Results For: Kenya

WorldRemit to launch instant money transfers to Kenya

Global digital money transfer service WorldRemit has joined forces with Diamond Trust Bank Kenya Limited (DTB) to further expand money transfer in the region. WorldRemit’s mobile-first, digital model allows the Kenyan diaspora to send money in a few taps directly from their phones – without the inconvenience of visiting a bricks and mortar agent. With […]

Business & Economy

Andersen Tax launches in Kenya after Nexus Business Advisory Limited

International tax and legal company Andersen Global has announced the debut of the Andersen name in Kenya as Nexus Business Advisory Limited, a tax and business advisory firm based in Nairobi, becomes a full member firm of Andersen Global. The launch continues Andersen’s strategic expansion across Africa, with Andersen Tax in Kenya becoming the second African […]

Business & Economy

KCB Foundation, GIZ graduate 350 trainees in Kenya

The Foundation and GIZ on Thursday graduated 350 program beneficiaries who have successfully completed a three-month training in the innovative Hydroponic Farming. This is part of a six months training course consisting of three months classroom training with practical exercises and the other three months on construction of units and actual group production of the […]

Agriculture

Kenya cabinet approves Africa free trade treaty

The Kenyan cabinet has approved the Africa Continental Free Trade (AfCFTA) treaty for ratification. The Bill for ratifying the treaty, which was signed in Kigali, Rwanda, by 44 African nations, will be presented to Parliament within the next few days following its approval by Cabinet in its first sitting. The treaty will come into effect […]

Business & Economy

Nielsen Consumer confidence report: Kenya’s latest indicates decline

Reality bites when it comes to Kenya’s latest Nielsen Consumer Confidence Index score (Quarter 4, 2017), which has dropped six points from the previous quarter to 94, the lowest level since the country was first measured in Quarter 4, 2013 and means it is now well below the ‘tipping point’ of overall optimism i.e. 100. […]

Business & Economy

Stanbic Holdings Kenya records $43 million pre tax profit on growth in non-interest revenue

Stanbic Holdings Plc weathered a tough operating environment last year to post a 43 million, Sh4.3 billion, profit after tax according to the recently released 2017 full year financial results. The NSE-listed lender’s performance which translates to a marginal 2% dip in PAT, was driven by an increase in non interest revenue which stood at […]

Business & Economy

Nestle Kenya celebrates gender equality at work

signs UN Women Empowerment Principles.. Nestlé Kenya has joined thousands other companies from across the globe in signing the UN Women Empowerment Principles as the company commemorated the 2018 International Women’s Day to raise awareness on the importance of gender equality at work. In a joint ceremony in partnership with UN Women Kenya, Nestlé Equatorial Africa […]

Business & Economy

Finance reforms pay off in Kenya

Kenya is one of 34 countries that have introduced banking reforms to expand sustainable lending, making emerging markets a major force in driving development and fighting climate change, according to the first comprehensive Global Progress Report of the Sustainable Banking Network, an IFC-supported organization of banking regulators and associations. Those 34 countries account for $42.5 […]

Business & Economy

Kenyan customers two months of unlimited entertainment access

Iflix, a global entertainment service for emerging markets has partnered with Safaricom to give the firms’ customers up to 60 days of unlimited access to iflix’s service with thousands of the world’s best TV shows, movies and more on every device they own. Customers who register on iflix on 19th March 2018, will enjoy the […]

Business & Economy

Kenya Airways begins flights to Mauritius

Kenya Airways is now flying directly to Mauritius as part of its broad strategy to expand its footprint across Africa. The newly launched service will operate four times a week – Monday, Wednesday, Thursday and Saturday. On Monday and Thursday flights will depart Nairobi at 11:45am while on Wednesday and Saturday flights will depart Nairobi […]

Business Products & Services

A.M. Best downgrades credit ratings of Kenya Reinsurance – PR

Credit rating agency A.M. Best has downgraded the financial strength rating to B, Fair, from B+, Good, and the Long-Term Issuer Rating to bb+ from bbb- of Kenya Reinsurance Corporation Limited, Kenya Re. The outlook of these Credit Ratings has been revised to stable from negative. The ratings reflect Kenya Re’s balance sheet strength, which A.M. Best […]

Business & Economy

Currencies: Kenyan, Ugandan shillings to ease, Ghana cedi to hold steady

NAIROBI, Feb 22 (Reuters) – Kenya’s and Uganda’s shillings are expected to weaken against the dollar in the week to next Thursday, while Ghana’s cedi will hold steady, traders said. KENYA The Kenyan shilling is expected to weaken due to end-month dollar demand from oil and retail goods importers. Commercial banks quoted the shilling at […]

Business & Economy

Kenya: Intertek renews contract with govt for export conformity to standards programme

Intertek, a Total Quality Assurance provider to industries worldwide, has extended its contract with the Kenya Bureau of Standards (KEBS) to continue to manage its Pre-Export Verification of Conformity to Standards Programme (PVoC) for exports to the country. The programme verifies the conformity of all regulated products in the respective exporting countries within a range […]

Business & Economy

Capital Markets Authority approves license for online foreign exchange broker in Kenya

  The Board of the Capital Markets Authority (CMA) has approved the grant of a license to Execution Point Limited to operate as a Non – Dealing Online Foreign Exchange Broker in line with the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017. The non-dealing online foreign exchange broker license means the entity is licensed […]

