Kabui Mwangi

1 week ago | businessdailyafrica.com | Kabui Mwangi |Peter Mburu

An administrator appointed by Equity Bank on Thursday took control of East African Cables but its parent firm TransCentury managed to block seizure by the bank, which was enforcing its claim of Sh4.74 billion that the two firms have defaulted on. Equity failed in its bid to take over control of a property associated with investment firm TransCentury in Nairobi’s Lavington neighbourhood, after the lender’s appointed receivers were locked out of the premises by the entrance guard.

1 month ago | businessdailyafrica.com | Dominic Omondi |Kabui Mwangi

The Kenyan economy grew by a slower pace of 4.7 percent in 2024, compared to 5.7 percent a year earlier, weighed down by a subdued performance in the agricultural sector and tight credit. The Kenya National Bureau of Statistics (KNBS) released the Economic Survey 2025 on Tuesday, detailing how various sectors and jobs market performed.

1 month ago | businessdailyafrica.com | Kabui Mwangi |Dominic Omondi

Kenya’s military spending rose to Sh166.08 billion in 2024, newly released global data shows, marking the sharpest increase rate in eight years as the country sought to modernise its defence system amid heightened security threats.

2 months ago | businessdailyafrica.com | Kabui Mwangi |Victor Juma

The chief executive of Absa Bank Kenya Abdi Mohamed received a 39.7 percent pay rise in the year ended December 2024, taking his total compensation to Sh109.7 million. This was up from Sh78.5 million a year earlier, with the board rewarding Mr Abdi for a performance that resulted in net income and dividends growing by double digits.