– A confidential document leaked to the media showed KQ cancelled well over 50 flights in the month of August 2019 – The struggling flag carrier also delayed 40% of the flights since year began according to the memo – The airline recorded a KSh 7.55 billion net loss in the year ending December 2018 […]
Category: Industry
Kenya Bankers warn that interest rate cap continues to dampen profitability, and may push some to the rocks, KBA
Growth in earnings by commercial banks will soon grind to a halt under prevailing macro-economic conditions, the Kenya Bankers Association (KBA) has warned. Though a majority of lenders have continued to churn out a profit under the interest rate capping bottlenecks, KBA terms the underlying growth elements as unsustainable in the long-run. Commercial banks have […]
Kenya low cost flier Fly 540 seeks nod for domestic expansion
The budget carrier will be leasing more aircraft this year. Low-cost airline Fly 540 has applied for an air service licence from the aviation regulator to expand its domestic route offering to include Nanyuki, Meru, Amboseli, Lewa, Isiolo, Samburu and Moyale. The move, if granted, means the carrier could soon commence flights to the destinations […]
Tullow Uganda boss Jimmy Mugerwa Promoted; Transferred to London
Tullow Oil (Uganda) boss Chairman Jimmy D. Mugerwa Tullow Oil Uganda country director, Jimmy Mugerwa has been promoted and will soon travel to serve from the head office in London, UK. “He is set for a higher managerial position with more responsibilities,” said a close associate of Mugerwa on Wednesday. A Senior Executive with over […]
S.Africa announces visa waivers to Qatar, Saudi Arabia, UAE and New Zealand to boost tourism
South Africa on Thursday announced visa waivers for four countries in a bid to boost tourism amid an economic crisis and falling visitor numbers. South Africa on Thursday announced visa waivers for four countries in a bid to boost tourism amid an economic crisis and falling visitor numbers. Visitors from Qatar, Saudi Arabia, United Arab […]
Ecobank guides HNW customers on sustainable wealth creation
Ecobank Nigeria has organised a wealth-building and sustainance breakfast forum for its High Networth Individual (HNI) customers. The lender used the forum to pledge its commitment to helping its customers to sustain their family wealth, and ensure that their businesses transit from one generation to the other and have a better future for the children. […]
Kenya: Bank Takeover embroiled in political row
KCB Group’s bid to acquire Kenya’s troubled National Bank has run into strong headwinds following claims that the deal is being done in violation of the rules governing the sale of state-owned companies. Opponents of the sale say that Kenya’s National Treasury, which is handling the transaction, has not complied with the privatisation law, and […]
Tight matatu maintenance will cut road deaths
As Kenya reels under the devastating effects of road carnage, no end seems to be in sight if recent developments are anything to warn people keen on safety. Since the year began, 683 people have lost their lives to road accidents according to data released by the National Transport and Safety Authority (NTSA). This is […]
Ghana’s Banks start move to EMV (Europay, MasterCard,Visa) standard
Banks have succeeded in converting domestic cards from magnetic stripes to EMV. The EMV technology has an enhanced security system which is the preferred bank card technology globally. EMV stands for Europay, MasterCard and Visa. It’s the global standard for chip-based Debit and Credit Card transactions. It’s a joint effort between Europay, MasterCard and Visa […]
Ecobank grows 2018 Profit after Tax by 46% to $284m
Ecobank Transnational Incorporated Plc (ETI) has started reaping the benefits of new strategies it put in place to reposition the pan-African financial institution as it posted highly improved results for the 2018 financial year. ETI recorded a gross earnings of N773.338 billion for the year ended December 31, 2018, compared with N763.634 billion in 2017. […]
