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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.
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…Continue
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…
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.