NAIROBI, Kenya, Feb 17 - I&M Holdings has announced the successful completion of merger of Giro Commercial Bank Limited (GCBL) into I&M Bank Limited (IMBL), which is IMHL’s banking flagship subsidiary. Following this, GCBL branches will
NAIROBI, Kenya, Feb 16 - Kenya Bankers Association has unveiled a new inter-bank application that will enable the transfer of funds from one bank account to another in real-time. Dubbed ‘PesaLink’, the platform is expected to cut the cost of transactions
HONG KONG, China, Feb 15 - The dollar dipped on Thursday in Asia as investors brushed off another record Wall Street close and upbeat US data while the rally in stock markets stuttered. Another positive assessment of the US economy and reassurance over
NAIROBI, Kenya, Feb 15 - A South African company has acquired a majority stake in one of Kenya’s leading pharmaceutical and medical distributor. Imperial Holdings is set to pay Sh3.6 billion for 70 percent in Surgipharm pending regulatory approvals.
ZURICH, Switzerland, Feb 14 - Credit Suisse, Switzerland's second-biggest bank, said Tuesday it booked net loss of 2.4 billion Swiss francs (2.2 billion euros, $2.3 billion) in 2016, after agreeing to a massive settlement with the US authorities last
Nairobi, Kenya, Feb 10 - Sanlam Kenya has announced the withdrawal of an earlier posted profit warning notice ahead of its full-year results release following good growth prospects. Group Chief Executive Officer Mugo Kibati has attributed the revised
NAIROBI, Kenya, Feb 10 - Converting informal slums in Nairobi to formal structures would attract investors and increase building volumes by up to 148 percent according to a source quoted in a World Bank Report on African Cities. In Kibera, for example,
NAIROBI, Kenya, Feb 9 - The Government is projecting to collect Sh1.7 trillion shillings in revenue for the 2017/2018 financial year against a record budget of Sh2.62 Trillion. In a briefing to the Cabinet, Treasury CS Henry Rotich said donor commitments
FRANKFURT AM MAIN, Germany, Feb 9 - Europe's largest economy Germany reported a new record trade surplus in 2016, official data showed Thursday, exporting 253 billion euros more than it imported. Exports added 1.2 percent to top 1.2 trillion euros ($1.3
NAIROBI, Kenya, Feb 7 - Kenya Bankers Association (KBA) has announced the appointment of the management team that will spearhead technical and business operations of its fully-owned payments technology subsidiary, Integrated Payments Services Ltd. (IPSL).