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…

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…

Equity brokerage arm gains most in 2015 Equity Investment Bank’s partnership with UK’s Exotix Partners helped push it up the ladder in 2015, leaving it among market leaders with strong foreign trading desks. EIB had 4.49 per cent market share in 2014, ranking the firm eighth among the 19 brokers…

Jambojet seeks pilots amid KQ labour case Jambojet is seeking new pilots for its fleet, signalling possible expansion plans for the airline even as its parent, Kenya Airways, faces a court case over the mode of employing flight crews. The airline in March sparked a court row with KQ pilots…

Imperial Bank owners and CBK feud over reopening delays Imperial Bank shareholders have blamed Central Bank of Kenya (CBK) over the delayed reopening of the closed bank, days after the regulator accused them of inaction. The owners also accused KDIC of failing to appoint a team…

Family Bank to sell PE funds Sh15bn stake Family Bank plans to raise as much as Sh15 billion through sale of stake to private equity (PE) firms. Family Bank shareholders will now have to create more shares to accommodate potential investors. Family Bank intends to use…

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 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…