Latest business stories from across Kenya.
Old Mutual Holdings PLC has announced that it has reported a Ksh. 547 million profit after tax for the year ended December 31, 2023. The company reported a Ksh. 1.7 billion loss in 2022. Insurance revenue increased to Ksh. 32 billion from…
Kenya faces the formidable challenge of aligning its climate action with its development goals. The heart of this challenge lies in the financial mobilization required to transform these ambitions into tangible outcomes. According to the…
Visa has partnered with the African Confederation of Co-operative Savings and Credit Associations (ACCOSCA), to launch the Financial Inclusion in Kenya and Tanzania (FIKT) project. The purpose of the project is to improve the access and…
A fleet of Nissan Navara pick-ups has officially left the Rosslyn plant in Pretoria, South Africa, on the first leg of an eight-country tour toward Cairo, Egypt. The expedition, dubbed Daring Africa 2024, will showcase the Nissan Navara’s…
National carrier Kenya Airways has today announced that it has reported a loss after tax of Ksh. 23 billion for the year ended December 31, 2023. This is 41% reduction from the Ksh 38 billion the company reported in the year 2022. The…
I&M Group PLC has announced that it has recorded a net profit of Ksh. 12.6 billion for the year ended 31st December 2023. The lender attributed the 12.7% growth in its profits to an increase in its operating income. Operating income grew…
Following the requirement by CBK for reconfiguration of mobile money service providers, Airtel Money has discontinued its issuance of a code to withdraw funds. The move by CBK means that mobile money service providers will now enable their…
The Ministry of Interior and National Administration has directed the Private Security Regulatory Authority (PSRA) to reinstate the licenses of nine private security firms. The regulator had earlier revoked their licenses citing…
BasiGo has secured Ksh 396 million (USD 3 million) worth of equity funding from CFAO Group, a mobility, healthcare, consumer, and infrastructure business in Africa. The investment has been made by CFAO Kenya and Mobility54, the corporate…
The Kakamega International Investment Conference (KAIICO) recently took place at the Masinde Muliro University of Science and Technology. The conference witnessed commendation for digital education from leaders across the nation. The…
Safaricom, M-PESA Africa, Access Holdings and Coronation Group have announced a collaboration dedicated to propelling financial inclusion in Africa. The partnership aims to explore solutions that will provide a remittance corridor between…
Nissan Africa has announced the appointment of Jordi Vila as its new President. Vila will replace Joni Paiva, the current Nissan Africa President and India Sales & Marketing DVP, who is set to return to the Renault group. Villa is the…
The Impact for Northern Kenya Fund has released over Ksh 290 million in loans to SMEs in West Pokot and Turkana counties. The Fund, financed by USAID Kuza, has been working with enterprises in West Pokot and Turkana since 2022. This was…
EABL has committed to donate Ksh 190 million towards the restoration of water towers in Kenya, in an initiative dubbed Conservation at Scale. The funds are meant to help mitigate the effects of climate change, reduce carbon emissions, and…
Africa’s leading electric bus company BasiGo has secured $3 million (Ksh390 million) worth of equity funding from CFAO Group.
Safaricom and other parties aim to explore solutions that will provide a remittance corridor between East and West Africa, connecting some of the continent’s largest economies, through M-Pesa
Telkom Kenya, the country’s third-largest telco by subscription, has encountered a significant loss of 2.1 million mobile customers over the past five years.
Co-operative Bank of Kenya had reported a profit before tax of Ksh32.4 billion for full year 2023, a 10% growth compared to Ksh29.4 billion recorded in 2022.
Carrefour has launched its self-checkout service at The Hub Karen branch. The new service allows customers to shop and complete purchases without needing the assistance of cashiers at the cash counter. This in turn saves them time and…
The Government of Zambia and TradeMark Africa (TMA) have announced their partnership to upgrade the Nakonde One Stop Border Post, a vital trade route between Zambia and Tanzania. The project will be funded by the UK government to the tune…
Bolt recently held an event in partnership with the Organization of Women in International Trade (OWIT) to empower women drivers on its platform. The event aligned with the International Women’s Day theme of global women’s inclusion,…
Village Capital has launched an investment-readiness accelerator program for African startups focused on greentech. The program, Greentech 2024: The Future of Sustainability, an investment-readiness accelerator, was launched in partnership…
Tatu Woodworks, a company specialising in joinery services, has begun operations at Tatu City for Unity Homes. The company will deliver turnkey solutions from concept and design to joinery for homeowners, developers, architects, and…
Old Mutual has won the Innovation Award in the Group Life Best Practice category at the recently held Association of Kenyan Insurers (AKI) Awards. The award was in recognition of its ongoing commitment to pioneering solutions in Life…
