Car General Posts Net loss of KSh 274 million on Forex Losses
Car General Kenya Plc, a listed dealer in power generation, automotive, construction and industrial engineering products in East Africa, has posted a net loss of KSh 274 million in [...]
Liberty Kenya Holdings Plc Posts Net Profit of KSh 671.9 Million
Liberty Kenya Group recorded net earnings of KSh 671.9 Million for the financial year ended 31st December 2023 compared to KSh 267.7 Million over the same period in 2022. Liberty [...]Tanzania Hikes Interest Rate to 6 Percent
The Bank of Tanzania (BoT) has raised its central bank rate (CBR) from 5.5 percent to 6 percent, a move its central bank said is aimed at containing the lingering [...]
East African Cables Sells Majority Stake in Tanzanian Unit
East African Cables PLC has sold a 51% stake in its Tanzanian subsidiary to Msufini (T) Limited as it embarks on a turnaround strategy. In mid-2023, EA Cables obtained a [...]
NCBA Group Plc to Issue a Fat KSh 471.8 Million Dividend Cheque to Shareholders
NCBA Group has declared an interim dividend of KSh 1.75 per share, or payment of a total of KSh 471.8 Million to its shareholders, making it the second listed lender [...]ATIDI Insures EUR 300 Million Loan for Tanzania’s Projects
African Trade and Investment Development Insurance(ATIDI) has insured a EUR300 million loan facility issued by Deutsche Bank AG to the Government of Tanzania.The facility will finance several infrastructure projects included [...]EABL Records a 21% fall in Net Profit to KSh 12 B as Taxes Bite Hard
East African Breweries Limited(EABL) posted a 21% decline in its net profit for the full year ended 30th June 2023 to KSh 12.32 billion. The listed brewer also cut is [...]Relief for Tanzania as Fuel Prices Decline Further
The national regulator, the Energy and Water Utilities Regulatory Authority (Ewura), has announcedthe wholesale and retail prices of petrol and diesel have been reduced in Tanzania this month. According to [...]
US Firm Titan Lithium Expands Operations in Tanzania, Finds Lithium Deposits with High Grades near Mt Kilimanjaro
Titan Lithium Inc, a US-based company, plans to expand its operations in Tanzania following the discovery of lithium deposits in the region. The company has found lithium deposits in two [...]Taifa Gas Gets Nod to Set up cooking Gas Plant in Kenya
The Energy and Petroleum Regulatory Authority (EPRA) has granted Taifa Gas the licence to set up a cooking gas plant and storage facilities at the Mombasa port, avoiding a potential trade [...]Tanzania Banks Generate a Profit of sh 1.16 Trillion in 2022 on New Govt Policies
Tanzania's commercial banks achieved a record-breaking net profit of over Sh1.16 trillion last year, marking the first time they surpassed the Sh1 trillion mark in the country's banking history. The [...]Tanzania Diamond Export Hits a Record High of $ 63 Million
Tanzania's diamond exports hit a record of $63.1 million (Sh147.46 billion) in the 11 months to November 2022, the Bank of Tanzania has revealed, a very sharp rise from the [...]
