Family Bank has empowered communities, fostered economic growth and championed financial inclusion in Kenya for forty years, helped by pioneering mobile banking services and providing accessible loans to individuals, Micro, Small, and Medium-Sized Businesses (MSMES), and smallholder farmers. Established as a building society in 1984, the lender opened its doors with a vision to empower […]
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The Nairobi Expressway has posted a loss of Sh1.2 billion between July 2023 and June 30, 2024, despite an increase in traffic and higher toll fees. Latest data from the Treasury shows the expressway generated revenue valued at Sh4.6 billion for the period under review, compared to the operational costs totalling Sh.5.8 billion. As the […]
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Future Construkt Investment Managers Ltd, subsidiary of a Mauritius-based asset management firm, Future Construkt Africa LLC, has been granted the Real Estate Investment Trust (REIT) Manager License by the Capital Markets Authority (CMA) of Kenya to mobilize institutional capital and implement its Kenya-focused real estate investment strategy. Future Construkt will center on the development of […]
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Ride-hailing app, Uber, contributed an estimated Sh 14.1 billion in revenue to Kenya’s economy in 2023. According to the company’s Kenya Economic Impact Report released on Tuesday, November 26, not only did the platform boost gig workers’ incomes by Sh2.2 billion annually — 37 per cent more than their next best alternative – but also […]
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Airtel Money Kenya has signed a partnership with Naivas Supermarket that will allow Airtel Money customers to deposit and withdraw cash across Naivas branches countrywide. The deal is part of Airtel Money’s proactive strategy to expand its agent footprint and get closer to the customer. Speaking during the signing ceremony, Airtel Money Managing Director, Ms. […]
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Family Bank Group’s profit before tax for the nine months of 2024 grew by 8 per cent to Sh3.26 billion, up from Sh 3.02 billion in the same period last year thanks to a significant increase in income across various revenue streams. Total interest income surged by 29 per cent to Sh14.6 billion, buoyed by […]
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KCB Group PLC has recorded Sh45.8 billion in profit after tax for the first nine months of the year on the back of sustained revenue growth. This was a 49 per cent growth from Sh30.7 billion posted a similar period last year. Revenues increased by 22 per cent to Sh142.9 billion, bolstered by both funded […]
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Energy Cabinet Secretary (CS) Opiyo Wandayi has said preparations are underway to expand the Kisumu Kenya Pipeline Corporation (KPC) depot to handle higher volumes. This comes after the operationalisation of the Kisumu oil jetty which has increased the demand for petroleum products destined to Uganda and other neighbouring countries. The proposed expansion, he said, will […]
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Johnnie Walker Blue Label reaffirmed its leadership in the premium whisky market with an exclusive Blue Party held at the Kisumu Yacht Club Saturday, November 16. The invite-only event brought together more than 200 guests from the Western region’s business and social elite, offering a night of refined luxury, fine dining, and premium whisky. It […]
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PZ Cussons East Africa has launched a Sh100 million transformation program aimed at the growing luxury skincare industry. Speaking during the announcement of its latest Venus strategy for the skincare category, PZ Cussons’ Managing Director Sekar Ramamoorthy said the initiative was informed by consumers moving towards higher-valued items in the category that historically dominated the […]
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