Equity Bank reports drop in staff costs as 660 workers exit Equity Bank staff numbers declined by 660 last year in what the lender attributed to natural attrition, pointing to a gloomy job market in the financial sector. Equity Bank reported a four-per cent decline in…

CBK to sell five and 10-year Treasury bonds The Central Bank of Kenya said on Friday it will sell five-year and 10-year Treasury bonds worth Sh25 billion in February. The bank said in a statement it will receive bids for the two bonds between February 12…

Safaricom’s digital TV decoder sales double after price cut The sales of Safaricom’s Internet-enabled digital TV decoders has doubled after it slashed its pricing by 50 per cent in November. In November Safaricom cut the decoder prices to Sh4,999 from the previous Sh10,000 in a re-launch that…

Negative net-worth to stalk KQ investors for 4 years Kenya Airways shareholders are likely to be stuck with a negative net-worth position for the next four years even if the company’s profit position recovers under the restructuring, analysts at Genghis Capital say. KQ is yet to…

Centum to build 12MW plants for Two Rivers Mall Centum Investment is constructing solar and diesel power plants that will generate 12 megawatts (MW) of electricity to power its Two Rivers Development, a real estate project that is designed to host the largest shopping mall in…

Tobacco farmers to lose as sponsor scales down operations Global raw tobacco merchant, Alliance One International, has announced plans to scale down its operations in Kenya, a move expected to hit farmers hard. Its core operations involve sponsoring farmers to produce tobacco mainly in Migori County, processing and exporting to…