CIC Insurance Group Plc is pleased to release our 2023 half-year results based on the new IFRS 17 reporting standards. The IFRS 17 standard provides consistent principles for all aspects …
Kenya Reinsurance Corporation Limited (Kenya Re) has today reported a Profit before Tax (PBT) of Kshs 1.3 billion for the half-year period ending June 30, 2023, registering 9% growth compared …
Family Bank Group has posted a KES. 2.0 billion Profit Before Tax in the first six months to 30 June 2023. Family Bank Group’s interest income rose by 18.7% to …
Flutterwave, Africa’s largest payment service provider is in the process of going public through the issuance of an Initial Public Offering (IPO). Reports from the management indicate that the company …
M-PESA, Safaricom Ethiopia’s Mobile Financial Services, goes live today three months after receiving the Payment Instrument Issuer License from the National Bank of Ethiopia. In preparation for launch, M-PESA has …
Long distance transport service provider, Easy Coach had announced that it will no longer ferry fresh, smoked and dried fish, including Omena on their buses due to the discomfort they …
Galana Kulalu, August 12, 2023…Twiga Foods intends to expand the irrigated acreage at the Galana Kulalu Food Security Project (GKFSP) by up to 20,000 acres. This expansion is expected to …
The Mitumba sector in Kenya is one of the largest employers in a country whose unemployment rate is beyond 35 percent. The sector employs at least 2.5 million people directly …
Safaricom (NSE: SCOM) is set to increase M-PESA account limits to KSh. 500,000 following approval from the Central Bank of Kenya. The higher account limit will be effective from Tuesday 15th August 2023 …
Stanbic Holdings Plc has announced a KES 7.1 profit after tax for the half-year period ended June 2023, attributed to strong revenue and balance sheet growth. Total revenue increased by …
E-mobility company, BasiGo has announced the introduction of the “E9 Kubwa”, a 36-seater electric bus custom designed for the Kenyan market. The first 2 Kubwa buses have begun pilot testing with …
As the Nairobi Expressway marks one year since it was opened to the public, it has emerged that at least 60,000 Kenyans are using it on a daily basis. The …
Africa’s second-largest Sacco in terms of asset base, Stima Sacco has continued to spread its wings across the country with a new branch in Kisii. The new branch is located …
Uber and Safaricom (NSE: SCOM) have launched a partnership that will see riders across Kenya pay for trips through M-PESA. This follows a collaboration with UberEats that allowed consumers to pay for …
The price of dry maize is still high in most parts of the country, including Western Kenya Despite this being the harvesting season. Traditionally, during the harvesting season, maize prices …
WorldRemit, a digital remittances brand within Zepz, releases its third year of global data and findings, to understand how the cost of school supplies impacts families around the world. As …
Electric bus pioneer, BasiGo, has made a second entry into the African market with the launch of BasiGo Rwanda Ltd., a new entity focused on electrifying the public transport system …
HassConsult has unveiled the Hass Property price indices for the second quarter of 2023, with property prices stagnating at a 0.5 percent drop in the quarter resulting in a 1.8 …
Leading edible oils and detergent manufacturer Pwani Oil Limited has announced a significant investment in an ultra-modern Home Care and Personal Care manufacturing plant, the first of its kind in the …
Demand for professional laundry services in the country is expected to surge by the end of 2023 on account of rapid urbanization, making Kenya’s commercial laundry industry one of the …
Actis-backed property developer, Mi Vida, has unveiled the Mi Club, a loyalty program designed to reward its clients and encourage referrals. The Company, launched in 2019 to address the shortage …
Bank of Kigali disbursed Ksh 13.2 billion through its Small and Medium Enterprises (SMEs) center in 10 months to April 2023, pointing to high pent-up demand for funding by the …
Banseok Industry Company Ltd Country Director Mr. Fredrick Kimani (Right) explains to attendees of the event how the peanut peeling machine works. Banseok Industry Company Ltd in partnership with the …
CFAO Motors Kenya and Stanbic Bank Kenya have today signed an agreement that will see customers get up to 100% financing, payable within 72 months, for any vehicle under the …
Kenya’s telecommunication giant, Safaricom, has launched the ‘Gomoka na Go Monthly’ promotion that will see customers get to spin a wheel and win various prizes once they purchase any Go …
East African Cables PLC (“EAC”) has obtained a court injunction in regard to the notice dated 16th June 2023 issued by Equity Bank to appoint an administrator to EAC. The …
