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KCB falls behind Equity in quarter one profit race

KCB chief executive Joshua Oigara (left) and Equity chief executive James Mwangi. FILE PHOTO | NMG  KCB Group #ticker:KCB fell behind close rival Equity Group #ticker:EQTY in the race for the most profitable lender in the first three months of the...

State backed mortgage firm to lend at below 10pc

Affordable housing is one of the four pillars of President Uhuru Kenyatta’s agenda for the next four years. FILE PHOTO | NMG  Kenyans earning Sh150,000 and below per month are set to get house loans from local financial institutions at rates...

German pharma launches diabetes, hypertension app

From left-PharmAcess Foundation Kenya country director Isaiah Okoth, National Chairman, Founder of Kenya Defeat Diabetes Association (KDDA) Reuben Magoko, PharmAccess Foundation digital project lead Angela Kamakil and Boehringer Ingelheim Head of Human Pharma in Sub Saharan Africa Ayman Eissa during the launch a new...

Innovations will eat up jobs, but they will also create new ones

AI is already a great transformer, improving the efficiency of many sectors and driving economic impact. FILE PHOTO | NMG  That emerging technologies are threatening to take away jobs initially done by humans, is no longer news.The fourth industrial revolution is...

KQ revives Sh1.5bn rights issue plan for small investors

A Kenya Airways shareholders meeting. The airline seeks to sell new shares to small investors at a huge discount. FILE PHOTO | NMG  Kenya Airways #ticker:KQ has revived plans to implement a rights issue by selling new shares to small investors...

National Cement secures IFC debt for ARM deal

Narendra Raval, the chairman and major shareholder of National Cement. FILE PHOTO | NMG  The International Finance Corporation (IFC) and KCB Group #ticker:KCB are financing part of National Cement’s Sh5 billion bid for ARM Cement’s #ticker:ARM Kenyan operations.National Cement, which is...

Credit Bank ranked amongst top performing banks

Credit Bank staff pose with the awards the lender won after it was named the best Tier Three bank during the Think Business banking awards ceremony held at the Movenpick Hotel in Nairobi last Friday. PHOTO | COURTESY  Credit Bank scoops...

Online platform to weed out fake agriculture inputs

Kephis managing director Dr Esther Kimani. FILE PHOTO | NMG  Kenya is set to benefit from a regional seed label online verification system that will weed out fake agro-inputs and crop protection products.This is after mPedigree, a global leader in the...

Breaking free from being just labs for global companies

Labs are the place for experiments not profits, markets are for the latter. FILE PHOTO | NMG  Another week comes with the announcement of a company with Kenyan start-up roots closing on a round of funding to embark on global expansion...

Tech firm provides affordable insurance for small-scale farmers

Payout of premiums to farmers is done through mobile platforms. FILE PHOTO | NMG  Smallholder farmers who have no access to affordable insurance covers for their crops and livestock incur hefty losses as weather becomes increasingly unpredictable.However, this dire situation is...

Duo goes digital in fight against garbage menace

Founder of Dandora Hip-Hop City (DHC) Julius Owino alias Juliani and Taka Bank software developer Griffin Kisia (left) during the launch of Customer Bora – Taka Banks Programme, at Dandora Social County Hall, Nairobi on May 22, 2019. PHOTO | DIANA NGILA | NMG ...

Kandara residents stopped from invading Del Monte land

A Delmonte shop in Thika. FILE PHOTO | NMG  A judge has issued orders prohibiting Kandara residents from invading land occupied by Del Monte pending the determination of a case filed by the fruit processing company.High Court judge James Makau, however,...

Supremacy battles delay release of cheap maize

Agriculture Cabinet Secretary Mwangi Kiunjuri. FILE PHOTO | NMG  Households will wait longer for subsidised maize flour due the supremacy battles between the Ministry of Agriculture and the Strategic Food Reserve (SFR) board over who should release the stock to the...

AG blocks termination of Galana maize contract

Maize farm at Galana Kulalu in Tana River County which is part of the Galana Kulalu Food Security Project on September 9,2015. PHOTO | EVANS HABIL | NMG  The Attorney General has blocked termination of Galana Kulalu contract even as MPs...

City Hall workers get pay rise after fight with SRC

Governor Mike Sonko displays his new staff card after bio registration on May 22, 2019. He is betting on the ID to remove ghost workers. PHOTO | JEFF ANGOTE | NMG  Nairobi Governor Mike Sonko Wednesday announced a wage increase of...

Kisumu gets traffic lights for first time

NAS staff install traffic lights at the Patels roundabout in Kisumu on May 22, 2019. PHOTO | ONDARI OGEGA | NMG  Traffic lights were Wednesday installed in Kisumu for the first time in upgrades aimed at controlling traffic at a number...

