Safaricom/Equity Battle Heats Up Even Further
The Communications Authority (CA) has defended its decision to award Equity Bank a mobile virtual network operator (MVNO) licence with which the lender is seeking to penetrate mobile banking industry. Equity has said it applied for and was awarded an application service provider and a content service provider…
Four lenders broke banking rules in 2013 – CBK report
The Business Daily reported that low-income earners shun banks over fear of losing savings. The study found that most low-income earners see banks as lacking in transparency and accountability, making it difficult for them to pursue any loss of funds or even negotiate flexible financing for their needs…
Could Kenya Actually Use Bitcoin?
In its story, Five Economies That Could Actually Use Bitcoin Vice.com highlights Kenya as one of the countries that could mainstream bitcoin adoption. Kenya is a world leader in mobile money. The mobile payment network M-PESA, which is thought to be the most developed of its kind in the world,…
7th August, 2014: 5 things you should know this morning
Future Developments Nairobi County is planning to erect a 17-floor commercial and office space structure on the Sunken Car Park land adjacent to the Aga Khan Walk and Harambee Avenue. Kenya plans to build five national stadiums in Kisumu, Mombasa, Nakuru, Eldoret and Garissa to lift standards of sports and…
6th August: 5 Things You Should know this Morning
Sh1 billion Sacco real estate Thika Project Kiambu-based Urithi Housing Cooperative Society has launched a Sh1 billion residential project, City Edge, in Kilimambogo on the outskirts of Thika town, targeting its 6,000 members. Under the scheme, members contributed Sh355,000 to acquire the 100-acre land and the sacco will help…
NSE filings reveal Sh1m monthly pay for chief executive
Mr Mwangi, who took over as CEO of the 60-year old securities exchange in November 2008, received a total pay-out of Sh13.5 million last year compared to Sh10.1 million earned in his first full-year at the helm. This is a 34% jump… The Nairobi Securities Exchange has recorded…
NSE Looks to Make Money from Countries Without Functional Economies
The NSE is looking to expand it’s revenue streams: by going into countries without actual functional economies, and on embargo lists across the world. Huh. NSE signed a memorandum of understanding with the Somalia Stock Exchange Investment Corporation (SSE) to co-operate in establishing a stock market in the war ravaged…
NSSF Compliant. Really?
Interesting: The compliance wasn’t achieved through offloading their properties, but by a reclassification in asset classes, resulting in an almost 90% value-drop. Following a reclassification of its Nyayo Estate in Embakasi to a tenant purchase scheme, NSSF cut its combined land and property holdings to Sh29 billion, representing 22 per…
The Morning Brief – Wed, 16th July, 2014
Stockbrokers’ Commissions on the Rise Data from the Nairobi Securities Exchange (NSE) shows that RenCap accounted for 16.7 per cent of the total Sh200 billion in combined sales and purchases, edging out SBG Securities and Kestrel Capital in a tight battle for market share. SBG controlled 15.9 per…
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