NAIROBI (Reuters) – Kenyan digital payments company Cellulant plans to shift its focus to small and medium enterprises with the aim of turbo-charging its merchant acquisition growth to 50,000 this year from the current rate of about 1,000, its chief executive told Reuters. Investors have been flocking into African financial technology firms due to rapid […]
Category: Nairobi Stock Exchange
Kenya Airways Downsizes Fleet, Cuts its Operational Costs
During the last few years, Kenya Airways struggled financially. One would argue that many airlines globally have found a tough going but for Kenya Airways, the fate of the airline hangs in the balance. The government — who has been writing checks to keep the airline afloat — is now demanding the carrier to restructure. […]
Kenya Airways opts for aircraft hourly lease, saves $45m
One of the biggest airlines in Africa, Kenya Airways, has saved $45 million ((Sh4.7 billion) after it changed the lease terms on its aircraft fleet, opting for hourly rates in place of fixed costs. Kenya Airways Chief Executive, Allan Kilavuka, said the airline reached a deal with lessors in 2021 to only pay when they […]
Ethiopia to drop restrictions on KCB, Equity Bank
Ethiopia on Tuesday announced plans to ease restrictions on foreign banks making investments in the country, opening the door for Kenyan lenders to set up operations in the populous nation. Ethiopian Prime Minister Abiy Ahmed said the country would open up its banking industry to foreign competition as soon as parliament passes policies permitting it. […]
USE equity turnover drops 73pc
Traders at one of the Business awareness events in 2012 in Kampala. PHOTO | FILE According to the bourse’s monthly bulletin for January, the value of shares traded declined to Ush2.05 billion from Ush7.8 billion ($2.2 million) in December last year (2021),representing a daily average turnover of about Ush103 million ($29,132.8). The volume of shares […]
Vivo extends market share as rivals falter
Vivo Energy Kenya, the retailer of Shell-branded fuel products, has extended its dominance of local petroleum sales in the year ended December as its rivals lost market share. The latest industry data from the Energy and Petroleum Regulatory Authority (Epra) shows that the oil marketer increased its market share by 0.5 percentage points to 21.7 […]
KenGen to expand capacity of Olkaria geothermal complex
The Kenya Electricity Generating Company (KenGen) is set to expand the Olkaria geothermal complex. The largest producer of this clean energy announced it is completing feasibility studies for the construction of Unit VII of the Olkaria geothermal power plant in Nakuru County and at the same time, the company is preparing for the commissioning of […]
Safaricom interim dividend jumps 41pc to Sh25.6 billion
Safaricom #ticker:SCOM is set to pay an interim dividend of Sh25.64 billion equivalent to Sh0.64 per share. The dividend will be 42.44 percent higher or Sh7.64 billion more compared to a year earlier when it paid a first-ever interim dividend of Sh18 billion equivalent to Sh0.45 per share. The telco said it will pay the […]
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[WATCH] Safaricom Highlights a Kenyan NFT Artist Getting Paid via M-PESA on Binance P2P
In an interesting twist, Safaricom, the company behind the popular and dominant M-PESA mobile payment system, has featured a Kenyan NFT artist and how they get paid for their work on Binance P2P via M-PESA. This is a new twist for a company that does not allow crypto exchanges and companies to plug into its […]
Kenya Airways signs service deal with Boeing
Kenya Airways 787 Dreamliner plane at Moi International Airport in Mombasa. FILE PHOTO | NMG Under the programme, Boeing team will take over the management of all the repairs and overhaul processes of the Kenya Airways that is a subject of state takeover. The agreement was signed on Wednesday at the 2022 MRO Middle East […]