Victor Juma

1 month ago | businessdailyafrica.com | Victor Juma

Ratings agency Moody’s has upgraded its outlook for Kenyan banks, citing improved macro-economic conditions in the country including the stable shilling and falling interest rates. The agency says banks’ profitability will drop but remain strong this year, as the industry adjusts to lower lending margins, returns on government securities and higher provisions for bad loans. “We have revised our outlook on the banking system of Kenya (Caa1 positive) to stable from negative.

1 month ago | businessdailyafrica.com | Victor Juma

Carbacid Investments recorded a 10.3 percent drop in net profit to Sh434.9 million in the half year ended January as a stronger shilling eroded the value of its sales in the regional markets. The carbon dioxide manufacturer, whose product is used by producers of alcohol and soft drinks, had posted a net income of Sh485.1 million a year earlier.

2 months ago | businessdailyafrica.com | Victor Juma

The High Court has rejected a bid by Mauritian multinational SBM Holdings Limited, to stop a court case in which former shareholders of Fidelity Commercial Bank are seeking a compensation of Sh2.5 billion. This is the second such decision by the court after a similar application by the multinational’s subsidiary, SBM Bank Holdings, was thrown out on July 28, 2023.

2 months ago | nation.africa | Victor Juma

Longhorn Publishers narrowed its net loss by 28.3 per cent in the six months to December 2024 as the company cut costs aggressively in response to a plunge in sales. The firm’s net loss contracted to Sh148.6 million in the review period from Sh207.4 million a year earlier. Longhorn slashed its cost of sales to Sh165.8 million from Sh458.7 million as revenue fell by 46.9 per cent to Sh525.8 million from Sh278.8 million.

2 months ago | nation.africa | Victor Juma

BAT Kenya registered a 19.4 per cent decline in net profit to Sh4.4 billion in the year ended December 2024 when it suffered from higher operating costs and lower income from exports due to a stronger shilling. The company had posted a net profit of Sh5.5 billion a year earlier. BAT declared a final dividend of Sh45 per share, maintaining its total distribution to Sh50 per share including an interim payout made in September last year.