M-Pesa airtime top-ups hit scratch card dealers
M-Pesa airtime top-ups hit scratch card dealers Safaricom’s airtime dealers are seeing their commissions squeezed as the volume of top-ups made directly from the telecom operator’s M-Pesa platform outpaces the growth of scratch cards. The volume of M-Pesa airtime top-ups peaked at 38 per cent in…
How Imperial Bank chief stole savers’ billions
How Imperial Bank chief stole savers’ billions Imperial Bank’s former managing director Abdulmalek Janmohamed ran an elaborate fraud scheme that robbed the lender of Sh34 billion over a period of 13 years, forcing the central bank to shut it down earlier this month.. Mr Janmohamed siphoned…
Equity processing 74 per cent of loans via Equitel mobile platform
Equity processing 74 per cent of loans via Equitel mobile platform Equity Bank processed 74 per cent of the loans disbursed this year through its mobile phone platform Equitel, the lender’s management said Monday. The bank said 1.2 million loans worth Sh5.4 billion have been processed…
EABL loses Sh240m claim against former top manager
EABL loses Sh240m claim against former top manager Beer maker East African Breweries Limited has lost a Sh240 million claim against an ex-employee whom it accused of using a shell company to steal from the firm. High Court judge Joseph Sergon on Friday dismissed a…
Stanlib to buy Greenspan Mall with first Sh12bn Reit offering
Stanlib to buy Greenspan Mall with first Sh12bn Reit offering Stanlib Investments is set to buy Greenspan Mall in Donholm, Nairobi, with proceeds from Kenya’s first ever Real Estate Investment Trust (Reit) sales. Stanlib Investments plans to raise as much as Sh12.5 billion through the initial…
Closing Bell: Kakuzi Limited Top Gainer as Williamson Tea Kenya Limited Declines
Kakuzi Limited Top Gainer as Williamson Tea Kenya Limited Declines Kakuzi Limited (KUKZ) was the top gainer of the day. It gained 10% to close at KES 330.00 which was a KES 30.00 gain in share price. Williamson Tea Kenya Limited (WTK) was the top loser of the day. It…
Jubilee maintains market lead with 12.6pc of revenue
Jubilee maintains market lead with 12.6pc of revenue Jubilee Insurance has maintained its market leader position in the first half of the year, beating off competition from close rivals Britam and ICEA Lion. Jubilee’s market share stood at 12.6 per cent as at June this year,…
Closing Bell: Uchumi Supermarket Limited Top Gainer as Car & General (Kenya) Ltd Declines
Uchumi Supermarket Limited Top Gainer as Car & General (Kenya) Ltd Declines Uchumi Supermarket Limited (UCHM) was the top gainer of the day. It gained 6.99% to close at KES 9.95 which was a KES 0.65 gain in share price. Car & General (Kenya) Ltd (C&G) was the top loser…
Airtel sets flat roaming tariff for16 African countries
Airtel sets flat roaming tariff for16 African countries Airtel has introduced a flat rate tariff for its Kenya subscribers travelling to 16 countries in Africa in which it has presence, reducing the cost of making roaming calls by between 85 and 32.4 per cent. Airtel’s customers…
Closing Bell: Olympia Capital Holdings Ltd Top Gainer as Atlas Development and Support Services Ltd Declines
Olympia Capital Holdings Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Olympia Capital Holdings Ltd (OCH) was the top gainer of the day. It gained 8.89% to close at KES 4.90 which was a KES 0.40 gain in share price. Atlas Development and Support Services Ltd (ADSS)…
Barclays to charge clients higher fees from next month to boost earnings
Barclays to charge clients higher fees from next month to boost earnings Barclays Bank plans to raise the fees charged customers next month joining a growing list of lenders that have raised transaction tariffs to shore up their profitability. Banks are under pressure to increase their…
KQ to face stiffer competition with planned open skies policy
KQ to face stiffer competition with planned open skies policy The national carrier Kenya Airways and its budget subsidiary Jambojet could see their dominance on domestic routes challenged following the government’s announcement that it is working toward implementing the open skies policy to allow more airlines…
Closing Bell: Car & General (Kenya) Ltd Top Gainer as Atlas Development and Support Services Ltd Declines
Car & General (Kenya) Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Car & General (Kenya) Ltd (C&G) was the top gainer of the day. It gained 9.38% to close at KES 43.75 which was a KES 3.75 gain in share price. Atlas Development and Support Services…
High interest on bonds to hit bank, insurers’ earnings
High interest on bonds to hit bank, insurers’ earnings Banks and insurance companies’ earnings are expected to take a hit from unrealised losses arising from the recent hike in interest rates for Treasury bills and bonds. Interest rates of the bills have shot to 20.6 per…
ERC NEW PRICES FOR PETROLEUM PRODUCTS
According to the recently released petroleum prices by ERC, on the 14th of October, the changes in the maximum allowed petroleum pump price is as follows: Super Petrol reduces by KES 9.36 per litre,Diesel increases by KES 2.44 per litre and Kerosene increases by KES 3.49 per litre. According to…
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