Kenya: Tuskys signs merger deal to salvage struggling retailer Nakumatt after Gov’t refuses to do bailout

Nairobi — Kenya’s biggest retailer, Tuskys, has signed a merger deal to rescue struggling Nakumatt Supermarket. Though details remain scanty, Nakumatt will access stock to replenish the empty shelves from Tuskys suppliers based on the goodwill the later has with its partners. Nakumatt will also use Tuskys’ supply chain as the two retailers look into […]

Equity Bank to hold investment forum in UK

Tanzania is the cash cow for Kenyan Banks

The Tanzanian market has emerged as most favourable for subsidiaries of Kenyan banks in East Africa, accounting for 35.1 per cent of the total profits drawn from their regional presence. The latest Central Bank of Kenya Banking Surveillance Report shows that the subsidiaries in Rwanda accounted for 21.29 per cent of the total profits while […]

Kenya: Supreme Court Decision to Attract Foreign Investors to Kenya

Kenya is set to benefit from the adherence to the Supreme Court ruling that nullified the Presidential results. According to economic experts, the decision will enhance political predictability for investors boosting Kenya’s attractiveness as an investment destination. Cytonn Investments Chief Executive Edwin Dande says the decision has raised the country profile with regard to constitutionalism, […]

Britain probes BAT for bribing officials

Britain probes BAT for bribing officials

British American Tobacco is being investigated for bribing Kenyan officials, including two candidates in Tuesday’s elections. The company said UK authorities were investigating reports that it stifled anti-smoking laws and illegally acquired its rivals’ trade secrets. A whistleblower alleged that Senator Moses Wetangula and gubernatorial candidate Martha Karua were some of the beneficiaries, claiming that […]

Two in three NSE listed companies report tough times

Two in three NSE listed companies report tough times

Two in three NSE listed companies report tough times 15 firms recorded losses, 25 reported falling earnings while 26 did not declare dividends sending away investors empty-handed More by this Author 51 minutes ago Two-thirds of companies that are active on the Nairobi bourse reported losses or reduced earnings in their last financial year, a […]

Dutch banking giant works  with its government to get a stake in Equity bank

Dutch banking giant Rabobank, a leading food and agribusiness financier, has joined the list of Kenya’s Equity Bank Group shareholders. Rabobank will jointly with the Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO and Norfund, own an 11.99 per cent stake in Equity Holdings. The shareholding in Equity Holdings […]

Kenya’s interest cap continues to hurt bank profits

A law capping interest rates continues to pile pressure on Kenyan banks, with at least three banks posting a drop in earnings in the first quarter of this year. NIC Bank, Stanbic Bank and Kenya Commercial Bank (KCB) posted 3.9 percent, 9.3 percent and 1.9 percent decline in profit, with the performance attributed to the […]

Equity sweeps most awards at an industry gala

The Equity Bank Family after scooping 19 Awards out of the 24 possible entries it had submitted for the Think Business Banking Awards2017 held at Radisson Blu Hotel.  The Bank was crowned the top overall bank in Kenya. Largest lender by deposit accounts, Equity Holdings, emerged the overall winner during the annual banking awards, orgnaised […]

Kenya Breweries in social media campaign to curb drunk driving

Kenya Breweries Limited has unveiled an online campaign aimed at promoting responsible consumption of alcohol. In the campaign, the firm has partnered with taxi hailing app Uber and aims at dissuading revelers from drinking and driving. The campaign, dubbed #PartyCentralKenya, is largely targeted at the youth. It leverages heavily on use of digital media, ingeniously […]