Stanlib extends debut Reit sale by week after investors seek clarity
Stanlib extends debut Reit sale by week after investors seek clarity The sale of Stanlib Investments debut Real Estate Investment Trust (Reit) has been extended by one week after the issuer asked for more time in response to investor queries. The investment firm said fund, pension…
Safaricom out to link 2,000 more homes with fibre optic cable
Safaricom out to link 2,000 more homes with fibre optic cable Safaricom is seeking to connect 2,000 more homes to its fibre optic network by the end of the year in a bid to reduce reliance on voice business as a profit driver. Jamii Telecom’s Jamii…
ARM halts Kitui plant plans to sort out debts, shape up Tanzania unit
ARM halts Kitui plant plans to sort out debts, shape up Tanzania unit Athi River Mining (ARM) has postponed plans to build a new plant in Kitui until it sorts out its debts and shapes up its Tanzanian operations. The firm stated that it would build…
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…
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,…
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…
Seven bank stocks touch one-year low at NSE trading
Seven bank stocks touch one-year low at NSE trading Seven banking counters at the Nairobi Securities Exchange (NSE) on Wednesday touched a one-year low as the market responded to the sudden closure of Imperial Bank leading to the indicative NSE 20 share index dropping to levels…
KenGen ups dividend payout as profit jumps threefold to Sh11.5bn
KenGen ups dividend payout as profit jumps threefold to Sh11.5bn Kenya Electricity Generating Company (KenGen) has raised its dividend payout by 62.5 per cent after recording a threefold jump in net profit in the year ended June, powered by increased sales and a tax credit. KenGen’s…
Weak shilling lifts central bank’s profit to Sh48bn
Weak shilling lifts central bank’s profit to Sh48bn CBK made a Sh7.3 billion profit from ordinary operations compared to the Sh751 million loss it reported last year. A weak shilling also boosted the CBK’s operating profits mainly arising from forex gains made from sale of dollars…
1
