SBM Bank (Kenya) Limited Board has announced the appointment of Mr. Bhartesh Shah as its new Chief Executive Officer (CEO), effective May 9th, 2024. Mr. Shah will assume the role of CEO, following the departure of Mr. Moezz Mir who…
Coca-Cola Co. is advancing plans for a significant initial public offering of its African bottling arm as soon as 2025, with a valuation that could exceed US$8 billion. This major financial move is set to end a period of sluggish…
Capital Markets Authority of Kenya has given the greenlight to five new firms to operate in the industry in different capacities in the latest move to deepen and develop the capital markets. In line with the Capital Markets (Licensing Requirements)…
Kenya’s Gross Domestic Product (GDP) growth is projected to slow down to 5% in 2024 from 5.3% in 2023 before jumping to 5.3% in 2025. Apart from Kenya, Côte d’Ivoire and Benin, other frontier markets are expected to start issuing…
Africa’s massive debt load and the nature of many of its resource-backed loans are compromising its economic potential, the African Development Bank’s (AfDB) President Akinwumi Adesina said recently. “I think it’s time for us to have debt transparency accountability and…
Tappi, an end-to-end digital commerce SaaS solution tailored for Africa’s MSMEs, has signed a Memorandum of Understanding with the Kenya National Chamber of Commerce and Industry (KNCCI) to deliver digital services specifically geared towards bolstering online credibility and identity for…
TotalEnergies Marketing Kenya Plc’s net profit increased to KSh 3.02 billion in 2023 from KSh 2.44 billion in 2022 despite a decline in global oil and gas prices and a weakening Kenya Shilling against the US Dollar as sharp increases…
Mastercard has partnered with Johannesburg-based fintech company SAVA to bolster financial inclusion for small and medium-sized businesses (SMMEs) in Africa. This collaboration aims to equip SMMEs in South Africa, Nigeria, Kenya, and Egypt with innovative financial tools to streamline their…
Absa Life Assurance Kenya (Absa Life), an Absa Group subsidiary, has reported an increase in gross profit to KSh 862 million in 2023. “Absa Life continues to maintain a healthy quality of portfolio in the products we provide to the…
The African Development Bank Group (AfDB) has reached a negotiated settlement with China Henan International Cooperation Group over failure to disclose it used a commission agent for a road project in Uganda. China Henan found itself on the wrong side…
The UK has removed export tariffs for cut flowers for two years, with the aim of making trade with the UK easier and cheaper for growers in East Africa and beyond. The suspension of 8 per cent duty for cut…
Dr Peter Mwesige has joined the Collaboration on International ICT Policy for East and Southern Africa (CIPESA) where he is the chief of Party of their USAID funded project, Your Rights Activity. The project seeks to support rights activists, especially those…
From Left: KCB Group, Finance Director, Lawrence Kimathi, Group Chairman, Dr. Joseph Kinyua and Group CEO, Paul Russo exchange notes during the release of the 2023 Full Year Financial results. KCB Group recorded a decline in net profit in 2023…
KCB Group, Chief Executive Officer, Paul Russo KCB Group CEO Paul Russo has confirmed that the regional lender is in the process of selling its struggling subsidiary National Bank to Nigerian lender Access Bank. “The board evaluated three options and…
NCBA Group, a Leader in the Kenyan financial services sector, has today signed a USD 50 million facility with Proparco a subsidiary of the AFD Group focused on private sector development. The funding will go towards delivering NCBA`s “Change the…