ILAM Fahari I-REIT unitholders give thumbs up to delisting
Unitholders of ILAM Fahari Real Estate Investment Trust have approved the proposed operational restructuring and the delisting of the REIT
Read MoreUnitholders of ILAM Fahari Real Estate Investment Trust have approved the proposed operational restructuring and the delisting of the REIT
Read MoreJust like dinosaurs such as myself are transitioning from physical newspapers to the digital world, the future of the traditional medium appears as uncertain as the old media. Early this year, the giant US online retailer Amazon ceased offering subscriptions to newspapers and magazines. The giant online retailer did not provide a reason for this sudden action, though it is evident that fewer and fewer individuals are subscribing to these services. Consequently, continuing to support subscribers for Amazon would have been a financially unwise decision. The sale of news subscriptions has historically proven challenging for many medium-sized organizations, including those here in Kenya. Therefore, the…
Read MoreIn the ever-evolving landscape of modern commerce, the convenience of tap-and-go payment systems has become an undeniable allure for consumers
Read MoreRegional lender KCB Group has achieved a significant milestone by becoming the first financial institution in the region to exceed
Read MoreKenya has announced a shift in its financing strategy, pivoting towards concessional loans due to uncertainties surrounding access to global
Read MoreThe net earnings of regional lender Equity Group for the third quarter increased by 5 percent to Kes36.2 billion, driven
Read MoreThe International Monetary Fund (IMF) announced on Thursday that it has secured a provisional agreement with Kenya, allowing for the immediate disbursement of $682.3 million (KES 103.85 billion). The country has also secured an augmentation of the current program’s funding by $938 million (142.76 billion). The IMF noted that uncertainty surrounding Kenya’s ability to access financial markets had been placing significant strain on liquidity. This was primarily attributed to the impending maturity of a substantial Eurobond, valued at $2 billion and set to mature next year. Haimanot Teferra, the head of the IMF’s Kenya mission, explained, “The tightening global financing conditions for frontier economies and…
Read MoreIn the race to enhance environmental sustainability across East Africa, Tanzania is pressing the gas pedal in the deployment of
Read MoreThe reintroduction of M-PESA charges, along with the onboarding of more merchants on Lipa Na M-PESA, has increased M-PESA’s contribution to Safaricom’s earnings by 16.5 percent or Kes66.2 billion in the half that ended on September 30. Safaricom reports that business-related payments, such as bill payments and purchases, increased significantly by 40.2 percent or Kes17.6 billion YoY in the same period when M-PESA merchants saw a 22.3 percent uptick to 658,000. Out of the Kes18.3 trillion in transactions processed through M-PESA during this period, Kes 10.1 trillion, or 55.4 percent, were subject to charges, reflecting a 64.3 percent year-on-year increase, according to Safaricom. However, Safaricom…
Read MoreA rebound in agriculture, driven by favorable weather conditions, along with increased activity in the services sector, is expected to anchor Kenya’s growth next year. NCBA Managing Director and CEO John Gachora has identified these two sectors as the drivers of the country’s GDP growth, which could hit 6 percent in 2024. “Agricultural output is likely to expand by 5 percent in 2024, according to our internal projections,” Mr Gachora stated during NCBA’s Economic Forum held under the theme “Macroeconomic Outlook; Divergence Across Economies and Sectors.” On agri-export flows, including coffee, tea and horticultural crops, the lender says they will remain within their long-term-average trend…
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