Stanbic holdings records ksh4.4b net profit in 2016

By Claire Wanja Stanbic Holdings Plc has recorded Kshs 4.4 billion in after-tax profits for the year ended 31 December 2016. This is an 10% decrease...

SBM Holdings to acquire Fidelity Bank

By O’Brien Kimani Mauritius based lender SBM Holdings has announced plans to acquire local mid-tier lender Fidelity Bank according to regulatory filings. SBM Holdings will...

OPEC reaches first output cut in eight years

By Stanley Wabomba Oil prices and energy shares swept higher on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut...

Kenya’s private sector growth strengthens at year-end: Report

By KNA Kenya’s private sector expansion gathered momentum in the month of December, having stalled somewhat just two months earlier – CfC Stanbic Bank Purchasing Managers’...

Kenya clinches $200 million World Bank water deal

By PSCU Kenya and the World Bank have sealed a $200 million water supply project that will bring relief to residents of Mombasa. On the margins...

President Kenyatta recommends 35pc tax on betting

By PSCU President Uhuru Kenyatta has recommended that betting, lotteries and gaming activities should be taxed at the rate of 35 percent. The President made the...

World Bank lowers 2016 growth projections for Sub-Saharan Africa

By Jeremy Ogolla/Reuters The World Bank on Monday lowered its 2016 sub-Saharan African growth forecast to 3.3 percent from a previous forecast of 4.4 percent...

Kenya fast-tracks law to consolidate building permits

By Margaret Kalekye/Xinhua Kenya plans to fast-track enactment of a law that will consolidate all building levies and permits. Ministry of Lands, Housing and Urban Development...

Fast track Petroleum Bill, Nanok tells Parliament

By Christine Muchira The National Assembly should fast track the Petroleum Bill to ensure all stakeholders are aware of the new regulations to avoid conflicts,...

Kenya’s growth to slow down in 2017

By KBC Reporter Kenya is likely to experience slower growth in 2017 as more firms expect demand, production and profitability to fall in the first...
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