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BUSINESS

This section give a comprehensive coverage of business news in Kenya – ranging from companies, industry, economy, markets, agriculture and the NGO world.

Incentro Transforms African Businesses as Google Cloud Partner

At the height of the pandemic, Incentro Africa, working with the Africa Google Cloud Distributor Digicloud Africa, partnered with The Central Bank of West Africa States to roll out Google Workplace in seven days for the 1300 employees located across eight countries without interrupting service or productivity. It also worked with the Kilifi County Government and SBM Bank.

NCBA Proposes Ksh1.50 Dividend Even as Profit Falls 42%

The merged bank recorded profit after tax of Ksh4.57 billion for the year ended December 31, 2020 down from Ksh7.8 billion in 2019. Like all other tier-one lenders, the situation was down to the tough operating environment in 2020 due to the Covid-19 pandemic.

Kenyan Banking Start-Up Tanda Goes Regional After Securing Funding

The growth comes on the back of successfully pioneering and proving the viability of the interoperable agent and merchant model in Kenya, a model that has only been validated in West Africa before Tanda.

KRA Seizes Over 25,000 Fake Excise Stamps at Nairobi Water Plant

During the raid, KRA officers seized 49 cases of bottled water affixed with counterfeit excise stamps and rolls of counterfeit excise stamps.. The possession or use of fake excise stamps is illegal under the Excise Duty Act, 2015 and the Excise Duty (Excisable Goods Management System) Regulations, 2017.

P******c Pushes Equity Profits Down to Ksh19 Billion for 2020 FY

The situation was largely attributed to the pandemic - as evidenced by the massive increase in loan loss provisions from Ksh5.6 billion in 2019 to Ksh26.63 billion last year. The spike drove a significant increase in the firm's operating expenses from Ksh44 billion in 2019 to Ksh72.6 billion in 2020.

Loophole or Greed? Insurers Slap Kenyans With New Curfew Rules

The rules are bound to affect numerous livelihoods, but one thing most did not consider is the implications of the address on their insurance agreements particularly for those with vehicle insurance covers against accidents and other occurrences.

Securex Launches Home Security Solution and E-commerce Portal

Rafiki by Securex will offer a range of smart home products, that is, security kits, smart locks, and lighting solutions such as motion sensors and movable CCTV cameras which users can monitor on their mobile phones.

Sanlam Slips Into The Red With Ksh78M After-Tax Loss

With increased claims and lower investment returns, Sanlam closed the year on a Ksh78 million after-tax loss representing a drop from the prior-year after-tax profit of Ksh114 million. The situation was primarily attributed to the Covid-19 pandemic and its effects on local and international economies.

d.light Slashes Prices of Solar Home Systems

Easter Deals: Solar company d.light Kenya has announced price reductions for its products to cushion clients from adverse economic challenges brought by the Covid-19...

Alarm as Pay Gap Pushes Women Into Poverty During the P******c

“For the last 22 years, extreme poverty globally had been declining. Then came COVID-19, and with it, massive job losses, shrinking of economies and loss of livelihoods, particularly for women. Weakened social protection systems have left many of the poorest in society unprotected, with no safeguards to weather the storm,” says Ginette Azcona UN Women’s Senior Research and Data Specialist.