Safaricom CEO Peter Ndegwa. PHOTO | POOL Safaricom will maintain a dividend policy of paying out 80 percent of its net profit despite committing billions of shillings to expansion into Ethiopia through a consortium. A consortium majority controlled by Safaricom pledged to invest Sh909.5 billion ($8.5 billion) in their network over the next decade, including […]
The government has suspended Bungoma’s Nzoia Sugar Company MD Wanjala Makokha for three months over corruption allegations. The suspension was announced by Lawrence Omuhaka, the CAS for Agriculture who revealed that the decision was arrived at by the state in a bid to restructure the company. Makokha has been replaced by Chrispinus Omondi who is […]
Nairobi Securities Exchange trading floor. PHOTO | NMG The value of shares traded on the Nairobi bourse yesterday hit a three-year high, buoyed by a rally in Safaricom and banking stocks that has seen investors gain Sh207.5 billion since mid-May. Nairobi Securities Exchange (NSE) data showed that the market gained for the fifth day in […]
Kenya has emerged as one of the top countries in sub-Sahara Africa in the handling of alternative finance models. This is even as consumers and businesses increasingly go online for their capital needs. A study by the University of Cambridge’s Centre for Alternative Finance indicates that the value of alternative finance in Kenya last year […]
The value of shares traded on the Nairobi bourse yesterday hit a three-year high, buoyed by a rally in Safaricom and banking stocks that has seen investors gain Sh207.5 billion since mid-May. Nairobi Securities Exchange (NSE) data showed that the market gained for the fifth day in a row to close trading at Sh2.7232 trillion—a […]
The cost of mobile digital loans will increase by a larger margin compared to ordinary bank credit. FILE PHOTO | NMG Borrowers of digital loans will bear the brunt of the 20 percent tax on fees and commissions earned on bank credit that took effect on July 1. All or a significant portion of fees […]
As of 2018, Mumias Sugar Company Limited had assets worth Sh15.7 billion while its liabilities were Sh30.1 billion. Selling all the assets of Mumias Sugar Company would not raise enough funds to settle the miller’s debts, the firm’s receiver-manager Ponangipalli Rao says. Mumias Sugar Company has been under receivership after its loss-making streak persisted. Rao […]
Banque Populaire Du Rwanda (BPR) stand in Kigali. KCB was granted approval for the acquisition of Rwanda’s BPR and African Banking Corporation Tanzania Ltd. PHOTO | FILE | NMG Kenya Commercial Bank Group’s shareholders approved a proposal to acquire up to 100 percent of issued ordinary shares in two banks in Rwanda and Tanzania. Approval […]
The Nairobi Securities Exchange (NSE) is running courtesy of 5 major stocks, with the majority of them being commercial banks. On Thursday, the NSE hit a three-year all-time high with the giant telecommunications; Safaricom leading the way. Since Mid-May, investors at the NSE have gained 207.5 billion shillings. The market has been warming up to […]
The value of shares traded on the Nairobi bourse yesterday hit a three-year high, buoyed by a rally in Safaricom and banking stocks that has seen investors gain Sh207.5 billion since mid-May. Nairobi Securities Exchange (NSE) data showed that the market gained for the fifth day in a row to close trading at Sh2.7232 trillion—a […]
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