Creditinfo Group has introduced a scorecard solution tailored to help SMEs in Kenya access easy funding from financial institutions. The global credit information and decision analytics provider says the solution will be rolled out across Africa in due course. The solution utilises a unique approach to data and algorithms to help financial institutions facilitate financing to the SME market, which has typically been less able to access finance. This is delivered in a software platform that unifies, streamlines, automates and centralizes the risk evaluation process. https://khusoko.com/2020/02/14/how-commercial-banks-track-the-creditworthiness-of-business-enterprises/ Commenting on the new venture, Burak Kilicoglu, Director of Global Markets at Creditinfo, noted…
Author: Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Nairobi’s Intercontinental Hotel has kick-started the process of seeking a consultant to advise on the management of the property. Kenya Hotel Properties (KHP), the holding company that owns InterCon through a tendered notice, said: ”The terms and references are for the engagement of a qualified consultant to guide in strategic options towards best use utilisation of the firm’s property situated along Parliament Road near Holy Family Basilica,” the notice reads. “Define the various strategic options available for the company premises and adjacent parking silo to repurpose the property to ensure maximum returns on investment,” said KHP in a notice seeking…
Gross revenues +22% to Kshs 20.3B – Net Revenue +19% to Kshs 12.5B Cost of operations +27% Operating Profit +4% Profit before tax +5% to Kshs 3.9B PAT Kshs 2.7Bn EPS Kshs 26.98 BAT Kenya’s net income rose by 0.71% in the first half of the year increasing by KSh19 million to KSh2.69 billion for the six months to June. The higher earnings were attributed to increased sales volumes. “Gross revenue increased by 22 per cent to Ksh 20.3 billion driven by the recovery of domestic sales volumes, excise-led price increases and sustained momentum on export sales,” the cigarette maker…
Motor vehicle dealer Isuzu East Africa has crossed100,000th production milestone since the commencement of operations in 1977, the company said on Monday. The commercial vehicle assembler in the region celebrated the milestone at a ceremony to unveil the vehicle held at its Nairobi assembly plant. Isuzu EA Managing Director Rita Kavashe said the 100,000th vehicle was a demonstration of the huge vote of confidence that customers have in Isuzu products. “As our way of saying Asante, we shall be announcing a raft of rewards for our customers over the next three months so that we can celebrate this milestone together,”…
Atlas Mara Limited, the sub-Saharan African financial services group, says it has secured regulatory approvals to sell its banks in Rwanda and Botswana. Kenya’s KCB Group Plc signed a definitive agreement with Atlas Mara to acquire Banque Populaire du Rwanda Plc (BPR) and African Banking Corporation Tanzania (BancABC). In the agreement, KCB will acquire a 62.06% stake in Banque Populaire du Rwanda Plc (BPR) and a 100% stake in African Banking Corporation Tanzania Limited (BancABC) from ATMA in Rwanda and Tanzania, respectively. However, the financial institution listed on the London Stock Exchange still waits for approvals from Tanzania. “The Company…
Kenya’s foreign exchange reserves increased by $31 million to a high of $9,621 million (Ksh.1.04 trillion) in the week ended July 16, CBK data showed on Friday. This represents 5.87 months of import cover. This is compared to the previous week where the reserves surged $9,550. “This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover,” the CBK said. The increase in forex reserves was on account of the diaspora remittances of Ksh.33 billion ($305.9 million) in the month of June. …