- Family Bank Group has posted a KES. 2.0 billion Profit Before Tax in the first six months to 30 June 2023. Family Group interest income rose by 18.7% to KES 7.3 billion supported by increased lending to customers across all business segments and placements with other banking institutions. However,…
- NCBA Group PLC has posted a profit after tax of KES 9.3 billion in its H1 results ending June 30, 2023, which is a 20.3 percent increase compared to 7.8 billion shillings reported during a similar period last year. The Group registered a profit before tax of 12.4 billion shillings representing 11…
- KCB Group has reported a decline in profit after tax by 20 percent to 15.6 billion shillings in the first six months of the year to June. This drop is from 19.5 billion shillings reported over the same period last year. Paul Russo, KCB Group Chief Executive Officer, said that the 20.1 percent…
- Taita Taveta is generally dry. Most areas rarely see rain, and if it comes, comes in very small scales. But this does not mean that people in the region should not grow crops. There are at least 26 types of crops that can do well in Mwatate, Taita Taveta, including maize. Read Also: Top 38 […]
The…
- In the dynamic business landscape, unforeseen challenges can emerge when least expected. Safeguarding your business against potential risks is not just prudent – it’s a strategic imperative. Public liability insurance is a shield that fortifies your business against third-party claims and…
- Standard Chartered Bank Kenya posted a 28% rise in Net Earnings to 6.91 Billion shillings at the end of the six months ended 30th June 2023. This is compared to a Net Profit of 5.51 Billion shillings over a similar period last year. The bank posted a 27.7%y/y leap in 1H23 EPS to KES 18.29 […]
The…
- Over 2000 youth are set to benefit from technical and vocational training in construction through an additional KES 60 million investment through Family Bank’s philanthropic arm, The Family Group Foundation. Through the USAID Tumikia Mtoto Programme, implemented by World Vision Kenya, the…
- Amid Kenya’s economic difficulties, where the cost of living is rising and financial stability seems out of reach, Kenyans are demonstrating their resilience by finding innovative ways to not only survive but also thrive. While the path ahead is difficult, some strategies can help individuals…
- Whether you’re an entrepreneur, a start-up, or an established business owner, knowing how to raise capital can often mean the difference between success and failure. A fast-changing market is demanding more entrepreneurs, and many are rising to the challenge by raising capital in novel and…
- On Tuesday, 22 August, the Teachers’ Service Commission (TSC) and the unions for primary and post-primary teachers, KNUT and KUPPET, re-open the meeting to discuss the salary review for teachers, KUPPET demanded a 30 percent salary increase across the board. According to KUPPET, 30 percent raise…
- In the heart of the savannah, where the rhythms of life intersect with the wild dance of survival, lies Kenya’s social protection landscape. Millions of Kenyans need help, and great initiatives have been put in place, but only a few tend to get it right. Some of the great challenges include: Data…
- A deputy headteacher is a school teacher who is second only to the head teacher or school principal in terms of authority Deputy Headteacher works closely with the headteacher and is in the second most senior position at school, line-managing staff and working towards the objectives in In primary…
- IGAD Climate Prediction and Applications Centre (ICPAC) announced that the October to December 2023 climate forecast shows high chances of wetter-than-usual conditions across most parts of the Greater Horn of Africa. Notably, there is an exceptionally high probability (>80%) of experiencing…
- Flutterwave, Africa’s largest payment service provider is in the process of going public through the issuance of an Initial Public Offering (IPO). Reports from the management indicate that the company is “moving forward with a planned initial public offering (IPO)”. Flutterwave, which operates in…
- Cryptocurrencies have transcended geographic boundaries, offering unprecedented financial opportunities to anyone with an internet connection. In Kenya, where mobile money solutions like M-Pesa have already revolutionized financial inclusion, the adoption of cryptocurrencies was a natural…
- The Cabinet Secretary for National Treasury Professor Njuguna Ndung’u appointed Humphrey Wattanga Mulongo as the new Commissioner General of the Kenya Revenue Authority (KRA). In a gazette notice dated August 22, 2023, CS Ndung’u stated that Mr. Mulongo will serve in the position for three years,…
- Exchange Rate Performance USD|KES: KES weakened by 0.06% to close at 144.41 (-17.05% year-to-date). GBP|KES: KES weakened by 0.19% to close at 184.08 (-23.98% year-to-date). EUR|KES: KES weakened by 0.30% to close at 157.30 (-19.83% year-to-date). Read Also: Kenyan Shilling Melts Further Against…
