NCBA Bank Kenya faced a notable downturn in revenue from its digital platforms, including Fuliza, Mshwari, and Loop, with a substantial 34% drop, amounting to Sh2.59 billion in the financial year ending December 2023. This decline was primarily attributed to reduced charges on the Fuliza overdraft facility. Despite an increase in the volume of transactions […]

Japanese trading firm Kaiho Industry Co. Limited has initiated operations in Kenya, targeting the wholesale and retail sectors of the automotive spare parts market. The company’s debut auction in Nairobi signals its strategic entry into the region’s burgeoning used automotive spare parts and accessories segment. African Business Consultant for Kaiho, Lucy Koyama, highlighted the company’s […]

Triply.co, a pioneering Kenyan travel tech startup, has received a significant boost with a $500,000 investment from renowned accelerator Y Combinator. This partnership marks Y Combinator’s maiden foray into Africa’s travel tech sector, highlighting the immense potential of Triply.co in reshaping Kenya’s travel landscape. Helmed by co-founders Peter Wachira and Collins Muthinja, Triply.co stands out […]

Nairobi: Despite positive local market indicators, foreign investors have remained on a steady path of divestment from the Nairobi Securities Exchange (NSE), data reveals. Over the past three months, foreign portfolio flows have consistently trended negative, with March witnessing the highest selloff at Sh1.2 billion. Analysts find the sustained exit of foreign investors puzzling, given […]

Acorn Holdings, a key player in real estate development, announced a significant increase in dividends for its unitholders across its real estate investment trusts (Reits). Following the successful distribution of profits from its development Reits, Acorn has raised its total dividends to Sh482.8 million, up from Sh 192.48 million. In a notable move, the Acorn […]

NCBA Group, a key player in East Africa’s financial sector, has announced impressive financial results for the fiscal year ending December 2023. The bank reported a notable 56.2 percent surge in net profits, reaching Sh21.4 billion compared to Sh13.7 billion in the previous year. As a testament to its robust performance, NCBA has declared a […]

The Nairobi Securities Exchange (NSE) witnessed a significant surge on Tuesday, boosting investor wealth by Sh95.53 billion, marking its largest single-day gain in 18 months. This propelled the market capitalization to Sh1.831 trillion by day’s end. Local investors, particularly institutional players, drove this surge, showing a strong preference for blue-chip stocks. Analysts attribute this to […]

BlackRock, a global asset management giant overseeing $9.1 trillion in assets, has reentered the Nairobi Securities Exchange (NSE) after a four-year hiatus, marking a significant development for Kenya’s financial sector. Governor Kamau Thugge of the Central Bank of Kenya revealed that BlackRock identified Kenya among ten global economies for potential investment opportunities. Following discussions, BlackRock […]

Kenya is embarking on a transformative journey into nuclear energy, with an allocation of Sh11 billion for the development of its first nuclear research reactor. Spearheaded by the Nuclear Power and Energy Agency (NuPEA), this initiative is poised to revolutionize various sectors, from research and education to healthcare and industry. The strategic plan outlined by […]

Micro, Small, and Medium Enterprises (MSMEs) in West Pokot and Turkana counties are poised to benefit from a significant funding opportunity. The Impact for Northern Kenya Fund, with a total value of $30 million, aims to provide crucial financial support to local businesses in collaboration with USAID Kuza. Already, over 1,500 MSMEs in the region […]