KCB Bank #ticker:KCB has partnered with Tata Africa to provide vehicle financing for construction trucks amid an increasing demand pushed by government infrastructural projects. Under the deal, KCB Bank will fund up to 95 percent of the loan with a repayment period of six years for customers buying vehicle in the one year. The partnership […]
Kampala Uganda — Local lender, Orient Bank is getting a revamp, ending a nearly 30-year history in Uganda. The lender is ditching its name to I&M Bank (Uganda) following the latter’s decision to acquire a 90% shareholding in Orient Bank Ltd (OBL) from 8 miles LLP and Morka Holdings Limited, saying it is part of […]
Safaricom Chief Executive Officer, Peter Ndegwa at a past event. Kenya’s largest telecom Safaricom is expected to bounce back strongly from the Covid-19 pandemic that saw its half and end-year profits drop for the first time in 12 years. Last year, the firm reported a six per cent drop in net earnings as subscribers shifted […]
The government’s earnings from public investments surpassed the target for the year ended June 2021 by Sh3.7 billion, reflecting higher levels of dividend payouts than the National Treasury had projected. A latest exchequer report shows that income from dividends and other profit —wired by parastatals, state agencies as well as quoted and private firms where […]
Kampala Uganda — Local lender, Orient Bank is getting a revamp, ending a nearly 30-year history in Uganda. The lender is ditching its name to I&M Bank (Uganda) following the latter’s decision to acquire a 90% shareholding in Orient Bank Ltd (OBL) from 8 miles LLP and Morka Holdings Limited, saying it is part of […]
Equity Group #ticker:EQTY is open to repurchase a stake in mortgage lender HF Group, signalling a shift in its appetite to acquire rivals in the Kenyan market. Equity chief executive James Mwangi said the bank would review its interest in HF, seven years after selling its 24.7 percent stake to insurance group Britam. Britam plans […]
Businessman Julius Mwale who placed Sh27 billion bid in leasing of ailing Mumias Sugar has tapped an Indian firm running Dangote Sugar refineries in Nigeria to manage the Kenyan miller. Mr Mwale through his Tumaz and Tumaz Enterprise says it has inked a deal with J P Mukherji & Associates (JPMA) to help revive Mumias […]
East African banks remained resilient with higher Return on Equity (ROE) for the 12 months to September 30 signalling a relatively healthy performance for the regional lenders with shareholders deriving value from their investments amid the Covid-19 pandemic. FILE PHOTO | COURTESY Latest quarterly market report by analysts at AfricanFinancials Group shows that Kenyan banks […]
KBA chief executive Habil Olaka /FILE Kenyan banks are seeking a pie of the continental market by riding on the African Continental Free Trade Area(AfCFTA), sector lobby group has said. There is an already ongoing expansion of Kenyan financial institutions into the East African region and linkages with leading financial institutions in the South, West […]
Dar es Salaam. Middle-level commercial banks are increasingly taking a cautious approach to lending as they seek to raise profits while reducing Non-Performing Loans (NPLs) – and to align with the regulator’s requirements. A close look at recently-released financial statements for 13 commercial banks which have assets of between Sh100 billion and Sh900 billion indicates […]
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