Uganda Securities Exchange (XUGA)
South African ratings agency Global Credit Ratings (GCR) has affirmed Centum’s financial rating of A+ with a stable outlook, citing the firm’s strong capital base and healthy liquidity. The agency said although Centum’s investment portfolio carries concentration risk due to the majority of investments being located and operated within Kenya and real estate, accounting for […]
Equity Bank Tanzania’s Managing Director, Robert Kiboti and Nala’s CEO, Benjamin Fernandes said a sizable number of Tanzanians in the Diaspora, especially those in UK send back home remittances that play an increasingly important role in the country’s economy. According to World Bank figures, in 2020, Tanzania in the Diaspora remitted U$430 million being an […]
Kenya’s Health Cabinet Secretary Mutahi Kagwe. FILE PHOTO | NMG Kenya will not impose restrictions such as lockdowns following the detection of Omicron variant cases among two Kenyan travellers and a South African who entered the country last week. Health Cabinet Secretary Mutahi Kagwe said Kenya has instead rooted for vaccinating its citizens in a […]
Kenya Airways launches Nairobi-Juba-Khartoum flight. PHOTO | FILE | NMG Kenya Airways (KQ) will resume flying to Khartoum nearly two years after suspending flights to Sudan. Last Friday, KQ launched direct flights from South Sudan capital Juba to Khartoum in Sudan as it eyes Africa expansion. The national carrier said the new flight will originate […]
A Stanbic Bank branch in Mombasa. FILE PHOTO | NMG Stanbic Bank has signed a deal with Caetano Kenya to finance customers buying Hyundai and Renault brands from the motor dealer. Stanbic’s head of Consumer and High Networth Clients, Lilian Onyach, said the agreement would see customers access up to 100 percent financing for five […]
Pan-African lender Ecobank and French development financier Proparco have seized the prime assets of Mumias Sugar Company from KCB Group #ticker:KCB , setting the stage for a vicious court battle that could throw the planned leasing of the ailing miller into disarray. Ecobank filed a notice on November 29 with the Attorney-General’s office indicating it […]
For the past 10 years, Kenya’s financial services sector has been experiencing disruptions. This has been accelerated by the Covid-19 pandemic, which has forced customers who once resisted online banking to adopt digital banking apps as their new default. Trend analysis, a tool used to assess what has happened in the past, gives us an […]
More than half of loans taken through mobile phone platforms are in default in the wake of Covid-19-induced job cuts and business closures that have pushed thousands of people into a debt trap, a new survey reveals The findings of the household survey by the Central Bank of Kenya (CBK), FSD Kenya and the Kenya […]
Finance Minister, Matia Kasaija endorsed the tripartite agreement on behalf of the government. High costs involved in provision of other services such as water, roads and electricity have been cited as the main hindrances for provision of low cost housing Kampala, Uganda | THE INDEPENDENT | National Housing and Construction Company Limited, Stanbic Properties Limited, […]
About 21,394 people in Uganda have become shareholders in MTN Uganda ( USE:MTNU ) following the conclusion of the company’s Initial Public Offer (IPO). MTN Uganda was yesterday listed on the Uganda Securities Exchange (USE) having raised Shs535.9b (or $151m) from its IPO. This represents 60 percent of its target amount after it launched its […]
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