A total of 22 Awards were presented at the African Banker Awards 2022
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Electricity demand in Kenya has surpassed November 2021’s demand, with the peak in May being 2,051MW up from 2,036MW recorded in November 2021. KenGen, Kenya’s biggest electricity producer says this points to accelerated growth and recovery in demand which slowed down in the wake of the COVID-19 pandemic. The new peak demand was recorded on 12th May 2022 in the Daily System Operation and Dispatch Analysis Report by Energy and Petroleum Regulatory Authority (EPRA). This growth was driven mainly by renewable energy sources with geothermal energy making the greatest contribution, giving a further boost to Kenya’s climate action agenda. According…
Kenswitch’s interoperable network provides over 2,200 ATMs, 20,000 plus Agency Banking outlets and over 15,000 merchant POS outlets.
I&M Group PLC reported a rise of 44 percent in its consolidated profit after tax at Ksh 2.7 billion compared in the quarter ended March 2022 compared to Ksh 1.9 billion in the same period in 2021. The Group’s balance sheet and income metrics improved on the backdrop of a solid capital base and strong liquidity. The Group’s balance sheet grew steadily with total assets growing by 18%. The loan portfolio grew by 13% to Kes. 218.4 billion as at 31st March 2022 and Government securities were up by 21%. The net non-performing loans decreased by 31% year on year…
The Central Bank of Kenya has floated an 18-year Infrastructure bond worth KSh 75 billion to fund infrastructure projects in the 2021/22 fiscal year budget estimates. According to the CBK prospectus, the coupon rate for the bond will be market-determined. The sale period is from 23rd May 2022 to 7th June 2022. The value and payment date is 13th June 2022, with investors required to place bids at a minimum of KSh 100,000.00. The bond will be fully redeemed on 21st May 2040, with the first interest payment scheduled for 12th December 2023. CBK requires bidders to submit their bids…
Somalia President Hassan Sheikh Mohamud was inaugurated for a four-year term during a ceremony on Monday at the Presidential Palace. https://twitter.com/HassanSMohamud/status/1528704853685542912?s=20&t=-XjqbZB-jhTWbyD5r1mKfQ The 67-year-old Mohamud, former Somalian president from 2012 to 2017, received 214 votes, defeating Mr Mohamed Abudallahi Farmajo who won 110 votes out of 328 MPs who cast their votes. https://twitter.com/M_Farmaajo/status/1528730772852580354?s=20&t=-XjqbZB-jhTWbyD5r1mKfQ Khusoko is now on Telegram. Click here to join our channel and stay updated with the latest East African business news and updates.