Absa Bank Kenya has resumed modest shareholder payouts after a year-long hiatus due to the COVID-19 pandemic it said Tuesday. The resumption came after it posted a pre-tax profit of Ksh 15.55 billion in 2021 a 75.7 per cent jump compared with the corresponding year in 2020 attributed to the growth in net interest income, driven by the small and medium enterprises segment. Absa Kenya Managing Director, Jeremy Awori, said the Bank’s strong performance is a reflection of customers’ resilience in a challenging environment and points to improving macro-economic conditions. “We have drawn inspiration from the resilience of our customers and…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Kabras Sugar Rugby Football Club reclaimed the 2022 Kenya Cup with a 34-28 victory over Menengai Oilers finals played at The Bull Ring in Kakamega on Saturday. https://twitter.com/RfcKabras/status/1502870475294351362?s=20&t=Vkf3woQ1xIbhp-N84r3R0Q This was the clubs’ first title since 2016. “Trailing 8-18 at the break, they dug deep and eventually secured the 34-28 victory at the Bull Ring,” the Kenya Rugby Union reported. https://twitter.com/OfficialKRU/status/1502691157901459456?s=20&t=Vkf3woQ1xIbhp-N84r3R0Q https://twitter.com/OfficialKRU/status/1502692970281246722?s=20&t=Vkf3woQ1xIbhp-N84r3R0Q Former champions KCB Rugby finished the season third after mauling Strathmore 52- 22 at their Ruaraka den. Khusoko is now on Telegram. Click here to join our channel and stay updated with the latest East African business news and…
The Central Bank of Kenya rejected bids worth Ksh 22.5 billion for its re-opened bonds FXD1/2021/05, FXD1/2020/15 and FXD1/2021/25 in March. The bonds subscription rate was at 81.9% due to the tightened liquidity in the money markets during the bonds’ sale period. The interbank rate averaged 5.6%, in comparison to an average rate of 4.7% in February 2022. The CBK had planned to raise Ksh 50 billion for budgetary support in the current fiscal year. It received bids worth Kshs 40.9 billion and accepted bids worth Kshs 18.5 billion, translating to a 45.1% acceptance rate. Investors preferred the longer-tenure issue;…
Chinese video-sharing app TikTok has launched SoundOn, an all-in-one platform for music creators. The platform allows artists to upload their music directly to TikTok and to distribute it to various music streaming services. No hidden transaction fee nor subscription fee will be charged, the app’s parent company ByteDance said. With SoundOn, artists will be able to distribute their music to TikTok’s in-house partners such as TikTok and Resso, and global streaming platforms such as Apple Music, Deezer, Joox, Pandora, and Spotify. They would be able to view the list of platforms and choose which stores they’d like to distribute to…
Kenya Airways on Monday said it would commence daily flight services between Nairobi and London under a route network review program that affects both local and international routes. “The network review is routine and is informed by the return to air travel as the aviation industry recovers from the COVID-19 pandemic. As a result, some routes will have frequency increment, frequency reduction, schedule changes, suspension and postponement of route opening,” the airline said in a statement. Under the program, KQ will increase frequency for the London route throughout winter from planned five times weekly to daily marking the fastest recovery…
Stanbic Bank inaugurated its branch in Kisumu City in response to the expanding market and the dynamic customer needs. The new branch is set to be a one-stop hub where customers can carry out all their banking and transaction needs 24/7 anytime with the inclusion of Cash Deposit Machines and ATMs. Following the branch opening, the Stanbic Kenya Foundation signed an MoU with the county government, part of the bank’s FutureNiDigital campaign. The campaign was launched in 2021. https://twitter.com/StanbicKE/status/1499716898367447049?s=20&t=OyAKbpKylinKP_GqMyfTHw As outlined in the MoU, the Stanbic Kenya Foundation and the county government will offer training on digital knowledge and skills;…