Equity Bank Holdings Ltd recorded a 14 per cent decline in net profit for the three months to March 31, 2020. PHOTO | DENNIS ONSONGO | NATION MEDIA GROUP The Nairobi Securities Exchange-listed lender saw its profit after tax fall to Ksh5.28 billion ($52.8 million) from Ksh6.15 billion ($61.5 million). The management took a conservative […]
Tag: nation media group
Taxpayers to bailout KQ as it sinks into a further $130m loss, and still grounded
Aircraft operated by Kenya Airways parked at Jomo Kenyatta International Airport in Kenya’s capital Nairobi. PHOTO | FILE | NATION MEDIA GROUP Kenya Airways last year underwent a series of capital and debt restructuring that elevated taxpayers to the biggest shareholders of the financially troubled carrier. IATA also forecasts that global aviation industry will lose […]
Tanzania: Activities On Dse Remain Down Despite Turnover Rebound Stock Market
ACTIVITIES on the Dar es Salaam Stock Exchange are still dwindling as turnovers are at the lowest in the recent history of the Exchange. During the week that ended on 29th May 2020, the total weekly turnover grew more than 22 folds, thanks to an off-market transaction on the TBL counter. The total equity turnover […]
Nigeria’s Access Bank injects $9m into Rwandan subsidiary
Nigeria’s Access Bank is boosting the performance of its East African subsidiaries. PHOTO | FILE | NATION MEDIA GROUP Nigeria’s largest retail bank, Access Bank Plc, has more than doubled its investment in its Rwandan subsidiary after acquiring Kenya’s Transnational Bank four months ago. Access Bank, with more than 36 million customers across the continent, […]
South African healthcare provider lists on Kigali bourse
Stockbrokers on the floor of Rwandan Stock Exchange. South Africa’s low-cost healthcare service provider firm RH Bophelo is set to cross-list on the Rwanda Stock Exchange in June. PHOTO | FILE | NATION MEDIA GROUP South Africa’s low-cost healthcare service provider firm RH Bophelo on Monday cross-listed on the Rwanda Stock Exchange, as it plans […]
US demands probe of AfDB chief’s conduct
African Development Bank president Akinwumi Adesina. PHOTO | FILE | NATION MEDIA GROUP The US is AfDB’s second largest shareholder after Nigeria with a 6.5 per cent stake, giving it significant voting powers. Nigeria is the biggest shareholder with 9.2 per cent and has been at the forefront of pushing for Dr Adesina’s reelection. African […]
Skyrocketing costs sink KQ into Sh12.9 billion loss
Kenya Airways Chairman Michael Joseph. FILE PHOTO | NATION MEDIA GROUP ADVERTISEMENT ADVERTISEMENT The fact that the loss was reported in the year before Covid-19 pandemic grounded the aviation sector promises the airline more painful days ahead. Despite growing its revenues by double digits, the national carrier widened its losses by a staggering 71 percent […]
Uganda backs out of compulsory use of container port in Naivasha
First transshipment cargo load at Naivasha Inland Container Depot. Kenya wants all goods destined to neighbouring countries picked up in Naivasha. PHOTO | FILE | NATION MEDIA GROUP A directive, which is supposed to take effect on June 1, was agreed at a virtual meeting attended by presidents of Kenya, Uganda, Rwanda and South Sudan. […]
OIGARA: KCB Group remains resilient even in the face of a difficult period
KCB Group CEO Joshua Oigara speaks during the half year financial results announcement in Nairobi. PHOTO | FILE | NATION MEDIA GROUP The KCB Group chief executive Joshua Oigara spoke with James Anyanzwa on the bank’s post-Covid-19 plans. KCB just released financial results for quarter 1 (Q1), 2020, showing an eight per cent growth in […]
Covid-19: KCB Mvita branch closed after staffer tests positive
A KCB branch. FILE PHOTO | NATION MEDIA GROUP KCB Bank has temporarily closed its Mvita branch in Mombasa after an employee tested positive for the new coronavirus. In a press release, KCB Group CEO Joshua Oigara confirmed said the outlet was closed for three days for immediate cleaning and disinfection of the premises. All […]