The affairs of an entity in receivership take a long time to resolve. It will be a long sunset for Crane Bank, its owners and Bank of Uganda. The Central Bank has put Governor Emmanuel Tumusiime-Mutebile on a public relations offensive to justify the closure of Crane Bank and explain away its lax regime that […]
Kampala — The acquisition of Crane Bank in January 2017 is one of the major factors why dfcu is now Uganda’s largest bank, by profitability. In its 2017 half year results, the bank revealed an after-tax profit surge of Shs114b, compared to Shs23b over the same period in 2016. In a statement issued on Tuesday, […]
Millions of people who were previously excluded from now have access to micro credit via smartphone apps. Owning a smartphone has changed Phylista Wambua’s life. The 50-year-old mother-of-two sells fresh fruits and vegetables in downtown Nairobi. With her phone she can access mobile loans via smartphone apps, which have significantly increased her income. “In January […]
Uchumi supermarket in Mombasa. Photo / JOHN CHESOLI Uchumi Supermarket is set to raise Sh3.5 billion through equity capital in the next 120 days as part of its financial recovery strategy. In a public notice issued to investors last Friday, Uchumi revealed that talks are underway with a potential investor ready to pump in Sh3.5 […]
Nakumatt Lifestyle in Nairobi.Photo Monica Mwangi The hot breath of the Russia investigation continues to get closer and closer to President Trump, with his son Donald Trump Junior caught in the crosshairs. His son-in-law Jared Kushner cannot be far behind. The dollar continues to sink and is the ”Trump” shock-absorber. I learnt that 26.9 per […]
Equity Bank and the Ministry of Agriculture have signed a Sh300 million agreement to finance farmers under phase two of the Agricultural Credit Guarantee Scheme (ACGS), in which the government provides collateral. The partnership is a risk-sharing arrangement where the government provides a guarantee fund to cushion the participating financial institutions from any proven loss […]
KCB has announced a rare interim dividend of Sh1 per share amounting to a total of Sh3 billion for the half year ended June when its net profit remained flat at Sh10.2 billion. The lender recorded lower interest income and higher operating expenses but these were offset by a cutback in interest expenses, an increase […]
KCB CEO Joshua Oigara KCB posts Sh10.26 billion half-year net profit Income from fees and commissions went up 14 per cent to Sh7.21 billion Forex income rose by three per cent to Sh2.65 billion KCB to convert its Sh2 billion debt in Kenya Airways into equity The Kenya Commercial Bank Group has weathered the storm […]
British American Tobacco is being investigated for bribing Kenyan officials, including two candidates in Tuesday’s elections. The company said UK authorities were investigating reports that it stifled anti-smoking laws and illegally acquired its rivals’ trade secrets. A whistleblower alleged that Senator Moses Wetangula and gubernatorial candidate Martha Karua were some of the beneficiaries, claiming that […]
Kenya’s Equity Bank has started closing some of its automated teller machines (ATMs) as the lender shifts customers to alternative channels in a fresh cost-cutting strategy. Equity, Kenya’s biggest bank by customer numbers, has so far closed 11 ATM lobbies, each of which had multiple cash dispensing machines. One in every five ATMs in Kenya […]
