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Blog Posts

Vodacom busy 35% of Safaricom in equity deal

Posted by CFO Kenya on May 18, 2017 at 8:00 0 Comments

Vodafone Group is selling its $2.6 billion stake in Kenya’s Safaricom to its majority-owned Vodacom Group. The all-share deal will transfer a 35-percent stake in Safaricom to Vodacom in return for stock in the Johannesburg-based unit. This will raise the parent company’s stake in…

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Kenya hailed as excellent investment destination

Posted by CFO Kenya on May 11, 2017 at 8:00 0 Comments

EY, in its Africa Attractiveness Index 2017 (AAI 2017), has named Kenya as this year’s second-most attractive investment destination, pipped only by Morocco.

On the AAI 2017, Kenya scored high in the long-term outlook in governance and human development (16 out of 20),…

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Four shortlisted to take over Chase Bank

Posted by CFO Kenya on May 4, 2017 at 8:00 0 Comments

The Central Bank of Kenya (CBK) has shortlisted four possible suitors to take over a controlling stake in Chase Bank. The CBK plans to sell Chase Bank as part of a restructuring plan intended to speed up its recovery.

According to CBK, a total of 12 replies…

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Chines imports threaten Kenya’s export market

Posted by CFO Kenya on April 27, 2017 at 8:00 0 Comments

The World Bank says that Kenya’s trade performance is fast declining because of an influx of goods from China into Uganda and Tanzania – both major export destinations for the country. Data shows that exports contracted by an estimated…

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Founded by CFO Africa

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

Latest Activity

CFO Kenya posted blog posts
May 18
CFO Kenya posted a blog post

Four shortlisted to take over Chase Bank

The Central Bank of Kenya (CBK) has shortlisted four possible suitors to take over a controlling stake in Chase Bank. The CBK plans to sell Chase Bank as part of a restructuring plan intended to speed up its recovery.According to CBK, a total of 12 replies to the Expression of Interest (EOI) were received, with the respondents…See More
May 4
CFO Kenya posted a blog post

Chines imports threaten Kenya’s export market

The World Bank says that Kenya’s trade performance is fast declining because of an influx of goods from China into Uganda and Tanzania – both major export destinations for the country. Data shows that exports contracted by an estimated 23.3 percent in 2016, despite growth in intra-regional business.The World Bank said it its latest…See More
Apr 27
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
Apr 21
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

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