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Business

Expanding loan book buoys profits at Equity Bank

17 April 2014, 12:53

Equity Bank's first-quarter pretax profit was up 21 percent at 5.4 billion shillings ($62.14 million), lifted by growth in its loan book.

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East African nations seek funding adviser for $4B railway

17 April 2014, 11:24

Tanzania, Rwanda and Burundi are looking for an adviser to help them secure financing for a $4.13 billion railway project aimed at boosting cross-border trade in the region.

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High remittance fees hurt Africa - think tank

17 April 2014, 08:36

Africans face the highest remittance fees globally, regularly paying a "super tax" to send money home at a cost that holds back development, says a think tank.

NSE makes landmark results announcement

16 April 2014, 13:06

The Nairobi Securities Exchange (NSE) announced its 2013 financial results marking a premier public announcement of the bourse’s performance in its 60-year history.

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Kenya says EAC-EU trade talks could be concluded by May

16 April 2014, 10:32

The ongoing trade talks between the East African Community (EAC) and the European Union could be concluded by the end of May.

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TransCentury says 2013 profit fell by 30 percent

16 April 2014, 07:31

TransCentury Limited posted a 30 percent drop in its pretax profit for 2013 to 856.6 million shillings ($9.9 million).

UN praises Kenya on transition to green economy

15 April 2014, 17:37

Kenya stands to gain greater economic benefits and food security while lowering the level of environmental pollution through a shift towards the green economy, UN said.

Uwezo fund to be rolled out by end of the month

15 April 2014, 10:22

The government’s KES 6 billion Uwezo fund flagship project is set to be rolled out in all the 47 counties by the end of this month.

Pancontinental completes exploration exercise

15 April 2014, 09:17

Pancontinental Oil and Gas has announced the completion of exploration of oil and gas at off-shore Kenya at the Sunbird-1 well.

Twitter accused of tax evasion

15 April 2014, 07:31

Twitter has been urged by Istanbul to open an office and start paying Turkish tax in the first direct talks since a two-week ban imposed on the site.

ERC cuts the pump price of diesel and kerosene

14 April 2014, 16:12

The Energy Regulatory Commission (ERC) cut the maximum retail price of a litre of diesel and kerosene till mid-May but raised the price of a litre of petrol citing an increase in import costs.

Amazon offers staff $5 000 to quit

14 April 2014, 09:57

Online retailer Amazon is offering employees who aren't happy working for the growing company $5 000 to quit.

Woolworths has confidence in Kenya as it seeks expansion

14 April 2014, 07:21

Retail clothing outlet Woolworths says it has confidence in the Kenyan market and will expand in the country, as it eyes a bigger market share in a highly competitive market.

KenolKobil swings to full-year profit

11 April 2014, 15:09

KenolKobil said it had swung into a 564 million shilling pretax profit for last year from a loss of 8.9 bln shillings previously, helped by a reduction in exchange rate losses and falling operating costs.

Africa still rising but must cut poverty, create jobs

11 April 2014, 11:44

African presidents and policy makers are pushing back against pessimism to tell the world their continent's economic boom is real and sustained, but they say it must work harder to roll back poverty and create jobs for its restless youth.

Seven Seas postpones IPO to 2017

11 April 2014, 09:25

Seven Seas Technologies has pushed back its initial public offering until 2017 to allow it time to tap new countries in Africa and reduce its reliance on its home market.

Bidco to invest $200 million by 2017

11 April 2014, 07:12

Bidco will invest about $200 million by 2017 in new product categories to meet growing demand, the head of the company said.

Telkom partner with counties to deliver internet

10 April 2014, 17:47

Orange Telkom, the integrated telecommunications service provider, said it is keen on delivering key services to counties by engaging with governments on a public-private-partnership basis.

KQ expects return to profit, teams with low-cost carrier

10 April 2014, 14:59

KQ expects to return to full-year profit, its commercial director said, as the carrier announced a deal to broaden its presence in Africa's nascent low-cost airline market.

Tea prices rise at weekly auction

10 April 2014, 13:46

The highest price for top grade Kenyan tea rose slightly to $3.16 per kg at this week's sale from $3.00 per kg last week, Tea Brokers East Africa said.

Liberty Holdings 2013 full year pretax profit up 11 pct

10 April 2014, 12:04

Liberty Holdings Kenya posted an 11 percent rise in full year 2013 pretax profit to 1.3 billion shillings ($15 million), helped a rise in revenues from premiums.

I&M Bank posts 27 pct jump in pretax profit for 2013

10 April 2014, 09:31

Kenya's I&M Bank Group posted a 27 percent rise in full year pretax profit for 2013 after the commercial bank benefited from a higher net interest income.

Comcraft Group discussing possible share offerings

10 April 2014, 08:37

Kenyan industrial magnate Manu Chandaria said his family-owned conglomerate Comcraft Group is in discussions about taking parts of the business public, reflecting its growing size and need for capital as it expands internationally.

New partnership to address continent's housing woes

09 April 2014, 14:24

The African Development Bank (AfDB) welcomed the recently-signed US $20-million trade finance Line of Credit with the Company for Habitat and Housing in Africa/Shelter Afrique.

Nakumatt MD assure customers, shoppers of security

09 April 2014, 10:26

The Nakumatt Holdings managing director, Atul Shah has assured customers and shoppers that security has been beefed up in all their outlets.

Financial Indicators

KES/$ 0.0115 (0%)
KES/£ 0.0068 (0%)
KES/€ 0.0083 (0%)
KES/ZAR 0.1215 (0%)
ABRI Kenya Index 147.37 (0.64%)
NSE 20 Share Index 4906.96 (-0.08%)

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