Business

I&M Bank profits increase to Sh 3.5 billion in 2023

The performance was boosted by a rise in interest income which grew by 38% to Sh8.39 billion.

Mastercard announces Sh13m Edtech funding for African startups

A total of 12 startups across the continent have been shortlisted for the funding

Kenyan MSMEs among those with highest lay-offs -report

High cost of borrowing affecting business expansion and operations.

Petroleum dealers concerned over proposed taxes in Finance Bill

These are mainly Motor Vehicle Tax, eTIMS penalty and Withholding VAT.

Acorn secures Sh23.6bn US funding for affordable student housing

This is in a deal with the U.S. Development Finance Corporation.

Deadline looms for corporate trustees to register with RBA

From the beginning of adoption of trust law in Kenya, individual trustees of the scheme had reduced from 15 to nine

Kenya-Gulf G2G oil deal to spill into 2025 – EPRA

The country is courting Rwanda for more exports after after Uganda opted to import its own.

Investors, industry leaders to meet in Nairobi for 2024 Africa venture summit

African startups fell by around 27 percent in 2023, while the number of investors dropped by half.

KRA seeks budget allocation be pegged above 2% of revenue targets

In its proposals the taxman says Sh57 billion allocation will be required to meet its goals.

Fusion Capital picks Waithima to sit on LOLC board

The CEO, Daniel Kamau, has been picked as his alternate representative

Jubilee Life Insurance appoints Asman Mugambi new CEO

Prior to joining Jubilee, he was the General Manager, Commercial and Operations at ICEA LION Life.

Kenya records low privately funded infrastructure projects

Kenya had the least number of investment commitments as well as the privately funded projects

Kenya Power wants total ban on copper exports to curb vandalism

Last year alone, Kenya exported copper waste and scrap worth Sh6.7 billion.

KCB regains top bank badge with 69% profit jump

The lender's Q1 results show net profits almost doubled to Sh16.5 billion from Sh9.8 billion in Q1 of 2022.

Visa deal opens up credit shopping at Naivas

The BNPL Gross Merchandise Value in the Kenya is expected to increase to rise to Sh250.8billion by 2028.

Mombasa-Zanzibar direct flights to begin on  July 1

The journey will cover 55 minutes each way.

Buyers move to rural fringe for cheaper beach properties - report

Knight Frank reveals coastal homes at 400%+ spread in prices, by location.