Ecobank picks Nairobi as eastern, central, southern regional hub

Ecobank Kenya is set to be upgraded to be the regional hub of operations for 18 countries in a move that boosts Nairobi’s ambitions of being an international financial centre. The pan-African lender is restructuring its regional clustering that effectively combines eastern, southern and central Africa under one cluster headquartered in Nairobi [...]

French firm Carrefour seeks to lock out other retailers at Two Rivers

French retailer Carrefour is seeking the competition watchdog’s nod to be the sole retail operator at Two Rivers Mall, in an application that if approved could lock out other Kenyan supermarket chains that may be eyeing space in the high-end shopping complex. Carrefour has submitted to the Competition Authority of Kenya (CAK) an application for [...]

Stanlib plans Sh1.2bn Athi River mall in Kenya investment drive

South African investment firm Stanlib is increasing its investment in Kenya’s property sector with the planned construction of a Sh1.2 billion shopping mall in Athi River town, which is just outside Nairobi. South African investment firm Stanlib is increasing its investment in Kenya’s property sector with the planned construction of a Sh1.2 billion shopping mall in Athi River town [...]

Shilling properly valued against dollar, study

The Kenya shilling is most properly valued against the dollar among major currencies in Africa based on ability to buy goods, a new study says. The Kenya shilling is most properly valued against the dollar among major currencies in Africa based on ability to buy goods, a new study says. Pan-African market intelligence firm Sagaci Research used the purchasing power of 18 African currencies based on [...]

KenGen says Kenya Power holds key to lower bills

The Kenya Electricity Generating (KenGen) company says it has significantly stepped up the injection of cheaper steam and hydro energy into the national grid, but only Kenya Power has control on whether consumers’ monthly bills will come down. Increased renewable and cheaper sources fail to ease power costs for consumers [...]

Barclays Kenya CEO seeks to calm depositors’ nerves over Africa sale

Barclays Bank of Kenya (BBK) has assured its customers that it will continue operating in the country even as its London-based parent Barclays Plc reportedly plans to sell its African subsidiaries. Jeremy Awori said there are no plans at local, regional or group level to shut down its operations in the country [...]

Liberty and Pan Africa tipped to enjoy head-start when new rules kick off

Liberty and Pan Africa are likely to enjoy a head-start compared to the other insurers in the implementation of the new capital rules due to their adoption of an internal risk-based model inherited from their South African parent companies [...]

SimbaPay expands diaspora banking service to 5 States

Digital money transfer provider SimbaPay has expanded its services to five new countries as diaspora banking kicks up. SimbaPay - which began to allow Kenyans living abroad to make M-Pesa paybill payments last June - has extended its instant Africa money transfer service to France, Germany, Ireland, Italy and Spain in addition to the United Kingdom [...]