Corporate News

With KCB's existing presence in these markets and strong banking capabilities in East Africa, the merged banks in each market can build on the significant progress made in recent years and be...

There are now 42 signatories to the Declaration including Standard Bank, Barclays, Banco Santander Group, the City of London, Deutsche Bank, HSBC Bank, and JP Morgan Chase. The United for Wildlife Taskforce...

The higher return is attributed to the fund’s ability to employ long/short trading models which ensures capital appreciation for investors whether markets are gaining in value (going long) or losing value (going...

As of 30th June 2019, KenGen had an installed capacity of 1,631.1MW out of which 85% was generated through green sources, mainly geothermal, wind, and solar with the balance coming from thermal sources.

Carbacid Investment has announced a profit before tax of Kes 427 million for the year ended July 31, 2020, marking a 13 percent increase from the Kes 377 million posted a year...

The profit dip has however trimmed the bank’s earnings per share to Kes.11.13 from Kes.16.15 last year.

The firm is expected to transform NBV into a manufacturer of cement and other industrial products switching it from a leather products retail chain.

The slow recruitment process has however been evident at the capital markets regulator with Paul Muthaura having also served first as CEO on a lengthy interim capacity.

Cooperative Bank booked a 905 increase in loan loss provision from Kes. 2.1 billion in 2019 to Kes. 4 billion.

ABSA has painted a level of  uncertainty in its outlook relating to the COVID-19 pandemic where it has highlighted that it is high and unprecedented, and its impact on markets and the global...

Equity’s asset base has expanded to Kes.933.9 billion with loans and advances to customers climbing by 30 per cent to Kes.453.9 billion.

Shareholders’ equity grew 12% from KShs. 121.2 billion to KShs. 135.9.1 billion. This was driven by the growth in earnings over the 12-month period to September 2020.

Ndegwa indicates the company remains in discussion with the Central Bank of Kenya (CBK) on the review of free cash transfers below Kes.1000 beyond December 312.

EBKL is a subsidiary of Equity Group Holdings Plc and holds the lion share of the Group’s business contributing to over 80% of the profitability.

Other Safaricom prefixes include 070X, 071X, 072X, 0740-43, 0745-46, 0748, 0757-59, 0768-69 and 079X.

Until his appointment, Gen. Mwathethe was heading the Oceans and Blue Economy Office.

Dr Kimani will be a valuable addition to the Kakuzi Board. He knows Kakuzi well having grown up on the farm. He has an impressive and well-respected track record in the agricultural...

The airline had deployed a Boeing 787 Dreamliner jet with a capacity of 234 seats for daily flight to New York.

With no quick recovery in sight, KQ is seeking to cuts costs in a plan that will see it lay off an unspecified number of workers, get rid of some assets and...

Customers who have been on the network since inceptions also stand a chance to get 20GB of data as the telco marks twenty years since establishment.

Cash flow challenges also saw KenGen hit Kenya Power with a Sh722.31 million financial penalty for flouting 40-day window of paying for the electricity supplied in the financial year ended June 2019.

Kenya is an important new region for us. It has become a renowned and well-regulated financial services hub in East Africa. The economy is highly developed and embodies entrepreneurship and growth.

The Board of Directors of HF Group Plc has appointed  Mr. Adan Daud Mohamed as a Non-Executive Director of its Mortgage subsidiary, HFC effective 19th October 2020. Mr. Adan Mohammed holds a...

The AGM ratified the re-election of Messrs Wilfred Ongoro, Lawrence Karissa and Margaret Karangatha to the Board for another term of three years, and also ratified the election of Mrs Weda Welton...

The Chief Executive of VSA capital Andrew Monk said the company is pleased with its new partnership with Faida that is expected to make a real difference to the services they offer...

CMA Acting Chief Executive Wycliffe Shamiah, said; ‘‘We are glad to note that Pezesha effectively tested its crowdfunding innovation and achieved its testing objectives and control boundaries between July 2019 and July 2020.

However, according to a report by the firm , only Tanzania took up its full share of 8% while Kenya took up 2.5 %.

Davis & Shirtliff plans to use the new facility to increase the company’s network to 70% coverage across Kenya and open its distribution network further in other African markets.

Steven Oluoch who was the former Chief Executive Officer left the organisation upon attainment of retirement age and officially handed over the position to Paul Muthaura.

“We are keen to enter these key East African markets with substantial market share at the outset and JHL is the best partner to help us achieve this ambition in East Africa.”

At least a third of Tullow Kenya workforce across all levels and cadres are expected to leave the company, the firm warned early this year

However, external valuations for real estate investments will be performed by an independent registered property valuer at least once every three years.

