IM Begins rebranding All Giro Bank branches
Local banking entity IM Bank, says it has began a rebranding exercise for all of the recently acquired Giro Commercial Bank Limited (GCBL) branches. The 7 branches acquired by IM [...]
CBK Finalizing Licenses of Two New Banks
The Central Bank of Kenya (CBK) yesterday announced it was on the final process of licensing two institutions to begin operations as a first step to lifting the moratorium on licensing [...]Kenya to present budget on March 23
Kenya's Ministry of Treasury has announced that it will present the government's budget for the fiscal year of 2017/18 (July-June) in the parliament on March 23 according to Reuters. Kenya usually [...]CBA Group Launches Banking Service Targeting Millennial Entrepreneurs
Commercial Bank of Africa (CBA Group) has launched a mobile phone-based banking service targeting millennial entrepreneurs. The new service dubbed CBA Loop, launched under the tagline Unbank Yourself, also seeks to [...]CIC Insurance Group Net Profits Tumble by 83% to Ksh 188 Million
CIC Insurance Group released its full year results for the financial year ending 31 December 2016. The bottom-line was expected to be affected after the company issued a profit warning. [...]CBK Re-Opens Two Treasury Bonds worth Sh30 Billion For Budgetary Support
The Kenyan Government through the Central Bank has re-opened two five Year Fixed Coupon Treasury Bonds worth Ksh 30 Billion for the purposes of budgetary support. The Bank said the offer [...]EABL spotted in the Markets seeking Ksh 6 Billion Debt Financing
East African Breweries Limited is seeking to offer additional notes out of its existing Kenya Shilling Eleven billion Domestic Medium Term Note Program after receiving regulatory approval on 6 March [...]Kenya Has the Fourth Fastest-Growing Ultra-Rich Population in the World
According to this Year's Wealth Report by Knight Frank, Kenya is home to the world’s fourth fastest-growing population of ultra-wealthy individuals (UHNWIs) growing at a rate of 93% in the last ten years behind [...]Johnson Johnson Opens Regional Office in Nairobi
Following the opening of its West Africa office in Ghana earlier this week, Johnson Johnson has announced the further expansion of its operations in Africa with the launch of a [...]Bamburi Cement 2016 Earnings Falters, Blames Competition
Eastern Africa's largest manufacturer of cement and cement related products, Bamburi Group, has released its financial results for the full year 2016 reflecting a flat growth in its net profit at [...]Largest Construction Company To erect Africa's Tallest Building in Nairobi
Hass Group has announced that it has signed a Sh 20 billion agreement with the world's largest Construction Company; China State Construction Engineering Corporation (CSEC), to construct the tallest building in Africa in [...]KCB Group Net Profit Unchanged, Declares 50% Increase in Dividends
Kenya's largest lender by assets, KCB Group, has reported its Full Year 2016 Results posting a 10% rise in Profit before tax to Sh 29.09 billion while net profit increased by just 1 [...]
