GCR Upgrades Kenya Reinsurance Credit Ratings
The Global Credit Ratings (GCR) has upgraded the credit rating of Kenya Reinsurance Corporation (Kenya Re) under the new criteria released in May 2019. Kenya Re's Financial strength ratings were [...]
Morgan Stanley Forecast Global Growth Recovery in 2020
Morgan Stanley has recently given a global growth forecast. The firm forecasts that the global growth will recover from the first quarter of 2020 onwards. The forecast is attributed to [...]Saracen Media Group Joins Ibuka as 20th Member
The Nairobi Securities Exchange has admitted Saracen Media to the Ibuka program becoming the 20th member. Saracen Media OMD is a specialist media agency that provides media planning, buying, control [...]
Equity Group announces KSh 10.6 billion Acquisition of majority stake in Congolese Bank
Equity Group Holdings (EGH) Plc has announced it has entered into a deal to acquire a majority stake in Banque Commercial du Congo (BCDC), the second-largest bank in the Democratic [...]
IM Holdings Appoints Regional Director
IM Holdings has announced the appointment of Mr Vincent De Brouwer as the company's Regional Director. He becomes the first appointee of the newly created position that is aimed at [...]SBM Bank Kenya Q3 Earnings Dip 64% to KSh 647 Million
Mauritius-based SBM Bank Kenya has recorded a drop in its net earnings for the first nine months of this year. Its net earnings for Q3 dropped by 64 per cent [...]Buzz Afrique Becomes 19th Firm to Join NSE's Ibuka Programme
Marketing and Communications firm Buzz Afrique has joined Nairobi Securities Exchange's incubation and growth acceleration programme Ibuka. Buzz Afrique becomes the 19th company to be admitted to the programme that [...]Eaagads Reports a Loss of KSh 43.3 Million
Eaagads has released its financial results for the period ended 30th September 2019. The company's half-year revenue dropped to Ksh 14.9 million from Ksh 35.9 million recorded in the same [...]KCB Group Plc Tops the Banking Sector with KSh 19.2 Billion Net Profit
KCB Group Plc maintains its top position as the most profitable lender in Kenya. Its financials for the nine months ending September 30th, 2019 indicate that its net profits increased [...]Co-operative Bank Posts KSh10.9 Billion Profit in Nine Months
Cooperative Bank has released its financial statements for the period ended 30th September 2019. The net profit was reported to be Ksh 10.9 billion, a 6% jump from Ksh 10.3 [...]Eaagads Issues Profit Warning as Coffee Production Drops
Eaagads Company Limited has issued a profit warning for the financial year ending 31 March 2020. The company anticipates that its earnings will be lower by at least 25% of [...]Banks expect improved private sector growth after rate cap repeal
The Kenya Banker's Association (KBA), theumbrella bodyof the institutions licenced and regulatedbythe Central Bank has welcomed the repeal of the interest cap rate which the president assented to on the [...]
