Mauritian-based MCB Group with a market capitalisation of $2 billion and assets over $12 billion has opened a representative office in Nairobi to gauge opportunities in the Kenyan market and build strategic relationships. Mr. Alain Law Min, CEO MCB said they want to position the MCB Group as a strong and competitive regional financial hub, leveraging Mauritius as an international financial centre of repute and substance. “We are keen on enriching the appeal and adaptability of our value proposition across markets and segments, whilst upholding organization-wide synergies and collaborative partnerships. We believe we can create and develop fruitful partnerships with…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
We are sure all of you Social Media revellers came across the #10yearchallenge this past week where friends and colleagues posted photos of then and now, showing some amazing transformations and progress that 10 years can make. We are able to draw such parallels with shopping in Kenya over the past 10 years, where online shopping has flourished and is the new trend. You are able to get that much needed retail therapy all from the comfort of your own home! That said, it is important that you or your family and friends, stay safe when purchasing items online. We…
The Central Bank of Kenya on Monday held its benchmark lending rate at 9.0% as per analysts expectations. The Monetary Policy Committee said inflation was anchored within the target range. “The MPC concluded that the current policy stance remains appropriate, and will continue to monitor any perverse response to its previous decisions.” However, “Global growth is expected to weaken in 2019, with increased uncertainties with regard to the trade tensions between the U.S. and China, Brexit negotiations, slowdown of the Chinese economy, the partial shutdown of the U.S. government, and the pace of normalization of monetary policy in the advanced economies.…
Analysts and economists expect the Monetary Policy Committee (MPC) to leave the benchmark lending rate unchanged at 9.00% largely on stable macro-economic fundamentals. when it meets Monday. Genghis Analysts and Cytonn Investments are of the view that the committee will adopt a wait and see stance given the macroeconomic environment is relatively stable. “We expect the MPC to maintain the CBR at 9.0% in the January meeting due to the potential of perverse outcomes on growth ensuing from a policy change, the current stable macroeconomic environment and increasing uncertainty in the global economy,” Genghis Capital. However, “The key concern, however,…
The Court of Appeal has given Stanbic Bank an okay to sale some assets belonging to Naivasha-based Karuturi flower farm together with those of its guarantors Surya Holding Limited and Rhea Holdings Limited to recover its debt. This is after the court dismissed an appeal against an earlier court ruling that allowed the sale with suits on Friday. By way of this appeal, the Shareholders of Karuturi, which is in liquidation, had sought to prevent the sale of the company’s assets, and those of its guarantors, to repay debts owed to its secured creditors. In December 2010, Karuturi Limited had…
2019 Global Game Jam, the largest game creation event will be taking place this weekend in various locations around the world. In Africa, leading pan-African telecoms group Liquid Telecom will support African gaming developers, programmers, and designers in Kenya, Rwanda, Uganda and Zambia. Participants will be provided with venues and high-speed connectivity as they spend 48 hours developing video games as part of the worldwide competition. Global Game Jam is the world’s largest game jam event taking place at various locations around the world this weekend. Entrants have 48 hours to design, develop and test a new game, which must…