East Africa’s top retail banks are cashing in on interest income on government securities and readjustment of loan loss provisions to crawl back to profitability in the midst of the third wave of Covid-19 pandemic that is impacting banking transactions and loan books. A review of the unaudited financial statements for KCB, Equity Bank, Cooperative […]
Nairobi Securities Exchange CEO Geoffrey Odundo. PHOTO | NMG BAT Kenya , East Africa Breweries Limited (EABL) and Safaricom led five stocks whose increase in investor wealth at the Nairobi Securities Exchange (NSE) since the start of the year surpassed the remaining 50 companies. The five stocks recorded a combined gain of Sh334 billion since […]
After it was announced in Addis Ababa on the weekend that the consortium with Kenya’s giant mobile phone and money operator Safaricom had won the second licence to operate in the massive Ethiopian market, its stock price on the Nairobi Securities Exchange would go crazy on the first day of trading after the news. Its […]
Safaricom’s foray in Ethiopia marks a good run for the big Kenyan companies during the Covid-19 pandemic. PHOTO | FILE | NMG Equity, KCB, and Safaricom (especially given word in the Nairobi corporate grapevine that Safaricom is eyeing a Sudan entry), and a few other big companies in the region, are dramatically expanding the outside […]
KCB Group CEO Joshua Oigara. PHOTO | FILE | NMG KCB Group Plc recorded 1.8 percent growth in net profit for the three months period to March 31 amid the adverse effects of the Covid-19 pandemic. The regional lender, which is listed on the Nairobi Securities Exchange (NSE), increased its profit after tax (PAT) to […]
Burundi’s President Evariste Ndayishimiye is in Kenya on May 31, 2021 for a two-day visit. PHOTO | FILE | NMG Burundian President Evariste Ndayishimiye is expected in Kenya on Monday in a two-day state visit, marking the first time in nearly a decade that a Burundian leader will tour the country. A statement from State […]
KCB Group CEO and MD Joshua Oigara at a past investor briefing/ KCB Group shareholders have approved the proposal to acquire up to 100 per cent of the issued ordinary shares in Banque Populaire Du Rwanda (BPR). The lender has also received a green light to fully acquire African Banking Corporation Tanzania Limited (BancABC). The […]
Burundi President Evariste Ndayishimiye is expected in Nairobi on Monday for a two-day State visit to Nairobi. This will be the first time in nearly a decade that a Burundian leader will tour Kenya. According to organisers of Madaraka Day national fete, President Ndayishimiye will grace the occasion in the lakeside city on Tuesday, on […]
Stock Market Despite the weakening of prices of the giant cross-listed counters, the bull charging on the domestic counters was enough to lift both indices to close at the green during the week that ended on 21st May 2021. There were no block transactions during the week while zero activities were seen on TBL and […]
KCB chief executive Joshua Oigara on March 2. Photo/Enos Teche. KCB Group Plc shook off the effects of the ongoing Covid-19 pandemic to post a net profit of Sh6.4 billion in the first three months of the year to March. The two per cent increase in profitability from Sh6.3 billion a year earlier was on […]
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