Safaricom yet to agree with Vodafone on M-Pesa royalty charges
Safaricom yet to agree with Vodafone on M-Pesa royalty charges Safaricom is yet to agree with Vodafone on new M-Pesa royalty fees nearly a year since the two telcos opened talks following the migration of M-Pesa servers from Germany. The relocation of M-Pesa servers to Kenya…
Interest income lifts KCB net profit to Sh19.6 billion
Interest income lifts KCB net profit to Sh19.6 billion KCB Group posted a 16.4 per cent jump in after-tax profit in the year ended December on the back of increased interest income from the mainstay lending business. The company has declared a dividend of Sh2 per…
Ex-KRA boss bets big on KQ with 1.1m share deal
Ex-KRA boss bets big on KQ with 1.1m share deal Michael Waweru is now the seventh-largest local individual shareholder of Kenya Airways, holding a stake valued at about Sh5.1 million at current market price. He joins billionaire investor Chris Kirubi who acquired 2.1 million shares of…
CFC Stanbic, BOC Kenya chief executives resign
CFC Stanbic, BOC Kenya chief executives resign The CEOs of Nairobi Securities Exchange-listed firms CfC Stanbic Holdings and BOC Kenya Ltd have resigned, leaving their firms with the task of hiring their replacements. CfC’s chief executive Kitili Mbathi resigned Friday and has been…
Equity scales up security for its online, phone banking
Equity scales up security for its online, phone banking Equity Bank has entered into an agreement with a South Africa-based authentication firm, Entersekt, to strengthen security of its online and mobile phone based services as it seeks to deepen its presence in digital banking. Equity Bank…
Centum seeks more shares of Coca-Cola bottling firms
Centum seeks more shares of Coca-Cola bottling firms NSE-listed investment company Centum is set to buy more shares in Almasi Beverages, signalling its intention to possibly take full ownership of the holding company of three Coca-Cola bottlers that it owns. Centum has made a limited offer…
Uchumi targets Sh5bn from new strategic investor
Uchumi targets Sh5bn from new strategic investor Uchumi Supermarkets is looking for a strategic investor to take a controlling stake in the retailer in exchange for a Sh5 billion capital injection. Uchumi plans to create an additional one billion shares to accommodate the new investor, which…
Senate endorses report that calls for sacking of KQ boss
Senate endorses report that calls for sacking of KQ boss The Senate on Thursday endorsed a report calling for the sacking of Kenya Airways chief executive Mbuvi Ngunze and possible prosecution of his predecessor Titus Naikuni. This came after the Senate unanimously adopted a report by the…
CfC Stanbic sees a rise in corporate bond issuance
CfC Stanbic sees a rise in corporate bond issuance Standard Bank of South Africa majority-owned CfC Stanbic expects an increase in corporate bond issues in the coming year. The bank projects an increase from this year’s issuance of about Sh14 billion, which is lower than previous…
Uchumi battles to recover Sh2bn from landlords
Uchumi battles to recover Sh2bn from landlords Uchumi had committed to open more than 20 outlets in Kenya in the mid-term and had reserved space in malls such as Centum-owned Two Rivers, Sarit Centre, Lake Basin Mall in Kisumu and Kenyatta University’s Unicity. The payments now…
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