Bamburi changes leaders as profit drops

Nairobi, May 1 -- Bamburi Cement has announced five board changes including the chief executive and chief finance officer (CFO) as its net profit plunged to levels last seen 32 years ago. The Nairobi... Read More

I&M raises buyouts budget to Sh10bn

Nairobi, May 1 -- The I&M Group board is seeking one-off shareholder approval to make up to $75 million (Sh10.2 billion) buyouts in future without requiring fresh approvals, pointing to the bank's con... Read More

Bamburi Cement profit plunges 87pc to Sh181 million

Nairobi, April 28 -- Bamburi Cement net profit for the year ended December 2022 has dropped by 86.9 percent to Sh181 million on the back of reduced sales and increased costs. The Nairobi Securities E... Read More

Equity buys extra 6.6pc stake in DRC bank for Sh9.2bn

Nairobi, April 24 -- Equity Group acquired an extra 6.6 percent stake in its subsidiary in the Democratic Republic of the Congo for Sh9.24 billion, underlining the lender's quest to increase the share... Read More

Equity second big underwriter of loans in its first work year

Nairobi, April 24 -- Equity Group insurance subsidiary hit Sh3.84 billion in gross premiums from the group credit business in the year ended December, becoming the second largest insurer in underwriti... Read More

Sameer mulls exiting tyre business again

Nairobi, April 24 -- Sameer Africa is once again reviewing the viability of its tyre trading business in the wake of supply disruptions and high import costs, pointing to a possible scale-down or tota... Read More

CIC resumes repayment of Sh4.5bn Co-op Bank credit

Nairobi, April 24 -- CIC Insurance Group has resumed interest payment on a Sh4.5 billion loan owed to Co-operative Bank of Kenya following the expiry of a repayment break that was granted in the wake ... Read More

Equity Group adds 538 jobs on regional expansion drive

Nairobi, April 21 -- Equity Group added 538 employees to its payroll last year on an increased number of branches mainly in the Democratic Republic of Congo (DRC) which hosts its most profitable subsi... Read More

CIC converts Sh495m loan in Ugandan unit to shares

Nairobi, April 20 -- CIC Group has converted the Sh495.5 million it had loaned to its subsidiary CIC Africa Uganda into equity, raising the value of its investments outside Kenya. The insurer has dis... Read More

Sanlam, NCBA unit trusts grow fastest as industry pot hits Sh161bn

Nairobi, April 20 -- Sanlam and NCBA unit trusts posted the fastest growth in assets under management (AuM) as combined industry assets expanded to Sh161 billion at the end of last year. The Capital ... Read More