Author: Muindi

KCB Group recorded a 28% increase in net profit for the six months ending June 30, 2022, to KSh 19.6 billion. The growth from Ksh 15.3 billion was due to an improvement in both the funded and non-funded income streams. Total operating income increased by 16.8 per cent, mainly driven by a 29.9 per cent growth in non-funded income. Group businesses increased their profit contribution to 16.8 per cent, driven by new business growth and the impact of BPR Bank. KCB Group CEO Paul Russo said they delivered solid results, supported by their diversified business model, as they sharpened their…

If approved, the farm would be the fourth wind power plant in Kenya after KenGen’s Ngong wind plant (26.1MW) in Kajiado County, Lake Turkana Wind Power (LTWP) plant (310MW) in Marsabit County, and Kipeto Wind (100MW)

Diaspora remittances are part of Kenya’s largest foreign exchange earner, largely contributing to the country’s forex reserves to stabilise the shilling.

Agricultural firm Kakuzi Plc’s half-year profit to June 2022 rose 75 per cent to Ksh. 341.3 million from Ksh. 194.6 million in the same period last year. The high profits are attributable to more significant revenues, with sales topping Ksh.1 billion in the period from Ksh.888.9 million. Kakuzi Managing Director, Mr. Chris Flowers, said, “The prices for early season avocados were poor, but they have slowly recovered as the months have progressed. Having fruit in the market for as many months of the year as possible has shielded us from the poor early season market.” “In addition, entry into China is…

The bonds, FXD1/2022/03, FXD2/2019/10, and FXD1/2021/20, sought to raise Ksh 50 billion for budgetary support.

Standard Chartered Bank Kenya net interest income increased 10% due to higher asset volumes and an expansion in net interest margin.