A KCB bank branch at Kipande House, Nairobi. PHOTO | DENNIS ONSONGO | NMG The tax bill of listed Kenyan banks and their subsidiaries in the region rose by 58 percent in the first-half of the year, analysis showed, lifted by higher profits and removal of a special relief on corporate tax. According to an […]
A woman boards an airplane belonging to the Kenyan budget airline Jambojet, during the launch of a new flight to the Eastern DRC city of Goma, at the Jomo Kenyatta International Airport (JKIA) in Nairobi, Kenya, September 10, 2021. REUTERS/Edwin Waita NAIROBI, Sept 10 (Reuters) – Kenya’s first low-cost airline, Jambojet, started a flight service […]
A display of listed equities at the NSE. PHOTO | CITIZEN DIGITAL Foreign investors propped up the rebounding performance of the Nairobi Securities Exchange (NSE) by buying stocks worth Ksh.1.7 billion last month. According to data from Cytonn Research, this represented the second straight month of positive flows into the market after a narrow Ksh.154 […]
A proposed new turnaround strategy for Kenya Airways is awaiting approval by the Treasury even as the airline hopes for improved fortunes in the medium term. The plan submitted by UK consultancy firm Steer Group last month suggests the most viable options of revamping the airline in the face of deepening financial losses and depressed […]
Banks have cut the number of automated teller machine (ATM) to an eight-year low of 2,393 in July, according to data released by the Central Bank of Kenya(CBK). This is the lowest ATM count since July 2013 when the country had 2,377 machines, and the reduction reflects the growing popularity of agents, internet and mobile […]
KCB Bank Rwanda Kigali –KCB Group Plc (“KCB”) hereby provides an update on the strategic transaction for the acquisition of a majority stake in Banque Populaire Du Rwanda Plc (“BPR”). As previously announced in November 2020, Atlas Mara and KCB signed a definitive agreement regarding the acquisition of 62.06% of the issued share capital of […]
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When M-Pesa was launched in 2007 within a year it became widely popular. By 2010, the company had a near monopoly on the market. Even today despite the launch of rivals like Equitel, Airtel Money, Orange Money, Tangaza Pesa and MobiKash – M-Pesa still has 70% of Kenya’s 68 million mobile money accounts. And in […]
Foreign investors in August turned net buyers for the first time since January at the Nairobi Securities Exchange (NSE), indicating increased confidence in blue chips such as Safaricom and selected tier one banking stocks that have reported higher profits. NSE data shows that net foreign inflows stood at Sh1.72 billion in the month, the first […]
NCBA Group managing director John Gachora during an investor briefing of the half-year to June results on August 30, 2021. PHOTO | DIANA NGILA | NMG NCBA Group’s net earnings rose 76.9 percent in the half year ended June on increased income from lending and transactions. The bank made a net profit of Sh4.6 billion […]
KCB Group CEO Joshua Oigara. PHOTO | FILE National Bank of Kenya (NBK) plans to recover Sh5 billion tied in bad loans by end of the year and eliminate the need for fresh capital injection from its parent firm. KCB Group , which wholly owns NBK, says the loan recoveries—in form of asset sales such […]
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