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 [...]Sanlam Share Price up 11% After First Profit in 5 years
Sanlam’s share price jumped 11.4% on Thursday after reporting an increase in net profit to KSh 1.05 billion in 2024 from a loss of KSh 126.6 million in 2023. “The [...]State-Owned Kenya Pipeline Posts 32% Profit Rise to KES 10 Billion Ahead of Planned IPO
The Kenya Pipeline Company (KPC) has announced a KES 10 billion profit before tax for the financial year ending 30th June 2024, a 32% increase from the KES 7.6 billion [...]KCB Group Profits Surge 65% to KSh 61.8 Bn in 2024
KCB Group has registered KSh 61.8 billion net profit in 2024, a 64.9% jump from KSh 37.5 billion in 2023 driven by an increase in revenue. However, total operating expenses increased [...]MTN Uganda Under Sylvia Mulinge: Earnings Surge, Dividends Rise, Stock Gains 85%
Last week, MTN Uganda posted impressive financial results for the full year 2024, marked by strong growth in service revenue, higher earnings per share, and a substantial dividend increase. MTN [...]Kenya Dominates East Africa’s Private Capital Deals in January
East Africa's private capital markets began 2025 with 13 transactions with a total value of US$38.7 million in disclosed deals, according to the IM Burbidge's East Africa Financial Review for [...]Banks Push for Common Reference Rate for Loan Pricing
Kenya’s banking sector is pushing for an overhaul of the existing risk based pricing model to a common reference rate, arguing that the current framework has made it hard to [...]Kenya’s Private Sector Activity Expands for Fifth Month-Stanbic PMI
Kenya's private sector saw slight improvement in business conditions in February, marking its fifth consecutive month of expansion, the latest Stanbic Purchasing Manager Index (PMI) shows. “We reiterate that businesses [...]Stanbic Declares Record Dividend as Profits Hit KSh 13.7bn
Stanbic Holdings shares rallied to KSh 167.25 on Wednesday from KSh 157.75 after the lender reported it had registered a 12.8% growth in net profit. “We deliberately shielded our customers [...]
