Mauritian firm to spend Sh2bn in expansion of Orbit factory

Nairobi, March 29 -- Mauritian firm Grit Real Estate Income Group is set to spend Sh2 billion ($15.5 million) on the further development of Orbit Products Africa's manufacturing facilities which it ac... Read More

Shuttle diplomacy that rescued the shilling

Nairobi, March 28 -- Senior bankers held a flurry of meetings with the Central Bank of Kenya (CBK) two weeks ago to revive the interbank forex market after the shilling neared a historic low of 150 un... Read More

I&M gets Sh457m dividend from Mauritius subsidiary

Nairobi, March 27 -- I&M Group was paid a dividend of Sh457.6 million by its Mauritius subsidiary Bank One in November 2022 following the improved financial performance of the unit in the period. Ban... Read More

Firm buys 50pc more Buffalo Mall stake

Nairobi, March 27 -- Mauritius-based Grit Real Estate Income Group has acquired the additional 50 percent stake in Naivasha's Buffalo Mall that it did not already own in a deal valued at Sh262.5 milli... Read More

Shilling depreciates further on day new forex code takes effect

Nairobi, March 24 -- The Kenyan shilling depreciated further on the day the banking sector regulator effected a new foreign exchange code that promises stringent penalties against those caught manipul... Read More

State faces Telkom bailout headache

Nairobi, March 24 -- The government faces the prospect of a multi-billion shilling outlay if it is to turn around Telkom Kenya following its takeover of the entire ownership of the telco, disclosures ... Read More

CBK whips banks to unlock dollars after President Ruto warning

Nairobi, March 23 -- The Central Bank of Kenya (CBK) has spooked banks with a new foreign exchange code that comes with threats of punitive fines and licence suspension for offenders, on a day Preside... Read More

StanChart says its mobile loans platform now ready for roll-out

Nairobi, March 23 -- Standard Chartered Bank Kenya expects to roll out its mobile lending service by the end of this month, joining other lenders in the race for the growing digital credit market. Th... Read More

Pension assets post muted growth amid weak markets

Nairobi, March 22 -- Pension industry assets under management (AUM) grew at their slowest pace in seven years in 2022 after an erosion in the value of equities, property and offshore investments in th... Read More

Vivo takes dollar loans amid forex shortage

Nairobi, March 20 -- Oil marketer Vivo Energy Kenya took up dollar loans last year as a hedge against forex shortages and a deteriorating exchange rate that left importers struggling to find hard curr... Read More