In her new role, Eva is expected to develop and implement Visa’s growth strategy in Kenya. She is also tasked with the duty to  accelerate the firm’s local growth through identifying critical...

Nation Media Group has launched its digital brand, Nation.Africa, aiming at expanding it's large online presence, taking to advantage the company's revamped digital plan to grow sales and recover from the effects...

Overall UAP Holdings saw a double digit increase in gross written premiums at 11% driven by core short-term insurance businesses, which reverses the previous trend of declining to flat growth experienced in...

KenGen has declared a dividend and also announced that Rebecca Miano will be in the firm for 3 more years

The board noted that the environment remains challenging due to the uncertainty of the COVID-19 related impacts as well as the extent and speed of the economic recovery post pandemic

Motor vehicle dealer Isuzu East Africa chief executive Rita Kavashe has been appointed as the board chairperson cigarette manufacturer BAT Kenya Plc following the retirement of Mr. George Maina as a Director...

The earnings per share in nation media group recorded a loss of kes 1.90 from a profit of kes 2.20 in the period under discussion.

East African Cables thus recorded a decrease in the overall expenses by 12% in the period ended 30th June 2020.

This led to a 58% decrease in revenue booked in six months period ending 30th June 2020

The company forecasts that the 2020 results will be significantly negatively impacted because of the projected suppressed air travel demand as it will remain at less than 50% of 2019 for the...

Absa says it has restructured Kes.57 billion worth of customer loans representing 28 percent of its advances to customers as cushioning during the pandemic.

Bamburi Cement Plc has posted a 13% decline in activity for the first half of 2020 at Kes16.2billion which as compared to the Kes18.7 billion the company posted in a similar period...

NCBA board has held back the declaration of an interim dividend for the period in line with its cash preservation stance.

The reduced profit was largely the result of increased provisions, reflecting the prudent approach adopted by DTB in the midst of the prevailing higher credit risk environment following the COVID-19 pandemic.

The performance of Sanlam Kenya in the first six months is attributed to the economic hardship facing the country due to COVID-19 which has seen most companies’ record losses in the country.

Property revaluation also widened the  losses of Kes 929 million due to the depressed property market which has been characterized by low occupancy levels and rental yields.

Despite the very wet conditions experienced in the first half of the year Kakuzi's arable operations have done well.

The total operating income grew by 17.6 per cent to Sh 4.2 billion during this period compared to Sh 3.6 billion last year. 

The Group increased its portfolio credit provision 15-fold from Kes. 500 million to Kes.7.7 billion increasing the Group’s NPL coverage from 64% to 73%.

Stanbic Bank will not pay out an interim dividend from its half year earnings with its earnings per share (EPS) having declined to Kes.6.46 from Kes.10.28 in a similar period in 2019.

The bank says a six percent growth in net loans and advances to Kes 272 billion and a 19 percent growth in customer deposits to Kes 384.6 billion during the period helped...

KCB's earning per share (EPS) has also dropped to Kes.4.72 in the period from Kes.8.30 last year, pushing the lender to halt payment of interim dividends to its shareholders this year as...

NCBA Bank Kenya Plc has given notice to all holders of its Kes 7B Medium Term Note Programme, of the exercise of its option for early redemption of the outstanding Notes issued...

Equity Group now has two subsidiaries in the Democratic Republic of Congo having earlier acquired ProCredit, a German bank, now Equity Bank Congo. BCDC is the oldest bank in the country, having...

The company states that despite the depressed market prices which have continued to pose a risk to the business performance, the management of the firm will continue to focus on volume growth,...

Shareholders’ funds which were at Kes 31.9 billion in the period ending 31st December 2019, also increased by 3%  as at the period ending 30th June 2020, to Kes 33.1 billion.

Ndegwa said Nganga took up leadership reins at a time when government was starting to  process of offering 25% of its shares to the public through the Nairobi Stock Exchange (NSE) in...

East African Breweries Limited (EABL) recorded a 9% decline in net sales for the financial year ended 30 June 2020, as first half growth of 10% was offset by a 29% decline...

The Kes 9 per share for the financial year ended December 2019 will be paid despite the shareholders not approving at an Annual General Meeting.

Pan African housing development financier, Shelter Afrique signalled a full recovery as it reported its 2019 earnings Tuesday. The Company reduced its operating loss to KSh 59 million (USD 0.59M) in 2019, down...

Kittony takes over from Samuel Kimani who stepped down as chair of board on July 13, 2020

Members of the Advisory Council play a critical role of looking into progress and constraints to gender equality globally and providing feedback and guidance of the bank’s work on gender equality and...

The de-listing comes on the back of falling revenues that have eroded the firm’s capital base over the years, wiping out billions of shillings in shareholder value.

