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Business

Private equity firm Ascent raises KES 4.3B in funding

23 July 2014, 17:30

Ascent, a private Kenyan equity firm, has raised $50 million (KES 4.39 billion) for investment in about a dozen fast-growing companies across the east Africa region, it said on Wednesday.

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NIC Bank profit rises on net interest income

23 July 2014, 15:18

NIC Bank Ltd posted a 10.7 percent jump in pretax profit for the first half of this year to 2.91 billion shillings ($33.12 million), the bank said.

Top price of Kenya's highest grade tea up at auction

23 July 2014, 08:35

The highest price for top-grade Kenyan tea climbed at this week's sale to KES 343 per kg from KES 317 per kg last week, Tea Brokers East Africa said.

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Equity secures partners to drive cash-lite economy

22 July 2014, 23:46

Equity Bank has confirmed its partnership with some of the world’s leading merchant business and payment processing firms in an ongoing process geared at setting the pace for the full scale rollout.

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Kenya shilling stagnates against US dollar

22 July 2014, 22:44

The Kenyan shilling was little changed against the dollar and looked likely to remain in a tight range in the days ahead.

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Equity, KCB ranked Africa’s most profitable lenders

22 July 2014, 18:32

The Financial Times has listed Equity Bank and KCB among world’s Top 1 000 banks due.

Bankers association introduces online credit calculator

22 July 2014, 12:31

The Kenya Bankers Association (KBA) has launched the Credit Calculator Online in a move it believes would enhance pricing transparency while stimulating competition within the banking industry.

Paris hotels allow guests to pay what they want

22 July 2014, 10:04

Five Paris hotels have launched a scheme allowing guests to "pay what you want" in an experiment that may be extended if successful.

The country's domestic debt stands at 15 billion USD

21 July 2014, 17:46

The country's internal debt has hit 15 billion U.S. dollars following a rise in government borrowing, according to the Central Bank of Kenya.

Kenya sells stake in wines marketer to S.Africa's Distell Group

21 July 2014, 08:07

Kenya has agreed to sell a 26 percent stake in a wines and spirits marketer to South Africa's Distell Group for 860 million shillings, Kenya's Privatisation Commission said.

Kenya's unemployment rate stands at 12.7 pct

21 July 2014, 07:20

Kenya is in the process of developing a national employment policy as the country's unemployment rate currently stands at 12.7 percent.

Tobacco maker RJ Reynolds slapped with $23.6B in damages

20 July 2014, 09:43

Florida jury slams tobacco company with $23.6B in punitive damages in widow's lawsuit.

High African interest rates chase away investors: UN

19 July 2014, 09:20

The United Nations has decried the prevailing high bank interest rates in the continent which has discouraged many investors to take credits from banks.

Rates charged on loans to be published by State

18 July 2014, 20:27

Commercial banks will be named and shamed by the state because they charge too much interest on loans

AMI launches free online courses for managers in Africa

18 July 2014, 13:36

The African Management Initiative (AMI) has launched the first in a series of free online courses developed with top business schools, aimed at reaching 1 million African managers and entrepreneurs in the next decade.

Britam raises KES 6B in bond issue

18 July 2014, 09:45

Financial services company British American (Britam) raised KES 6 billion ($68.4 million) through a corporate bond issue, doubling its initial target.

Kenyatta family sells stake in dairy firm Brookside

18 July 2014, 09:45

French food group Danone has said it is buying a 40 percent stake in Brookside, East Africa's top dairy producer, as part of plans to expand in new markets amid weak growth in Europe and a slowing economy in China.

Kenya 182-,364-day Treasury bills yields drop at latest sale

18 July 2014, 09:15

The yield on Kenya's 182-day Treasury bills fell to 10.430 percent at auction from 10.970 percent last week, the Central Bank said.

Kenya and African nations struggle with patent protection

17 July 2014, 09:26

Kenya is among a growing number of African countries which has raised concerns over theft of intellectual properties.

18 percent leap in pretax profit for housing finance

17 July 2014, 08:34

A mortgage firm Housing Finance posted an 18 percent leap in pretax profit for the first half to KES677.78 million ($7.72 million), thanks to a surge in non-interest income.

US firm secures Africa Power deal

16 July 2014, 16:52

Tetra Tech, the United States-headquartered firm, has been awarded a five-year contract to support the Power Africa Initiative.

Price of top grade Kenyan tea rises

16 July 2014, 09:50

The highest price for top-grade Kenyan tea rose at this week's sale to $3.64 per kg from $3.30 per kg last week, Tea Brokers East Africa said.

KRA collects 11 bln USD in taxes for 2013/2014

16 July 2014, 07:21

The Kenya Revenue Authority (KRA) collected 11 billion U.S. dollars in taxes for the 2013/2014 financial year, surpassing its target.

S&P sees more ratings for Nigeria and Kenya

15 July 2014, 20:07

Standard & Poor's expects to rate a number of Nigerian banks this year and is talking to some Kenyan banks and companies about future credit ratings.

RVR acquires more trains to revamp rail transport

15 July 2014, 10:27

Rift Valley Railways (RVR) has announced plans to acquire 30 new trains in a bid to revamp the region’s cargo transport.

Financial Indicators

KES/$ 0.0113 (0%)
KES/£ 0.0066 (0%)
KES/€ 0.0084 (0%)
KES/ZAR 0.1194 (0.67%)
ABRI Kenya Index 151.53 (0.5%)
NSE 20 Share Index 4903.68 (0.43%)

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