Latest business stories from across Kenya.
Small and medium enterprises are the fulcrum of Kenya’s economy. They are responsible for the creation of millions of jobs and innovation, and contribute over 40 per cent of the GDP. Apart from driving economic growth and development, SMEs…
On 11 May local time, the three-day “China-Africa Economic and Trade Expo into Africa” first-stop activities in Nairobi, the capital of Kenya, came to a successful conclusion. The China-Africa Economic and Trade Expo has been successfully…
Entrepreneurship is a journey that requires constant financial cushions, and anyone with a poor saving culture may not survive the journey. As such, it’s important for every entrepreneur to constantly save some amount to cushion them in…
Safaricom Investment Co-operative has received approval from the Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development to adopt a new name, logo and colours.
Absa Bank Kenya has reported a profit after tax of Kshs.10.7 billion for the half year ended 30 June 2024. This represents a 29% rise as compared to Ksh. 8.3 Billion reported in a similar period last year. The rise in profitability was on…
Leading retail chain, Quickmart, is celebrating its 18 year anniversary in the Kenyan market – rising from underdog to a top three player.
Binance has announced the expansion of its services in Africa. Users in Ghana, Tanzania, Uganda, and Zambia can now buy and sell crypto assets using mobile money. This development enhances accessibility and convenience for crypto…
Workpay, a Kenyan startup providing cloud-based HR, payroll, and benefits solutions for businesses, has raised Ksh. 645 million (USD 5 million) in Series A funding. The round was led by Pan-African venture capital firm Norrsken22 with…
Human Mobile Devices (HMD) has announced a new partnership with FC Barcelona, as its official global mobile phone partner. The announcement was made through a reveal video shared on the official social media channels of both HMD and FC…
Rosslyn Riviera Mall has announced its grand reopening after an extensive revamp. The grand reopening offered an array of curated experiences and activities designed to elevate the shopping and leisure experience for all visitors. As part…
NCBA Group PLC has today announced that it has posted a profit after tax of Ksh. 9.8 billion in its first half of 2024 financial results. This is a 5% increase as compared to the Ksh. 9.4 billion reported during a similar period in 2023.…
Mi Vida Homes has launched the sale of its KEZA Laika units, offering one, two and three-bedroom apartments, in Ruaka. The development is the second KEZA project to be launched and combines sophistication and affordability. The project is…
Kim-Fay has secured funding from the Norwegian Investment Fund for Developing Countries (Norfund) and I&M Bank for its new facility at Tatu City. The financing will support Kim-Fay’s business expansion, focusing on providing affordable…
Safaricom has announced the final five winners of the Shine Kenya Shinda Mamilii Kama Bingwa campaign. Each winner received Ksh. 1 million, along with an additional Ksh. 250,000 to support a community project of their choice. The latest…
Standard Chartered Bank Kenya Limited has today announced it has reported a Ksh. 10.2 billion net profit for the for the period ended 30 June 2024. This is an increase from the Ksh. 6.9 billion the bank registered in a similar period last…
Absa Bank Kenya PLC plans to expand its reach with more than 17,000 agency service outlets across the country in two years, making a return to markets that it abandoned seven years ago as it closed its branches.
Absa Bank Kenya has indicated that it plans to open over 17,000 agency service outlets across the country in two years. The first phase of the rollout will see the Bank increase its agency network from the current 600 to over 3000…
Prudential and Google Cloud have announced a partnership to build AI-powered products and applications to enhance customer, agent and employee experiences. Google Cloud will support Prudential’s new AI Lab, which will focus on solving…
Qatar Airways has acquired a 25% stake in South Africa’s independent regional carrier, Airlink. The acquisition is a continuation of Qatar Airways’ ambition to further develop its operations across the African continent. The investment in…
KCB Group PLC has announced that it recorded profit after tax of Ksh. 29.9 billion for the first half year ending June 2024. This is a 86% increase from the Ksh. 16 billion the company registered in a similar period in 2023. The balance…
Wegagen Bank has officially launched its international pre-paid Visa card service. The service will enable customers of the Bank, embassy staff, and international organization employees to make global payments without the need to carry…
Kenya Power has announced that a total of 5.64 million prepaid token electricity customers have updated their meters ahead of the deadline on 31st August. The meter update exercise targeted 7.4 million prepaid meters, whose software must…
Taboola has announced a partnership with Aleph Holding in a plan to expand its operations to serve advertisers and publishers in Africa. With the partnership, consumer reach will now be accessible to advertisers and publishers in countries…
I&M Group PLC have announced that they have posted a profit after tax of Ksh. 6.1 billion for the first half year ending 30 June 2024. This is up from Ksh. 5.03 billion in the same period last year, a growth of 21%. The company attributed…