TransCentury PLC (“TC”) would like to inform shareholders and the public that the company has obtained a court injunction in regards to the notice dated 16th June 2023 issued by …
Stima DT Sacco, to bring services closer to the people, has today launched a new branch domiciled at the Electricity House in Nairobi. The opening of the office forms part …
From spicy maki rolls to skillfully sliced sashimi, sushi is an evolving favorite for Kenyans looking for a delicious takeaway alongside the typical chicken, burger, pizza, and African cuisine meals. …
The Board of Britam Holdings Plc has appointed Mr. Barack Obatsa as the Chief Executive Officer (CEO) of Britam Asset Managers (BAM) (K), effective 29th May 2023. Barack has over …
The cost of living is just off the roof for millions of Kenyans. The price of unga is beyond many pockets. The price of sugar cannot even be discussed. The …
Over 200,000 people across 6 counties are set to access clean water through a KES 330 million fund dubbed “Challenge Fund’ through a partnership with Aqua for All with Family …
Java House has launched a new branch, its 84th in the region in Nairobi’s bustling Eastleigh neighborhood, signaling a desire by Java to get closer to its guests in their …
Faulu Bank has emerged as the best Microfinance bank in digital banking and product innovation at the just concluded 18th edition of the Think Business Awards, 2023. The Awards, held annually …
Absa Bank Kenya PLC has today reported a Profit after Tax of Kshs.4.5 billion for the quarter ended 31 March 2023, representing a 51% growth in comparison to a similar …
BK Group has reported a 28.5 percent increase in first-quarter net profit to KES2.1 billion, driven by growth in interest income and prudent cost management. The Nairobi Securities Exchange and …
Most young Kenyans – millennials and Generation Z (Gen Zs) – rely on TV stations as a source of information as opposed to social media and radio stations. This is …
The Family Bank Group has recorded a 1.04 billion shillings Profit Before Tax for the period ending 31 March 2023. The Bank’s performance remained steady despite the tough operating environment …
BasiGo has launched a first-of-its-kind, high-power DC Fast charging station for electric buses in Buru Buru. The station has the capacity to charge 6 electric buses simultaneously but is projected …
Faulu has reinforced its commitment to empowering social entrepreneurs by crafting and rolling out tailored sustainable financial solutions. The move is aimed at helping social entrepreneurs navigate challenges and develop …
The Emirates Group has released its financial results. Emirates achieved new record profits, a complete turnaround from its loss position last year. Both Emirates and dnata saw significant revenue increases …
M-KOPA has closed over $250m in new debt and equity funding to expand its financial services offering to underbanked consumers across Sub-Saharan Africa. Over $200m in sustainability-linked debt financing was …
KCB Bank has dethroned Equity as the largest lender in the country by asset size on the back of an aggressive expansion of foreign subsidiaries. KCB’s total assets stood at …
Stanbic Bank has announced a 3.9 billion shillings profit after tax for the first quarter ended 31st March 2023. The lender attributed the 84 percent increase in its Q1 earnings …
Safaricom Ethiopia through its newly established and wholly owned subsidiary; Safaricom M-PESA Mobile Financial Services PLC (Private Limited Company) received the Payment Instrument Issuer License from the National Bank of …
CFAO Group has acquired DT Dobie Kenya. DT Dobie has transferred its business assets to CFAO Motors Kenya and both will be run under one entity, CFAO Motors Kenya. The Managing …
A 20-year-old Eldoret National Polytechnic student won a year’s worth of shopping courtesy of Coca-Cola. Michael Wesonga a resident of Langas – Eldoret was the eighth winner in the current …
LG Electronics Inc. (LG) has reported a Ksh 153.15 billion profit for the first quarter of 2023, the third-highest first-quarter profitability in the company’s history. Revenue for the same period …
Letshego Kenya Limited, a subsidiary of Letshego Holdings Limited (Letshego Group), has partnered with Creditinfo Kenya to launch LetsGo Cash, a self-service and short-term instant loan that gives customers access to …
Bank of Kigali customers will now track their loan repayment schedules, interest costs, and outstanding balances on their mobile phones. This follows the activation of a Loan Repayment Feature on …
Insurance broker, Minet Kenya has unveiled an insurance cover that allows small and medium enterprises (SMEs) in Kenya to mitigate against risks they feel most vulnerable for as low as …
Mobile money services are growing faster than predicted around the globe, as digital services continue to rise in popularity, according to the GSMA’s annual ‘State of the Industry Report on …
