Corporate News

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...

The Bank costs were well managed at Kshs17.3 billion reflecting a 1% increase year on year largely because of spend discipline and cost saves initiatives. The cost saves initiatives included automation of...

EABL acquired 51 per cent of the issued share capital of SBL in October 2010. At present, SBL has three operating plants spread out across the Tanzania

The Group continued to maintain an agile balance sheet with a liquidity of 52.1%, a loan deposit ratio of 75.9% and a core capital to risk weighted asset ratio of 19.8%. The...

The Bank's Chief Executive said it was too early to assess the impact of the coronavirus epidemic on its business. StanChart Kenya said that if the crisis extends beyond 90 days, its...

In a statement accompanying financial results, Co-op Bank Group MD Dr. Gideon Muriuki said the bank has continued to leverage on successful penetration banking services in the country while reviewing opportunities to...

In line with the mandate of ensuring an orderly, fair and efficient market as well as protection of investors, the capital markets industry is working jointly to ensure that market activities continue...

Equity Group Holdings Plc has announced that Polycarp Igathe has re-joined the Equity Executive team as the Group Chief Commercial Officer reporting to the Group CEO. Before returning to Vivo in 2019,...

Kenya's largest telecoms operator Safaricom said on Monday it will waive transaction costs on mobile money transfers under Kes 1,000 shillings after President Uhuru Kenyatta encouraged the use of cashless payments to curb...

KCB higher earnings have continued to be supported by non-interest funded income (NFI) streams which grew by 22.8 percent to Ksh.28.2 billion on the back of higher fees and commissions on customer...

In the newsletter, Co-op bank issued a cautionary statement, informing investors of a major corporate action which might significantly affect the shareholding of the company. 

Based on the Companys unaudited financial results for the first six months ended 31 December 2019 and the Company's second half forecast, profit for the full year is likely to be at...

The Board of Directors does not recommend an interim dividend for the period ended 31 December 2019. The Board of Directors shall make a recommendation regarding any final dividend for the year...

The Board of Directors of Kenya Airways PLC has appointed Mr. Allan Kilavuka as the airline’s Group Managing Director and Chief Executive Officer effective April 1, 2020. Prior to this appointment, he...

East African Portland Cement Company (EAPC) has posted a Ksh.3.4 billion loss for the year ending June 30, 2019, returning to loss making after an year’s break in fortunes. The cement manufacturer...

Kenya Power & Lighting Company has this morning released their Unaudited results for the 2019 financial year. KPLC is among the companies audited by the National Auditor General and has not been...

Leparan Gideon Morintat has been appointed as the chief executive officer of State-owned National Oil Corporation of Kenya (Nock), taking over from Mr George Kubai, who has been Acting Chief Executive Officer...

Within the period under review, the Sanlam Kenya group posted improved results posting a pre-tax profit of Kes 550 million compared to a prior year's loss before tax of Kes 2.1 million...

We continue to engage government authorities to clarify the basis of computing this levy and ensure it does not adversely impact the Company’s competitiveness especially on exports.

Listed food-grade carbon dioxide producer carbacid Investments has reported a 70 percent increase in the half year net profit to reach Kes 178.7 million from Kes 105.3 million posted in a similar...

ApexAfrica Capital Limited and AIB Capital Limited have this evening announce the signing of a binding agreement that will see the shareholders of the two Companies enter into an agreement to merge...

In its goal to achieve full transition by June 2020, Barclays Bank of Kenya will officially start trading on the Nairobi Securities Exchange as ABSA Group Plc. In a statement sent out...

East African Breweries Limited (EABL) has announced a pre-tax profit of Kshs 10.6 billion during the half-year ending 31 December 2019, representing a 9% increase compared to the same period last year....

State Bank of Mauritius (SBM) Kenya has this afternoon filled an application at the High Courts requesting to Liquidate the assets of listed firm, East African Cables Plc. In court fillings through...

Acorn Holdings this morning cross-listed their green bond on the London Stock Exchange, barely a week after the bond went public at the Nairobi Securities Exchange. President Kenyatta today rang the bell...

The Central Bank of Kenya announces the acquisition of up to 100 percent of the shareholding of Transnational Bank Plc by Access Bank Plc. This follows a prior CBK’s approval notice which...

The Board of the Capital Markets Authority has today announced the appointment of Mr. Wyckliffe M. Shamiah as the Acting Chief Executive of the Capital Markets Authority with effect from January 1,...

Kenya Airways Plc has joined the growing list of companies issuing profit warning announcements. KQ which has unsuccessfully tried various restructuring strategies will see this year's loss widen by over 25 per...

Listed Financial Services firm CIC Insurance Group has joined the long list of companies issuing profit warnings for the financial year December 31, 2019. This means, the profits for the FY 2019...

National Carrier Kenya Airways has announced that Allan Kilavuka will take over the company's Chief Executive Officer effective January 1st,2020. Allan, who is the current CEO of KQ's budget carrier and subsidiary,...

The Nairobi Securities Exchange has joined the list of firms to issue a profit warning Announcement this year. This means that the company's profits will drop  by more than 25% in the...

Standard Group Plc has this morning issued a Profit warning statement. This means the profit for the year ended 31st December 2019 will be at least 25% lower than the performance of...

Kenya Power and Lighting Company Plc and KenGen Plc on Friday said there would be a further delay in the announcement of their full-year results as the appointment of a new auditor...

Centum Plc has recorded a net profit increase from KES 2.1 billion to KES 6.8 billion for the six-month period ended 30 September 2019, compared to a similar period in the prior...

East African Portland Cement Company has announced a delay in publication of their results for the Financial Year ended 30th June, 2019. In a statement published to shareholders today, the Board of...

Family Bank has recorded a KES 1.01 Billion profit before tax in the nine months of 2019, registering a remarkable 274% growth in earnings compared to the same period in 2018. Higher...

KCB Group Plc has recorded a 6% growth y/y profits to Ksh19.2 billion net profit for the third quarter ending September 30,2019. In the results, Group CEO Joshua Oigara emphasized on sustained...

Coffee farm Eaagads Limited has once again issued a profit warning to shareholders for the Financial year ending March 2020. These projections are based on projections of the Half year results which...

EABL's employee share ownership plan (Esop) increased their shareholding of the firm by 495,965 to stand at 2.4 Million shares with a value of 585Million. EABL’s ESOP compensation plan encourages employees to own...

Hilda Njeru Takes over at CDSC as Rose Mambo Exits

Safaricom Plc bought more shares in it's EPSAP plan, bringing the total holding of the Telco by executives to 32.2 million units with a current market value of Kes 875 million. Regulatory...