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Blog Posts

National Bank fails to report profit drop, faces fine

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

The Capital Markets Authority (CMA) said in its latest annual report that National Bank of Kenya was one of the public listed companies punished for breach of capital market rules.

According to the report, National Bank, which is…

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Partnership between Hollard and Cigna broadens African footprint

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

Brooks Mparutsa, executive director of Hollard’s international business, has said that the insurer has “significant acquisitions” planned on the continent in the coming years, and would be partnereing with New York Stock Exchange-listed Cigna, a global…

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Kenyan economy sees growth of more than 4 percent

Posted by CFO Kenya on June 29, 2017 at 8:00 0 Comments

Kenya’s economy expanded by 4.7 percent in the first quarter of 2017, compared to 5.3 percent for a similar period last year. Kenya National Bureau of Statistics (KNBS) Director General Zachary Mwangi attributed the slowdown in growth to a contraction in the…

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CBK takes cyber security seriously

Posted by CFO Kenya on June 22, 2017 at 8:00 0 Comments

The Central Bank of Kenya (CBK) – the financial services sector regulator – has given Kenyan banks two months (until 31 August) to compile and file detailed reports of their plans to deal with rising cybersecurity threats. The move aims to ensure industry stability as more processes become automated.

The draft guidance note on cyber risk…

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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
Jul 13
John Martin is now a member of CFO Kenya | Finance Professionals Kenya
Jun 22
CFO Kenya posted blog posts
Jun 22
CFO Kenya posted a blog post

Nicholaos Yiannakis new Limuru Tea MD and Chair

NSE-listed agricultural firm Limuru Tea has appointed a former Unilever executive, Nicholaos Yiannakis, as its new MD and chairman. Yiannakis takes over from Duncan Stickler, who is retiring from both roles.Limuru Tea said in a statement:“Nicholaos has over four years of professional experience in executive management and was the immediate former managing director of Unilever Tea…See More
Jun 8
CFO Kenya posted blog posts
Jun 1
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

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