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Business

Kenyans set to benefit from power connection loans

01 August 2014, 14:43

Jamii Bora Bank Limited (JBBL), Kenya Power and Lighting Company (KPLC), and Rapid Communications signed an agreement that will enable the JBBL to give loans to power connection applicants.

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Journalism Fellowship Program launched in Nairobi

01 August 2014, 12:22

Strathmore Business School and Safaricom launched the inaugural Journalism Fellowship Program to give business journalists an opportunity to train alongside Kenya’s leading business lecturers and some of top leading news-makers in the region.

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Synthetics pose a conundrum for world diamond industry

01 August 2014, 08:36

The diamond trade faces a growing challenge from the production of synthetic diamonds, with World Diamond Council, jewellers and diamond miners stressing that a jewel mined at great expense, and often with great risk, is infinitely more valuable than one made by man.

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KCB to spend KES 1 billion on funding livestock farming

01 August 2014, 08:39

The Kenya Commercial Bank (KCB) has set aside a revolving fund of KES 1 billion to fund livestock farmers in arid and semi-arid areas across the country to help commercialize the sector through its KCB Foundation dubbed Mifugo ni Biashara.

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KCB announces pretax profit increase

31 July 2014, 20:54

Kenya Commercial Bank has announced a KES17,1 billion, representing a 16 percent increase from the corresponding period in 2013.

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Kenya inflation rises 7.67 percent in year to July

31 July 2014, 18:10

Kenya's inflation crept up to 7.67 percent in the year to July from 7.39 percent in the previous month, the statistics office said on Thursday.

From school dropout to multi-millionaire

31 July 2014, 18:53

Mohanlal Devraj Karania left school at age 15 to build Kapa Oil Refineries Ltd.

Hotel chain says H1 profits down on security woes

31 July 2014, 11:29

Hotelier TPS Eastern Africa reported first-half 2014 pretax profit down by almost three quarters, saying the Kenyan tourist business had been hurt by a spate of militant attacks and travel warnings by several Western nations.

KCB reports 16 pct rise in first half profit

31 July 2014, 08:31

Kenya Commercial Bank (KCB) reported a 16 percent rise in first half 2014 pretax profit to 11.67 billion shillings ($133 million).

Equity Bank hopes for record year after strong first half

31 July 2014, 07:30

Equity Bank could be on course for a record year after first-half pre-tax profits rose 21 percent due to an expanding loan book and an improved performance from subsidiaries in nearby countries.

Banks bouy share, shilling steady

30 July 2014, 21:45

Banks buoyed stocks while the shilling was little changed on Wednesday, with traders expecting inflation data due on Thursday to have little impact on the local currency.

Mombasa port traffic up 13 percent in H1

30 July 2014, 18:43

Container traffic through Kenya's biggest port grew by 12.8 percent in the first six months of the year after new cargo handling infrastructure was built.

Girls to sue British Airways over alleged abuse by pilot

30 July 2014, 11:59

A group of girls aged from eight to 20 years plan to sue British Airways over sexual abuse by First Officer Simon Wood who carried out the alleged crimes during stopovers in Kenya, Uganda and Tanzania.

Tullow Oil projects progressing well

30 July 2014, 10:27

Tullow Oil, the independent oil and gas exploration and production group, reported success of its projects in Kenya.

Equity Bank says H1 2014 pretax profit up 21 pct

30 July 2014, 10:27

Equity Bank posted on Wednesday a 21 percent rise in pretax profit to 10.82 billion shillings ($123.38 million) in first half of 2014, driven by growth in its loan book.

Soap maker Cussons boosts profit, eyes Africa growth

30 July 2014, 07:53

PZ Cussons Plc, maker of Imperial Leather soap, posted a higher full-year profit after cost cuts scrubbed out the effect of a strong pound and periodic disruptions to sales in Nigeria, its largest market.

Top price of highest grade tea rises at auction

29 July 2014, 16:52

The highest price for top-grade Kenyan tea rose at this week's sale to $4.00 per kg from $3.94 per kg last week, Tea Brokers East Africa said.

Investor sues over Barclays 'dark pool'

29 July 2014, 10:51

A US investor is suing Barclays and current and former bosses over losses suffered after New York's attorney general accused the bank of lying to customers.

Kenyan shillings inches down on dollar demand

28 July 2014, 22:35

The Kenyan shilling edged down on Monday, under pressure from importers buying dollars to meet their end-month obligations, market participants said.

Tullow likely to seek partner for country's oil fields

28 July 2014, 20:46

Canadian explorer Africa Oil Corp. and its partner Tullow Oil are likely to bring in a third partner to help develop their oil discoveries in northern Kenya.

Travel company disputes official figures for tourists

28 July 2014, 18:48

A leading Kenyan hotel chain has disputed official figures for tourist arrivals, saying violent attacks by militants have scared away far more tourists than the authorities admit.

Jumia expands to Uganda, Ghana and Cameroon

28 July 2014, 15:23

Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets - Uganda, Ghana and Cameroon, the company said.

Govt seeks 60 bln shilling loan to raise power connections

28 July 2014, 12:57

The government will borrow 60 billion shilling ($684.54 million) from the African Development Bank (AfDB), to help more than double electricity connections to 70 percent of the population in five years, the energy minister said.

Safaricom ordered to open up M-Pesa platform

28 July 2014, 09:17

Safaricom has been ordered to open up its M-Pesa platform after Airtel Kenya filed a petition, accusing Safaricom of unfair competition.

Agent banking key to financial inclusion

28 July 2014, 10:43

The banking sector has witnessed increased financial inclusion following the introduction of agent banking that has ensured more people have increased contact with banking facilities.

Financial Indicators

KES/$ 0,0114 (-0,89%)
KES/£ 0,0067 (0%)
KES/€ 0,0085 (-1,19%)
KES/ZAR 0,1218 (-0,74%)
ABRI Kenya Index 153.18 (0,97%)
NSE 20 Share Index 4942.28 (0,73%)

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