Mobile money Acquiring a mobile phone and opening a bank account are two significant but separate events for many Nigerians. However, if Mobile Network Operators (MNOs) in the country successfully launch banking operations as planned, acquiring a mobile phone could mean owning a bank account without needing traditional banks. “Banking in Nigeria remains an attractive […]
Category: Nairobi Stock Exchange
Flying Kenya Airways out of bumpy financial clouds
As Kenya Airways prepares for another round of state bailouts, we sit down with the national carrier boss and discuss about when he thinks the bailouts will stop and KQ will be ready to stand on its feet. LET US TALK ABOUT THE NEW ROUND OF BAILOUTS WHEN WILL KQ STOP REQUIRING BAILOUT? From 2020, […]
US flags Kenya for relaxing dirty cash reporting rule
Kenyan officials handling money-laundering investigation files are tipping account holders of suspicious transactions to move their assets before raids, hampering the fight against money launderers. A new US report tracking the global money-laundering hotspots also says Kenya appears to have taken a step back in the fight after last year it lifted the threshold of […]
KenGen earns interest by investing loan funds
KenGen #ticker:KEGN is earning substantial interest income from money it would have used to pay banks after the power producer got loan repayment moratoriums in the wake of the Covid-19 pandemic. The company said its finance income rose by Sh180 million or 22 percent to Sh1.009 billion in the six months to December 2021 on […]
NSE gold fund hits Sh92m trade on flight to safety
Investors purchased gold-backed exchange traded fund (ETF) worth Sh91.7 million on Wednesday as they moved to hedge against volatility in global markets. They shifted 44,200 units of the Absa New Gold ETF at an average price of Sh2,075, realising the highest traded volume and value in a single day on the counter since the units […]
23-year old scoops Kshs. 1M for designing KBL’s new logo
Anncatherine Njuhi has pocketed Kshs. 1 million for designing Kenya Breweries Limited’s (KBL) next-generation logo. The logo by the 23-year old Njuhi who is a former student at the Buruburu Institute of Fine Arts was chosen the best among 600 designs by youth aged between 21-25 years in the KBL Still Got Skillz competition. Besides […]
KenGen posts Sh5.12bn half-year profit
NAIROBI, Kenya March 1-Electricity generating company KenGen reported a Sh5.12billion net profit for the half-year ended December 2021 up from Sh5.05billion reported in the same period in 2020. The slow growth in profits was attributed to increased expenses with operating costs rising to Sh14.1 billion from Sh13.1 billion. The increased expenses were owed to increased […]
IMF, Moody’s warn Russia-Ukraine conflict will impact economies
•The impact of the conflict was last week felt at the Nairobi Securities Exchange as investors lost Sh93 billion in paper wealth within a day. •An increase in global oil prices will impact consumers in the country, as Kenya remains an importer of refined products. Ukraine tourists arrive in Mombasa for holiday last year/ The […]
Election crystal ball that is splitting investors
Campaign podiums are loud but investors are struggling to understand what kind of policies the political parties and contestants are talking about. Investors are looking into the investment crystal ball. But many are only seeing what they don’t want to see: August general elections. They have been in this game of wait-and-see since Covid-19 struck […]
Pension sector outlook positive despite election uncertainties
Kenya has made progress in instituting policies that crowd-in private sector engagement, particularly within the affordable housing pillar. Kenya’s real Gross Domestic Product (GDP) growth has a history of slackening during election years. During this period, fund managers and individuals put investment decisions on hold pending a return to normalcy in the political scene. The […]