ICPAK on spot over foreign recruitment

Kenyans in the diaspora have been surprised by invites to join forums organised by the Icpak officials. FILE PHOTO | NMG  Officials of the Institute of Public Accountants of Kenya are on the spot for engaging in expensive fishing expeditions for...

Co-op Bank first quarter profit rises to Sh3.6bn

A Coop Bank outlet in Nairobi. FILE PHOTO | NMG  Co-operative Bank of Kenya #ticker:COOP has posted a 4.4 percent net profit jump in the first quarter ended March, helped by higher loans income and non-funded income amid lower operating costs.The...

Financial analysts lobby deregisters David Maena for 10 years over rogue trade

An investor at the Nairobi Securities Exchange. FILE PHOTO | NMG  The Institute of Certified Investment Financial Analysts (Icifa) has deregistered former CBA Capital executive David Tumaini Maena for 10 years and imposed a Sh1.1 million fine for professional misconduct.The misconduct...

Cement tycoon in Sh5bn buyout of collapsed ARM

ARM plant in Athi River. FILE PHOTO | NMG  Narendra Raval, the billionaire businessman who founded the Devki Group of Companies, has acquired struggling cement processor ARM #ticker:ARM for Sh5 billion ($50 million) in a sign of shifting balance of power...

Sh21bn Lamu wind project in limbo

Wind power. FILE PHOTO | NMG  The setting up of a Sh21 billion wind power plant in Mpeketoni, Lamu West Constituency, now stands in limbo after the key financier of the project threatened to withdraw, citing frustrations from Kenya Power in...

Kenya Airways boss earns Sh62.8m in year of Sh7.5bn loss

Kenya Airways chief executive Sebastian Mikosz speaks during the airline’s EGM at KQ Pride Centre in Nairobi on August 7, 2017. PHOTO | SALATON NJAU | NMG  Kenya Airways Chief Executive Sebastian Mikosz was paid a total of Sh62.89 million...

Administrators move to sell fashion retailer Deacons

Mr Peter Kahi. FILE PHOTO | NMG  Administrators of the collapsed fashion retailer, Deacons East Africa #ticker:DCON, have moved to sell the company in a bid to raise funds to settle its liabilities which stand at more than Sh1 billion.In a...

StanChart’s first quarter profit up 31pc to Sh2.4bn

A Standard Chartered Bank branch in Nairobi: The lender’s 31 percent profit growth is so far the best among the big banks that have released their Quarter One results. FILE PHOTO | NMG  Standard Chartered Bank (Kenya) #ticker:SCBK reported a 31.1...

South Africa tech firm cleared to buy iWayAfrica

Competition Authority of Kenya (CAK) director-general, Francis Wang’ombe. FILE PHOTO | NMG  South Africa-based integrator of advanced network and cloud computing services Echotel International Proprietary Limited has received the green light from the Competition Authority of Kenya (CAK) to acquire 80...

Stock decline hurts HF’s share-based pay scheme

HF Group CEO Robert Kibaara. FILE PHOTO | NMG  Mortgage lender HF’s #ticker:HFCK stock rout on the Nairobi Securities Exchange (NSE) has hurt its share-based compensation scheme which became unprofitable after the market price fell below the offer price.The adverse share...

KPA allays fears national shipping line will cut jobs

KPA managing director Daniel Manduku. FILE PHOTO | NMG  The Kenya Ports Authority (KPA) has allayed fears of job loss with the revival of the Kenya National Shipping Line (KNSL), saying the employees will be redeployed to other ports.KPA managing director...

Tea companies give SGR wide berth over high transport costs

SGR cargo train in Nairobi. FILE PHOTO | NMG  The Standard Gauge Railway (SGR) is losing out business from tea firms because of the exorbitant transport rates from Nairobi to Mombasa.Tea firms, especially the multinationals, have now opted to use road...

KCAA in fresh bid to lay ground for use of drones

Members of the delegated legislation committee of the National Assembly are shown how a drone is operated at JKIA on April 24, 2018. FILE PHOTO | NMG  The Kenya Civil Aviation Authority (KCAA) held a fresh stakeholders meeting yesterday to deliberate...

Shipping lobby in fresh push for local insurance

A ship arrive at the port of Mombasa. FILE PHOTO | NMG  Kenya is among four countries in the region that have resolved to hasten the domestication of Marine Cargo Insurance (MCI) and increase its uptake.The Marine Cargo Insurance Policy, which...
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Kenya is seeking to carve a niche as an international hub for higher learning with a new policy targeting local universities. The...

Gor mahia wins Kenya Premier League in a continuous third round

Gor Mahia are officially the Champions of Kenya Premier League season 2018-19. In other words, Gor are the all-time champions in Kenya. Historically, K’Ogalo have...

KCB falls behind Equity in quarter one profit race

KCB chief executive Joshua Oigara (left) and Equity chief executive James Mwangi. FILE PHOTO | NMG  ...

MPs Declare War on Matiang’i’s PS for Disrespecting DP Ruto

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