Cytonn Investments has said consolidation and revenue diversification will become important for Kenya’s banking sector going forward. The independent investments management firm said the continued diversification of the sector has witnessed a consistent relatively strong profitability growth, which has alleviated the effects of relatively slow funded income growth. Further, consolidation has resulted in the successful remediation of collapsed banks and left fewer but well-capitalized players to be able to catalyse economic growth. Cytonn Investments made the comments when it released ‘Kenya Listed Banks H1’2019 Report’ with listed banks recording a 9.0% average increase in core Earnings per Share (EPS), compared…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
(KQ) and Oman Air have expanded their existing codeshare agreement connecting passengers through various gateways. In the agreement, KQ will allow Oman Air passengers to fly to specific African destinations beyond Nairobi to Entebbe and Johannesburg. “Similarly, Kenya Airways guests can now extend their travel beyond Muscat (Oman) to Karachi (Pakistan) and Lahore (Pakistan),” said KQ in a statement. Kenya Airways Chief Commercial Officer Ursula Silling said, “Through this partnership, Kenya Airways extends its services to tourists as well as to those who are visiting friends and families, in Oman – through the cultural links that Oman shares with the…
Africa Practice East Africa Limited, a strategic advisory firm based in Nairobi has recognised as a Global Reporting Initiative (GRI) certified trainer in Kenya. GRI set standards that help businesses and governments worldwide address in a data-driven and verifiable way, the management of their socio-economic and environmental impact. “Africa Practice has taken this step to better guide our clients to create opportunities for positive impact and mitigate issues and manage their risks proactively. We support a variety of clients, each with a vast stakeholder universe, and who need guidance on how to mitigate above-ground risks through constructive stakeholder engagements and…
The Kenya Airports Authority board has appointed its general manager for finance Alex Gitari, as the acting managing director. He replaces Jonny Anderen who opted not to renew his contract. In a statement on Monday, board chairman Isaac Awuondo said Andersen had proceeded on leave, with his contract set to end on November 21. “I take this opportunity to thank Jonny for his contribution during his tenure as CEO,” Awuondo said. Andersen had worked for KAA since 2016. The recruitment process for a new MD begins on Tuesday.
The National Safety and Transport Authority has blacklisted Swvl and Little shuttle for engaging in commuter service business within Nairobi contrary to its licence. Director General Francis Meja said the two hailing app companies are not registered with the National Transport and Safety as required by Section 26 of the Transport and Safety Act No. 33 of 2012. “The authority has noted that Little Shuttle and Swvl operate vehicles contrary to the provisions of the PSV regulations. The vehicles under these hailing app companies have acquired a Tours Service Licence (TSL) but are engaging in commuter service within Nairobi, therefore,…
Irish brewer Guinness is betting on a new lager dubbed ‘Guinness Hop House 13’ to capture the Kenyan Market. Hop House 13 is lager that it is under the Guinness brand and is available across Europe, with Kenya being the first market in Africa to launch it. With 5 percent alcohol by volume, Hop House 13 has both depth of flavour and crisp lager refreshment making it perfect for casual social occasions. It combines tradition and novelty, by balancing the care and experience 250 years of Guinness brewing provides, with a new, contemporary style of premium international quality lager. Kenya Breweries…