Sanlam Kenya Launches KSh 2.5 Billion Rights Issue to Fund Expansion, Repay Stanbic Loan
Listed financial services provider Sanlam Kenya Plc has announced a KSh 2.5 billion Rights Issue to strengthen its balance sheet, following a year of robust financial recovery. The capital raise comes as [...]
Private Sector Ends Q1 with Growth in New Business Deals
Many companies have reported a significant growth in new business deals in March, but new hiring remains subdued, according to the latest Stanbic Bank Kenya PMI survey. “The March Kenya PMI [...]
CDSC's Digitisation of Share Records Hits 79%
In just 18 months, Kenya has leapfrogged into the digital finance era, immobilizing 79% of all shares (81.2 billion) through CDSC's depository system a 57% surge since 2024. While giants like Safaricom and KenGen lead with 60% and 99% digital adoption respectively, stubborn paper trails remain (TotalEnergies: 89% physical). This silent revolution now delivers 48-hour dividends, fraud-proof trading, and positions Nairobi as Africa's next-gen financial hub, with CDSC racing to convert the final 21.4 billion paper shares.Foreign Investors Flock to Kenya's Stock Market Despite Global Markets Rout Over Tariffs
The global financial markets are reeling from the impact of steep and sweeping tariffs imposed by U.S. President Donald Trump on April 2nd, sparking a widespread sell-off in equities. Impact [...]
Jubilee Holdings Reports Record KSh 6.2 Billion Net Profit in 2024, Dividend up 12.5%
Jubilee Holdings has announced a historic Profit Before Tax (PBT) of KSh 6.2 billion for 2024, a significant increase from KSh 2.8 billion in 2023. Key Financial Highlights Metric 2024 2023 [...]KCB Group Overtakes Safaricom as Kenya’s Most Profitable Corporate
KCB Group has made history by overtaking Safaricom as Kenya’s most profitable corporate entity in group terms, posting a record profit after tax (PAT) of Ksh 61.8 billion in 2024. While Safaricom Kenya remains the most profitable company with Ksh 82.6 billion in PAT, losses from its Ethiopian operations dragged the group’s overall profit down to Ksh 42.7 billion. KCB’s strong performance was fueled by surging net interest income and higher operating income, marking a major shift in Kenya’s corporate profitability rankings. Is this the beginning of a new era in Kenya’s business landscape?Kenyan Banks' Assets Fall by KSh 335bn, First Decline in Decades
In 2024, Kenya’s banking sector faced its first asset decline in decades, as KCB and NCBA led a KES 335 billion drop. This shift marks a significant turning point, influenced by high interest rates, inflation, and a tightening monetary policy. Discover how this downturn is reshaping the banking landscape and what the future holds.Umeme Disputes Buyout, Trading Suspended on NSE, USE
The Nairobi Securities Exchange (NSE) and the Uganda Securities Exchange (USE) have temporarily suspended trading of Umeme Limited shares following the buyout of the company's operations by the Ugandan government. [...]Ethiopia to Hold Foreign Exchange Auctions Every Two Weeks
The National Bank of Ethiopia will begin regular foreign exchange auctions, starting with a US$50 million auction on April 1st. Since the launch of a comprehensive program of macroeconomic reforms [...]
Carbacid Takeover Bid for BOC Kenya Collapses
The long-delayed takeover bid for BOC Kenya has officially lapsed, marking the end of an acquisition attempt that had been embroiled in regulatory proceedings and strategic reconsiderations. BOC Kenya, a [...]HF Group Earnings Surge Amid Pivot into a Fully Fledged Bank
HF Group has reported a 35% increase in net profit for the full year 2024 to KES 525 million, up from KES 388 million in FY2023. Financial Highlights Insights HF [...]One Fraud is Too Many James Mwangi Says as Equity Group Turns to AI to Fight Fraud
Equity Group has deployed artificial intelligence (AI) to help fight fraud in addition to its engagements with the Communications Authority and the DCI, MD and CEO Dr. James Mwangi said [...]
