Author: David Indeje

After reporting a jump in its net profit, Equity Group Holdings declared a dividend of Sh4 per share for 2022, a 33 per cent rise from Ksh 3 paid in 2021. The dividend payout amounts to KSh15.1 billion—an equivalent of 33 per cent of net earnings. The dividend will be paid on or before June 30 to the members in the company’s share register on the closure of May 19. However, this will be subject to approval at the annual general meeting on June 21. https://twitter.com/KeEquityBank/status/1640612391774724098?s=20 “Equity is not about numbers. It is a human story built to solve problems in…

Kenya Airways reported a loss of KSh38.2 billion for the fiscal year ending December 2022, double the KSh15.8 billion previously. In January, the Kenyan national airline’s Board of Directors announced that earnings for the year would be lower by at least 25% due to foreign exchange (Forex) losses. “The tight forex demand had a significant impact on Kenya Airways’ financial transactions which are mainly carried out in the major foreign currencies, specifically the devaluation of the Kenya Shilling,” KQ CEO Allan Kilavuka said Monday. “If you remove the impact of those losses and the abnormal fuel cost increase of 160…

Saudi Arabia is now connected to Dar es Salaam, Tanzania’s largest city and former capital, by direct flights that commenced on Sunday, March 26, from Jeddah to the Julius Nyerere International Airport. The airline will fly between JNIA and King Abdulaziz International Airport four times a week: Tuesdays, Thursdays, Fridays, and Sundays. The flights by Saudia Airlines are part of increasing ties between Saudi Arabia and Tanzania. Tanzania’s Works and Transport Minister Makame Mbarawa said the airline will boost the number of international travellers to the country. https://twitter.com/svmedia_center/status/1639974557267230720?s=20 “The expansion of SAUDIA’s operations and the launch of new direct flights…

Safaricom Foundation will focus on three strategic areas to improve the quality of life in the communities in line with its 2023–2026 strategic plan. The 2023–2026 strategy is themed “Partnering to Enhance Equity” and focuses on three strategic areas: education, Health, and economic empowerment. The Foundation states, “By partnering to enhance equity in health, education, and economic empowerment, we aim to create a more inclusive and equitable future for all.” “These pillars will enable the Foundation to deepen its engagement with communities and are aligned to Safaricom Plc’s purpose of transforming lives and its total societal impact.” In the 2023–2026…

Diamond Trust Bank (DTB) has said it will continue to focus on the small and medium-sized enterprises (SMEs) and retail customer segments as it intensifies its expansion drive. DTB opened three new branches in Baba Dogo, Kijabe Street, and Kiambu Town, pushing the Group’s branch network to 70 in Kenya and 138 across East Africa.  “DTB’s growing network of branches represents our ongoing commitment to be closer to our customers and providing them with easy and convenient access to our services,” DTB Group Chief Executive Officer Nasim Devji said.  “The new branches, targeting traders, farmers, and other business owners and…

Agricultural firm Kakuzi Plc’ reported a 62 per cent year-on-year (YoY) growth in profit at Sh845.8 million for the FY 2022, which ended December 31 2022. The firm said the earnings growth resulted from increased production volumes of quality export-grade Avocado and other products experiencing reasonable sales.  In a statement, the managing director, Chris Flowers, said total sales revenue amounted to KSh4.4 billion, up from KSh3.2 billion posted the previous year. “The Kakuzi Plc market and product diversification strategies complimented by the enhanced environment, social and corporate governance commitments are paying off, as the trading results indicate. The diversification efforts…