Author: Muindi

Round two of the 2023/24 Football Kenya Federation Premier League (FKFPL) season kicked off on Friday, September 1st, with eight matches scheduled through Saturday. KCB and Kakamega Homeboyz, whose round one match was postponed, will make their season debuts in this round. KCB will play at home against AFC Leopards on Friday, while Homeboyz will play away against Murang’a Seal on Saturday. League leaders Nzoia Sugar will travel to play Muhoroni Youth on Friday, while Ulinzi Stars will seek to bounce back from their opening-round loss when they host defending champions Gor Mahia on Saturday. On Friday, Police FC will…

Airtel Money, a mobile money service provider, has announced that it has revised its per-transaction limit from KES 150,000 to KES 250,000. This change comes after successful engagements with the Central Bank of Kenya (CBK) and follows the recent review of daily transaction limits from KES 300,000 to KES 500,000. According to a statement from Airtel, the transaction charges for this new band will remain similar to those previously charged for transactions between KES 70,001 and KES 150,000. Airtel Money customers will now be able to make larger transactions without having to break them down into multiple smaller transactions. Anne…

Jubilee Holdings Limited has announced the payment of an interim dividend of Ksh. 2 per share, totalling Ksh. 145 million for the half-year ended June 2023. Announcing its half-year financial results under the IFRS 17 new reporting standards, Jubilee Holdings reported a half-year Profit Before Tax (PBT) of Ksh. 2.4 billion. Following the adoption of the new IFRS 17 and excluding the sale of General Insurance business to Allianz, the Group’s net earnings went down to Ksh.2.04 billion in the first six months of 2023. The new International Financial Reporting Standard (IFRS17) that came into effect in January replacing IFRS…

The Football Kenya Federation Premier League (FKFPL) has signed a five-year broadcasting deal with East African direct broadcast satellite Azam TV worth up to Ksh 148 million a year. The deal will see Azam TV broadcasting select FKFPL matches on Azam Channel Four, which will exclusively air FKFPL matches. Last season, the company broadcasted two FKFPL matches, including the game between Kariobangi Sharks and Tusker and the Mashemeji Derby, both of which took place at the Nyayo National Stadium in early May. Kenya Broadcasting Co-operation KBC will also get to air some free-to-air matches. The broadcast deal, worth one million…

Dubai-based Vartox Resources Inc has withdrawn from a case where it had accused KCB Group and Mumias receiver manager of being part of a syndicate where assets of distressed companies are sold at a gross undervalue. Previously, Vartox Resources Inc. joined a case seeking the removal of Ponangipali Ramana Rao as the administrator of Mumias Sugar Company. Vartox Resources alleged that this was an obvious case of fraud and corruption. The filed application reads, “Take notice that Vartox Resources Inc., the 3rd Respondent in these proceedings hereby wholly withdraws its application dated 25 December 2022.” The company claimed that this…

The Nairobi Securities Exchange (NSE) has reported a 4.5% increase in total income, which rose from 361.1 million shillings in H1 2022 to 377.3 million shillings in H1 2023. According to the Nairobi bourse’s unaudited financial results for the first half of 2023, this was mainly driven by higher trading activity and increased listing fees. The NSE also managed to keep its total expenses under control, as they only increased by 4.4% from 275.1 million shillings in H1 2022 to 287.1 million shillings in H1 2023. The main cost drivers were staff costs, depreciation and amortization, and professional fees. The…