Corporate News

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...

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...