Nairobi — Equity Group has been named the fifth strongest banking brand in the world, according to the Brand Finance Banking 500 2022 annual report. The Group is the only new entrant among the top ten leading banking brands and has entered the arena with a Brand Strength Index (BSI) of 90.8 compared to the […]
Category: Nairobi Stock Exchange
Pension returns up 5pc on stocks gains
Zamara Group Group Chief Executive Officer Sundeep Raichura speaks at Panafric Hotel in Nairobi on October 18, 2018, during the Kenya Pension Fund Investment Consortium. PHOTO | SALATON NJAU | NMG Pension fund returns rose by five percentage points in 2021 on improved performance of equities and offshore investments, signalling higher interest earnings for savers. […]
Power restored in Kenya after nationwide blackout -Kenya Power
NAIROBI, Jan 11 (Reuters) – Power supply has been restored in all parts of Kenya, which earlier experienced a nationwide outage after a high voltage transmission line connecting the capital broke, state-controlled utility Kenya Power said on Tuesday. Kenya Power reported a blackout occurred at 0745 GMT, after towers supporting a high voltage power line […]
Sasini sheds 2,000 jobs in five years on mechanisation
Silas Njibwakale, the Managing Director of Kipkebe Ltd, a subsidiary of Sasini demonstrates how tea is plucked at one of the company’s tea estates. Agricultural firm Sasini has shed 2,182 jobs in the last five years on the back of mechanisation of its tea harvesting process, which has eliminated tea pickers. The latest disclosures show […]
Bamburi Cement signs solar power purchase agreement with MOMNAI Energy
Bamburi Cement PLC has signed a Power Purchase Agreement (PPA) with an Independent Power Producer, MOMNAI Energy Limited, to set up two Solar Plants adjacent to the company’s Mombasa Plant and Nairobi Grinding Plant. The project, which aims to save on power costs as well as contribute to Net Zero carbon emissions by switching to […]
Kenya – Low-Cost ISP Poa! Internet Bags U.S.$28 Million in Funding to Expand Its Coverage Across the Country
There is a small group of African ISPs that are doing the ‘heavy lifting’ of addressing lower income customers. poa! Internet is one of them and it has just raised US$28 million to increase its scale. Russell Southwood spoke to CEO Andy Halsall about what the company has planned and the current state of the […]
Kenya Mortgage Refinance starts selling first bond to boost home ownership
Kenya’s first mortgage refinancing company is selling a 10.5 billion shilling ($93 million) medium term note, whose proceeds will be lent out to commercial banks to increase affordable home ownership, the company said on Friday. President Uhuru Kenyatta pledged to boost housing ownership levels upon re-election in 2017. He set a goal of providing 500,000 […]
KQ bailout, fuel subsidy push mini budget to $944m
Kenya has increased its budget estimates due to elections, Covid-19 expenditures and a bailout for the national carrier. PHOTO | FILE Kenya’s supplementary budget estimates presented to Parliament on Tuesday indicate fresh allocations of $231.6 million to the national carrier and other undisclosed expenditures, $217.6 million to fuel subsidy, $79.1 million to prepare for the […]
Liberty Kenya issues profit warning to shareholders
NAIROBI, Kenya, Jan 21 – Liberty Kenya Holdings Wednesday issued a profit warning for the financial results ended 31 December 2021 anticipating at least 25 percent drop in profits attributed to the impact of COVID-19 on its businesses. In a statement shared to shareholders, the insurance firm reported that it had significantly higher risk claims […]
Africa: Kenya – Low-Cost ISP Poa! Internet Bags U.S.$28 Million in Funding to Expand Its Coverage Across the Country
London — There is a small group of African ISPs that are doing the ‘heavy lifting’ of addressing lower income customers. poa! Internet is one of them and it has just raised US$28 million to increase its scale. Russell Southwood spoke to CEO Andy Halsall about what the company has planned and the current state […]