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…
Eveready inks distribution deal with US-based manufacturer
Eveready inks distribution deal with US-based manufacturer Eveready East Africa Ltd has partnered with Clorox sub-Sahara Africa Ltd – a regional subsidiary of the global household products manufacturer Clorox – to supply and distribute household products such as bleaches under the brand name Clorox. According to…
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…
Jambojet seeks pilots amid KQ labour case
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…
Britam profit alert pushes the tally for the year to a record high of 14
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…
500 to lose jobs in Telkom Kenya layoffs
500 to lose jobs in Telkom Kenya layoffs Five hundred employees of Telkom Kenya could lose their jobs in a restructuring plan announced by the company which is in acquisition talks with private equity fund Helios Investment Partners. Telkom Kenya has indicated that the layoffs are…
Crown Paints’ Sh400m Kisumu plant set for January launch
Crown Paints’ Sh400m Kisumu plant set for January launch Crown Paints will open a Sh400 million plant in Kisumu in January to cut costs and capture a larger share of the growing real estate market in the western region. The company is seeking to increase its…
Telkom targets Sh1bn from assets sale across country
Telkom targets Sh1bn from assets sale across country Telkom Kenya has stepped up the sale of its assets with a listing of 17 properties across the country that are estimated to be valued at Sh1 billion. The fire sale comes at a time when Telkom Kenya’s…
Safaricom’s share of voice market drops as Airtel, Orange gain
Safaricom’s share of voice market drops as Airtel, Orange gain Safaricom’s share of the mobile phone communications voice market has dropped by 3.8 percentage points in the past year, as the company ceded ground to rival telcos Airtel and Telkom Kenya. Industry data released by the…
Russian firm sues KenGen in Sh14.4bn tender dispute
Russian firm sues KenGen in Sh14.4bn tender dispute Russian firm OJSC Power Machines has accused electricity generator KenGen of favouring a rival company competing for a Sh14.4 billion tender for the supply of geothermal power generation units to be used in the Ol Karia V…
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