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1 week ago | 
zawya.com | James Anyanzwa |Julius Barigaba
Kenya’s energy regulator is managing consumer expectations after a review of fuel costs as a result of the renewed deal with State-owned Gulf companies, noting that the cost reduction was purely driven by market forces.
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2 weeks ago | 
zawya.com | James Anyanzwa
Savers in two collapsed Ugandan lenders were paid only 16.54 percent of their total claims by June 30, 2024, largely because of inaccurate information, hidden details and non-responsiveness to regulatory guidance, new disclosures show.
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2 weeks ago | 
zawya.com | James Anyanzwa
East Africa recorded subdued venture capital (VC) activity in 2024, weighed down by a volatile sociopolitical climate and increased business taxes in Kenya. Latest data by the African Private Equity and Venture Capital Association Ltd (AVCA) shows that the region recorded 112 VC deals valued at $472 million, from 114 deals valued at $480 million in 2023.
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2 weeks ago | 
zawya.com | James Anyanzwa
South Africa’s financial services conglomerate Old Mutual Plc posted a combined loss of R724 million ($39.23 million) from the sale of its businesses in Tanzania and Nigeria last year, as it restructured its operations outside South Africa to strengthen its growth plan on the continent.
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2 weeks ago | 
zawya.com | James Anyanzwa
The Democratic Republic of Congo (DRC), Rwanda and Tanzanian markets offered a profitable ground for Kenya’s retail banks cashing in on regional operations to bolster their incomes amid surging bad loans at home.
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3 weeks ago | 
zawya.com | James Anyanzwa
Tanzania is the largest source of foreign direct investment (FDI) to Kenya among member states of the East African community (EAC). Investors from Dodoma have pumped in a total of $72.45 million in Nairobi in the last six years highlighting the growing appeal of the Kenyan economy to regional and foreign investors despite continuous trade dispute with Tanzania over non-tariff barriers (NTBs).
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3 weeks ago | 
zawya.com | James Anyanzwa
Africa’s digital payments economy is expected to reach $1.5 trillion by 2030, driven by rapid internet penetration and financial inclusion, according to a new report. The report by Genesis Analytics, commissioned by card payments firm Mastercard, shows that the continent’s digital transformation is being underpinned by rapid progress in internet penetration and financial inclusion, two of the fastest-growing enablers of digital payments across the continent.
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3 weeks ago | 
businessdailyafrica.com | James Anyanzwa
State-owned Postal Corporation of Kenya (PCK) has revealed plans to lay off at least 600 employees as part of a radical shake-up of the business, which has been hurt by new technology. The corporation, popular as Posta, is also seeking a strategic partner for its courier and financial services division, suggesting that it is exploring a potential spin-off or sale of shares in the two units.
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4 weeks ago | 
businessdailyafrica.com | James Anyanzwa
TransCentury Plc’s major shareholder, Kuramo, has expressed interest in writing off part of its $10.5 million (Sh1.35 billion) loan to the regional infrastructure investment company as part of a strategy to jumpstart the struggling company. The Nairobi Securities Exchange (NSE)-listed firm disclosed that Kuramo, which owns 74.06 percent shareholding in the company has expressed interest in ‘forgiving’ TransCentury of this debt.
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1 month ago | 
zawya.com | James Anyanzwa
Banking investors in East Africa are still subjected to a varying licensing fee regime, with greater implications on the cost of banking services despite efforts by regional monetary authorities to harmonise banking laws and regulations, to bolster the implementation of the single currency regime, the third pillar of regional integration after the common market and the customs union.
