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Equity Bank

Equity bank has posted double-digit growth in profit and balance sheet for FY 2019,...

Equity bank - Kenya’s largest bank by customer base has posted a 14% jump in net profit; from Ksh 19.8 Billion in 2018 to Ksh 22.6 billion for the year ended 31st December 2019. The growth was underpinned by a 23% growth in its loan book to Ksh 366.4 billion up from Ksh 297.2 billion during a similar period in 2018. Customer...
Coronavirus

Most corporations will struggle in the wake of COVID-19, some more than others

COVID-19 is not an unsound government policy that companies can simply unite to lobby against. But that hasn’t stopped them from doing everything in their power to halt the spread of a raging Coronavirus.  It is not yet sunset, but the spread of COVID-19 has so far presented a terrible dilemma for many organizations. Some will take huge financial...

Tullow Oil reports $1.69 billion loss

Tullow Oil PLC has posted a net loss of USD 1.69 Billion for the full year ended 31 December 2019. For such a promising corporation, it posted revenues of just USD 1.68 Billion during the same period. The company has now moved to suspend dividends payments, at the same time lowering its capital expenditure to USD 350 million. Tullow Oil...
Youth

Generation Jobless – here’s a way to start out in life

Economists will tell you that a large youthful population is essentially aneconomic blessing. But official figures assembled by the World Bank paint a grim picture of desperation. Africa is home to at least 200 million youths. In Kenya alone, the youth make up 75 percent of the county’s total population. But despite these lovelynumbers, it is hard to be optimistic about Africa’s future.
Desert Locusts

China is deploying an army of 100,000 ducks to fight locusts

An army of over one hundred thousand Chinese Ducks is waiting to be deployed to Pakistan to deal with desert locusts that have been plaguing the country. According to Bloomberg News, each duck is expected to devour at least 200 locusts. Experts say the use of ducks as a biological weapon is a more viable option that will produce remarkable results compared to...
AWS

Mobile operator is adapting to the rise of cloud computing

Telco giant Safaricom is partnering with Amazon’s cloud computing arm AWS (Amazon Web Services) in a bid to foster digital transformation in the country. Cloud computing is essentially networks of data centers that use the internet to supply all kinds of services, from e-mail and social networks to data storage and analysis. ...

INSIGHTS

MARKETS

KCB profitability starts 2018 on a 14 percent high

With Sh418 billion loans the Kenya Commercial Bank was able to make a net profit of Sh5.18 billion by March this year a 14...

British firm takes tight grip of Stanbic Bank

British financial firm, Stanbic Africa Holdings Limited (SAHL) has announced plans to buy 15 percent stake in Stanbic Bank headquartered in Johannesburg. The lender which...

BUSINESS AND MONEY

Absa bank

Absa bank will pay suppliers within a fortnight

Late payments create all sorts of cash flow headaches. In the wake of the coronavirus pandemic and its horrifying economic effects, a cash flow...
Chatbot

Zuri, Safaricom’s AI-powered Chatbot comes to WhatsApp

Whenever a Kenyan is put on hold by a Safaricom customer care agent, they will automatically catch feelings. Even more...

JOBS

More Kenyan companies lay off employees

Kenyan companies continue to lay off employees as they try to remain afloat following the difficult economic environment. Most are offering employees early retirement packages...

Barclays Bank Kenya counter stable amid announcement of new name

Local investors reacted to Barclays change of name to potentially ABSA Kenya limited by moving 4.48 million shares worth 49.8 million inching the lenders...

Bamburi cement roots for Hydraulic Road Binders in road construction

Bamburi Cement has urged the government and players in road construction to incorporate Hydraulic Road Binders (HRBs) into existing road design manuals and specifications...

Jobs: Postbank is hunting for a Human Resource Manager

Postbank is a leading Savings Bank, with a nationwide network and offering a wide range of financial services. Postbank is seeking to recruit a high...

OTHER NEWS

Nairobi is a Key link to China’s Belt and Road...

Kenya through its capital city Nairobi will play a major link role in the Chinese signature global infrastructure project eyeing to move at least...

Questions CMA wants former Uchumi bosses to answer

Barely a month after being left off the hook, three former Uchumi directors James Murigu, Bartholomew Ragalo and Joyce Ogundo are back on the...

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