Sidian Bank, a mid-tier bank focusing on SMEs, says it recorded a strong performance across key indicators in the financial year 2020 ended December. The Bank made a profit before tax of Ksh 72 million despite the challenging COVID 19 environment, a 28% drop from the previous year’s profitability of Ksh 99 million. The profitability is attributed to growth in the loan book by 31% while customer deposits grew by 32%. As a result, the Bank’s balance sheet increased by 27% from Ksh.26.5 billion to Ksh.33.5 billion. The increased lending in the period resulted in higher loans interest income which…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
African Premier League 2021 (APL 2021), a new six-team T20 tournament commenced on Thursday at the Ruaraka Sports Club in Nairobi. featuring 33 T20 matches. The games will end on April 10, 2021. The competition is being shown exclusively to UK viewers through the sports broadcasting platform Recast. Viewers outside the UK can catch the live match on YouTube and Facebook Live from the comfort of their homes on Madgoat TV, a premier full HD online sports and entertainment broadcasting channel in Kenya. The annual competition will prove a showcase for the best emerging talent in Kenyan cricket, with T20…
Women in Technology Huawei (WITH), in partnership with Digitruck, have graduated 55 female trainees from a four-day soft skills training in Garba Tula, Isiolo County. This is part of the program’s women’s history month initiative to empower women through training. The trainees are part of the 150 young community health volunteers who will be receiving digital skills training over the course of the next month (April). Soft skills are essential as they enable out-of-the-box thinking, and have a significant impact on an individual’s work ethic and overall career success. As such, it has grown to become a point of emphasis…
Guaranty Trust Bank Plc (GT Bank), Nigeria’s biggest lender by market value estimated at $2.02 billion, plans to make a foray into the Kenyan market. GTB’s managing director, Segun Agbaje during the release of the bank’s Audited Financial Results for the year ended December 31, 2020, said “Amidst the many challenges that persist, we remain ardent believers in Africa’s growth potential. With our commitment to deepening customer relationships and intense focus on delivering innovative financial solutions, we enter 2021 well-positioned to lead this new world.” “I think the place we will still like to do business or do an acquisition…
WPP-Scangroup founder Bharat Thakrar has resigned from the marketing and communication group as chief executive and director of all WPP-Scangroup subsidiaries. This follows his suspension alongside the Chief Finance Officer, Mr Satyabrata Das over allegations of irregularities. “The investigation into the allegations of gross misconduct and possible offences against the two executives will continue,” the Board said in a statement Wednesday. Bharat has working experience in advertising and communications spanning over thirty-six years. He holds a Diploma in Advertising and Marketing from the Communications and Marketing Foundation – UK. He is a former chairman of the Advertising Practitioners Association (APA)…
OPPO Reno5 F announced during the launch of the Reno5 series is now available in the Kenyan market at Ksh31,999. The Reno5 F is packaged in a simple, yet elegantly thin design that uses OPPO’s new Flowing Light Design concept to introduce two dazzling colours. Muthoni Wachira, Head of Communications & Projects at OPPO Kenya said, “Reno5 F is the culmination of both user feedback and the extensive research conducted on the latest technology that’s being deployed on Reno5 F. The 30W VOOC Flash Charge 4.0 ensures that Reno5 F is a great accompaniment to your life.” “Just as has…