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Business

Kenya's KCB gets cash call go-ahead to fund lending and expansion

29 April 2016, 22:01

Kenya's KCB Group, the country's biggest lender by assets, said on Friday it had won shareholder approval to issue new shares and raise cash, allowing it to increase lending to customers and make acquisitions.

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In Kenya, portable toilets find a new role: protecting trees

29 April 2016, 17:36

A new project is using solar energy to transform toilet waste into efficient cooking fuel, in an initiative to improve hygiene for people in communities without indoor sanitation and at the same time reduce the felling of trees for charcoal.

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Kenya's rice production triples in 7 years: official

29 April 2016, 14:06

Kenya's rice production has tripled in the last seven years to nearly 150,000 tonnes in 2015, an official has said.

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Kenya bank bad debts jump to 8 pct in March - central bank

28 April 2016, 15:44

Kenyan banks' non-performing loans rose to 8 percent of the total in March from 5.7 percent in the same period last year, the central bank said.

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World Bank to boost SME lending in Kenya

28 April 2016, 10:14

IFC is collaborating with nearly ten banks and has provided close to 500 million U.S. dollars for onward lending to SMEs.

Huawei seeks to expand retailing in Kenya

27 April 2016, 14:19

Chinese telecom company Huawei on Tuesday signed a partnership deal with Kenya's mobile phones retailer FoneExpress in a retail expansion plan aimed at increasing its coverage and market share in Kenya.

Kenya Airways pilots demand resignation of CEO Mbuvi Ngunze

27 April 2016, 08:11

The Kenya Airline Pilots Association (KALPA) issued a two day strike notice to Kenya Airways on Tuesday, demanding the immediate resignation of Chief Executive Mbuvi Ngunze and criticising his turnaround strategy.

Kenya to Tender for Own Oil Pipeline After Uganda Rejection

26 April 2016, 17:03

Kenya will tender for the design of a pipeline linking oil fields in its northern region to a port being built at Lamu, after neighboring Uganda decided against building a joint conduit, the head of the Lamu Port Southern Sudan-Ethiopia Transport corridor said.

MPs seek higher deposit guarantee after bank closures

25 April 2016, 07:03

They want the amount of bank deposits guaranteed in case of a collapse by 20 times to 2 million shillings ($19,800) per customer.

Google unveils mobile app to tackle traffic gridlock in Kenya

22 April 2016, 17:31

The American internet search engine Google has unveiled a mobile application to help Kenyan motorists and commuters evade traffic gridlock that is a common feature in the capital, Nairobi.

Kenyan banks unveil code of ethics for banking sector

22 April 2016, 17:31

Kenya's banking industry body on Thursday signed the code of ethics for business that will help the financial sector address corruption and unethical practices.

Motorists to continue paying dues to KRA despite transfer of functions to NTSA

22 April 2016, 13:38

The Kenya Revenue Authority (KRA) has clarified that it still holds the sole mandate of collecting revenue from motor vehicles and auto dealers despite transferring the transport department to National Transport and Safety Authority (NTSA) in 2014.

Coke's namesake sodas see declines in key markets

22 April 2016, 13:38

Coca Cola says sales volume for sodas like Diet Coke and Cherry Coke that bear its name collectively declined in North America, Europe and the unit including the Middle East and Africa.

Mobile operators fail to meet quality standards for 3 consecutive years

21 April 2016, 11:49

Mobile phone operators have failed to meet Quality of Service (QoS) targets set by the Communications Authority of Kenya (CA) for the third year running.

Chase Bank customers to access up to KES 1 million

21 April 2016, 06:26

Chase Bank depositors will be able to access up to KES 1 million when the bank reopens on Wednesday next week.

EU set to charge Google over Android

20 April 2016, 20:01

The EU's anti-trust chief is widely expected to unveil anti-trust charges against Google's Android, the world's most popular mobile phone operating system, as she faces reporters on Wednesday.

Govt seeks to boost tax collection to cut deficit

20 April 2016, 12:09

Kenya, whose budget deficit this fiscal year unnerved investors, is recruiting new taxpayers and investing in technology to boost collections, the head of its tax agency said on Tuesday.

Chase Bank to reopen next week under KCB management

20 April 2016, 10:48

KCB Group has been appointed to manage Chase Bank and could buy a majority stake in the closed lender whose branches will reopen next week, the central bank said on Wednesday.

KRA collects KES 843 billion in nine months

20 April 2016, 07:01

The Kenya Revenue Authority (KRA) collected KES 842.5 billion in the nine months to March 2016.

Kenyan telecom giant pushes up trading at Nairobi stock market

19 April 2016, 12:54

Equity turnover at the Nairobi Securities Exchange (NSE) went up 28 percent on Monday to 5.63 million U.S. dollars supported by increased trading of Safaricom shares.

Oil producers meet amid Saudi-Iran row

18 April 2016, 21:49

Oil producers have gathered in Qatar to negotiate an output freeze, but a lingering dispute between Saudi Arabia and Iran threatens to overshadow talks.

Kenya to construct power lines to increase renewable energy output

18 April 2016, 12:46

Kenya plans to prioritize the construction of electricity transmission lines that will help in scaling up generation of renewable energy.

Kenya says financial sector crisis averted after Chase Bank collapse

17 April 2016, 09:01

Kenya has managed to stop a financial sector crisis from spreading to lending institutions after the sudden collapse of Chase Bank, a middle-level bank which lend to small and medium enterprises and corporate entities, Central Bank Governor Patrick Njoroge said on Friday.

Kenyan Takeovers in Flight to Safety

16 April 2016, 17:28

A series of bank failures is set to trigger a wave of mergers and acquisitions among Kenyan lenders as depositors seek safety in the biggest financial institutions.

Financial Indicators

KES/$ 0,0098 (1,01%)
KES/£ 0,0067 (0%)
KES/€ 0,0085 (1,16%)
KES/ZAR 0,1419 (-0,57%)
ABRI Kenya Index 146.56 (0,98%)
NSE 20 Share Index 4239.83 (0,95%)

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