Competition hots up for KQ as Fastjet enters Nairobi Low-cost carrier Fastjet is set to launch Tanzania to Nairobi flights on Monday, stepping up competition for Kenya Airways (KQ) and its associate Precision Air which also fly the same routes. Fastjet has announced daily flights from…

Safaricom M-Pesa transfers across borders hit Sh17bn The value of cross-border M-Pesa transactions has hit Sh17 billion four years since the service was introduced, indicating a high growth potential for mobile money transfers in facilitating international remittances and business transactions. Safaricom says the uptake of M-Pesa…

Britam profit alert pushes the tally for the year to a record high of 14 Britam Holdings has announced its 2015 profit will fall below last year’s, becoming company number 14 to issue a profit warning. Britam attributed this to a depressed economy that had slowed…

Jamii Bora targets global lenders for Sh1.6bn expansion loan Jamii Bora Bank is hoping to get an unsecured Sh1.6 billion convertible loan in January. The loan will be provided by three international lenders whom the management declined to disclose as they are still conducting due diligence…

Some of the key highlights were:  The NSE 20 Share Index gained 3.8% to close at 4016 compared to 3868 in October while the NSE All Share Index gained 4.72% to close at 143 compared to 137 in October. Equity Turnover for the month of November dropped by 26.28% to KES 13.15…

Mumias share price up on Comesa safeguards extension Mumias Sugar Company shares at the Nairobi Securities Exchange (NSE) rose 6.7 per cent Tuesday following the extension of the Common Market for Eastern and Southern Africa (Comesa) quantitative safeguards that give a lifeline to the industry for…

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…

CA imposes stiffer penalty for poor telecom services The Communications Authority of Kenya (CA) board has set 0.2 per cent of the annual gross turnover as the penalty for telecommunication firms that offer substandard services, setting the companies up for heavier fines […]…

Umeme Limited Top Gainer as Eaagads Limited Declines Umeme Limited (UMME)  was the top gainer of the day. It gained 9.94% to close at KES 18.80, which was a KES 1.70 gain in share price. Eaagads Limited (EGAD) was the top loser of the day. It had a loss of…

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,…