Four lenders selected by the Central Bank of Kenya to give low-cost mobile loans to small businesses under a programme dubbed ‘Stawi’ have abandoned the deal. The Business Daily can reveal the platform has not issued a single loan for over a year after KCB Bank #ticker:KCB , Co-operative Bank #ticker:COOP , Diamond Trust Bank […]
Tag: XUGA
Uganda Securities Exchange (XUGA)
Kenya Airways to downsize fleet – report
Kenya Airways Boeing 737-800 © Tis Meyer (PlanePics.org) Kenya Airways (KQ, Nairobi Jomo Kenyatta ) is planning to downsize its fleet to 30 aircraft, a move that may see more staff lay-offs as the flag carrier looks to cut costs, reports Kenya’s The Star newspaper. This was in line with a recovery-and turnaround plan completed […]
Kenya Airways eyes 2025 air taxi launch in UAM diversification
African national flag carrier Kenya Airways says it will continue diversifying its activity and income sources by rolling out air taxi services in 2025 – part of its efforts to develop next-generation urban air mobility (UAM) operations. Kenya Airways CEO Allan Kilavuka said the company plans on testing air taxi flights in 2025, and hopes […]
South Africa to soon start e-visa facility for Indian travellers
Reports stated that as part of post-pandemic revival plans, South Africa will soon be introducing e-visas for Indians to attract more tourists, movie makers, and business travellers. Referring to this, South African Tourism Hub He … The South African Tourism Board has recently expressed that it’s eyeing 64% year-on-year growth in arrivals from India this […]
GlobalX to buy 200 Eve air taxis, plans South Florida operations
Embraer’s Eve Urban Air Mobility spin-off has clinched a letter of intent with Miami-based Global Crossing Airlines Group to acquire up to 200 electric vertical take-off and landing (eVTOL) aircraft, with deliveries scheduled for as early as 2026. Eve disclosed the deal on 16 March, saying it now has 1,785 eVTOLs in its backlog. “We […]
Why DRC is fertile hunting ground for Kenyan firms
Kenyan firms are planning to expand into the populous Democratic Republic of the Congo (DRC) that is about to join regional trading bloc after making formal application in June 2019. The admission of DRC into six-nation East African Community (EAC), expected to be concluded this year, is projected to strengthen trade ties, expanding market for […]
Allianz purchases 51pc stake in Jubilee’s Burundi unit
Global general insurer Allianz SE has completed the purchase of a 51 percent stake in Jubilee General Insurance Limited in Burundi from the parent company Jubilee Holdings, which will retain a 19 percent stake in the business. This is the third of several similar regional transactions after the Kenyan parent firm signed an agreement in […]
Equity loans to cost up to 18.5pc after Central Bank nod
Equity Group CEO James Mwangi (C), Director Strategy Brent Malahay and Chief Commercial Officer Polycarp Igathe. [Wilberforce Okwiri, Standard] Equity Bank has received the Central Bank of Kenya (CBK) approval to charge customers a maximum of 18.5 per cent on loans under its risk-based pricing model. Group Chief Executive James Mwangi yesterday said the risk-based […]
DRC/Kenya/Rwanda: Equity Bank’s $6bn ‘Marshall Plan’ for SMEs
View of an Equity Bank branch. © Edward Echwalu for Jeune Afrique Equity Bank, which is East Africa’s largest banking group and led by James Mwangi, is planning extensive assistance to boost the private sector in its six countries of operation. Through its Regional Private Sector Economic Recovery and Resilience Stimulus Plan, Equity Group intends […]
Co-op bank full-year profits up 53% on Covid-19 recovery
Co-operative bank managing director Gideon Muriuki during the release of the Bank Q3 financial report in Nairobi. The post-Covid-19 economic recovery led to high credit demand pushing up Cooperative Bank Group’s net earnings for the year ended December 31, 2021, by 52.7 per cent. The bank’s financial results released Thursday shows it reported a profit […]