People walk past an SBM bank branch on Mama Ngina Street in Nairobi. PHOTO | SALATON NJAU | NMG SBM Bank has sent home a number of employees in a mass layoff after failing to reach their targeted number under the voluntary exit window. The lender which bought Chase Bank three years ago announced a […]
Passengers alight from Jumbojet aircraft at Kisumu International airport on October 9, 2020. PHOTO | TONY OMONDI | NMG Domestic airfares have nearly doubled ahead of Christmas on increased demand with some routes recording full bookings in the days to December 25. Ticket prices from Nairobi to Kisumu have risen to a peak of Sh15, […]
Kenya Power board chair Vivienne Yeda. She said Kplc was aware of the unsustainability of the terms and conditions of the existing PPA agreements saying that Kenyans are punished by the ever increasing cost of electricity including energy from their own natural resources; geothermal, and the wind and sun. FILE PHOTO | NMG The company […]
Tuskys supermarket Chap Chap branch on Muindi Mbingu Street in Nairobi on Tuesday, September 22, 2020. PHOTO | DENNIS ONSONGO | NMG Tuskys supermarket has prevented rival Naivas from replacing it at Donholm Greenspan Mall after the cash-strapped retailer declined to surrender the premises. The owners of the mall auctioned Tuksy’s goods for non-payment of […]
Nation Media Group #ticker:NMG held a glamourous brunch on Saturday to celebrate Top 40 Under 40 Women finalists. Now in its 13th year, the Top 40 Under 40 project honours outstanding women in different spheres of the economy from sports, creatives, medicine, law, to social entrepreneurship. The 40 awardees shared the joys, concerns, and anxieties […]
A government policy that favours struggling national carrier Kenya Airways (KQ) against its cheaper competitors to transport fresh produce to other countries continues to hurt other exporters. They have complained about the lack of capacity on KQ to ferry their produce and the airline’s expensive airfreight charges. They now fear they could be forced in […]
Central Bank of Kenya Governor Patrick Njoroge. PHOTO | SALATON NJAU | NMG Kenya’s current account deficit widened to 5.4 percent of GDP in the year to October from 4.8 percent a year earlier on the back of a bigger oil and industrial goods import bill. The year-on-year expansion of the deficit is also attributed […]
Centum chief executive James Mworia. FILE PHOTO | NMG The review period saw Centum Group sales jump from Ksh136.2 million ($1.2 million) to Ksh1.23 billion ($10.9 million), while investment and other income jumped from Ksh329 million ($2.9 million) to Ksh771 million ($6.8 million). Group CEO James Mworia said the company was witnessing recovery across various […]
Digital mobile apps and micro-lenders are at the forefront of expanding the Shylock economy. FILE PHOTO | NMG Digital lenders will be required to disclose their full fees and penalties to the competition watchdog every four months as part of efforts to fix the problem of hidden charges. The Competition Authority of Kenya (CAK) said […]
The Capital Markets Authority (CMA) has barred listed firms with negative equity from rolling out share buybacks, locking out cash-strapped companies from the process largely applied to correct perceived undervaluation of stock. The regulator has ruled that directors of the companies which intend to repurchase stock from the market should ensure “assets … are equal […]
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