Mr Paul Russo. FILE PHOTO | NMG The transformation going on at the National Bank of Kenya is an interesting study on how to execute bank turnarounds. We must not forget that several past attempts to change the fortunes of the bank through expensive State-funded bailouts yielded zilch. So, when I met the managing director […]
Most firms are projected to continue consolidating their operations this year in a bid to strengthen their balance sheets and make a turnaround on subdued businesses activity after a period marked by capital inadequacy. Globally, mergers and acquisitions (M&A) are expected in sectors including technology, healthcare, pharmaceuticals and businesses such as food and retail. Analysts […]
Kenya Airways CEO Allan Kilavuka (File, Standard) NAIROBI, KENYA: The Kenya Airways has made Sh36.6 billion after tax loss for the financial year ending December 2020 compared to Sh12.9 billion loss in 2019. The loss is attributed to the impact of Covid-19 pandemic. The loss exceeds the amount of money allocated to six counties combined […]
Mr. Gichinga is Chief Economist at Mentoria Economics By Ken Gichinga As the prospects of an economic recovery begin to take shape, there is a deep desire among Kenyans to rebuild wealth in the new economy. For many, there is a great need to diversify beyond the traditional assets and venture into new areas. Most […]
Co-operative Bank chief executive Gideon Muriuki (left) and President Uhuru Kenyatta. FILE PHOTOS | NMG The families of Jomo Kenyatta and former Central Bank of Kenya Governor Philip Ndegwa and individual investors Baloobhai Patel and Gideon Muriuki, the Co-operative Bank chief executive, are among the top beneficiaries of the combined Sh17.1 billion dividends that Kenya’s […]
Kenya Airways CEO Allan Kilavuka (File, Standard) NAIROBI, KENYA: The Kenya Airways has made Sh36.6 billion after tax loss for the financial year ending December 2020 compared to Sh12.9 billion loss in 2019. The loss is attributed to the impact of Covid-19 pandemic. The loss exceeds the amount of money allocated to six counties combined […]
Insurance group Britam Holdings plans to sell part of its 48.2 percent stake in mortgage financier HF Group to one of the country’s big banks as part of a review of its investment portfolio. A director of Britam, which last week scrapped nine top executive positions, told Business Daily that a transaction adviser has been […]
HF Group head office in Nairobi. FILE PHOTO | NMG Insurance group Britam Holdings plans to sell part of its 48.2 percent stake in mortgage financier HF Group to one of the country’s big banks as part of a review of its investment portfolio. A director of Britam, which last week scrapped nine top executive […]
KCB Group will provide an additional capital injection of Sh3 billion to National Bank of Kenya (NBK) in the coming days, with the cash going to help the subsidiary comply with minimum capital requirements. NBK has continued to breach statutory capital levels despite receiving the initial capital support of Sh5 billion from KCB in December […]
KCB chief executive Joshua Oigara on March 2. Photo/Enos Teche. KCB Group Plc net profit for the year ended December 2020 shrunk 22 per cent to Sh19.6 billion from Sh25.2 billion a year earlier on high Covid-19 loan loss provision. Announcing the lender’s results late Wednesday, KCB Group MD Joshua Oigara said the pandemic significantly […]
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