KCB Group Chief Executive Officer Joshua Oigara. PHOTO | COURTESY The deal, the bank said, will push the regional lender’s assets towards the Ksh1.5 trillion ($13.15 billion) mark in the next financial year. Chief executive Joshua Oigara told The EastAfrican that negotiations for a potential buyout are at an advanced stage and the deal should […]
Tag: XUGA
Uganda Securities Exchange (XUGA)
Bottoms up! KBL toasts to turning 100… and more
KBL Managing Director John Musunga and EABL Group CEO Jane Karuku during the launch of EABL’s centenary celebrations at the Carnivore Grounds, Nairobi. [Elvis Ogina, Standard] A century ago, the first factory-produced beer in Kenya and bottled by hand was rolled out into the market. The factory was the brainchild of the Hurst brothers – […]
KCB has turned Ksh. 3 Billion loan to National Bank into Equity
The KCB Group has converted a Sh3.45 billion long-term loan it had given to National Bank of Kenya (NBK) last year into equity. This is meant to enable NBK to meet its core capital ratios. The conversion now makes the total equity financing that KCB has put into NBK to Sh8.45 billion. This is due […]
Kenya Airways shareholders’ long wait for soft landing
Kenya Airways planes at Jomo Kenyatta International Airport (JKIA), Nairobi [Boniface Okendo, Standard] The classic investment philosophy is to invest in companies that are beaten down but with the hope that they will bounce back. That was the thinking of investors who between March 25, 1996 and April 1996 agreed to buy into Kenya Airways […]
Dividend boom is here as banks turn the corner on Covid woes
Investors and analysts, during the peak of Covid-19 infections, did not expect payouts to snap back quickly to 2019 levels. Kariuki Ngari, the chief executive of Standard Chartered Bank of Kenya, says he does not need to “hold anything in excess” like in 2020 when Covid-19 disruptions convinced him to conserve cash. At the time, […]
Uganda: Stanbic Bank Retains 22 Percent Bancassurance Market Lead in Uganda
Bancassurance contributed Shs 103.5billion to the Shs 1.1trillion Gross Written Premium (GWP) recorded by Uganda’s insurance sector in 2021 with Stanbic Bank accounting for 22 percent of that share, consolidating its position as market leader. Bancassurance is the sale of life assurance and other general insurance products through commercial banking institutions. Stanbic Bank Uganda’s bancassurance […]
Firm takes on telco giants with cheaper internet calls
Elias Mwangi, CEO, Elige Communications Limited, at his Westlands office on March 11, 2022. PHOTO | DIANA NGILA | NMG Two long-time friends who had travelled out of the country had difficulty calling each other and their families back home due to exorbitant roaming charges. Out of their frustration came an alternative telephone service that […]
KCB turns Sh3bn National Bank loan into equity
KCB Group #ticker:KCB has converted a Sh3.45 billion long-term loan it had given to National Bank of Kenya (NBK) last year into equity, helping the subsidiary meet its core capital ratios after years of default. The conversion brings the total equity financing that KCB has put into NBK to Sh8.45 billion, having put in an […]
Absa lends Sh3bn to Kwal for factory construction
Kiambu County Governor James Nyoro (left) with KWAL managing director Lina Githuka (center) during the groundbreaking for the brewer’s factory at Tatu City on February 12, 2021. PHOTO | FRANCIS NDERITU | NMG Absa Bank Kenya is lending Sh3 billion to Kenya Wines Agencies Limited (Kwal) to fund the construction of its distillery plant at […]
Fintechs as drivers of leading financial products in Kenya
There is more value in having multiple perspectives as opposed to tunnel vision. The corona epidemic has been so far the biggest disruptor of global trade and investments in the past 50 years. Corona has acted as a catalyst for world’s resilience. So hardened are we for external shocks that terror attacks, extreme weather, climate […]