Safaricom Introduces Mali, a new Investment Tool Powered by MPesa
The region's most profitable company Safaricom is introducing an investment tool dubbed Mali, which will allow MPesa users to invest as little as 100 for daily interest. Mpesa users will [...]
Police Sacco Gets Stable Credit Rating
Kenya Police Sacco Society Limited has been given a stable outlook by Global Credit Rating (GCR). The rating agency attributes the favourable ranking to the Society’s strong capital position, solid [...]Five African Exchanges Partner to Deepen Their Financial Markets
Kenya, Nigeria, Egypt, Morocco, and Mauritius have signed an agreement to form the African Stockbrokers, and Securities Dealers Association (ASSDA). The association will enable cross-border trading in Africa. The members [...]Scope Markets Officially Launches in Kenya
Scope Markets (SCFM), a licenced non-dealing online foreign exchange broker, has officially launched in Kenya. The company has been operating in Kenya since May 2019 says it has already garnered [...]
IMF Sets New Conditions For Kenya's Precautionary Loan Facility
The International Monetary Fund (IMF) has disclosed new conditions for Kenya to access the $1.5 billion precautionary loan facility. In this case, East Africa's largest economy will have to conform [...]Media firm Standard Group Issues Profit Warning
Standard Media Group has issued a profit warning saying that that profits will dip by at least 25 per cent for the year ending 31 December 2019. In this case, [...]Kenya Shilling Weakens Amid Rise in Dollar Demand
The Kenya Shilling weakened marginally against major international and regional currencies during the week ending November 28 following increased corporate demand for foreign currency. Figures from the Central Bank of Kenya (CBK) indicate that [...]
High Food Prices Push November Inflation Rate to 5.6 %
Overall cost of living increased to 5.6 percent in November from 4.95 percent in October, largely due to increased food prices. Other items on the consumer basket that experienced increased [...]Macharia Irungu Appointed KPC Managing Director
Petroleum and Mining CS John Munyes has appointed Dr. Macharia Irungu as the new Managing Director at Kenya Pipeline Company (KPC). Until his appointment, Dr, Macharia was the Managing Director of [...]CBK Issues Treasury Bills Worth KSh 24 billion Afresh
The Central Bank of Kenya (CBK) has tendered a new batch of Treasury Bills in an auction that is seeking KSh 24 billion. “The actual amount to be realized from [...]KenGen Delays Release of Financial Results
Kenya Electricity Generating Company (KenGen) has announced a further delay in the release of audited financial results. State corporations are required to publish their audited financial results within 3 months [...]Citigroup Appoints New Head for Sub Sahara Africa
Citigroup has appointed Akin Dawodu as head of its Sub-Sahara Africa business. The group said, Dawodu will drive Citigroup's business in the 11 regional countries and 21 non-presence countries in [...]
