EA banks cash in on forex crisis, govt securities to increase earnings

Nairobi, Dec. 6 -- East Africa's top retail banks have cashed in on the scarcity of hard currency, earning Ksh25 billion ($204.91 million) in additional income. This was also attributed to volatile fo... Read More

Centum writes off $16.3m invested in Lamu coal project

Nairobi, Dec. 3 -- Centum Investments Company Ltd has written off its Ksh2 billion ($16.39 million) investment in the controversial Lamu coal-fired power plant. The project failed to take-off over env... Read More

Centum Investments sinks deeper in the red with $10m half-year loss

Nairobi, Nov. 29 -- Centum Investments is contending with losses after years of massive capital investments and mounting debt took a heavy toll on its finances, dimming earning prospects for sharehold... Read More

Treasury orders removal of troubled Kenya Power board chair Yeda

Nairobi, Nov. 24 -- The Kenyan National Treasury has sanctioned the removal of Kenya Power's embattled board chairperson Vivienne Apopo Yeda as President William Ruto's administration moves to streaml... Read More

Equity Group's nine-month net profit rises to $273 million

Nairobi, Nov. 22 -- Equity Group's net profit for the nine months to September 30 increased by 26.62 per cent, largely helped by a surge in fees and commissions on banking transactions, forex trading ... Read More

South Sudan readies for $112.7m IMF emergency funding

Nairobi, Nov. 22 -- The South Sudanese government will be receiving $112.7 million in emergency funding from the International Monetary Fund (IMF) to help address food insecurity, support social spend... Read More

Equity names Uganda MD Samuel Kirubi as Group operating chief

Nairobi, Nov. 21 -- Equity Group has picked a veteran insider Samuel Kirubi as the Group's chief operating officer (GCOO) as the lender seeks to scale up its financial services through technology. "A... Read More

Lean times as number of Kenyan firms facing liquidation doubles

Nairobi, Nov. 15 -- The number of Kenyan firms facing liquidation more than doubled in seven years, highlighting weaknesses in the legal regime on insolvency. Latest data from Kenya's State Receiver ... Read More

Choppies fights technical insolvency after $125m loss

Nairobi, Nov. 9 -- Botswana-based Choppies Enterprises is fighting technical insolvency after incurring $125 million loss on the closure of its operations in Kenya, Tanzania, South Africa and Mozambiq... Read More

Kenya moves to avert potential foreign direct investment crisis

Nairobi, Nov. 1 -- Kenya is facing a foreign inflow crisis after the New York-based Morgan Stanley Capital International (MSCI) Inc. put the country on a watch list of troubled markets unfit for forei... Read More