New cost cutting measures Kenyatta family owned NCBA bank closes down 14 branches as it seeks to cut down costs during Covid19 crisis NCBA, a bank owned by President Uhuru Kenyatta and his family has permanently shut down 14 branches as it seeks to cut operational costs amid the effects of the coronavirus. The company […]
Tag: XNAI_NIC
Ndegwas get Sh2.4bn in ICEA insurance sale
Mr James Ndegwa (left) and his brother Andrew Ndegwa. FILE PHOTOS | NMG ICEA Lion Insurance Holdings, which is controlled by the family of the former Central Bank of Kenya governor Philip Ndegwa, is set to raise Sh2.4 billion from the sale of a 24.1 percent stake to private equity firm Leapfrog Investments. Regulatory filings […]
Ndegwa brothers reveal Sh3.2 billion NCBA ownership
NCBA Group chairman James Ndegwa (left) and his brother Andrew Ndegwa each own a 4.16 percent personal stake in the bank with a market value of Sh1.6 billion apiece. FILE PHOTOS | NMG NCBA Group chairman James Ndegwa and his brother Andrew Ndegwa each own a 4.16 percent personal stake in the bank with a […]
NCBA closes a number of bank branches, redeploys employees
NAIROBI, KENYA: A number of NCBA branches will not be in operation early next month in a move aimed at making the bank operate better after last year’s merger. In 2019, the NIC Group merged with Commercial bank of Africa forming NCBA. The merger strengthens both institutions leveraging on their combined market share of 9.9 […]
Tanzanian companies make it to 100 most valuable firms
Chief executive officers for five Tanzanian companies that have been ranked as most valuable ones by South Africa-based African Business. They are (from top left): TBL Plc managing director Philip Redman, TCC’s Michal Bachan, NMB Bank Plc’s Ruth Zaipuna, Vodacom’s Hisham Hendi and Alfonso Velez from Tanzania Portland Cement. PHOTOS | FILES Dar es Salaam. […]
Tanzanian Companies Make It to 100 Most Valuable Firms
Dar es Salaam — Tanzania has produced two companies on the list of Africa’s 100 most valuable firms. South Africa-based African Business disclosed in a ranking of the continent’s top 250 firms that TBL Plc and Vodacom Tanzania Plc are the two most valuable firms in the country. At the continental level, TBL Plc has […]
NCBA’s three month profit up 20% to Sh1.6 billion
NCBA Bank Kenya PLC designate chairman Isaac Awuondo and group MD John Gachora The NCBA Group Plc (NCBA) net profit has grown by 20 percent to Sh1.63 billion for the quarter ended March 31, 2020. The merged entity between NIC Bank and CBA Bank reported Sh1.29 billion in profits after tax in Q1 2019. NCBA […]
NCBA Group records Ksh.2.4B pre-tax profit for quarter ending March 31
NCBA Group Managing Director, John Gachora The NCBA Group PLC (NCBA) has recorded a pre-tax profit of Ksh. 2.4billion for the quarter ending March 31, 2020. Total operating income for the quarter was Ksh. 10.9billion and profit after tax was Ksh. 1.6billion. “The year started strong with promising growth driven by the optimisms in the […]
Tanzanian companies make it to 100 most valuable firms
Chief executive officers for five Tanzanian companies that have been ranked as most valuable ones by South Africa-based African Business. They are (from top left): TBL Plc managing director Philip Redman, TCC’s Michal Bachan, NMB Bank Plc’s Ruth Zaipuna, Vodacom’s Hisham Hendi and Alfonso Velez from Tanzania Portland Cement. PHOTOS | FILES Dar es Salaam. […]
Tanzanian Companies Make It to 100 Most Valuable Firms
Dar es Salaam — Tanzania has produced two companies on the list of Africa’s 100 most valuable firms. South Africa-based African Business disclosed in a ranking of the continent’s top 250 firms that TBL Plc and Vodacom Tanzania Plc are the two most valuable firms in the country. At the continental level, TBL Plc has […]