KCB Group #ticker:KCB has completed the acquisition of Rwandese lender Banque Populaire du Rwanda (BPR) from London-listed financial services firm Atlas Mara Limited. KCB Group chief executive Joshua Oigara said the lender has secured regulatory approvals in Kenya and Rwanda for the deal which makes KCB Group the majority shareholder in BPR. The lender says […]
Equity Group CEO James Mwangi. PHOTO | FILE | NMG Equity Group Holdings will resume dividend payments to shareholders after a two-year freeze following a 98 percent growth in net profit during the first six months to June. The regional bank, which is bullish of a sustained profit trajectory, has also diversified into new lines […]
Kenya’s Capital Markets Authority (CMA) has summoned directors of Britam Holdings Ltd to establish their role in the alleged irregular sale of 452.5 million shares (23.34 percent stake) owned by the Mauritian government to Kenyan tycoon Peter Munga, the former chairman of Equity Bank, five years ago. According to the regulator, the regional insurer which […]
In 2004, the late Naushad Merali purchased 60 percent ownership of Bharti Airtel Kenya from the then-largest shareholder, Vivendi, for $230 million (Ksh18.2 billion). An hour later, he sold the shares to Celtel, making a $20 million profit (Ksh1.6 billion according to the then prevailing exchange rate of Ksh79.2 per US Dollar). Fast forward to […]
Mr Peter Munga. FILE PHOTO | NMG The Capital Markets Authority (CMA) has launched an inquiry into billionaire businessman Peter Munga’s Sh7.1 billion purchase of 452.5 million shares of Britam Holdings from the government of Mauritius. The markets regulator has met Britam officials for talks to review details of the deal that left the island […]
Top Kenyan executives smiled all the way to the bank in 2020 after they received KSh1.84 billion in perks However, this was a drop from KSh 1.91 billion earned in 2020 Co-op Bank boss Gideon Muriuki was the highest-paid executive in 2020, taking home a total of KSh 377.3 million Despite the COVID-19 pandemic ravaging […]
James Mwangi, Equity Group Holdings managing director and CEO, with head of financial and regulatory reporting Mary Nteere during the announcement of the regional bank’s half-year results in Nairobi on August 17. Picture: File Equity Bank was the highest earner having made a profit of Ksh8.8 billion ($80.73 million), bringing its total net profit to […]
[ Courtesy ] The court has ordered Dyer and Blair Investment Bank to sell shares belonging to suspects in a Sh1 billion air ticket fraud. After the sale of shares, High Court Judge David Majanja ordered that the proceeds be transferred to Mercantile Insurance Company which is said to have lost Sh1 billion through the […]
Safaricom, which started its operations in 2000, has grown from a subscriber base of 26,000 people in 2001 to about 40 million subscribers currently. PHOTO | FILE | NMG Kenyan companies dominated East African and Mauritius most valuable brands in the three months to June 30, with Safaricom being the highest prized brand in the […]
19th August, 2021: Loylogic , a leading global innovator in loyalty and points commerce experiences, has partnered with Equity Bank Kenya to revamp their Membership Rewards experience for American Express Green and Gold cardholders. Utilising Loylogic’s award-winning e-commerce platform, Pointshub, Equity Bank American Express Card holders can now redeem their Membership Reward points through a […]
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