WPP Scangroup Plc yesterday declared a special dividend of KES 8.00 per share following the disposal of its marketing research operations. The transaction by WPP Scangroup follows the disposal by WPP plc...

Kengen has already obtained pre-requisite laboratory approvals from the KenyaBureau of Standards to manufacture the detergent.

Last year, African Alliance announced the closure of its Ugandan brokerage business, citing low market activity

Kenya Power’s net earnings for the year ended June 2020 is expected to drop by over 25 per cent as compared to a similar period last year (2019). A profit warning issued...

The Group is pursuing a sales-led development model and is currently constructing 1,442 residential units across its three mixed-use developments

Sateesh joined Safaricom PLC as CFO and Executive Director on the board on 1st August 2016 from Vodacom Tanzania Ltd, where he held a similar position.

Going forward, the company has adopted various measures to mitigate its impact to the business and also continues to focus on achieving profitable growth.

The directors of the company have not issued a dividend recommendation for the period ending 31st Dec 2019.

The company's balance sheet remained on an expansionary curve with net loans and advances to customers hitting Kes.203 billion while customer deposits rose by 6.6 percent in the period to Kes.238.7 billion

The Group increased its loan loss provision tenfold to Kshs. 3 billion from Kshs. 300 million the previous year leading to a decline of profit after tax by 14% from Kshs. 6.2...

The company expects to close the sale of Kantar by June 2020.

Cargo tonnage increased from 64,238 tons to 68,264 tons, representing a 6.3 percent growth. Operating costs surged 12.4 percent to Kes 129.1 billion from Kes114.8 billion. 

Standard Chartered Ban had issued a dividend notice of Kes 15.00 per share and was due for payments on the 28th May,2020

This is the fist time Equity Bank Shareholders will miss dividends since the company went public

The Bank projects that it will wither the tough operating environment characterized by the COVID-19 pandemic to grow its earnings in 2020

Total non-interest income grew to Kes4.9 billion from Kes4.1 billion while total operating income grew to Kes12.5 billion from Kes11.1 billion whilethe gross Non Performing Loans (NPLs/bad loans) stood at Kes31.8 billion...

The Group’s balance sheet remained strong, growing 31% from Kes725.7 billion to Kes.947.1 billion, well within range of the Kes.1 trillion target by the end of 2022. Customer deposits rose 34% to...

The Group’s fundamentals remained strong in the first quarter of the year with overall positive volume increases, ending the quarter with a total assets base at Kes509.6billion.

Investors can download Faida M-Trader on their phone and set up their CSDC remotely with the Investment Bank.

Last year, the brewer, which has presence in Kenya, Uganda and Tanzania saw its net revenue rise to Kes 82.5 billion, gains which were primarily driven by strong underlying performance on the...

Stanbic Bank restructured KSh 2.3 billion of SME loans and saw SMEs get a three-month loan holiday. This was particularly impactful as SMEs have been hardest hit by the COVID-19 crisis putting...

CIPLA's share price has fallen by more than a half from the Initial Public Offering (IPO) price of Ushs 256.5 per share in 2018. Its shares were trading at Ushs 101 apiece...

Safaricom’s board has recommended a Kes.1.40 dividend pay out to shareholders up from Kes.1.25 last year from an earnings per share (EPS) of Kes.1.84.

MansaX successfully delivered one of the highest returns in the market in Q1’2020 with an annualized return of 24.45% outperforming the Nairobi bourse index, which posted a negative 25.6% return as foreign...

The country’s third largest bank by assets had been set to pay the dividend to shareholders on the books on April 23.

Nation Media Group has announced a payment of a bonus dividend which will be issued on a ratio of 1 share for every 10 held by investors.

The rating action follows the downgrade of the bank's ultimate parent, South Africa-based Standard Bank Group Limited (SBG), to 'BB'/Negative from 'BB+/Negative'

The international insurance business contributed 19 percent of the Group’s gross earned premium, thereby boosting profitably to the Group.

Peter Ndegwa is the third substantial chief executive of the company following in the footsteps of Joseph ( 2000-2010 ) and the late Collymore (November 2010-July 2019 ). He has a big...

In 2018 year the lender had posted a loss of Kes598.2 million, even as it slowed its loans and advances to customers. Operating expenses dropped by Kes726 million or 17.1 percent to...

The net interest income grew by 16.3 per cent to KES. 5 Billion compared to KES. 4.3 Billion realized in the same period last year with income from loans and government securities...

The Directors have recommended the payment of a first and final dividend for the year 2019 of Kes. 0.08 per ordinary share and will be paid within sixty (60) days of the...

The lender’s total operating income grew by 59 per cent to Ksh.33.7 billion from Ksh.21.2 billion posted in the previous year. The bank also realised a Ksh.4.1 billion windfall from a bargain...