“A combined entity would create a complementary base of over 38 million customers, a strong digital proposition and a robust corporate and asset finance offering.” NIC Bank and Commercial Bank of Africa are set to begin talks on a potential merger they said in a joint statement on Thursday. “The boards believe that combining the business of two highly profitable entities would create enhanced capacity through capital consolidation and strong liquidity to capture strategic growth opportunities,” they said. The transaction will be subject to shareholder and regulatory approval, would allow both banks to invest in new technology, boost products for…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Kenya Airways will from January 2019 cut flights to five per week to New York from Nairobi due to IATA winter schedule and not low passenger numbers on the route. “The frequency from January will be five daily flights then when the demand is high, we shall resume daily flights, said Mikosz, CEO KQ. https://youtu.be/e2MG–SWHfs?t=36 Mikosz during an interview with Kenya’s Citizen Television on Wednesday, he said their target is to achieve 65% bookings. In a statement, Mikosz further said, “As the only airline that offers a non-stop flight between East Africa and the USA, this route remains significant to…
Kwese, a subsidiary of Econet is now offering video-on-demand streaming service in its new Kenyan broadcasting strategy, and a first in Kenya. The new VoD service will deliver the fastest streaming services in Africa, offering the most diverse VOD content yet available in Kenya: from global video-on-demand providers including Roku, Netflix, Kwesé iflix, YouTube, TED, and RedBull TV. “Kwesé Play will offer the ultimate entertainment experience for viewers looking for diversity and choice,” said Kennedy Ojung’a General Manager at Kwesé. The Kwesé Play device will be available from Monday, 10th December 2018 for online pre-orders on Jumia for Sh 6,000 inclusive…
Kenindia Assurance is repositioning itself for accelerated growth within East Africa through product diversification. Kenindia Managing Director Mr. Inderjeet Singh said that their 40 years of experience and national presence has given the brand the ability to understand the needs of the market, and bring to the table innovative products and quality financial solutions and services that essentially deliver unique experience to their customers. “As we celebrate our 40th anniversary, it is our vision to move to a strategic position regionally to address and meet the demands of an ever-changing customer base with the aim of creating a cohesive business…
The Central Bank of Kenya’s Monetary Policy Committee will hold its next rate-setting meeting on January 28, 2019. It’s last meeting of 2018 in November, the MPC held its benchmark lending rate at 9.00% with expectations that the headline inflation will remain within the 2.50% – 7.50% target band. Read: What Economic Experts are saying after CBK leaves lending rate unchanged at 9pct
Telkom Kenya has commenced the survey for the 30 Terabyte Fiber cable that runs for approximately 4,000 kilometers, interconnecting Djibouti, Somalia and Kenya. The consortium led by Djibouti Telecoms, Somtel and Telkom Kenya, kicked off the preparation for DARE 1 (Djibouti African Regional Express) – soon to be Kenya’s largest Fiber Optic cable that is expected to land in 2019. Mr. Kebaso Mokogi, the Managing Director of Telkom’s Carrier Services Division, says “Telkom will provide the landing point in Mombasa with the opportunity to invest as a shareholder. The new cable has the biggest capacity yet, delivered on newer technology,…