Category: Finance News

May 22, 2019 0

SBM Bank opens Gikomba, Eastleigh branches where Sh2b changes hands daily

By mykenyancareers

NAIROBI, Kenya, Mar 12 – SBM Bank has opened two branches in Nairobi’s Eastleigh and Gikomba areas as part of a plan to serve Small and Medium Enterprises. SBM Bank Kenya Deputy Chief Executive Officer Jotham Mutoka said the opening of the Eastleigh branch on General Waruinge Street and Gikomba branch in Gikomba market has … Continue reading “SBM Bank opens Gikomba, Eastleigh branches where Sh2b changes hands daily”

May 22, 2019 0

CMA recovers Sh458m gained from KenolKobil insider trading

By mykenyancareers

NAIROBI, Kenya, Mar 13 – The Capital Markets Authority has secured illegal gains amounting to Sh458 million in the ongoing investigations into insider trading on KenolKobil shares. The Authority said the surrendered funds relate to 90 percent of the suspicious trades identified through 14 accounts that were frozen in October last year to facilitate investigations. … Continue reading “CMA recovers Sh458m gained from KenolKobil insider trading”

May 22, 2019 0

Rubis Energie concludes Sh36B KenolKobil investment deal

By mykenyancareers

NAIROBI, Kenya Mar 13 – French downstream fuel industry group, Rubis Energie is finally taking over KenolKobil in Sh36 billion transaction, placing it as the largest foreign direct investment deal in the recent past. The transaction has seen Rubis receiving acceptance for shares, raising its stake in Kenolkobil to 97.6 per cent. The shareholders who took … Continue reading “Rubis Energie concludes Sh36B KenolKobil investment deal”

May 22, 2019 0

LISTEN: Top in Business – Rubis Energie/KenolKobil; Growth of tourism, Secondhand vehicles

By mykenyancareers

  NAIROBI, Kenya, Mar 13 – These are the business stories making headlines, on the local, regional and international scene. French Energy firm Rubis concludes Sh36B investment deal – marking the conclusion of the most successful and largest FDI into Kenya in recent years === MPs want Trade CS Peter Munya to explain the decision … Continue reading “LISTEN: Top in Business – Rubis Energie/KenolKobil; Growth of tourism, Secondhand vehicles”

May 22, 2019 0

Stima Sacco gets image boost with positive global rating

By mykenyancareers

NAIROBI, Kenya, Mar 14 – Stima Sacco has maintained its operations remain unaffected by fraud allegations at sister company Stima Investments Co-operative Society. The Deposit-taking Sacco quoted South African based rating agency GCR global that issued a BB+ rating signifying medium credit quality. The rating agency noted that the direct financial exposure to Stima investments … Continue reading “Stima Sacco gets image boost with positive global rating”

May 22, 2019 0

High Court suspends interest rate capping for 12 months

By mykenyancareers

NAIROBI, Kenya, Mar 14 – The High Court has ruled that regulating Bank interest rates is unconstitutional. Judges Francis Tuiyot , Jackline Kamau and Rachael Ngetich ruled that a section of the Banking Amendment Act 2016 that gives the Central Bank of Kenya authority to set interest rates disrupts the existing relationship between banks and … Continue reading “High Court suspends interest rate capping for 12 months”

May 22, 2019 0

CIC Insurance posts FY profit of Sh625m boosted by premiums

By mykenyancareers

NAIROBI, Kenya, Mar 15 – CIC insurance group has recorded Sh625.3 million in profits for the year ending December 31, 2018 compared to Sh478.4 million in the previous year largely contributed by gross premiums. CIC insurance saw its total assets increase by 8 per cent to Sh33 Billion and profit before tax grew by 64 … Continue reading “CIC Insurance posts FY profit of Sh625m boosted by premiums”

May 22, 2019 0

Second SME joins NSE Ibuka incubation program

By mykenyancareers

NAIROBI, Kenya, Mar 15 – The Nairobi Securities Exchange (NSE) has today admitted Globetrotter Agency Limited (Globetrotter) as the second company to join the Ibuka program, NSE’s incubation and acceleration program. The admission comes following a rigorous evaluation and vetting process that resulted in Globetrotter becoming the second among a group of enterprises expected to … Continue reading “Second SME joins NSE Ibuka incubation program”

May 22, 2019 0

LISTEN: Top in Business – Market-driven interest rates back, Price of petrol up, 4,000 youths graduate from Generation Kenya

By mykenyancareers

NAIROBI, Kenya, Mar 15 – These are the business stories making headlines, on the local, regional and international scene. All eyes are now on Parliament as following Thursday’s High Court ruling effectively giving legislators a year to amend sections of the Banking Act declaring regulating interest rates unconstitutional. === The price of petrol, diesel and … Continue reading “LISTEN: Top in Business – Market-driven interest rates back, Price of petrol up, 4,000 youths graduate from Generation Kenya”

May 22, 2019 0

Asia markets extend rally as eyes turn to Fed meeting

By mykenyancareers

HONG KONG, China , Mar 18 – Asian markets rose Monday as investors tracked a positive lead from Wall Street on optimism over the China-US trade talks, while attention turns to the Federal Reserve’s next policy meeting this week. The pound held gains as Prime Minister Theresa May tries to push her EU divorce deal … Continue reading “Asia markets extend rally as eyes turn to Fed meeting”