRACK AFTER PEACEFUL GENERAL ELECTION
The construction industry in Kenya will continue to flourish after a successful and peaceful General Election. With the Kenya Vision 2030 as a blueprint, all current projects are set to [...]Albert Mugo Retires, KenGen Names Rebecca Miano as First Female CEO in Its History
Kenya Electricity Generating Company (Stock; KenGen) has appointed Mrs Rebecca Miano as the Acting Managing Director Chief Executive Officer following the retirement of Eng. Albert Mugo on Friday 25th [...]
