South Africa’s largest short-term insurer, Santam, has reported that it paid out a record R24.5-billion for the year to December 2021, including catastrophe claims from large-scale fires, weather events that significantly affected agriculture, and floods in Gauteng and KwaZulu-Natal. At the same time, claims on the motor book and personal lines returned closer to pre-pandemic […]
Category: Nairobi Stock Exchange
Today in B2B: Digital Payment Adoption Aids Business Growth; FIs Want More Virtual Cards for B2B Payments
Today in B2B payments, SMBs are still struggling to get their customers to pay on time, and B2B marketplace Solv expands into Kenya. Plus, companies want more help buying and managing Software-as-a-Service (SaaS) applications. The average small and medium-sized business (SMB) receives 72 one-off or nonrecurring ad hoc payments — representing sales to buyers that […]
NBK partners with Davis & Shirtliff to offer financing for customers seeking to purchase water equipment
The National Bank of Kenya (NBK) and Davis & Shirtliff have partnered to offer sustainable credit financing to individuals, SMEs and community organizations seeking to purchase water equipment and solar systems. Under the partnership, NBK will extend credit to the customers to acquire water equipment, solar panels, solar back-ups, and solar water heaters from Davis […]
Congo-Kinshasa: DRC Removes Tax Element From Mobile Device Registry – Is the Tide Turn On Africa’s Growing Number of Mobile and Internet Taxes?
For the longest time, African Governments have seen the communications sector as the ‘golden goose’ for tax revenues. These taxes seemed to sprout up like weeds in every part of the value chain, whether it was social media or mobile money. For the growing population of ‘digital natives’, these financial burdens were the equivalent of […]
Sh322m tax bill threatens to end Keroche Breweries 25-year party
Keroche CEO Breweries Tabitha Karanja flanked with her staff addressed the press on March 4, 2022, after KRA closed down the Naivasha based company over a Sh332m tax row. [Antony Gitonga, Standard] It was founded on love and Sh500,000 as Keroche Breweries. That was in 1997, the year government lifted price ceilings on alcohol. While […]
Kenya: EABL and Tusker Kick Off 100 Years of Existence Celebrations
Nairobi — East African Breweries Plc (EABL) and its flagship brand Tusker have kicked off a year-long campaign to celebrate 100 years of existence across East Africa. Established in Ruaraka as a humble, riverside operation in 1922, EABL has transformed into the biggest manufacturing operating in the region, positively impacting millions in its value chain […]
Bamburi Cement orders two solar power plants
Kenya: Bamburi Cement has signed a power purchase agreement (PPA) with Momnai Energy to set up two solar plants. One 14.5MW unit will be situated next to its integrated Mombasa plant and the other 5MW unit by its Nairobi grinding plant. This will account for up to approximately 40% of the cement producer’s total power […]
KQ warn of increased ticket prices if Russia-Ukraine conflict persists
A picture taken on August 1, 2020 shows Kenya Airways planes parked at the parking bay at the Jomo Kenyatta international airport in Nairobi as Kenya Airways airline resumed flights to Britain after flights had been canceled during the COVID-19 (novel coronavirus) pandemic outbreak. (Photo by SIMON MAINA/AFP via Getty Images) Travelers will be forced […]
Centum appoints new Finance director
Centum Finance director Risper Alaro Alaro rejoins Centum after being away on sabbatical leave, she takes over the role from Wambua Kimeu, who has resigned to pursue other interests after working at Centum for a total of 7 years. She established Centum Business Solutions Ltd and served as its first Managing Director from 2014, leading […]
Jubilee Holdings buys additional 10% in SEACOM
Nizar Juma Chairman Jubilee Holdings during the launch of Explorer health insurance at Serena yesterday photoKARUGA WA NJUGUNA Nairobi Securities Exchange-listed financial services firm Jubilee Holdings has acquired an additional 10 per cent stake in undersea cable service provider SEACOM. This raises Jubilee’s shareholding in SEACOM from 18.8 per cent after an initial 8.8 per […]