JP Morgan Chase, one of the largest global financial institutions, has announced the appointment of Sailepu Montet as the Country Manager for Kenya. Montet brings a wealth of experience to the role, having served in senior positions at the Central Bank of Kenya (CBK) for over two decades. His appointment signifies JP Morgan’s strategic focus…
NAIROBI, Kenya – East Africa Growth (EAG), a prominent private equity firm, has announced its decision to acquire an additional 5% stake in I&M Bank, one of Kenya’s leading financial institutions. This move signals EAG’s commitment to strengthening its presence in the East African banking sector and underscores the growth potential of the region’s financial…
Superior Homes, a well-established real estate firm in Kenya, has announced a massive new development project in Ruiru, located on the outskirts of Nairobi. The project is estimated to cost Ksh 30 billion, positioning it as one of the largest developments in the region. This new venture is set to transform the housing landscape in…
Kenya’s move to accrual-based accounting is a significant step toward improving financial transparency and governance. This shift represents a modern approach to public financial management, where transactions are recorded when they occur rather than when cash is exchanged. The move offers Kenya several benefits, including better financial reporting and enhanced decision-making processes. However, as with…
Kenya’s internet landscape continues to evolve rapidly, and the latest player making waves is Starlink. A subsidiary of SpaceX, Starlink is known for offering satellite-based internet to regions with unreliable connectivity. Now, with its new mini kit, Starlink is making a bold move by lowering the cost of entry for consumers in Kenya. The newly…
Bayer’s Transformation in East Africa Bayer has completed a major shift in its East African operations, transitioning its Pharmaceuticals and Consumer Health business models. This strategic move, effective May 1, 2024, involves outsourcing critical functions like transportation, warehousing, distribution, and customer support to Imperial Distributors. This allows Bayer’s Kenyan entities to focus on corporate affairs,…
The Central Bank of Kenya (CBK) plans to raise KSh50 billion in August through a tap sale of reopened infrastructure bonds. These bonds, initially issued in 2023, are 6.5-year and 17-year terms with remaining maturities of 5.8 years and 15.7 years, respectively. They offer tax-free returns, with coupon rates of 17.93% for the 6.5-year bond…
The Central Bank of Kenya (CBK) plans to increase the minimum capital requirement for banks from KSh 1 billion to KSh 10 billion. This aims to strengthen the resilience of the banking sector and encourage mergers and acquisitions. Banks will have three years to meet the new requirement. The change is intended to fortify the…
