•Kenya’s capital market recorded a net foreign portfolio outflow of Sh10.3 billion in Q2, 2020 as compared to an inflow of Sh1.1 billion the corresponding quarter last year. •CMA is spearheading the implementation of a short-term capital markets recovery strategy expected to militate against existing and emerging risks. NSE chief executive Geoffrey Odundo monitors the […]
Rwanda’s leading Cement manufacturer CIMERWA has received approval from the Capital Markets Authority and the Rwanda Stock Exchange to list its shares on the local bourse on August 3rd 2020. Out of the listed shares constituting 703,219,520 shares (100%), a free float of 344,575,560 shares (49%) will be available for trading to the investor community […]
Rwanda’s leading Cement manufacturer CIMERWA has received approval from the Capital Markets Authority and the Rwanda Stock Exchange to list its shares on the local bourse on August 3rd 2020. Out of the listed shares constituting 703,219,520 shares (100%), a free float of 344,575,560 shares (49%) will be available for trading to the investor community […]
According to Byamugisha, by December 2020, the hotels alone are expected to have lost about sh2.563Trillion ($700m) as tax revenue into the country. The European Union ambassadors aboard a boat at the Kazinga Channel, which links Lakes Edward and George after a meeting with the tourism investors at Elephant Plains Lodge in Queen Elizabeth National […]
SMEs in Kenya and Nigeria are among those to benefit from Covid-19 funding provided to banks by part of the World Bank Group. The International Finance Corporation (IFC) has contributed to the fight against Covid-19 in Africa by supporting financial institutions, particularly with a view to helping small businesses. The IFC announced last week that […]
Commercial Banks are calling on the government to lift the moratorium on listing loan defaulters with Credit Reference Bureaus (CRB). They say the move which was instituted in March this year as a measure to cushion Kenyans from the Impact of COVID-19 is stifling the credit market. Equity Bank Chief Commercial Officer Polycarp Igathe says […]
Entrepreneurial Solutions Partners (ESP) has launched the Komeza program, with Equity Bank Rwanda PLC as the financing partner, to provide financial support and technical assistance to 120 small, medium-size enterprises within Rwanda’s tourism and hospitality sector. Kigali, Rwanda — Today, Entrepreneurial Solutions Partners (ESP), in partnership with the Mastercard Foundation and Equity Bank Rwanda PLC, […]
The International Finance Corporation (IFC) has announced a a $50 million loan to Equity Bank Kenya to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients, especially those facing COVID-19 related challenges. The loan is expected to support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, […]
Equity Bank’s plans for regional expansion suffered a setback when its deal to acquire four subsidiaries of Atlas Mara collapsed in June. It began talks to acquire Atlas Mara’s subsidiaries in Rwanda, Zambia, Mozambique and Tanzania in April 2018, but was unable to reach an agreement by January this year when the deal’s terms expired. […]
Equity Bank branch in Kibera, Nairobi, on May 24, 2020. PHOTO | DENNIS ONSONGO | NMG Equity Bank Kenya has secured $50 million (Sh5 billion) loan from the private sector arm of the World Bank for onward lending to small and medium-sized firms crippled by the Covid-19 pandemic. The International Finance Corporation (IFC) loan will […]
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