Sidian Bank Expands Presence with the Opening of its 46th Branch in Kiambu County
Sidian Bank an SME-focused Bank in Kenya, has announced the opening of its 46th branch in Thindigua, Kiambu County. This move is part of the bank’s ongoing efforts to expand its presence across the country and support the growing local economy. The latest branch opens its doors at K-Mall near Thindigua estate and will provide […]
What The E-Invoice System Holds For Your Small Business
The Kenya Revenue Authority (KRA) is intensifying efforts to bring small businesses into electronic payments (e-invoicing) with the launch of a new scheme. This initiative comes after failing to meet their initial targets, with only a handful of expected businesses adopting the Tax Invoice Management System (TIMS) introduced in 2022. The initial implementation of TIMS […]
CITI BANK LAYS OFF STAFF ACROSS AFRICA
Citibank has finalized its layoffs across the world, citing the need to streamline its operations and reduce costs. The move has sent shockwaves through the banking industry, as Citibank is one of the largest banks in the world. The new, flatter structure elevates the leaders of Citi’s five businesses and eliminates management layers, which will […]
NCBA Tops in Interest Income Earned in FY’2023 Financial Results
NCBA Bank Kenya emerged top in interest income for the 2023 financial year with a whopping increase of 24.5% to Kshs 65.22 billion. This growth can be attributed to the expansion of the bank’s equity lending portfolio. Its loan portfolio achieved impressive growth, with consumer loans reaching Kshs 337.02 billion, an impressive growth of 20.83% […]
Equity Bank Sets the Bar High with a 15.1 Billion Record Dividend for Shareholders
Equity Group Holdings Ltd (EGHL) has bolstered its reputation by issuing a staggering Kshs 15.1 billion (approximately USD 138 million) in equity rewards to shareholders in FY 2023. The impressive figures mark the second consecutive year of record dividends for the financial services giant. The large dividend paid is a direct reflection of the equity […]
Tony Elumelu Foundation Announces 10th Cohort of Entrepreneurship Programme – 20,000 Entrepreneurs Funded Across Africa
Nairobi, Kenya – March 25 2024 – The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs from all 54 African countries, has announced the successful entrepreneurs in its tenth selection for the TEF Entrepreneurship Programme. 37 Kenyans among the 1,104 African entrepreneurs are set to receive non-refundable USD 5,000 seed capital as […]
I&M Bank’s Net Profit Climbs 12.7%, Shareholders to Enjoy Sh2.55Dividend
I&M Bank Limited net profit after tax increased by 12.7% to Ksh 13.35 billion in FY’2023, according to the financial results released by the bank on Monday the 25th. This comes as welcome news for shareholders, who will be rewarded with a healthy dividend payout of Sh2.55 per share, translating to a compelling dividend yield […]
Lillian Ngala’s Success Story in Kenya’s HR
Lillian Ngala has been recognized in the SeamlessHR Super 100 list of outstanding HR leaders. With over 15 years of experience, she has made remarkable contributions to policy formulation, talent management, workforce planning, coaching, mentoring, and culture management in Kenya. Lilian currently serves as the Director of Human Resources at Diamond Trust Bank. She also […]
How KCB Group Thrived in FY’2023 amid Rising Non-Performing Loans
KCB Group PLC has unveiled its financial results for the fiscal year 2023 (FY’2023), disclosing a net profit of Ksh37.46 billion. This marks an 8.3% decrease from the preceding year, unveiling a mixed performance encompassing strong growth in certain sectors counterbalanced by declining profitability and escalating non-performing loans. KCB Group witnessed significant growth in both […]
Major Shake-Up in Kenyan Banking Sector: KCB to Sell National Bank
KCB Group is preparing to sell its subsidiary, National Bank of Kenya (NBK), in a deal facilitated by the National Treasury and the Central Bank of Kenya. This comes less than five years after KCB acquired NBK in a 2019 rescue operation orchestrated by the National Treasury and Central Bank of Kenya. The planned sale, […]