Safaricom Chief Executive Officer Peter Ndegwa. [Wilberforce Okwiri,Standard] Mobile phone operator Safaricom is indisputably the most profitable company in Eastern and Central Africa. No company comes close to the telco, which recently made an incursion into Ethiopia after Addis Ababa liberalised its telecommunications sector. Yet, Safaricom’s dominance does not end in the goods and services […]
National Bank of Kenya (NBK) made a Sh717.6 million net profit in the first half of the year, helped by a lower tax bill and increased income from lending and transactions. This was reversal of a Sh381.3 million net loss a year earlier. The lender, a fully-owned subsidiary of KCB Group #ticker:KCB, saw its interest […]
For close to a decade, former Lugari MP Cyrus Jirongo has been a near permanent fixture in Kenya’s courtrooms, as business dealings from his days as a powerful government bureaucrat keep resurrecting legal questions that require a judge’s determination. From civil and commercial matters to criminal cases, Mr Jirongo has had to either appear in […]
Nairobi — Twelve suspects, among them eight Kenyans, three Rwandese and a Ugandan have been sentenced to eight years imprisonment for cyber-related crimes committed in Rwanda. The group was arrested in October 2019 by the Rwandan Investigation Bureau, while trying to hack into the Equity Bank System to steal clients’ money, according to news agencies […]
According to Central Region Police Commander Larry Kieng’, the men went to the bank at about 7am am where they were ushered in by the Operations Manager and other staff/FILE NAIROBI, Kenya, July 6- Twelve suspects, among them eight Kenyans, three Rwandese and a Ugandan have been sentenced to eight years imprisonment for cyber-related crimes […]
KCB Group subsidiaries, KCB Kenya, and National Bank of Kenya (NBK) won 11 and 4 awards respectively during this year’s Think Business Awards . KCB bagged the top prizes in digital banking, product marketing and mortgage finance categories, while NBK was named first position in the special judges’ award for product innovation category. This was […]
AFRICA: Africa Tax Administration Forum revises Pillar One Proposals The African Tax Administration Forum (“ ATAF ”) has sent revised Pillar One proposals to the OECD Inclusive Framework, responding to both the Inclusive Framework Blueprint Report released for public consultation in October 2020 and the recent US proposals to revise the blueprint proposals. Elements of […]
A National Bank of Kenya branch in Nairobi. FILE PHOTO | NMG The National Bank of Kenya (NBK) has put up Mombasa tycoon Ali Punjani’s palatial Nyali home up for auction over a long-running debt which sources said is more than Sh1billion including interest and penalties. The eight bedrooms all ensuite, double-storey mansion with staff […]
KCB Group CEO Joshua Oigara (right) Chairman Andrew Kairu (centre) and Group CFO Lawrence Kimathi during the release of the full-year result. PHOTO | POOL KCB Group #ticker:KCB will spend a total of Sh6 billion to acquire two banks in Rwanda and Tanzania from London-listed Atlas Mara limited. The Nairobi Securities Exchange-listed firm had earlier […]
KCB Group has advanced the National Bank of Kenya a Sh3 billion long-term loan to help the subsidiary meet its minimum capital requirements. The Nairobi Securities Exchange-listed firm made the disclosure in its latest annual report. "In Kenya, the group injected Sh5 billion into National Bank of Kenya, the subsidiary the group acquired in 2019. […]
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