Category: Economy&Finance
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PHOTO | Courtesy E-commerce firm, NovaPLUS has rolled out its services in Kenya riding on its digital business discovery, e-commerce advertising, and comprehensive business directory features to grow its market share. according to the firm, entry into the Kenya market is driven by it quest to democratize digital visibility by offering enterprises verified listings and…
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I&M Bank’s Communications and Outreach Programs Officer, Racheal Kulanyi (second from left) joins other stakeholders for a photo opportunity following the announcement of the partnership. The Uganda Green Enterprise Finance Accelerator (UGEFA) and I&M Bank Uganda, are delighted to announce the beginning of a dynamic new partnership, focused on accelerating Uganda’s shift to a resilient,…
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The Ethics and Anti-Corruption Commission (EACC) has started the process of auctioning 10 high-value properties belonging to four associates of former Migori Governor Okoth Obado in a bid to recover Sh505 million said to have been lost from public funds. EACC has contracted three firms—Galaxy Auctioneers, Keysian Auctioneers and Astorion Auctioneers—to handle the sales. The…
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Exif_JPEG_PICTURE A group of retired Standard Chartered Bank Kenya staff not included in the “629 pensioners” category accused the bank and its pension trustees of ignoring multiple court rulings that found the lender unlawfully miscalculated their benefits. Through their lawyer Danstan Omari, the “non-629” members, said the bank had consistently defied the Retirement Benefits Tribunal,…
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The Board of Directors of Diamond Trust Bank Kenya Limited (NSE: DTK) announced the planned sale of its stake in DTB Burundi (“the proposed transaction”), following the signing of a conditional sale and purchase agreement with a consortium of primarily Burundian-based investors, including its existing minority shareholder. The DTB Kenya Board confirmed that the proposed…
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Mohammed Nyaoga. PHOTO/COURTESY Absa Bank Kenya has announced the appointment of Mohammed Nyaoga as the new Chairman of its Board of Directors, effective October 1, 2025. His appointment comes as Charles Muchene concludes his full nine-year term on September 30, 2025, marking the end of a period the bank describes as one of transformation, stability,…
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Elon Musk. PHOTO/COURTESY Tesla’s fortunes flickered brighter on Monday after a surprise revelation that Elon Musk had snapped up fresh stock worth Sh146.5 billion. The billionaire’s purchase, covering roughly 2.5 million shares, was completed on Friday and marked his first open-market buy since 2020. The disclosure lifted investor sentiment instantly. Within hours of the filing,…
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Treasury Bills. PHOTO/COURTESY The government’s one-year Treasury bill continued to dominate investor attention last week, pulling in bids of Sh23.1 billion against the Sh10 billion on offer, new data from the Central Bank of Kenya (CBK) shows. This pushed the performance rate for the paper to 231 per cent, cementing the security’s place as the…
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David Mugonyi. PHOTO/COURTESY Courier and postal operators in Kenya may soon face a far steeper cost of doing business, after the Communications Authority of Kenya (CA) unveiled plans to introduce a Sh1.5 million licensing fee as part of a major restructuring of the sector. The changes, announced on Tuesday by CA Director General David Mugonyi,…
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Kellen Kariuki. PHOTO/COURTESY Standard Chartered Bank Kenya Limited has issued a warning that its earnings for 2025 are expected to fall sharply by about 25 per cent, with the bank projecting a significant contraction in profit after tax compared with the previous year. The disclosure comes as the lender factors in the financial impact of…