Author: Korir Issa

Business activity in Kenya’s private sector slowed in March, weighed down by rising input costs, according to Purchasing Managers’ Index survey published on Tuesday. The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) dropped from 52.9 in February to 50.5 in March, signaling a slower and only marginal improvement in the health of the Kenyan private sector economy. “The slowdown was driven by rising inflation which resulted in subdued demand growth by consumers and a contraction in output by producers,” said Kuria Kamau, Fixed Income and Currency Strategist at Stanbic Bank. “Input prices rose at the fastest rate in eight…

Standard Chartered Bank Kenya Thursday announced the second phase of its unique program — “Futuremakers”. This is an initiative that takes a systemic approach to supporting disadvantaged young women and young persons with disabilities in the labour market, through the provision of demand-led technical skills training, employability training, career guidance, and job placements. In 2020, StanChart launched the pilot program, in partnership with Light for the World. “Following this successful pilot programme, we are investing USD 850K to expand the 2nd phase. The lead strategic partners will be Sight Savers International and Light for the World. This will be a…

Stanbic Bank Kenya and the African Guarantee Fund for Small & Medium-sized Enterprises (AGF) Tuesday signed a Loan Portfolio Guarantee Facility to increase financing for Small and Medium Enterprises (SMEs) across the country. The Portfolio Guarantee Facility of Ksh 1 Billion will allow Stanbic Bank Kenya to expand their lending capacity and coverage to SMEs. The guarantee scheme will be in place for a renewable period of five years and will see the bank provide loans of up to KSh3 million to a single borrower. Florence Wanja, the head of business and commercial clients at Stanbic Bank Kenya says the…

Money market funds have always been touted as a simple, profitable, and risk-free investment option compared to others. It protects your capital, that is, your initial investment and any additional top-ups) from loss. It makes one of the most viable ways of making money as a conservative investor. The benefits you earn from money market funds are pretty modest since they are derived using compound interest. Every shilling that you invest is working for you – it constantly makes interest on top of your interests.  What you save is consequently invested in highly liquid, short-term instruments or government securities with…

I&M Holdings has registered a 2.4 percent rise in net profit for the year ended December 2021, supported by interest income from loans and investment in government securities. However, the growth was impeded by a 40.5 percent increase in operating expenses at Ksh 17.7 billion. The Group’s net profit witnessed marginally rose by 2.4 percent from Ksh.8.4 billion to Ksh.8.6 billion. The bank has recommended a 33.3 percent rise in dividend payout to KSh1.50 dividend per share or an aggregate of KSh2.48 billion compared to KSh1.125 per share and KSh1.86 billion in 2020. “2021, being the second year of the…

A growing need to increase its geographical footprint has prompted Eat’N’Go limited, the largest Domino’s Pizza and Cold Stone Creamery franchise in Africa to chalk out aggressive expansion plans. The company owns 18 branches in Kenya and plans to set up more stores by end of 2022 and within the East African region. The restaurant plans to open new stores in Eldoret, Kisumu, Nakuru, and Nanyuki. “There is a higher consumer span in Kenya. The strength and growth of the middle class here is a good opportunity for our business to grow. Nigeria only offers the population,” the Managing Director…