The main port in Kenya, serving multiple countries in the area, experienced an 11.9% increase in container traffic in 2023. This growth reflects a rebound in trade and economic activities, according to the Kenya Ports Authority (KPA). The traffic at Mombasa Port serves as a barometer for economic activity in neighboring countries such as Uganda,…
Here are top 10 personal loans offered by Kenyan banks with the lowest interest rates. Personal loans can be a real lifesaver when unexpected expenses pop up or when you need quick cash for various purposes like organizing events or urgent trips. It’s crucial to find the best rates to avoid hefty interest charges, so…
The world’s largest asset management firm, BlackRock, has made a significant investment in the Nairobi Securities Exchange (NSE) after a four-year hiatus, marking a win for the Kenyan bourse as it emerges from its toughest year yet. Kamau Thugge, the Central Bank of Kenya (CBK) governor, shared in a recent meeting with bankers that he…
Moove, a mobility fintech company founded in 2020 by Ladi Delano and Jide Odunsi, has recently secured a significant investment of $100 million in its Series B funding round. This investment is led by Uber and includes participation from other notable financiers. About Moove Since its inception, Moove has expanded its operations into nine markets,…
KCB Group is set to sell its struggling subsidiary, National Bank of Kenya (NBK), to Nigerian lender Access Bank, as confirmed by KCB Group CEO Paul Russo. The sale will be at 1.25 times NBK’s book value, reflecting KCB’s successful turnaround strategy over the past four years. Access Bank, which already has a presence in…
In Kenya, banks are vital institutions that provide a wide range of financial services to individuals and businesses. A bank essentially acts as a financial intermediary, accepting deposits from customers and providing loans while offering various other services like currency exchange, safe deposit boxes, and investment opportunities. There are different types of banks. Here are…
Kenya has secured the honor of hosting the 2024 Transform Africa Summit (TAS), organized by the Smart Africa Alliance. Scheduled from August 28-30, this summit is set to become a key event in Africa’s technology landscape. The Transform Africa Summit is an annual gathering convened by the Smart Africa Alliance, bringing together over 5,000 delegates….
During Safaricom Investment Co-operative’s 15th Annual General Meeting, shareholders approved a rebate payout of KSh 142.4 million. This rebate announcement came after Safaricom Investment Co-operative Society realized a net profit of KSh 203.4 million for the fiscal year ending December 31, 2023. In comparison, the society had reported net profits of KSh 266 million in…