- Google has unveiled the “Google for Startups Accelerator: AI First”, an initiative aimed at supporting African startups looking to use artificial intelligence to solve local challenges. This program recognizes the transformative role that AI is playing across the world, innovating industries and…
- Exchange Rate Performance USD|KES: KES weakened by 0.09% to close at 144.32 (-16.98% year-to-date). GBP|KES: KES strengthened by 0.15% to close at 183.73 (-23.75% year-to-date). EUR|KES: KES strengthened by 0.20% to close at 156.83 (-19.48% year-to-date). Read Also: People Who Become Temporarily…
- Transport and logistics firm, Siginon Group has acquired a new food safety system certification (FSSC 22000) for its Siginon Global Logistics Mombasa Tea warehouse after transitioning from the previous ISO 22000 – 2018. The new accreditation gives confidence to customers that the firm will be more…
- Umeme has declared an interim dividend in the half year to June equivalent to Sh1.5 billion or Sh0.92 per share as the company accelerated debt payments ahead of the conclusion of its concession in March 2025. The company reported a 79.5% y-o-y decline in PAT to USH 13.2 BN (USD 3.5 MN). The…
- In a world filled with screens and pixels, where attention spans seem to be shrinking faster than the morning dew when the sun’s rays strike the ground, the art of storytelling stands tall as a beacon of wonderment and growth for our children. It’s not just a forgotten relic of the past; it’s a…
- The National Social Security Fund (NSSF) will fast-track all pending claims as it moves to streamline operations toward having members access their claims on a single day. This is according to the announcement made by the CEO, David Koros. The Fund has extended an invitation to anyone who has any…
- The 12th NCBA Golf Series was held in Kitale this past weekend. The iconic event attracted 84 golfers who battled it out to see who will clinch the tournament’s top honors. The golfers were aiming at securing a chance to play at the tournament’s Grand Finale, with qualifiers emerging in the overall…
- Mwea is known for rice. Most consumers of rice in places like Nairobi get it from Mwea. This has often given the notion that everyone in Mwea takes part in rice farming. No. Rice farming in Mwea is just in a small section, leaving other massive lands for other great crops. For instance, there are…
- Navigating the vast and complicated domain of financial trading, one is bound to encounter the dominant and ever-evolving ecosystem of the Forex (foreign exchange) market. This giant marketplace that never really sleeps is where currencies from different corners of the globe meet, compete, and…
- The Kenya National Union of Teachers (KNUT) and the Kenya Union of Post-Primary Education Teachers (KUPPET) have rejected the proposal the recent salary proposal announced by the Salaries and Remuneration Commission, SRC, arguing that the Teacher Service Commission, TSC, should give teachers a…
- All the benchmark indices closed in the red, led by the NSE 20 which retreated 3.9%w/w on the price drop of most large caps while the NASI and NSE 25 lost 2.5%w/w and 3.3%w/w. Equity turnover climbed 35.4%w/w to USD 11.7m as foreign investor trading increased. Safaricom reclaimed the top mover…
- Money market liquidity improved during the week with the average interbank rate falling a further 129.2bps to an average of 10.3% compared to a 542.9bps reduction in the prior week to 11.6%. Compared to the prior week, volumes improved slightly, rising 6.7% to KES 22.4 bn, from KES 21.0 bn. In the…
- Stock Market Weekly equity turnover rose by 35.0% w-o-w to close at USD 11.71 MN (KES 1.69 BN). NSE 20 and NASI eased by 3.9% and 2.6% w-o-w to close at 1,532.46 and 101.35, respectively. Foreign investors assumed a net buying position by accounting for 56.0% of total market purchases and 50.4% of…
- Earning millions from onion farming in Kenya requires careful planning, dedication, and a thorough understanding of the onion farming process. In Kenya, every household uses onions. There is a market for onions and many people are not aware of it. Venturing into onion farming is a lucrative farming…
- Every day, we wake up to something new around the world. Virtually everything is evolving, thanks to technology, more so, the internet. With innovations such as OpenAI now taking over the world, it is rather obvious that the world will never be the same. But in the relentless journey of innovation…
- The price of maize in most parts of the country (Trans Nzoia, Bungoma, Kakamega, and Kisumu) has started coming down as farmers embark on massive harvesting of the much-needed commodity, bringing a huge sigh of relief to millions of Kenyans. A 2-kilogram tin of maize that was retailing between 230…
