A digital mobile overdraft facility christened Fuliza , by Kenya’s biggest telco Safaricom Plc, is giving the country’s popular loan apps a run for their money barely three years after its launch. Fuliza allows Safaricom customers to access unsecured credit by overdrawing on M-Pesa – the telecommunication’s mobile money wallet that allows its users to […]
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 […]
NAIROBI, Kenya, Dec 13 – The Kenya Commercial Bank (KCB) Group has been ranked as the most attractive bank in Kenya supported by a strong franchise value and intrinsic value score, this is according to the Cytonn Investments Q3’2021 banking sector report. The report, themed “Banking Sector Recovers due to Improved Asset and Management Quality” […]
Kenyan Banks have been listed on Africa’s top 100 top 100 banks by tier 1 capital conducted by the Africa Business Magazine. Equity was the highest ranked Kenyan bank in the report. The bank climbed three places to position 24 following a 27% increase in its capital to Ksh. 157 billion ($1.4 billion) in the […]
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 […]
KCB Group CEO and MD Joshua Oigara interact with KCB Group Chairman Andrew Wambari Kairu and KCB Group Chief Finance Officer Lawrence Kimathi during the KCB Group half-year financial results announcement. KCB Bank recorded a growth of 131 per cent in net profits to Sh25.2 billion in the first nine months of 2021, following a […]
National Bank of Kenya (NBK) #ticker:NBK is set to be delisted from the Nairobi Securities Exchange on Thursday following its acquisition by KCB Group #ticker:KCB through a share swap. NBK’s shares had already been suspended from trading ahead of the transaction, with the delisting marking the lender’s formal exit from the bourse which will now […]
The National Stock Exchange (NSE) 55 Westlands Rd, Starehe, Nairobi National Bank of Kenya (NBK) has formally exited the Nairobi bourse following the acquisition by KCB Group in September 2019. Capital Markets Authority (CMA) said the exit will be effected on Thursday for the counter that has not been trading on the Nairobi Securities Exchange […]
Chairman Kenya Bankers Association Joshua Oigara. [File, Standard] KCB Group might have taken the wrong path to regional banking supremacy. The Tanzanian route is somewhat jinxed. The listed lender’s foray into the region might have started in Tanzania where it launched its operations away from home in 1997, but Dar es Salaam has not warmly […]
The number of registered companies in Kenya stands at over 310,000, according to the Ministry of Industrialisation Some renowned Kenyan companies such as Equity Bank, Co-operative Group and East African Breweries Ltd defied the effects of the COVID-19 pandemic to post impressive profits Safaricom retained its position as Kenya’s most profitable company in 2021 after […]
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