Business & Economy

I&M Bank trains eyes on digital transformation with Fiorano Software in Kenya

Silicon Valley based digital solutions provider Fiorano Software has been selected by I&M Bank, Kenya to achieve digital transformation to reduce time-to-market while integrating its Finacle, Core Banking System. I&M Bank’s need for digital transformation arose from its new strategy aimed at giving each market segment a customized proposition to complement their lifestyle and financial […]

Business & Economy

Kenyan’s purchase of Valentine items with Mastercard increase

People all over the world are learning to make things simpler by using technology. Now, Kenyans can see the benefits of ordering goods online… The annual Mastercard Love Index indicates that Kenyans are turning to online retail outlets to purchase their Valentines gifts, with a 183 percent increase in the number of e-commerce transactions taking […]

Business & Economy

Many to lose jobs as OLX Kenya, Nigeria to shutdown

According to reports, OLX, one of Africa’s leading e-commerce platforms, is shutting its Kenya and Nigeria outlets. A source at the firm said the staff in both countries were formally informed of the decision on February 6, 2018 saying staff were reportedly notified of their termination beginning in March. It is not clear the number of workers who […]

Business Products & Services

This advert was banned in Kenya (Video)

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Business Products & Services

DHL uses veterans to lead business in Kenya, Nigeria

DHL Global Forwarding, the leading provider of air, sea and road freight services has appointed Agnaldo Laice and Maureen Adibuah as Country Managers in Kenya and Nigeria respectively. Both of them are industry veterans who possess strong local market knowledge and have been with DHL for almost two decades – having risen through the ranks […]

Business & Economy

Afreximbank presents equity offering to Kenyan investors

The African Export-Import Bank (Afreximbank) has presented its equity offering to Kenyan investors aimed at raising between $100 million and $300 million through the issuance of Depositary Receipts backed by its Class “D” shares. The listing of the Depositary Receipts on the Stock Exchange of Mauritius was approved in August, opening Afreximbank’s shareholding to the […]

Business & Economy Business Products & Services

Kenya’s neglected businesses get funding from REGAL-AG

Peaceful people group in northern Kenya’s Isiolo and Marsabit districts experience the ill effects of incessant dry spells and the impacts of environmental change. Many banks in Kenya far from putting resources into new businesses, neglect to give Sharia-consistent items, or offer high-cost credit and charges to dishearten borrowing. To conquer these requirements and develop […]

Agriculture Business Products & Services News

Kenya: How capped lending rates affect Standard Chartered Bank profits

Standard Chartered has declared a pre-impose benefit of KShs 4.98 billion for the primary portion of 2017. The Bank said the 33 percent drop, year-on-year, mirrors the impacts of the Banking (Amendment) Act, 2016, which topped loaning rates and presented a story on store rates, log jam in financial movement in the keep running up […]

Business & Economy News

Vodacom acquires 35% stake in Kenya’s Safaricom

Vodacom has successfully acquired a 35% stake in Kenya’s Safaricom from its parent firm Vodafone Group for ZAR35 billion ($2.6 billion). The transfer was executed by the group’s subsidiary Vodafone International Holdings, which retains a 5% indirect stake in Safaricom. After it obtained the requisite regulatory approvals in both Kenya and South Africa, Vodacom’s shareholders […]

News

Mukami Kariuki, a Kenyan National, is the new World Bank Country Manager for Zimbabwe

Ms. R. Mukami Kariuki, a Kenyan National, is the new World Bank Country Manager for Zimbabwe. In her new position, Ms Kariuki’s top priorities will be to provide strategic leadership for formulating programs that support the World Bank’s twin goals and maintaining portfolio quality by working with internal and external partners for better results. “With […]

News

New sex craze for Kenyan women

Kenyan women are entering into a new phase of sex craze, so claims a report from Nairobi. Read more here

Features & Reports

Visa unveils 1st Visa Everywhere Initiative for young developers

Visa has announced the launch of the first Visa Everywhere Initiative for Sub Saharan Africa to young developers. Developers who win the Visa-led hackathon will automatically gain entry into the Visa Everywhere Initiative where they will have an opportunity to compete for a chance to win up to $50,000, at a regional event in the […]

Business & Economy

Africa in for competition regulation

The top ten economies by Gross Domestic Product (GDP) in Africa all have active competition regulation, save for Angola and Nigeria but those countries are in the process of establishing completion law regimes, which are expected to be up and running soon. About twenty countries currently have functional competition law regimes, several more have enacted […]

Business & Economy

Sky.Garden partners Interswitch to launch Instant mobile money

eCommerce company Sky.Garden has made groundbreaking implementations to its payments module to ensure real-time payments to their sellers after signing a deal with digital payments firm Interswitch. The deal will improve speed and accuracy of mobile money payments and allow seamless cash flow management and comes months after the firm raised $1.2m to fuel product […]

Business & Economy

African market factors outlook April 19 2018

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – EVENTS: *Ethiopia’s new Prime Minister Abiy Ahmed expected to name his new cabinet. GLOBAL MARKETS Resource stocks were on a roll in Asia on Thursday as oil prices hit […]

Business & Economy

AfDB’s Trade Finance Operation signs $100m soft commodity finance

The African Development Bank has signed a loan agreement for a soft commodity finance facility (SCFF) with the Export Trading Group (ETC). This Facility is innovatively structured as two successive loans of US $100 million, each with a tenor of up to 2 years, thus signifying the African Development Bank’s strong commitment to the promotion […]

Business & Economy
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