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Davis and Shirtliff mulls entry into DRC market
The firm is already in Uganda, Tanzania, Rwanda, Zambia, Ethiopia and South Sudan and operates through a network of 48 branches, with 28 in Kenya/FILE NAIROBI, Kenya, May 13 – Davis and Shirtliff is...
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Pensioners assets to hit Sh1 trillion mark by end of 2016
This is according to Retirements Benefits Authority Chief Executive Edward Odundo who says this will be possible if the industry maintains 10 percent annual growth/FILE NAIROBI, Kenya, May 16 – Kenya’s...
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Stanchart has no intention of buying out smaller banks
The bank, which the oldest commercial bank in the country says the measures that have been taken by the Central Bank of Kenya will give assurance to stakeholders that the overall banking system is...
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First Carrefour Hypermarket store opens at the Hub Mall, Karen
The store has so far recruited just over 200 staff members at the Hub hypermarket and projects to employ over 500 by the end of 2016 NAIROBI, Kenya, May 17 – French retail giant Carrefour has opened...
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Co-op Bank posts Sh3.44bn net profit in 2016 Q1
The performance was attributed to growth in the loan book that supported a 25 percent rise in interest income from loans to stand at Sh8.3 billion compared to Sh6.7 billion recorded in the same period...
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Insurance fraud hit Sh366mn last year, a 257pc shoot
This is according to the Insurance Regulatory Authority 2015 fourth quarter report/FILENAIROBI, Kenya, May 18 – Fraud in the insurance sector hit Sh366 million in 2015, a 257pc percent shoot from 2014...
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I&M shareholders approve bid to acquire Burbidge Capital
I&M Holdings Chairperson, Daniel Ndonye said the Group is pursuing several strategic projects geared at placing the firm in a good position to harness growth opportunities locally and in the...
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Karuturi directors challenge appointment of PwC liquidators
Flower Farm / Courtesy NAIROBI, Kenya, May 20 – Directors of the troubled Karuturi Limited have moved to court under a certificate of urgency urging the court to appoint an independent and qualified...
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Over 200 new accounts opened at Chase Bank
Chase Bank was reopened after having been shut down for two weeks for failing to meet its financial obligations/FILE NAIROBI, Kenya, May 24 – Over 200 new accounts have been opened at Chase Bank since...
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Heads to roll at KQ following audit findings
The objective of the forensic investigation is to review the operations, systems and internal controls of the airline over the last five years/FILE NAIROBI, Kenya, May 24 – Kenya Airways is set to...
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NBK’s non-performing loans hit Sh15bn
The bank has posted Sh334 million net profit in the period under review from a pre-tax loss of Sh1.18 billion recorded in the full year 2015/FILENAIROBI, Kenya, May 26 – The National Bank of Kenya’s...
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Bad debts hamper KCB Group first quarter growth
The bank recorded Sh26 billion non-performing loans in the period under review, up from Sh18 billion same period last year and Sh20 billion recorded as at December 31, 2015/FILE NAIROBI, Kenya, May 26...
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Disregard negative media reports, Dr Kirubi advises investors
“International investors need to come and understand the African culture and the people,” Dr. Chris Kirubi/CFM NAIROBI, Kenya, May 27 – Industrialist Chris Kirubi has urged investors to disregard...
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Capital from mergers, acquisitions hit Sh12b in 2015
Manufacturing was the leading sector at 16 percent followed by the financial sector at 9 percent/FILE NAIVASHA, Kenya, May 30 – Direct capital from mergers and acquisitions in Kenya hit Sh12 billion in...
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Nairobi Western Bypass construction gets underway
The construction is expected to cost Sh17.3 billion and will be funded through a concessionary loan from the Government of China/FILE NAIROBI, Kenya, Jun 2 – The Kenya National Highway Authority...
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Battle for Kenya beer market heats up with entry of Atlas Beer
Jovet Kenya Ltd, the local distributor signed the deal to distribute Bavaria’s major rival brand Atlas Beer/COURTESY NAIROBI, Kenya, Jun 2 – Battle for beer market in the country is set to turn a new...
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Kenyans don’t scout for cheapest credit in the market
The Central Bank of Kenya’s (CBK) decision to publish the average lending rates for commercial banks has raised hopes this will trigger lower interest rates/FILE NAIROBI, Kenya, Jun 3 – Banks have been...
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British firms ‘hungry’ for Kenya – Philip Hammond
“Kenya is in the middle of a period of huge growth, and the UK is in prime position to support this growth and to help Kenya to become the regional and international business centre that it has the...
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I&M Holdings acquires Giro Bank for Sh5.09bn
The Sh5.09 billion represents about 11 percent of I&M Holdings’ market capitalisation using the acquisition price/FILE NAIROBI, Kenya, Jun 6 – I&M Holdings has disclosed transaction value of...
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Hope for tourism sector as international arrivals register growth
Tourism Cabinet Secretary Najib Balala says international arrivals for the period under review hit 263,284 compared to 231, 038 in 2015/FILE NAIROBI, Kenya, Jun 6 – Kenya’s tourism projects hope as...
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