Kenya's tea earnings to likely fall in 2016, regulator says

Kenya is the world's leading exporter of black tea with the commodity being a major foreign exchange earner. The Agricultural, Fisheries and Food Authority (AFFA) said total output fell 10 per cent to 399.21 million kg in 2015 [...]

Barclays set to start offering agency banking in March

Barclays Bank of Kenya plans to start agency banking, which will make it the first international lender to embrace the model. The bank is expected to start contracting agents before the end of March. This will also signal plans by Barclays, largely viewed as a corporate lender, to delve deeper into retail business [...]

Shilling outperforms most African currencies since start of 2016

The Kenya shilling has outperformed the majority of other African currencies in their exchange rate to the dollar since the beginning of the year. The shilling’s stable opening to the year has been brought about by benign dollar demand in the market, as well as balanced liquidity that has reduced volatility [...]

Nigeria firm buys 49pc Continental Reinsurance stake

Continental Reinsurance, which holds a 3.5 per cent in the Kenyan reinsurance market, has sold a 49-per cent stake to Nigeria-based African Capital Alliance [...]

Kenya tops East Africa with most infrastructure projects last year

Kenya had the highest number of infrastructure deals in East Africa last year on the back of mega real estate projects and the standard gauge railway, says a report by financial consultancy Deloitte [...]

Mystery of Imperial Bank savers who have defied calls to collect their cash

The mystery surrounding Imperial Bank’s collapse has deepened in recent weeks with the failure by thousands of depositors to claim their cash from the bank. Governor says action points to bank’s possible involvement in a money laundering scheme [...]

Airtel founder meets Uhuru amid Sh2.7 billion licence row

Sunil Bharti Mittal made the visit at a time when Airtel Kenya is grappling with a number of regulatory challenges. Airtel’s operating licence expired in February last year and its renewal remains uncertain as it fights payment of a Sh2.7 billion fee. The firm's licensing has been entangled in intrigues, with reports that the CA had initially waived the fee before making an about turn to reinstate it [...]

Morocco national carrier to launch Nairobi flights in March

Morocco’s national carrier, Royal Air Maroc, is set to launch direct flights between Nairobi and Casablanca on March 31, significantly reducing the cost and distance of travel between the cities. The move is also expected to increase trade between the countries [...]

M-Kopa set to launch solar-powered digital TV sets

Solar energy financier M-Kopa is set to launch digital, solar-powered television sets targeting customers living in areas with no access to the national electricity grid. The TV package is expected to be available from mid this year. M-Kopa says free-to-air channels will be available on the sets [...]

Kenya Airways cancels flights to Cameroon's main airport

Kenya Airways (KQ) has cancelled all flights to Cameroon's main air terminal for three weeks beginning March 1 after aviation authorities closed the facility for repairs [...]

Naikuni appointed Prudential Life chair

Former Kenya Airways (KQ) CEO, Titus Naikuni, has been appointed the chairman of Prudential Life Assurance Kenya with immediate effect [...]