Kenyan billionaire investor John Kibunga Kimani. In 2018, Billionaire investor at the Nairobi Stock Exchange (NSE), John Kibunga Kimani, set up a foundation valued at Ksh93 million to give back to Kakuzi squatters, a society he spent his childhood in. At the time, Kibunga explained that he wanted to empower the community and dedicated his […]
British American Tobacco (BAT) office in Nairobi. British American Tobacco (BAT) Kenya has proposed to pay its shareholders a dividend of Ksh50 ($0.44) per share after its net profit surged by 18 percent for the year ended December 31, 2021. PHOTO | FILE Net profit increased to Ksh6.48 billion ($57.34 million) from Ksh5.51 billion ($48.76 […]
Absa Bank Kenya #ticker:ABSA has joined small lenders to offer the cheapest personal loans, breaking ranks with other big banks that have continued to issue relatively expensive credit facilities. An Absa customer taking a Sh1 million, one-year personal unsecured loan today will incur a total credit cost of Sh71,807. That is the same as the […]
American water solutions provider Xylem has set up an office in Nairobi with eyes on state and commercial projects in East Africa. Nairobi is the second hub after Johannesburg, South Africa, in the continent, with plans to set up others in Egypt and Morrocco. Xylem said the local office will support its projects in Tanzania, […]
African electricity data transparency is rather limited and low quality While data on Africa’s electricity systems is improving as new or updated national data sources are developed, Ember’s African Electricity Data Transparency report shows current data is limited. The independent climate and energy think tank put together the transparency report as a reference guide of […]
Business leaders representing the diverse resources throughout the continent of Africa gathered Wednesday morning to discuss the rapidly growing economies, global partnerships, and technological progress throughout Africa’s 54 countries. The forum, Northeastern’s inaugural African Business Conference, comes as the continent is set to emerge as a global economic force, according to the World Bank . […]
New KCC has initiated talks with the Azim Milk Company of Oman in a deal that would see Kenya’s milk export increase by Sh100 million per annum. The deal is to supply lactose-free milk to Oman for an initial five years. Kenyan exports to United Arab Emirates (UAE) are worth Sh34.1 billion ($300 million) while […]
Centum Investment Company #ticker:CTUM has been spared from compensating the buyer of its Coca-Cola bottling businesses Sh3.7 billion after the Supreme Court stopped the Kenya Revenue Authority (KRA) from demanding the billions. The company in 2019, sold its 27.6 percent stake in Nairobi Bottlers and 53.9 percent interest in Almasi Beverages — the owner of […]
Kenya Power staff repairing the Loyangalani-Suswa power-line, December 2021. [Antony Gitonga, Standard] Kenya Power wants to let go of 1,962 workers in what the utility firm says is meant to manage staff costs, which have “increased to unsustainable levels.” But a look at its financial books shows the move is not a magic wand to […]
Subscription video-on-demand service Showmax has partnered with Safaricom #ticker:SCOM to offer a mobile plan as it targets to attract more customers. The firm, a subsidiary of MultiChoice, said the deal allows subscribers to watch their favourite shows for two months for the price of one using free Safaricom data. A subscriber will pay Sh389 for […]
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