News

I&M Group has announced a significant interim dividend of Sh2 billion, to be paid out on January 14, 2025, to shareholders registered by December 16, 2024. This decision follows an impressive 18 percent increase in net profit over the first […]

Ghana and The Gambia are collaborating to launch a free-roaming initiative, which aims to enhance connectivity within West Africa. This move will allow mobile users from both countries to make calls, send texts, and use data without incurring additional roaming […]

President William Ruto has decisively canceled the planned Adani Group takeover deals involving the Jomo Kenyatta International Airport (JKIA) and the Kenya Electricity Transmission Company (Ketraco). During his State of the Nation address to Parliament, Ruto cited new evidence from […]

The Adani Group experienced a massive financial shock on Thursday, with shares losing approximately $28 billion (Sh3.6 trillion) in market value following US prosecutors’ charges against the group’s billionaire chairman, Gautam Adani. The allegations involve a complex bribery and fraud […]

Kenya is actively seeking financial support from international lending institutions to address its economic challenges. The country has recently secured a $200 million loan from the African Development Bank and is currently in negotiations with the World Bank for an […]

Egypt has taken a significant step in its privatization efforts by initiating the sale of a stake in United Bank, valued at up to $110 million. This marks the country’s first initial public offering (IPO) in three years and aligns […]

Absa Bank Kenya has reported a strong financial performance, with its profit after tax rising by 20 percent to Sh14.7 billion in the first nine months of the year. The impressive growth was primarily driven by increased earnings from their […]

The Kenyan shilling maintained its stability on Tuesday, November 19, holding steady against the US dollar after experiencing a slight dip in the previous week. Trading at 128.75/129.75, the currency’s exchange rate remained unchanged from Monday’s closing rate, as reported […]

Goldman Sachs has made a bold prediction for gold in 2025, forecasting the precious metal will rally to a record high of $3,000 per ounce. The investment bank’s analysts see two primary drivers for this potential surge: increased central bank […]

A significant legislative development is underway in Kenya’s financial sector with the introduction of the Business Laws (Amendment) Bill, 2024. This bill aims to empower the Central Bank of Kenya (CBK) with authority to regulate buy-now-pay-later (BNPL) companies, particularly focusing […]