Equity Bank and NCBA are the latest top tier banks to report double digit drops in profitability for the year ended December 2020, as lenders are hit hard by huge provisions for bad loans triggered by the Covid-19 pandemic. The two now join Absa Bank, Co-operative and KCB in the list of big banks who […]
Investors at the Equity Bank Group will walk home empty handed for the second year running after the lender withheld dividends on shrinking net earnings. The lender joined other tier top commercial banks in the country to announce a drop in 2020 year results on high loan loss provision due to Covid-19 economic pressures that […]
Dar es Salaam — The National Insurance Corporation (NIC) plans to double its market share in the next five years, thus owning the entire insurance market by over a quarter. NIC’s CEO Elirehema Doriye said this when speaking to The Citizen, whereby he highlighted the company’s goals based on the organization’s strategic plan ending in […]
In Nairobi, if you give the man selling a phone by the street corner just a minute of your time, you end up buying expensive clay. Give the person on the other end of the phone probably from Kamiti prison another minute, you still lose more money. But even in the safest space, the capital […]
As the prospects of an economic recovery begin to take shape, there is a deep desire among Kenyans to rebuild wealth in the new economy. For many, there is a great need to diversify beyond the traditional assets and venture into new areas. Most Kenyans will fondly remember with great nostalgia Safaricom’s Initial Public Offer […]
As the prospects of an economic recovery begin to take shape, there is a deep desire among Kenyans to rebuild wealth in the new economy. For many, there is a great need to diversify beyond the traditional assets and venture into new areas. Most Kenyans will fondly remember with great nostalgia Safaricom’s Initial Public Offer […]
Former Cabinet minister Simeon Nyachae. FILE PHOTO | NMG If Kenyan bank shareholders and directors were required to attend AGMs on the same day, Simeon Nyachae would have had difficulty choosing which ones to go to or skip. Mr Nyachae, who died yesterday at 88, owned stakes in Credit Bank, Prime Bank, Commercial Bank of […]
Former Cabinet minister Simeon Nyachae. FILE PHOTO | NMG If Kenyan bank shareholders and directors were required to attend AGMs on the same day, Simeon Nyachae would have had difficulty choosing which ones to go to or skip. Mr Nyachae, who died yesterday at 88, owned stakes in Credit Bank, Prime Bank, Commercial Bank of […]
Mary Mulili, Executive Director, Business Development, UBA Kenya UBA Kenya has appointed Mary Mulili, as Executive Director, Business Development, following the Central Bank of Kenya’s approval. Mulili was the immediate former General Manager, Business Development Bank of Africa, Kenya. She has nine years experience in corporate, commercial, SME, institutional, retail, public sector, trade finance and […]
(Adds details, background) NAIROBI, April 30 (Reuters) – Kenya’s Equity Group Holdings said on Tuesday it was in discussions with London-listed financial services firm Atlas Mara Limited about acquiring stakes in banks in Rwanda, Zambia, Mozambique and Tanzania. Equity’s announcement marks the third major deal among lenders in Kenya since the government capped commercial lending […]
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