Prime News Kenya

Current Business News in Kenya: Banking | Economics

KCB nears Equity market valuation

KCB Group has nearly eliminated the market capitalisation gap between it and rival Equity Group as the latter loses its traditional large trading premium over the country’s largest bank by assets.

KTDA pays second best tea price as Sri Lanka leads

The Kenya Tea Development Agency (KTDA) had the second best price in the world market as low earnings in 2019/20 financial year saw Sri Lanka dislodge it from the top position that it held last year.

Kenyan shilling under focus as remittances fall

The Kenyan shilling is in the spotlight as diaspora remittances fell for a second straight month amid expected pressure from the demonetisation of the old Sh1,000 note that has raised liquidity in the market.

KRA freezes Africa Union’s firm accounts over arrears

The Kenya Revenue Authority (KRA) has frozen bank accounts owned by Africa Union’s reinsurance firm over a Sh12.8 billion tax bill, setting the stage for a battle between Nairobi and the continental body.

Co-op Bank set to launch five new branches

Co-op Bank is set to open five new branches, taking its total physical outlets to 160 despite the industry’s growing focus on digital banking channels.

NSE to map listed firms’ gender balance in study

The Nairobi Securities Exchange (NSE) has inked a pact with gender equality data and insights provider Equileap and New Faces New Voices to conduct a joint study to evaluate Kenyan- listed companies’ performance on gender equality.

Top cement companies face excess capacity risk

Excess capacity in cement production in Kenya is likely to occur with the planned expansion of production by four major manufacturers, says a new report by local brokerage firm AIB Capital.