- During the week, the Kenya Shilling depreciated by 0.4 percent against the US dollar to close the week at 144.2 shillings from 143.6 shillings recorded the previous week. On a year-to-date basis, the shilling has depreciated by 16.8 percent against the dollar, adding to the 9.0 percent depreciation…
- Kenya Breweries Limited (KBL) and Murang’a County have signed a partnership that will see KBL support farmers growing sorghum in the area. This is part of the efforts by the alcohol manufacturer to empower communities through gainful employment as well as contribute to the shared growth of KBL.…
- In a rapidly advancing world of technology, smartphone companies face the challenging task of maintaining innovation while also embracing sustainability. OPPO, a leading player in the industry, has taken a significant step towards environmental responsibility through its sustainable upgrade…
- Understanding the nature and behavior of customers is crucial for entrepreneurs looking to build successful businesses. We have seen many great start-ups that have raised billions in capital failing because they did not understand the nature of their target clients. More than 4000 businesses are…
- EABL dislodged Safaricom to become the top traded counter, accounting for 31.8% of the total turnover. The brewer slumped 5.5% to KES 125.25 (still a 14-month low) on increased foreign trading. Safaricom extended the prior session’s gains by 0.3% to KES 16.00 on local demand. NMG remained unchanged…
- In a world where financial literacy is often overlooked in traditional education, essential money rules can often remain elusive until learned through trial and error, and most times, this is always too late. Imagine if these fundamental principles had been ingrained in us during our formative…
- Emotions have a profound impact on human cognition and decision-making. As the saying goes, “The calmer you are, the clearer you think.” This notion highlights the essential connection between emotional regulation and cognitive clarity, ultimately leading to enhanced personal power and problem-…
- Life often presents us with situations that are beyond our control, yet the choice to take responsibility for them can define our character and shape our outcomes. The adage, “What isn’t your fault is still your responsibility,” encapsulates the essence of empowerment through accountability. I am…
- Seems there might be no immediate hope for the Kenyan shilling as it continues to receive a beating from the US Dollar. Exchange Rate Performance USD|KES: KES weakened by 0.10% to close at 144.18 (-16.87% year-to-date). GBP|KES: KES weakened by 0.25% to close at 184.00 (-23.94% year-to-date). EUR|…
- Safaricom investors were in the money as the telco halted its bear run, recouping 6.3% to KES 15.95 from its 13.5% slide on foreign demand. The lender accounted for 73.1% of the market today. Lenders dominated the top movers’ list, jointly accounting for 19.2% of trading activity. KCB sustained its…
- Seasoned property developer, Mi Vida Homes has sealed a deal with a renowned institutional off-taker for the bulk acquisition of 200 apartments at its affordable housing project dubbed 237 Garden City. While the transaction value remains undisclosed, the acquisition represents 30% of Mi Vida’s…
- Stanbic has affirmed its commitment to ensuring a just transition for clients and the community through financing solutions that enable climate adaptation and mitigation sustainably and inclusively. This is in addition to capacity building, partnerships, and grants for key initiatives in education…
- The Teachers Service Commission (TSC) has made changes that will have a significant impact on the education sector in Kenya. To address teacher shortages in dry and semi-arid regions, TSC has now advanced the retirement age by three years For teachers who work in dry and semi-arid climates. The…
- Emirates announces that its codeshare partnership with Air Canada has extended to include flights to and from Montréal, following the launch of services to Québec’s largest city in July. Emirates customers will now be able to plan travel between 11 of the most popular domestic points beyond…
- One, there is a trick where guys drop coins in a matatu and as you help pick, your pockets or bag is being emptied within seconds, and before you know it, they are off. Two, in matatus guys, suddenly shouts there is a crackdown and people should fasten their safety belts, as you struggle to […]
The…
- The cost of doing business in Kenya is just out of this world. No wonder investors are closing shop and opting for other countries such as Tanzania, Uganda, and Rwanda. Running a successful business in Kenya is among the 1000 ways to die. Shockingly, all the businesses dying in Kenya have the…
- In a world where technology continues to shape and redefine the way societies operate, Better World Systems Bewsys has set its sights on transforming the landscape of social protection programs in Kenya with its groundbreaking beneficiary management system, Alleviate. The Alleviate system is…
