BUSINESS NEWS
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Outgoing Equity bank Chairman Peter Munga,76, is set to pocket Sh50 million as a thank you token from the lender.
The package is in appreciation of his long service to the bank, which has become one of the most profitable lenders in Kenya and East Africa under his watch.
The sendoff package has…
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United States IT firm, Cisco has launched a Sh69 million incubation hub in Nairobi.
In a statement, the California-based company says the incubation center targets Small, Medium and Micro Enterprises (SMME’s) in the Kenyan ICT space.
The center is Cisco's first in East Africa and second in…
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Foreign currency deposits in Kenyan banks hit Sh581.9 billion in 2018, the latest data from the Central Bank of Kenya (CBK) shows.
This represents a 21.6 percent growth compared to Sh478.8 billion at the end of 2017.
Diaspora remittances have been named among the major drivers of the growth in…
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The Kenyan government has revealed plans to acquire a third Eurobond worth Sh250 billion.
National Treasury Principal Secretary Kamau Thugge says the funds will aid in paying off previous loans.
Kamau also says the borrowing is in line with Kenya's foreign borrowing plans for the current financial…
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A US Defence Department think tank has sounded a warning to Kenya and other African countries over Chinese funded projects.
Washington-based Africa Centre for Strategic Studies (ACSS) says African countries must adopt effective oversight and accountability mechanisms if they are to reap benefits…
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Kenya's Stanbic Bank has moved to auction several vehicles contracted by global mobile taxi hailing firm Uber.
This comes after the owners failed to service bank loans taken to purchase the vehicles.
In a notice published on local newspapers, the bank has put on sale 13 Suzuki Altos to recover…
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Equity Bank CEO James Mwangi is set to pocket Sh416 million in dividend after the institution recorded a net profit of Sh19.8 billion in the year ended December 2018.
The lender's net profit grew five percent last year from the Sh18.9 billion recorded in 2017.
Consequently, the bank has announced a…
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Equity Bank has announced a profit of Sh19.8 billion for the year ending December, 2018.
The lender's net profit increased by five percent from the previous year, maintaining its position as Kenya’s second most profitable bank after Kenya Commercial Bank (KCB).
The surge in Equity's profits is…
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Kenyan business mogul Chris Kirubi pocketed €6.3 million (Sh714 million) from the recent sale of one of his companies, Forbes reports.
The US business magazine reports that the billionaire businessman earned the amount from the sale of BIC brands East Africa franchise to French conglomerate Société…
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President Kenyatta and his French counterpart Emmanuel Macron have announced several public-private infrastructure deals worth 3 billion euros (about Sh340 billion).
The railway line is expected to ease the movement of people between Nairobi CBD and JKIA, which can take up to two hours by car due…
