Author: Muindi

Stanbic Bank Kenya has launched its Asset Management business with two investment products: the Stanbic Money Market Fund (KES) and the Stanbic Fixed Income Fund (USD). These funds offer Kenyans accessible, low-risk investment opportunities with the potential for attractive returns. Key Features of the New Funds Stanbic Money Market Fund (KES) Denominated in Kenyan Shillings. Offers an annualized yield of 15.12%. Minimum investment of KES 1,000. Ideal for investors seeking stable returns and high liquidity. Stanbic Fixed Income Fund (USD) Denominated in US Dollars. Provides an annualized yield of 5.56%. Minimum investment of USD 100. Suitable for investors looking to…

The Kenyan government has introduced two new digital platforms aimed at streamlining the management of presidential directives and foreign travel approvals for senior government officials. The Presidential Directives Management Information System (PDMIS) and the Foreign Travel Management Information System (FOTIMS) are designed to enhance efficiency, transparency, and accountability within the government.  Key Features and Benefits PDMIS Manages and tracks presidential directives. Eliminates the need for hard copies of directives. Accessible only to cabinet secretaries and principal secretaries. FOTIMS Streamlines the process of approving foreign travel for senior government officials. Ensures justified travel and prudent use of resources. The Kenyan government…

Britam Holdings announced a 22.6% increase in net profit for the first half of 2024, driven primarily by growth in investment income. Its net profit rose to KSh2 billion in the six months to June, up from Sh1.64 billion during a similar period last year. Net Investment Income surged by 150.0% to KSh 13.3 billion. Insurance revenue increased by 7.4% to KSh 17.8 billion. Insurance expenses increased by 14.6% to KSh 13.6 billion. Total assets grew by 12.7% to KSh 188.8 billion. Total liabilities increased by 12.8% to KSh 162.5 billion. Total Equity increased by 13.0% to KSh 26.3 billion.…

Kenya’s inflation rose marginally to 4.4 per cent in August from 4.3 per cent in July according to the statistics office on Friday. The Kenya National Bureau of Statistics (KNBS) data showed that on a month-on-month basis, inflation was flat at 0.0% from -0.2% in July. The rise was attributed to an increase in prices of commodities in the following categories; Food & Non-Alcoholic Beverages, Housing, Water, Electricity, Gas & other fuels, and Transport by 5.3%, 4.2%, and 3.9% respectively. During the period, costs for public transport increased by 25% from Mombasa to Kisumu. Food and Non-Alcoholic Beverages: Prices rose…

Old Mutual Holdings PLC has successfully turned around its financial performance, reporting a net profit of KSh 249 million for the first half of 2024. This marks a significant improvement compared to the net loss of KSh 348 million recorded in the same period last year. The conversion of shareholder loans into equity led to a substantial decrease in finance costs. A reduction in the effective tax rate from 150% to 70% positively impacted profitability. Despite the overall profit, operating profits fell by 27% due to increased claims and reinsurance expenses. However, shareholders will not receive an interim dividend this…

Don Julio 1942, a renowned premium tequila, has become a popular choice among Kenyan film enthusiasts. The brand’s commitment to supporting the Kenyan film industry was evident at the 13th Kalasha International Film and TV Awards, where it partnered with the after-party, “A Night with The Stars.” “We are proud of our commitment to supporting the film industry in Kenya. We look forward to forging further partnerships with industry stakeholders to contribute to its continued growth and development,” said Victoria Mbugua, Brand Manager for Don Julio. The Kalasha Awards is a prestigious event celebrating excellence in the Kenyan film industry. This…