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Kenyan economy grew 5.8 percent last year

Posted by CFO Kenya on April 20, 2017 at 8:00 0 Comments

According to the Kenya National Bureau of Statistics, Kenya’s economy grew 5.8 percent during 2016, slightly short of forecasts (government officials estimated the economy to have expanded by 5.9 percent), but a little above the 5.7 percent growth it saw during 2015. Moreover, the…

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M-Pesa pioneer Michael Joseph joins MFS Africa

Posted by CFO Kenya on April 13, 2017 at 8:00 0 Comments

Pan-African FinTech firm MFS Africa has announced that Michael Joseph has joined its board as an independent non-executive director. Joseph served as CEO of Safaricom in Kenya from 2000 to 2010, and is widely credited with spearheading M-Pesa, the world’s most…

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Total sees profits up 37%

Posted by CFO Kenya on April 6, 2017 at 8:00 0 Comments

Total Kenya has seen net profit growth of 37.6% for the year ending 31 December. The Nairobi Stock Exchange-listed company reported a net profit of Sh2.23 billion; this compared to Sh1.62 billion the previous year.

Anne-Solange Renouard, Total Kenya’s MD,…

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EIB loans Equity and HFC Sh10 billion for SME development

Posted by CFO Kenya on March 30, 2017 at 8:00 0 Comments

The European Investment Bank (EIB) has granted a Sh10.45 billion (€95 million) loan to two banks – Equity Group Holdings and HFC Ltd – for the financing of small and medium-sized enterprises…

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CFO Kenya is founded by CFO Africa, a pan African network for senior finance professionals. CFO Africa connects professionals online and live in order to share knowledge, exchange interests and open up business opportunities. CFO Africa operates in Kenya, Nigeria and South Africa and is looking for partners to launch activities in other African countries. www.cfoafrica.net

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CFO Kenya posted a blog post

Kenyan economy grew 5.8 percent last year

According to the Kenya National Bureau of Statistics, Kenya’s economy grew 5.8 percent during 2016, slightly short of forecasts (government officials estimated the economy to have expanded by 5.9 percent), but a little above the 5.7 percent growth it saw during 2015. Moreover, the current account deficit narrowed 11.9 percent in…See More
Friday
CFO Kenya posted a blog post

M-Pesa pioneer Michael Joseph joins MFS Africa

Pan-African FinTech firm MFS Africa has announced that Michael Joseph has joined its board as an independent non-executive director. Joseph served as CEO of Safaricom in Kenya from 2000 to 2010, and is widely credited with spearheading M-Pesa, the world’s most successful mobile money service.Joseph said:“There are over a…See More
Apr 14
CFO Kenya posted a blog post

Total sees profits up 37%

Total Kenya has seen net profit growth of 37.6% for the year ending 31 December. The Nairobi Stock Exchange-listed company reported a net profit of Sh2.23 billion; this compared to Sh1.62 billion the previous year.Anne-Solange Renouard, Total Kenya’s MD, said in a statement:“The improved financial performance…See More
Apr 6
CFO Kenya posted a blog post

EIB loans Equity and HFC Sh10 billion for SME development

The European Investment Bank (EIB) has granted a Sh10.45 billion (€95 million) loan to two banks – Equity Group Holdings and HFC Ltd – for the financing of small and medium-sized enterprises (SMEs).The Equity loan has a value of Sh8.25 billion and the HFC loan a value of of Sh2.2 billion. Equity’s loan will be divided…See More
Mar 30
CFO Kenya posted a blog post

Sanlam grows East African footprint with new investment

Financial services group Sanlam has reached an agreement with asset manager PineBridge Investments, a leading global multi-asset class asset manager, which has operations in Kenya and Uganda, to acquire PineBridge’s majority stake in PineBridge Investments East Africa Limited in Kenya (PIEAL).Junior…See More
Mar 24
Grace Ogawo is now a member of CFO Kenya | Finance Professionals Kenya
Mar 16
CFO Kenya posted a blog post

Safaricom and mSurvey launch Consumer Wallet

Global mobile research platform mSurvey, a global mobile-first research platform, and Kenyan communications agency Safaricom have launched Consumer Wallet, a platform that quantifies offline consumer spending habits and trends.Currently in beta, Consumer Wallet is a live and data feed that leverages mSurvey’s…See More
Mar 16
CFO Kenya posted blog posts
Mar 9
CFO Kenya posted a blog post

New investment firm for Sub-Saharan Africa: Arise

Dutch development bank FMO and banking co-operative Rabobank, together with Norfund, a Norwegian development finance institution, have joined financial forces in launching a new investment firm, Arise. The new South Africa-based entity, which has combined assets of $637 million, will focus on Sub-Saharan Africa’s…See More
Feb 23
Zahlee George updated their profile
Feb 16
CFO Kenya posted a blog post

Joseph Mutugu Group CFO of UAP Old Mutual East Africa

Joseph Mutugu was appointed group chief financial officer of UAP Old Mutual East Africa in September last year. Prior to this he was CFO at Amu Power, a position he held for close on 18 months.Highly accomplished, Mutugu completed his studies at Strathmore University and the University of Nairobi. He then studied a Master of…See More
Feb 16
CFO Kenya posted a blog post

Kenya’s retail spending hits Sh1.8 trillion

A new survey by Procter & Gamble (P&G) has revealed that Kenya’s retail spending hit Sh1.8 trillion in 2016 as the sector expanded by 13%.The study shows that over half of Kenyan urbanites regularly shop in supermarkets these days, a trend driven by the fact that supermarkets stock branded products which are well known and…See More
Feb 9
CFO Kenya posted a blog post

Bounty Brands backs out of acquisision deal

Listed South African FMCG company Bounty Brands has halted its plans to acquire an unnamed Kenyan foods maker, citing the reason that local companies are overpriced. Instead, the Cape Town-based company intends to ship goods into Kenya via a distributor, opting rather to make European acquisitions.Stefan Rabe,…See More
Feb 2
CFO Kenya posted a blog post

Kisumu to host investment forum to boost economy

A five-day investment conference due to be held in Kisumu in February aims to unlock the Sh200 billion potential of the Lake region. SMEs from 12 counties have been invited to the event, the aim of which is to create farm-to-fork networks that will bolster the region’s economy.According to Laban Onditi, the Kenya National…See More
Jan 26
Profile IconNora Toma, Philip Kariuki Kabaiku, Phylis Njongoro and 7 more joined CFO Kenya | Finance Professionals Kenya
Jan 25
CFO Kenya posted a blog post

IMF cautions Tanzania about stunted fiscal growth

Tanzania’s economic policies stand to threaten the country’s growth forecast for fiscal year 2016/17 (July-June), warns the International Monetary Fund (IMF).Although President John Magufuli, when he was elected in 2016, promised economic reform the IMF says this progress has been slow. Moreover, a lack of public…See More
Jan 19

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