From left: Kenya Mortgage Finance Company (KMRC) Head of Risk and Compliance Florah Muthaura, IFC Business Development Lead for Financial Institutions East Africa Jes Chonzi, KMRC CEO Johnstone Oltetia, IFC Manager for Sub-Saharan Africa Gokhan Kont, KMRC Head of Legal Services Elisha Nyikuli and Head of Credit Geofrey Mwaura during a business meeting to discuss […]
Nakuru County Government has inked a deal with Kenya Commercial Bank (KCB) aimed at offering training and affordable financing to over 2,000 Small and Medium Enterprises (SMEs) within the devolved unit. Governor Lee Kinyanjui said his administration was partnering with the bank to offer credit facilities at a 12.5 per cent interest rate per annum, […]
Britam Holdings has sold Sh12.2 billion worth of shares in leading Kenyan lender Equity Group to the International Finance Corporation (IFC). The deal, revealed through a regulatory notice by Equity Group Holdings (EGH), now gives the investment arm of the World Bank a 6.7 per cent share of the lender. “EGH was notified that on […]
Kampala, Uganda — The South African telecom subsidiary in Uganda, MTN, began a new journey on Dec.06, with the listing on the Uganda Securities Exchange, and the share price surging past the IPO price during the first week of trading. The company’s share price increased by an average of 2% to Shs204 during the entire […]
Stanbic IBTC Stanbic IBTC Holdings Plc hopes to get the blessings of regulators for the fintech subsidiary it plans to set up any moment soon, the financial services group said on Tuesday. To be christened Stanbic IBTC Financial Services Limited, the fintech firm will emerge at a time of tough luck for Stanbic IBTC Holdings […]
KAMPALA, Jan. 6 (Xinhua) — Uganda’s Purchasing Managers’ Index (PMI) fell to 51.5 in December last year, down from 54.1 in November, a bank reported on Wednesday. The new reading in the monthly report issued by Stanbic Bank, Uganda’s largest bank, attributed the decline to price pressures and a drop in employment. "Staffing levels dipped […]
Commercial banks and money lenders are swarming schools offering discounted school fees loans to parents wishing to clear tuition and procure educational materials ahead of schools reopening next week. The competition for new customers by the lenders coincides with the fact that many parents would like to take their children back to school, but are […]
The Nigerian Stock Exchange building (image used for illustration) [Reuters/Akintunde Akinleye] Activities on the nation’s bourse kicked off the first trading session of the year on a positive note due to bargain hunting on BUA Cement. Specifically, the All-Share Index advanced by 309.79 points or 0.73 per cent to close at 43,026.23 against 42,716.44 recorded […]
By Dipo Olowookere The last trading session of 2021 on the Nigerian Exchange (NGX) Limited ended on a high note with a 2.16 per cent growth on Friday, December 31. The growth recorded by Nigerian stocks was triggered by bargain hunting in Nestle Nigeria, MTN Nigeria and a few other blue-chip equities on the trading […]
Kayode Tokede Dangote Cement Plc and 14 other highly capitalised stocks on the Nigerian Exchange Limited (NGX) contributed 90.2 per cent or N20.10 trillion to overall N22.3 trillion market capitalisation in 2021. The other highly capitalised stocks were MTN Nigeria Plc, Airtel Africa Plc, BUA cement, Nestle Nigeria Plc, Zenith Bank Plc, Guaranty Trust Holdings […]
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