Author: David Indeje

Absa Bank Kenya plans to double its sustainable finance allocation to KES120 billion, expanding investment in renewable energy, energy efficiency, and green building sectors within two years. This is part of the lender’s renewed commitment to sustainability. The bank’s Managing Director and CEO, Abdi Mohamed, revealed that about Ksh 60 billion has already been advanced in sustainable finance this year, which includes green and inclusive finance components. For instance, USD 10 million has been allocated for climate-smart agriculture. This initiative is part of a larger commitment to climate finance, with Ksh 25 billion set aside for this purpose. Additionally, Ksh…

British American Tobacco (BAT) Kenya Plc, has announced several changes to its board of directors and company secretary. Phyllis Wakiaga and Paul Muthaura have been appointed as independent, non-executive directors. Wakiaga, an Advocate of the High Court of Kenya, has over 18 years of experience, including nine years as the CEO and Secretary to the Board at the Kenya Association of Manufacturers (KAM). She also holds non-executive director positions at several organizations. Muthaura, also an Advocate of the High Court of Kenya, is currently the CEO of the Africa Carbon Markets Initiative. He has previously held CEO positions at ICEA…

Shanta Gold Ltd. has reported steady production in its latest quarter as its new mine in Tanzania, Singida, exceeded production expectations. The total production in the three months to the end of September 2023 was 27,935 ounces, with New Luika output at 18,271 oz and Singida at 9,664 oz, or 15% above forecasts. “Our performance over the third quarter demonstrates the stable and reliable production volumes we have worked hard to achieve, with group gold production across our two operating mines of 27,935 ounces in line with expectations and materially increasing our confidence in meeting our stated guidance of up…

Equity Group has been recognized for its outstanding achievements in expanding access to finance for small and medium-sized enterprises (SMEs) at the Global SME Finance Awards 2023. The awards are organized by the International Finance Corporation (IFC) and the SME Finance Forum and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI). Equity received two Platinum Awards for “SME Financier of the Year—Africa” and “Product Innovation of the Year” for its “Pay With Equity” solution, which enables customers to pay for goods and services using their Equity accounts. Equity also received an honourable mention in the “Women Financier of…

Family Bank has received approval from shareholders to offer up to 800 million new shares through a rights issue, increasing the Bank’s issued authorized Ordinary shares from 1.5 billion to 2.3 billion. The Bank aims to raise up to KES 10 billion in the medium term through this increase in Ordinary shares, achieved via a mix of a rights issue and private placement. The funds raised will be used to strengthen Family Bank’s capital base, support local and regional growth plans, drive investments in IT infrastructure and new product initiatives, and support onward lending activities. The rights issue will open…

Kenya Breweries Limited’s spirit brand, Kenya Cane, hosted the Greats’ Fest cultural extravaganza in Narok town over the weekend.  The event featured a blend of food, locally inspired cocktails, and live music performances by local artists.  Highlights included performances by King Laiso, Ayrosh, Simply Yaba, DJ Lyta, DJ Signal and MC Patrick Lelion.  The event also recognized Paul Ole Sopia and Joel Koirag, who were selected from the brand’s “Greats search” activation for their contributions towards their greatness.  The cultural extravaganzas, which began at The National Museum in 2022, have been hosted in various locations across Kenya – Nakuru, Thika,…