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Business

Kenya inflation jumps in August, raises likelihood of interest rate hike

01 September 2014, 14:25

Rising food prices helped push up Kenya's inflation rate in August to its highest level since June 2012, making it more likely that the central bank will lift interest rates in coming months.

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Safaricom helps shares higher, shilling stable

01 September 2014, 09:09

Safaricom led Kenyan shares higher after parliament approved its plans to construct a national security and surveillance system, while the shilling was flat.

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YU Essar in pact to sell Kenya telecoms business

31 August 2014, 10:30

Essar Capital Ltd, part of India's Essar conglomerate, said it had signed binding agreements with Bharti Airtel Ltd and Safaricom Ltd to sell its telecoms business in Kenya for about $120 million.

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Kenya plans to list its Eurobond at the NSE

30 August 2014, 10:49

Kenya is currently reforming its Nairobi Security Exchange (NSE) in order to make it easier for the listing of the country's Eurobond.

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Malaysia Airlines to cut 6 000 staff in overhaul

29 August 2014, 23:05

Malaysia Airlines will shed 6,000 workers as part of an overhaul to revive its damaged brand after being hit by double passenger jet disasters.

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Tanzania challenges violence-hit Kenya as regional tourism hub

29 August 2014, 11:09

Tanzania expects tourist numbers to double to 2 million by 2017, the state tourist board said, challenging regional rival Kenya where Islamist attacks have scared away visitors.

High stakes for high reward? Real estate funds come to Africa

29 August 2014, 15:02

Forecasts for 20 percent net annual returns from investing in shopping malls, office blocks or industrial complexes in countries from Zambia to Kenya is drawing in new investors despite more immediate concerns about Ebola, terrorism or political stability.

Home Afrika H1 pretax profit tumbles 72 pct on rising costs

29 August 2014, 07:19

Kenyan property developer Home Afrika Ltd reported a 73 percent drop in first-half pretax profit to 68.2 million shillings ($771,493) after costs rose, it said.

Mini grids summit set for Nairobi

28 August 2014, 20:05

Major players in the power industry will convene in the country this November to explore the commercial potential of mini grids in Africa.

Tullow provides local oil and gas update

28 August 2014, 18:00

Tullow Oil announced the successful results from a series of exploration, appraisal and testing activities conducted in Blocks 10BB and 13T onshore Kenya.

World Bank cuts Rwanda's 2014 growth forecast

28 August 2014, 12:26

The World Bank has cut its 2014 growth forecast for Rwanda, blaming delayed spending on energy and transport and a slowdown of credit growth to the private sector.

I&M Bank H1 profit up 9 pct on interest income

28 August 2014, 07:06

I&M Bank has reported a 9.2 percent rise in first-half pretax profit to 3.8 billion shillings ($43 million), helped up by a rise in net interest income.

Ebola causing huge damage to W.Africa economies

27 August 2014, 20:03

Ebola is causing enormous damage to West African economies, draining budgetary resources and slashing economic growth by up to 4 percent.

Nairobi readies for power industry convention

27 August 2014, 18:03

Preparations for the East African Power Industry Convention (EAPIC) are gathering momentum with confirmation more than 1 000 participants expected for annual event in Nairobi.

Fastjet sets sight on flying to Kenya

27 August 2014, 15:01

Fastjet, a low cost airline with operations in some countries in Africa, has incorporated a company in Kenya, Fastjet Kenya, as part of its goal to launch a base in the country.

Ebola threat bars Westerners from attending Destination Kwale investment forum

27 August 2014, 13:13

Investors from Western countries are not attending the Destination Kwale Investment forum due to Ebola threat, Kwale Governor Salim Mvurya has said.

CBK to inject 30 billion shillings into the market

27 August 2014, 12:19

The Central Bank of Kenya sought to inject 30 billion shillings into the market after a liquidity crunch sent overnight lending rates higher.

Jubilee Insurance's mid-year pretax profit up 35 pct

27 August 2014, 07:31

Jubilee Holdings increased its profit before tax 35 percent to 1.54 billion shillings ($17.4 million) in the first six months of this year, it said.

NSE first half profits up 46%

26 August 2014, 18:01

Nairobi Securities Exchange, which is listing its shares next month, posted a 46 percent year-on-year jump in its pretax profit for the first half to KES 158.2 million

Mwangi appointed Old Mutual CEO

26 August 2014, 09:29

Insurance firm Old Mutual Kenya, has appointed Peter King’ori Mwangi as the new Group Chief Executive Officer effective 1 October.

Kenya's debut Eurobond pushes debt to 57 pct of GDP

26 August 2014, 07:28

Kenya's debut $2 billion Eurobond pushed its total public debt to 57 percent of gross domestic product (GDP) at the end of June, up from 51.7 percent a year earlier, the Treasury said.

Kenya Power secures funds for expansion project

25 August 2014, 14:59

The African Development Bank (AfDB) has committed a US$150 million loan (approximately KES 13 billion) to finance part of Kenya Power’s target of 1 million new electricity connections this year.

Standard Group profit down 8 pct in the first half

25 August 2014, 12:39

Media firm Standard Group on Monday posted an 8-percent drop in pretax mid-year profit to 205 million shillings

KTDA seeks to expand into Asian, Russian and US markets

25 August 2014, 11:12

Kenya Tea Development Agency (KTDA) has formed a committee to look for new tea markets in Asia, Russia, China and USA.

Zim creates fewer formal jobs

25 August 2014, 07:40

The Zimbabwean economy added 13 173 new jobs in the six months to June, adding to evidence that the country's economic situation has continued to worsen.

Financial Indicators

KES/$ 0.0113 (0%)
KES/£ 0.0068 (0%)
KES/€ 0.0086 (-1.18%)
KES/ZAR 0.1204 (-0.25%)
ABRI Kenya Index 159.12 (0.74%)
NSE 20 Share Index 5140.92 (0.03%)

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