Kalu Mengo

4 weeks ago | businesstoday.co.ke | Kalu Mengo

Equity Group has achieved strong results and growth of its business across the region, with the Kenyan subsidiary contributing the bulk of the earnings. The group had a 7% year-on-year surge in customer deposits to Ksh1.32 trillion from Ksh1.24 trillion, fuelling a strategic expansion of net loans by 3% to Ksh804.7 billion from Ksh 779.2 billion. With assets growing by 4% to Ksh1.75 trillion, Equity Group reported a Profit After Tax (PAT) of Ksh15.4 billion.

4 weeks ago | businesstoday.co.ke | Kalu Mengo

KCB Group has completed the sale of National Bank of Kenya Limited (NBK) to Access Bank of Nigeria, marking the conclusion of a transaction that began in March 2024, following receipt of all regulatory approvals for a transaction. As a result, NBK, which was fully owned by KCB Group, is now a wholly owned subsidiary of Access Bank Plc. NBK and Access Bank Kenya will continue to operate independently, pending the completion of all integration processes.

1 month ago | businesstoday.co.ke | Kalu Mengo

The International Air Transport Association (IATA) has released the Value of Air Transport study for Kenya, quantifying the substantial benefits that aviation (including aviation-related tourism) generates in terms of jobs and economic activity. Highlights from 2023 data show that aviation supports and facilitates $3.3 billion of economic activity (total impact including wider supply chain, employee spending, and tourism activities), equal to 3.1% of Gross Domestic Product (GDP).

1 month ago | businesstoday.co.ke | Kalu Mengo

Kenya’s wealthy are adjusting their investment strategies in response to rising global economic uncertainty, shifting away from residential and foreign assets in favour of more liquid, higher-yielding opportunities within the country. This is according to the global property consultant Knight Frank’s Wealth Report: Kenya Edition – Attitudes Survey 2025, which highlights the first choice investment of Kenya’s wealth elites.

1 month ago | businesstoday.co.ke | Kalu Mengo

Safaricom PLC (NSE: SCOM) has announced an 11.2% growth in total revenue to Ksh388.7 billion ($3 billion) for the financial year ended 31st March 2025, with net income accelerating by 10.8% to hit Ksh69.8 billion. Following these results, Safaricom will pay out Ksh48.08 billion in dividend to its shareholders for the year, adding a final dividend of 65 cents per ordinary share to the interim dividend of 55 cents per ordinary share already paid out on or about March 2025.