Latest Showdown Sees Equity Bank Move Second Place to KCB
Yesterday’s half-year profit announcement by two of Kenya’s biggest banks saw Kenya Commercial Bank re-emerge as the country’s most profitable bank after posting 1 billion shillings more profit than Equity Bank which settled for second position after enjoying a brief period at the helm.
WB to Give KES 3 Billion Funding for Fishermen
Fishing in the coastal region will get a KES 3 billion boost in funds from the World Bank through the government. According to Fisheries Development minister, Amason Kingi, the money will be channelled to the Government through the Kenya Marine and Fisheries Institute. Local fishermen in the coast…
KQ's Local Carrying Capacity Falls 5%
Kenya Airways’ (KQ) local carrying capacity has fallen 5% for the 2nd quarter of 2012. Earlier this year the airliner traded its large Boeing 737 for the smaller Embraer 190 (E190) models, reducing the space available for both Kenyan-based passengers and their cargo. According to the company’s press release, KQ…
CMC Shareholders demand AGM, Full year accounts
Minority shareholders at CMC Holdings Ltd will on Friday, July 27th 2012 hold a press conference to demand a date for the overdue Annual General Meeting. As a statutory requirement according to the Company Act, CMC which last held its AGM on March 4th 2011 should have already held its AGM…
Containers Over 28 Tonnes Banned from Roads
Transit of containers weighing over 28 tons by road will be prohibited. Instead, such cargo will be required to be transported over rail, which has only been carrying about 4% of its original design capacity due to its deteriorated state. Transport Permanent Secretary Cyrus Njiru…
Treasury Blamed For NHC’s Inability to Provide Housing.
Ministry of Housing has accused the Treasury of not honouring its promise to pump 4.6 billion in National Housing Cooperation (NHC), a fact that has hampered NHC’s ability to provide adequate and affordable housing for the country. While speaking to the media,…
KCB Half-Year Earnings Due Today as Share Hits Three Year Peak
Kenya Commercial Bank, the top ranked bank in Kenya last year, is to announce its half-year profit for this year at 1.00 pm today, one day after the bank’s shares yesterday climbed to their highest price of just under three years at the Nairobi Securities Exchange.
Pay Your KAPS Parking Ticket With Airtel Money
Airtel Kenya and Kenya Airport Parking Services (KAPS) have launched a three year partnership that will allow Airtel customers to pay for their tickets using Airtel Money at parking spaces run by KAPS. This new service is aimed at reducing time wasted…
Tea Output Records a 11.4% Drop Despite Healthy Market
The volume of tea produced in the country during the first half of this year has dropped 11.4% to 158.1 million kilograms down from the 178.4 million kilograms produced during the same period last year. The Tea Board of Kenya has attributed the decline in production to poor weather…
Agrochemical Sector Face a Possible KES 1Billion in Losses
The Agrochemical Association of Kenya (AAK) believes that the proposed 2012 Value Added Tax (VAT) bill may pose a major threat to the agriculture industry. In a fresh outcry for clemency, the Association noted that farmers, agrochemical manufactures, retailers and consumers may have to pay more for their…
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