Standard Chartered and the IFC announced the signing of a USD700 million investment in the IFC’s Global Trade Liquidity Programme (GTLP) to support global trade finance. Since the launch of …
Standard Chartered Kenya in partnership with Somo has today unveiled an ‘Access to Finance Programme’ that will support disadvantaged women by giving them access to small ticket loans ranging from …
Old Mutual General Insurance has more than doubled its profit before tax for the year ending December 31st, 2022 to Kes. 1.24 billion up from Kes. 543.46 million registered within …
Easter might have ended on the calendar but not at LG Electronics. At LG, Easter is on until the end of this month. The giant company is giving some of …
There is a shortage of onions in Kenya at the moment. The country is now relying on Tanzania for a 90 percent supply of onions on the market. Although onions …
The Kenyan private sector economy continued to run in contraction territory in March, the latest survey data showed, as business activity and new orders decreased for the second month running …
Easter is here with us. It is going to be a long weekend. Kenyans will leave their workplaces on Thursday evening and report back on Tuesday morning. After a series …
LG Electronics East Africa has announced price cuts of its home appliances by up to 21 percent ahead of the Easter season. This means customers will be able to save …
BK Group Plc shareholders are set for a 3.73 shillings per share dividend earnings for the full year ended December 2022, representing a 50 percent payout of the Group’s after-tax …
It is raining across Kenya but the Kenya Meteorological Department says that the rains will not last for long. Soon, the massive heat that has been sweeping across the country …
When you think about developed markets, there are established traditional finance operators whose services are accessible to millions. However, Web3 technology can still play a critical role in these markets …
CFAO Motors Kenya has unveiled the all-new Suzuki XL6, a versatile mid-size station wagon model, featuring a sleek and modern design with a spacious and comfortable interior on the Kenyan …
Kenya Airways has shut down offices in Kisumu (Kenya) and Johannesburg (South Africa) over the planned “National Shutdown” demonstrations set for Monday. Kisumu has been experiencing demonstrations throughout the week …
According to the World Travel and Tourism Council’s latest Economic Impact Report (EIR), the African Travel and Tourism sector’s GDP is estimated to grow at an average rate of 6.8 …
KCB Group PLC recorded 40.8 billion shillings in profit after tax for the full year ending December 2022. This was a 19.5 percent rise in profitability from KShs.34.2 billion reported …
Kenya’s Stima Sacco has resumed instant ATM processing services at all their branch, giving customers the convenience of accessing services such as withdrawals without a hustle. “We wish to inform …
Safaricom CEO Mr. Peter Ndegwa has brushed off speculations that he is leaving the giant telecommunications company in April terming such allegations as “noise.” According to Mr. Ndegwa, his contract …
Kenyans should prepare to dig deeper into their pockets to afford a 2-kilogram packet of maize flour (Unga). A section of millers has said there is no other option but …
Shareholders at the Stanbic Bank Kenya will, subject to approval at the next Annual General Meeting, enjoy 4.98 billion shillings in dividends, being 55 percent of the 2022 profit after …
Word on the street has it that Joshua Oigara, the former CEO of Kenya Commercial Bank (KCB Group) might be headed to Safaricom as the new Chief Executive Officer (CEO). …
The once vibrant and giant in the retail sector in Kenya, Tuskys Supermarket, has shut down its Kenyatta Avenue Branch pushing it closer to completely winding out from the history …
Carrefour Kenya has appointed a new country manager amid its expansion quest in East Africa. The appointment comes after rumors of a controversial exit of the holder of the position …
Kenya’s fastest-growing sacco in asset base, Stima Sacco, has approved the payment of a first and final dividend of 15 percent on share capital to its members for the financial …
Absa Bank Kenya has appointed Abdi Mohamed as Chief Executive Officer (CEO) and Managing Director to replace Jeremy Awori. Jeremy, who left last year, has been appointed as the CEO …
A new PMI survey by Stanbic Bank Kenya has shown that Kenyan businesses recorded a sharp decline during the month of February on account of tax woes, high cost of …
The Kenya Banker’s Association (KBA) has ranked the Co-operative Bank of Kenya as the best bank in customer experience. Family Bank came in second with KBA noting that the customers …
The United States of America consumes the most fuel in the world on a daily basis. It uses 19.89 million barrels each day.
