A mobile phone user makes an M-Pesa transaction. FILE PHOTO | NMG Mobile money transfer platform M-Pesa has crossed 30 million users in Kenya as traders accepting payments through Lipa na M-Pesa doubled, cementing Safaricom’s dominance in digital transactions in the country. The giant telco’s chief executive Peter Ndegwa announced Thursday that Kenya accounted for […]
Tag: XNAI_KCB
Kenya: Safaricom Crosses 30 Million Monthly Active M-Pesa Customers
Nairobi — Safaricom has today announced that M-PESA has crossed 30 million customers using the service every month in Kenya. Kenya remains M-PESA’s most active market accounting for more than 30 million of the service’s 51 million customers across Kenya, Tanzania, the Democratic Republic of Congo, Mozambique, Lesotho, Ghana and Egypt. "M-PESA’s success has been […]
Stock market drops Sh65bn in two days
The stock market shed Sh65.6 billion in investor wealth in the first two trading sessions this week, pressured by foreign investor sales that have overshadowed the expected price rally ahead of the dividend season. The NSE’s #ticker:NSE market capitalisation fell to Sh2.49 trillion on Tuesday from Sh2.56 trillion at the beginning of the trading week. […]
Eveready East Africa most expensive stock on NSE
Listed battery distributor Eveready East Africa #ticker:EVRD is the most expensive stock on the Nairobi Securities Exchange (NSE) #ticker:NSE relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares […]
Equity steps up push for return of bank to mobile transfer charges
Equity Group Managing Director and CEO Dr James Mwangi at the Equity Centre in Nairobi on Monday, October 25, 2021. PHOTO | DENNIS ONSONGO | NMG Equity Bank has asked the Central Bank of Kenya to reinstate charges on transfers of money from bank accounts to mobile money wallets. The lender’s boss, James Mwangi, says […]
Mumias: Why Treasury and receiver are uneasy with Rai group
Jaswant Rai before the National Assembly Committee on Implementation, 2018. Scepticism is growing about the true intentions of billionaire Jaswant Rai’s bid for the takeover of the assets of Mumias Sugar Company. Those opposed to Jaswant’s takeover, including the National Treasury and KCB-appointed receiver-manager Pongangipalli Rao see him as a wolf in sheep’s clothing. They […]
Competition Authority says Mumias lease award unprocedural
Sarrai Group had secured the lease for assets of Mumias Sugar Company NAIROBI, Kenya, Feb 9 – The Competition Authority of Kenya (CAK), a government agency mandated to regulate mergers and acquisitions, has termed the leasing of Mumias Sugar Company as unprocedural. The regulator rendered the opinion filed in court in a case challenging the […]
MTN Group is the biggest company in West Africa by market capitalization – here’s the Top 30 list
A worker walks past an outlet of South Africa’s MTN Group in Johannesburg, South Africa, February 23, 2016. REUTERS/Siphiwe Sibeko/File Photo The market cap of the Top 30 companies for January 2022 was US$116bn, up 4.7% in December. BUA Foods (Nigeria) and Access Bank (Nigeria) are new entrants in the Top 30, replacing Jumia Technologies […]
US flags Kenya for relaxing dirty cash reporting rule
Kenyan officials handling money-laundering investigation files are tipping account holders of suspicious transactions to move their assets before raids, hampering the fight against money launderers. A new US report tracking the global money-laundering hotspots also says Kenya appears to have taken a step back in the fight after last year it lifted the threshold of […]
‘KCB Bank Network Now Accepts Verve Cards’
KCB Bank Nosa Alekhuogie Verve and KCB Bank Uganda Limited (KCB Bank) have announced a new phase of their partnership, which will see KCB Bank become one of the first commercial banks to accept the Verve Card on its widespread and strategically distributed Point of Sale (POS) merchant network. Head of Products and Operations at […]