Regulator Approves Ramco's Bid to Solely Own Kenyan Subsidiary after Amethis' Exit
The Competition Authority of Kenya (CAK) has approved the acquisition of investment holding company Ramco Plexus by its parent company Ramco Inc. “As per the parties’ submissions, this transaction will [...]
Carbacid Profits Up 3.3% Amid Controversial BOC Kenya Buyout Bid
Liquefied carbon dioxide manufacturer Carbacid Investments has posted KSh 843.3 million in profit after tax for the full year ended in July 2024 a 3.3% increase from KSh 816.0 [...]Over 270 National Bank Staff to Lose Jobs in Merger with Access Bank
Access Bank Plc will retain at least 80 per cent of National Bank of Kenya (NBK) employees for at least one year as a condition by the Competition Authority for [...]Data Regulator Orders WPP Scangroup to Pay Former CEO KSh 1.95mn
The Office of the Data Protection Commissioner (ODPC) has ordered listed marketing and communications conglomerate WPP Scangroup to pay former CEO Bharat Thakrar Ksh 1.95 mn, in the latest in [...]
Kenya Power KenGen Stocks Soar After Record Profits, Dividends
Kenya Power and Kengen have seen their price gain 49.7% and 31.1% respectively in a single day, hours after delivering stronger than expected results for the year ended June 2024. [...]KenGen’s Profits Surge 35.5% to KES 6.8 Billion
Kenya Electricity Generating Company (KenGen) has posted strong full-year results for the financial year ending June 30, 2024, with after-tax profits rising by 35.5% to KES 6.8 billion. KenGen’s gross [...]
Fitch Upgrades Ethiopia’s Credit Rating as Addis Cuts Domestic Borrowing
Fitch Ratings has upgraded Ethiopia’s credit rating, citing easing financing pressures coupled with improved macroeconomic stability. The upgrade of Ethiopia's LTLC IDR to CCC+' from CCC- reflects easing financing pressures, [...]Kenya Power's Profits Soar Tenfold as Electricity Sales Rise by 21%
The strength of the Kenyan shilling for the most part of the year significantly reduced Kenya Power Lighting Company's (KPLC) finance costs, enabling the utility company to record a [...]Airtel Revenues Grow by 7.5% in East Africa Amid Currency Devaluations
The strength of the Kenyan shilling over the year has positively impacted Airtel Africa's growth rates and revenue in the East African market, coupled by a rising customer base in [...]HF Group to Raise KShs 6bn in Rights Issue after CMA Nod
HF Group is seeking to raise up to KSh6 billion through a rights issue after approval by the Capital Markets Authority (CMA). The group is raising capital as part of [...]Kenya’s Economy in 2024: Challenges, Policy Shifts, and Investment Opportunities
Kenya’s economy in 2024 has been a story of shifting tides: a blend of economic pressures and growth prospects, policy recalibrations, and an evolving investment landscape. While the first half [...]Africa's Financial Markets Expand in 2024 on Economic Recovery Absa Group Survey
Africa’s financial markets have expanded at the fastest pace since 2017 due to the overall recovery of economies bouncing back from global shocks, according to a survey by Absa Group. [...]
