Ecobank to Roll out More ATMs, Branches
Ecobank has announced that it will be deploying several Automated Teller Machines (ATMs) in strategic locations across the country before the end of the year. Speaking during the awarding of winners of Ecobank’s Angukia hao promotion, Ecobank Kenya Managing Director Tony Okpanachi said this will…
Kengen Profit Rises 36 pc to 2.8 Billion
Kenya’s largest independent power producer Kengen has released its financial results for the year ended June with net profit rising 35 percent to 2.8 billion shillings from 2.08 billion shillings posted last year. The company’s growth in earnings was driven by higher revenues from newly commissioned power plants namely…
The Stocks We Are Watching Today
Here are the shares we will be closely watching in today’s trading at the Nairobi Securities Exchange: KenGen – The stock closed at KES 8.35 yesterday but has seen fluctuations from KES 7.20 to KES 10.12 in the last 52 weeks. It has announced a dividend…
International Hotel Chains commit to invest in Kenya
More than half a dozen leading International hotels have confirmed plans to set up their operations in Kenya, as one of the key outcomes in the on-going Africa Hotel and Investment Forum (AHIF) conference. The two-day conference hosted by the Kenya Tourist Development Corporation (KTDC) appears…
Does Agent Banking Threaten M-Pesa?
What did Banks do when the rolled out agency Banking? They targeted these outlets to double up as their agents. It worked out nicely to begin with because the concept was easier to sell to people already involved in provision of financial services. And M-Pesa got mad, very mad.
8 Things You Should Know this Morning
1. City Hall Sends Notice to Defaulters City rate defaulters could lose their property if they fail to pay full arrears and penalties as the City Council of Nairobi (CCN) prepares to move to court, seeking orders to take over plots and houses.City Hall told the Business Daily it had on…
Brand New Rail System, Coming Soon
The Kenya government has made plans to start the construction of a new railway line, linking Mombasa Kampala, through Malaba. According to the Ministry of Transport, Kenya is set to receive a brand new railway that will put the old one to shame. Aviation, Tourism, Travel and…
The Stock Market Today
A summary of share trading activity at the stock market today
The Balanced Money Formula
The Balanced Money Formula, also referred to as the 50-30-20 Balanced Money Formula, is a budgeting guideline proposed by Elizabeth Warren and Amelia Tyagi. It’s based on the ideas that work and no play creates a mindset of deprivation. It is thus ideal for those who love spending,…
Numbers Say: Agriculture vs Real Estate
Hypothetical Situation: you have an idle 1-acre piece of land that you intend to make money off. You’re paying land rates and the value of the land is increasing slowly, but it’s not translating to any cash flow. With that piece of land, would you take…
Free Education Program Funds Released
The treasury has released KES 6.3 billion for Free Primary and Free Day Secondary Education. Approximately 6,075,706 children will benefit from this funds, which have increased the primary education completion rate to over 95% today from 62% in 2002. Education Minister Mutula Kilonzo had asked for KES 1.77 billion for Free Primary Education. he had also…
Private Schools Could Pay Extra in Fees
The Ministry of Education has rejected a petition by private schools to close in early November as planned, saying that they will have to run their school terms for an extra 3 weeks like the rest. This means that parents might be asked to pay additional school…
Housing Loans: Know Your Options
Applying for a mortgage is a task that should not be taken lightly. Despite there being a variety of mortgage lenders in the country, not many people know what the best rates are. Based on data collected from Hass Consult, one of Kenya’s biggest…
Couple Wins House In Ecobank's Promotion
Sophie and Berry Odhiambo won a 3 bedroom bungalow worth KES 5 million in Ecobank’s Angukia Hao na Ecobank promotion. The promotion was a three month deposit mobilization. Joseph Kipkirui Ngetich and David Mwangi Rukwaro, first and second runners up took home KES 1,000,000 and KES 500,000 respectively.
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