Kenswitch’s interoperable network provides over 2,200 ATMs, 20,000 plus Agency Banking outlets and over 15,000 merchant POS outlets.
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
I&M Group PLC reported a rise of 44 percent in its consolidated profit after tax at Ksh 2.7 billion compared in the quarter ended March 2022 compared to Ksh 1.9 billion in the same period in 2021. The Group’s balance sheet and income metrics improved on the backdrop of a solid capital base and strong liquidity. The Group’s balance sheet grew steadily with total assets growing by 18%. The loan portfolio grew by 13% to Kes. 218.4 billion as at 31st March 2022 and Government securities were up by 21%. The net non-performing loans decreased by 31% year on year…
The Central Bank of Kenya has floated an 18-year Infrastructure bond worth KSh 75 billion to fund infrastructure projects in the 2021/22 fiscal year budget estimates. According to the CBK prospectus, the coupon rate for the bond will be market-determined. The sale period is from 23rd May 2022 to 7th June 2022. The value and payment date is 13th June 2022, with investors required to place bids at a minimum of KSh 100,000.00. The bond will be fully redeemed on 21st May 2040, with the first interest payment scheduled for 12th December 2023. CBK requires bidders to submit their bids…
Somalia President Hassan Sheikh Mohamud was inaugurated for a four-year term during a ceremony on Monday at the Presidential Palace. https://twitter.com/HassanSMohamud/status/1528704853685542912?s=20&t=-XjqbZB-jhTWbyD5r1mKfQ The 67-year-old Mohamud, former Somalian president from 2012 to 2017, received 214 votes, defeating Mr Mohamed Abudallahi Farmajo who won 110 votes out of 328 MPs who cast their votes. https://twitter.com/M_Farmaajo/status/1528730772852580354?s=20&t=-XjqbZB-jhTWbyD5r1mKfQ Khusoko is now on Telegram. Click here to join our channel and stay updated with the latest East African business news and updates.
Housing Finance, a mortgage finance provider, plans to sell the Rehani House building, its headquarters in Nairobi by the end of 2022. Rehani House, a 13-storey high-rise building located at the junction of Kenyatta Avenue and Koinange Street in Nairobi, has been HF’s headquarters for years. “The sale of Rehani House building by December 2022 will ensure compliance with investment in buildings to core capital and would also result in a one-off gain,” says HF in the annual report. In its Q1’2022 Financial Results, HF Group had total loan obligations worth Kshs 5.0 billion. Moreover, HF Group aims at restructuring…
The US remains the largest source of remittances into
Kenya, accounting for 62 percent in April 2022.