Barclays unveils product lab for local developers
Barclays bank has partnered with local developers in a programme aimed at creating innovations to improve delivery of its financial services across the globe. The programme, Barclays Kenya Product Lab will give developers access to the institution’s resources to accelerate the development and adoption of new technologies in the finance sector…[…]
India advances Sh10.5bn loan for Rivatex expansion
The government of India has approved a Sh10.5 billion loan to help in the expansion of Rivatex East Africa, which is managed by Moi University. The Indian High Commissioner Yogeshwar Sharma said his country has approved $100 million (Sh10.5 billion) to help in expanding operations of the textile firm…[…]
Faulu lands Sh1 billion to fund small firms
Faulu Microfinance Bank has received Sh1 billion from European Investment Bank (EIB) to finance small businesses. EIB’s new lending deal is the first partnership with Faulu Microfinance Bank under a new EUR 50 million (Sh5.85 billion) initiative to support microfinance institutions across East Africa…[…]
Brookside to slash prices paid to milk producers
Brookside Dairy will reduce its milk producer prices by Sh4 from next month. In a message sent to all farmers, Brookside which controls about 44 per cent market share, attributed the drop to prevailing market conditions. Dairy farmers are paid according to the composition of the raw milk components (butterfat, protein and other solids) of their milk…[…]
Sri Lanka’s Sierra Cables to build plant in Kenya
Sri Lanka based Sierra Cables plans to set up a manufacturing plant in Kenya targeting East Africa’s power generation projects. According to a filing sent to the Colombo Stock Exchange dated September 21, 2015, the firm had recently done a survey in Nairobi on the feasibility of setting up a cable manufacturing plant. Currently, Kenya has a 40 per cent local content requirement on low voltage cables for public contract which may have informed Sierra’s decision…[…]