The controversy surrounding China Square continues to get thicker by the day. Many have been made to believe that Lei Cheng is the sole owner of China Square. It appears …
KCB Group is set to open 12 new branches in Kenya and Tanzania. This will take the total number of branches of KCB Group in the region to 510 from …
Customers who purchase the HINO FC 500 Truck or bus between now and March 31, 2023, will drive away with fuel worth 75,000 shillings. The offer will cut across individuals, …
Kenya’s telecommunications giant, Safaricom PLC, has announced the appointment of Ms. Karen Kandie and Ms. Ory Okolloh as new members of the Board of Directors effective immediately as it pursues …
Tanzania’s Taifa Gas has launched in Kenya, officially posing competition for Kenyan local suppliers, a move that analysts say will lower the cost of cooking gas that is currently biting …
The alleged mysterious disappearance of cash from the bank accounts of a section of customers belonging to Equity Bank Group has landed on the floor of the Kenyan Senate. Nominated …
Kenya’s real estate company, Mi Vida Homes has finally launched one of its most affordable housing projects, KEZA, situated at the Riruta/Naivasha Road junction, further boosting the government’s efforts to …
KCB Group has announced the forming of a special team that will be mandated with recovering bad loans. The team will report directly to the Group CEO Paul Ruso. The …
The banking sector in Africa has been growing steadily over the years. There are at least 763 commercial banks located across the 54 countries that make up the African continent. …
Safaricom is set to become a purpose-led technology firm by 2025. This was revealed during the first-ever investor day held on Wednesday. During the forum, executives from Safaricom gave a …
There seems to be an explosion of skyscrapers in Africa. In every city you visit, skyscrapers are popping up overnight. The increased demand in office spaces across the continent has …
Super Metro Sacco, one of Nairobi’s leading public transport operators, announced the introduction of its first electric bus as part of its fleet. Supplied by Kenyan electric mobility startup BasiGo, …
Airtel Kenya has announced that it will introduce 5G mobile broadband services in Nairobi. The telecommunications company will target “high-income” neighborhoods within the city county because “they have the gadgets …
BDO East Africa, a public accounting, tax, and advisory firm, has expanded its Kenyan operations to serve the growing demand for outsourced financial services from the USA and European markets. …
LG Electronics is pleased to announce Dong Won Lee as its new Regional Managing Director for East Africa (EA). He replaces Sa Nyoung Kim who served as LG EA Managing …
Nairobi is a difficult city to set up and run a business, but those who do, end up making a killing. The reason why it is difficult to set up …
Kenya’s leading real estate developer, Mi Vida Homes has sold 100 percent of its one-bedroom apartments and 75 percent of its studio apartments at its latest project months before groundbreaking, …
The National Health Insurance Fund (NHIF), initially National Hospital Insurance Fund, will soon be changing its name to National Social Health Insurance Fund (NSHIF). The Cabinet Secretary for Health Susan …
The United States of America has been hit by an acute egg shortage. At least 47 states have reported a more than 90 percent drop in egg supply. The country …
Bank of Kigali has donated KSh124.5 million to its charitable arm for philanthropic support of needy groups across Rwanda. The Foundation will continue different charitable initiatives currently run under BK’s …
The Central Bank of Kenya is still in the process of vetting and approving digital lenders in Kenya. So far, the banking regulator has fully approved 22 lenders with an …
Copyright © 2023 – All Rights Reserved | Business Watch
