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.
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.
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.
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.
The Kenyan shilling was little changed against the dollar and looked likely to remain in a tight range in the days ahead.
22 July 2014, 18:32
The Financial Times has listed Equity Bank and KCB among world’s Top 1 000 banks due.
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.
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.
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.
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.
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.
20 July 2014, 09:43
Florida jury slams tobacco company with $23.6B in punitive damages in widow's lawsuit.
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.
18 July 2014, 20:27
Commercial banks will be named and shamed by the state because they charge too much interest on loans
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.
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.
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.
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.
17 July 2014, 09:26
Kenya is among a growing number of African countries which has raised concerns over theft of intellectual properties.
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.
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.
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.
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.
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.
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.