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 [...]NCBA Posts Marginal Profit Growth, Loan Loss Provisions Down 40%
NCBA Group closed 2024 with a net profit of KSh 21.9 billion, a 1.9% increase from 2023 on the back of a reduction in loan loss provisions and a significant [...]KQ Soars to Profit as Foreign Exchange Gains Boost Earnings
Listed carrier Kenya Airways (KQ) has posted a net profit of KSh 5.4 billion for 2024, up from a KSh 22.68 billion loss in 2023, breaking a decade-long spell of [...]DTB Group Posts KSh 7.6bn in Net Profits
Diamond Trust Bank (DTB) Group has reported a 25% bump in profit before tax to KSh 11.27 billion, up from KSh 9 billion in 2023, despite a challenging economic environment [...]Kakuzi to Double Down on New Markets after KSh 167 Million Loss, Disruptions
Listed Agricultural company, Kakuzi PLC, has reported a pre-tax loss of KSh 167 million for 2024, driven by adverse weather conditions, foreign currency fluctuations, and geopolitical instability in the Middle [...]Uganda Set to Renationalise Power Distribution With Umeme Exit
The state-owned Uganda Electricity Distribution Company Ltd (UECDL) is set to take over power distribution early next week from Umeme Ltd. According to the concession terms, the company is going [...]Steady Shilling Protects Absa Bank as Bad Loans Jump to Ksh 42.5Bn
Absa Bank Kenya's net earnings have risen by 28% to Kshs. 20.9 billion, as the lender navigates shifts in borrower trends, and a rise in non-performing loans whose impact has [...]Co-op Bank's Profits Surge by 9.8% to KSh 25.5bn, Loan Book Stagnates
The Co-operative Bank of Kenya (Co-op) has reported a 9.8% increase in profit to KSh 25.5 billion in 2024 from KSh 23.2 billion in 2023. Operating expenses increased by 17.7% [...]Standard Chartered Kenya Increases Dividend by 55% as Profit Surges
Standard Chartered Bank Kenya will pay shareholders a total dividend of KSh 45 per ordinary share—55% higher than 2023—after reporting a 45% leap in net profit for 2024 to KSh [...]
