Topic: East Africa
Why CMC Motors is exiting East Africa after operating for more than 40 years
Jan 17, 2025 at 02:38 PM
CMC Motors Group has announced plans to gradually cease operations in Kenya, Tanzania, and Uganda, citing persistent market challenges....
Mombasa port solidifies regional trade hub status with record cargo volumes
Jan 10, 2025 at 05:06 PM
The Port of Mombasa recorded a milestone in 2024, handling 41.1 million tonnes of cargo, a 14.2 per cent increase from the 35.98 million tonnes managed in 2023....
Kenyan fintech Leja surpasses Sh256 billion in B2B transactions in 2024
Dec 10, 2024 at 01:54 AM
Kenyan fintech firm Leja has announced that its B2B payment service has processed $2 billion (approximately Sh259 billion in transactions since its launch earlier this year....
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Sochitel Group brings its cross-border digital products to Kenya, East Africa
Dec 04, 2024 at 01:56 AM
Sochitel Group has announced the launch of its e-voucher solutions in East Africa in an endeavor to offer services that simplify transactions and enhance business efficiency....
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AERC Summit to explore Africa's US$65 billion FinTech growth by 2030
Nov 25, 2024 at 06:55 PM
Africa’s FinTech market is projected to surge thirteenfold to US$65 billion by 2030, with a compound annual growth rate (CAGR) of 32 per cent, according to a recent report by pro...
KCB Group post-tax profits soars by 49 per cent to Sh45.8 billion in Q3 2024
Nov 21, 2024 at 12:58 AM
KCB Group Plc has reported an impressive 49 per cent increase in its profit after tax, reaching Sh45.8 billion for the first nine months of 2024, up from Sh30.7 billion in the same...
Tanzanian giant AMSONS Group secures green light for Bamburi Cement takeover
Nov 14, 2024 at 06:03 PM
Tanzanian conglomerate AMSONS Group has received major regulatory approval to acquire up to 100 per cent of Kenya’s leading cement manufacturer, Bamburi Cement PLC....
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Watu Simu hits 1 millionth customer milestone in Kenya’s mobile finance market
Nov 12, 2024 at 10:28 AM
Watu Simu, a subsidiary of Pan-African asset finance provider Watu, has achieved a landmark success by selling over one million smartphones in Kenya—a significant stride in bridg...
Inside CIC's debut sustainability report
Nov 08, 2024 at 11:10 PM
CIC Insurance Group has unveiled its first-ever sustainability report signalling a robust commitment to empowering communities with risk management solutions crafted for resilience...
Full details, price and availability of Samsung Galaxy S24 FE in Kenya
Oct 24, 2024 at 09:41 PM
Samsung has finally introduced the Galaxy S24 FE in the Kenyan market, expanding its Galaxy AI ecosystem to provide premium mobile experiences at a more accessible price....
HMD Skyline series launches in Kenya, bringing innovation to affordable tech
Oct 04, 2024 at 03:13 PM
HMD Global has officially unveiled its much-anticipated HMD Skyline series smartphones in Kenya heating up the competition in the mid-range smartphone segment....
Safaricom secures Sh30 billion loan to strengthen its sustainability agenda
Sep 24, 2024 at 12:19 PM
In a bold move to cement its leadership in sustainability, Safaricom has secured a second Sh15 billion Sustainability Linked Loan, doubling its total to an impressive Sh30 billion....
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DTB reports Sh4.9 billion net profit with 12 per cent growth in half-year results
Aug 26, 2024 at 11:15 PM
Diamond Trust Bank (DTB) has posted strong financial metrics in its half-year results, underlining the success of its strategic initiatives....
Jubilee Insurance launches campaign to boost financial literacy in East Africa
Aug 16, 2024 at 04:36 PM
Jubilee Insurance has introduced a new campaign, "There’s Living, and There’s Living Free," aimed at improving financial literacy across East Africa....
Local edible oil manufacturers cry foul over Govt's new 10 per cent tax
Aug 01, 2024 at 01:53 PM
Edible oil manufacturers are up in arms over a newly imposed 10 percent import duty on crude palm oil, a key ingredient in the production of cooking oil and other household staples...
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Kenya and Uganda begin talks on key pipeline extension project
Jul 30, 2024 at 12:34 PM
A new era of regional energy cooperation is dawning as Kenya and Uganda forge ahead with plans to extend the crucial petroleum products pipeline from Eldoret to Kampala....
Standard Chartered unveils strategic investment insights for H2 2024
Jul 29, 2024 at 11:05 PM
s the world teeters on the brink of significant economic shifts, Standard Chartered has unveiled its Global Market Outlook for the latter half of 2024....
Danger on wheels: COMESA raises alarm on faulty airbags in imported vehicles
Jul 23, 2024 at 11:55 PM
A looming crisis is unfolding in the East African region as a regional watchdog raises the alarm over potentially deadly airbags in millions of vehicles circulating within its bord...
Amsons Group faces Sh682m break-up fee should its Bamburi Cement bid flop
Jul 18, 2024 at 09:46 PM
Tanzanian conglomerate Amsons Group has outlined a Sh682.7 million ($5.31 million) break-up fee should its proposed acquisition of Nairobi Securities Exchange-listed cement manufac...
Ford Foundation responds to Ruto on alleged links to Gen Z tax demos
Jul 16, 2024 at 01:46 PM
In a detailed response to President William Ruto's claims that the Ford Foundation is financing chaos in Kenya, the foundation has firmly denied any involvement in the recent prote...
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