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Kenyans dominate list of Africa’s top 30 innovative entrepreneurs

Posted by CFO Kenya on July 21, 2016 at 8:00 0 Comments

In this year’s ranking by US-based digital media outlet, Quartz, Kenyans dominated the list of Africa’s top 30 innovative entrepreneurs, with seven featured individuals.



The seven Kenyans in the 2016 Quartz Africa Innovators list include Agosta…

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Safaricom and Craft Silicon launch Uber competitor

Posted by CFO Kenya on July 7, 2016 at 8:00 0 Comments

Safaricom, Kenya's biggest telecoms company, 40 percent owned by Britain's Vodafone, has joined forces with a local software firm, Craft Silicon, to launch a ride-hailing company that will take on Uber.



According to…

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Kenya financially strong enough to withstand Brexit fallout

Posted by CFO Kenya on June 30, 2016 at 8:00 0 Comments

According to Governor Patrick Njoroge (pictured), Kenya's central bank has enough forex reserves and funds available from an IMF standby facility to come through any fallout from the recent Brexit debacle.

Speaking at a news conference last week, the governor said: "We…

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Safaricom CFO John Tombleson recalled from Kenya

Posted by CFO Kenya on June 23, 2016 at 8:00 0 Comments

John Tombleson (pictured), Kenyan operator Safaricom's CFO, is due to exit the company after a five-year stint.



While reasons for Tombleson’s departure remain unclear – the company saying its human resources policies do not allow them to disclose the details of an…

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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

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CFO Kenya posted blog posts
Thursday
CFO Kenya posted a blog post

Safaricom and Craft Silicon launch Uber competitor

Safaricom, Kenya's biggest telecoms company, 40 percent owned by Britain's Vodafone, has joined forces with a local software firm, Craft Silicon, to launch a ride-hailing company that will take on Uber. According to Safaricom CEO Bob Collymore (pictured), Little Cabs, as the company will be known, will…See More
Jul 7
CFO Kenya posted a blog post

Kenya financially strong enough to withstand Brexit fallout

According to Governor Patrick Njoroge (pictured), Kenya's central bank has enough forex reserves and funds available from an IMF standby facility to come through any fallout from the recent Brexit debacle.Speaking at a news conference last week, the governor said: "We think we are in a comfortable position." Despite this,…See More
Jun 30
CFO Kenya posted blog posts
Jun 23
CFO Kenya posted a blog post

Kenya’s budget deficit increases

Kenya's budget deficit for the fiscal year 2016/17 looks to be more than 9% of gross domestic product (GDP).This according to a recent forecast by the country’s finance minister, Henry Rotich, who said in his budget speech that the deficit would be 691.5 billion shillings ($6.9 billion). Earlier this year…See More
Jun 16
CFO Kenya posted a blog post

South Korea to help Kenya establish science and technology institute

South Korea's President Park Geun-hye recently met with Kenya’s President Uhuru Kenyatta to discuss various matters over the former's three-day visit to the east African country. Among these was a deal to help Kenya set up a science and technology centre.Korea will support the full establishment of the Kenya Advanced Institute of…See More
Jun 9
CFO Kenya posted a blog post

Potential Sh4 billion fine for Imperial Bank heads

The Capital Markets Authority (CMA) board has set up hearings to determine what role the former directors of the fallen Imperial Bank played in, and thus their liability for, material misstatements contained in the information memorandum issued to the investing public by way of their Sh2 billion bond issue just before the bank…See More
Jun 2
CFO Kenya posted a blog post

IRA report: underwriters made Sh226 million loss in 2015

According to the Insurance Regulatory Authority (IRA) report for the fourth quarter of 2015, insurance companies incurred underwriting losses for general business in 2015. The net insurance loss was Sh226.3 million, compared to the Sh2.5 billion profit reported in 2014. The report, released by Sammy Makove, IRA chief…See More
May 26
Profile IconDaniel Mwaniki, Losike Albert Koteen, Jovan Grujic and 7 more joined CFO Kenya | Finance Professionals Kenya
May 21
CFO Kenya posted a blog post

Kihara Maina joines I&M Bank Ltd as CEO

Kihara Maina (pictured) has joined financial services firm I&M Holdings as its new CEO, as the company gets ready to accelerate its growth plans to attain a tier one bank status. Maina replaces outgoing CEO, Arun Mathur with immediate effect, though Mathur will maintain an advisory role within the group. Sarit Raja- Shah,…See More
May 19
CFO Kenya posted a blog post

New CBK board to push for further reforms and stability, says chairman

According to Mohammed Nyaoga, the incoming board of the Central Bank of Kenya (CBK) will push for further reforms and sound policies in the banking sector. Speaking to a local Kenyan newspaper, Nyaoga, chairman of the board, said:"The role of the CBK board is clearly codified under the Central Bank of Kenya Act. It is predicated upon…See More
May 12
CFO Kenya posted a blog post

ARM Cement receives ShSh14bn injection from CDC

Development financier CDC, owned by the UK’s Department for International Development (DfID), will inject Sh14.1 billion ($140 million) into ARM Cement. This will make it the single largest shareholder in the Kenyan company. Mark Pay (pictured), CDC’s MD for Equity Investments, said in a statement:"We…See More
May 5
CFO Kenya posted a blog post

Britam to pay dividends despite Sh1 billion loss

Despite announcing a loss of Sh1 billion for the year ending December 2015, Britam Holdings has maintained its dividend payout of Sh0.30 per share, translating to a payout of Sh581.5 million. Benson Wairegi, Britam’s Group MD, has said:"The downturn in performance of the securities market has…See More
Apr 28
CFO Kenya posted a blog post

Chase Bank to reopen on 27 April as KCB takes over

Chase Bank is scheduled to reopen next week Wednesday, 27 April, following an agreement by the Central Bank of Kenya and Kenya Commercial Bank (KCB) on how to get the collapsed lender back up and running. CBK said in a statement:"All Chase Bank Ltd (in receivership) branches will open by Wednesday, April 27, 2016. The…See More
Apr 21
CFO Kenya posted a blog post

France approves Sh28 billion for infrastructure development

Kenya has signed seven memorandums of understanding (MOUs) with France, which will see the east African country receive some Sh28.8 billion (€250 million) for various infrastructure development projects. The financing includes grants and loans negotiated through the National Treasury. Almost half of the money, some…See More
Apr 14
CFO Kenya posted a blog post

Uganda central bank cuts key lending rate

On Monday this week, Uganda's central bank cut its benchmark lending rate, as the inflation outlook had improved.Emmanuel Tumusiime-Mutebile, Bank of Uganda (BOU) Governor, said:"Given that the inflation outlook has improved and to ensure that real economic growth remains close to potential,…See More
Apr 7

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