Africa’s overall banking market is the second-fastest-growing of any global region, says a McKinsey & Company report. While the global banking industry is facing sluggish growth, Africa’s banking sector provides a refreshing contrast, thanks to factors such as a digital-first approach, simpler, leaner banking models and compelling price offers. This is according to a new […]
Soft drinks manufactures have appealed to the government to slash at least 5% on excise duty in order to encourage growth and investment in the sector. They said reduction in the excise tariff would free some income, allowing them to expand production and create more jobs. They said reduction in the excise tariff would free […]
Top bank owners booked billions of shillings in capital gains at the Nairobi Securities Exchange (NSE) in the past one year, defying the difficult operating environment that has been subdued by the coming into force of a law capping interest rates and the politics-driven slowdown of the economy. Latest NSE data shows that the market […]
The reduction in data is expected to drive further internet connectivity, facilitate business growth and enable communication through internet-based channels. The rate reduction, according to Wim Vanhelleputte the MTN Uganda CEO is an indication that as uptake and internet usage continues to grow, the internet rates will also continue to fall. “What we are currently […]
Kenyan Treasury secretary Henry Rotich told the Financial Times on Friday that he will review the cap on bank lending rates that has resulted in a massive fall in loans to the private sector. This is part of the contentious reforms demanded by the IMF to extend a frozen Sh153 billion ($1.5bn) emergency standby facility […]
Officials say there is need to harmonise marketing initiatives if we are to keep tourists coming again. The revelation comes as a global ratings agency warned that the government “will continue to face liquidity pressures” due to a combination of large financing needs and an increased reliance on sources of financing with less predictable costs, […]
Pic: GDC’s Olkaria steam well at Menengai, Nakuru. (NMG) Power producer KenGen and Geothermal Development Company (GDC) have clashed over steam outlook as Kenya races to grow its stock of green energy. KenGen claims its most productive well in Naivasha’s Olkaria has a capacity to produce 30 megawatts of electricity, making it the largest in […]
What do the moves by the Democratic Republic of the Congo (DRC) to boost its share of the country’s cobalt bounty have in common with the former Thai government’s attempts to control the global market for rice exports? Both are examples of dominant producers of a commodity trying to extract more wealth from that position. […]
Orient Bank has become the eighth financial institution in Uganda to offer insurance policies to their customers and the public through Bancassurance after acquiring a license from Insurance Regulatory Authority (IRA) . It joins dfcu, Barclays, NC bank, Diamond Trust bank, Stanbic, Bank of Africa and Finance Trust in this now seemingly attractive business. This […]
Foreign nations lent Kenya a total of 760 billion shillings, ($7.6bn) last year in an aggressive borrowing campaign that has raised the portfolio of the country’s foreign debt to record levels. China remains as the top lender to Kenya surpassing institutional lenders such as World Bank, International Development Funds among others with more than 1.5 […]
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