Stanbic Bank Q1 2023 Profit Up 84% To Kes 3.9 Billion
Stanbic Bank has reported a profit after tax of KShs. 3.9 billion for the first quarter ended 31st March 2023. This marks an 84% increase in earnings, which the bank [...]
WPP-ScanGroup bounces back to profit with 297% increase in PAT for FY2022
WPP-ScanGroup Limited, the largest marketing and communication group in the sub-Saharan Africa region, has released its financial results for the year ending 31 December 2022. The Nairobi Securities Exchange-listed company [...]Kenya's Capital Markets Regulator Introduces Guidelines for Broker-Dealers
Kenya's capital markets regulator, the Capital Markets Authority (CMA), has released draft regulatory guidelines for stock brokers, dealers, and broker-dealers. The regulations, known as the Capital Markets (Licensing Requirements) Regulations, [...]IFC's new funding platform aims to help Africa's digital economy reach $700 billion by 2050
We recently had the opportunity to speak with Amena Arif, the IFC Country Manager for Kenya, Tanzania, Uganda, Rwanda, Burundi, Somalia, and Malawi. In her role, Ms Arif oversees all [...]
Capital Markets Fintech Group 42Markets secures $10M capital from Convergence Partners and 14 DFIs
42Markets Group, the financial and capital markets fintech investment group, has secured $10 million in growth funding from Convergence Partners, a leading private equity investor dedicated to the technology sector [...]Kenya's new Privatization Bill set to ease sale of state-owned corporations
The Kenyan Cabinet has approved the Privatization Bill 2023, a state-sponsored bill that seeks to sell Govt-owned entities to the private sector without Parliamentary approval. The cabinet approval means the [...]Diaspora Remittances Fall by 11.5% to $ 309.2 Million in February
Diaspora Remittance inflows in February 2023 totalled USD 309.2 million compared to USD 349.4 million in January, a decrease of 11.5 per cent. The cumulative inflows for the 12 months [...]High Inflation and Cash Flow Problems Lead to Sharp Decline in Kenyan Business Activity
Kenya's Purchasing Managers' Index (PMI) fell below the 50.0 no-change mark in February, indicating a decline in business conditions. The decline was driven by contractions in several key metrics, including [...]Shilling Hits New Low of KES 128.6 Against the Dollar
The Kenyan shilling hit a new low ofthe KES 128.6 mark against the US dollar, a significant drop indicating inflation and an increase in imported goods' prices. As per data [...]Treasury Cuts KQ Bailout Further by KES 1 Billion
The government has further cut budgetary support to Kenya Airways (KQ) by another KES 1 billion to KES 19 billion in the current financial year ending June through the revision [...]
Shilling Hits New Low of KES 126 Against the Dollar as Forex Reserves Drop Further
The Kenyan shilling hit a new low of KES 126 mark against the US dollar compared to KES 124.9 last week as pressure mounts on Treasury, further complicating debt servicing [...]CMA Approves Re-opening of TransCentury Plc Right Issue
The Capital Markets Authority (CMA) has approved TransCentury Plc to re-open the right issue offer period from March 20th to 31st, 2023. This allows the company to seek shareholders' approval [...]
