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Blog Posts

ARM Cement anticipates Sh14bn injection to kick start new Kitui plant

Posted by CFO Kenya on August 25, 2016 at 8:00 0 Comments

Nairobi Securities Exchange-listed ARM Cement, majority owned by the Paunrana family, is counting on a $140 million (Sh14 billion) capital investment from the CDC Group, a British government-owned fund, to help finance the establishment of a new clinker and cement…

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CBK proposes three-year limit for bank auditors

Posted by CFO Kenya on August 11, 2016 at 8:00 0 Comments

The Central Bank of Kenya (CBK) has put banks on notice with plans to introduce three-year term limits for external auditors handling their books. This as a means of boosting governance and quelling the regulator’s concerns in this regard, following several external…

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Kenya eyes lower spending in 2017/18 fiscal year

Posted by CFO Kenya on August 4, 2016 at 8:00 0 Comments

According to Treasury, Kenya expects public spending to fall to 27.7% of GDP in the year to June 2018, from 30.6% in the current fiscal year. Furthermore, in guidelines for the 2017/18 budget, it said total revenue collection would be closer to 20% of GDP,…

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Safaricom to pay special dividend

Posted by CFO Kenya on July 28, 2016 at 8:00 0 Comments

Telecoms operator Safaricom, 40 percent owned by Britain's Vodafone, has announced that it will pay a special dividend of 0.68 shillings ($0.0067) per share.



Safaricom CEO Bob Collymore said in a statement:

"There is room for this…

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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

Latest Activity

CFO Kenya posted a blog post

ARM Cement anticipates Sh14bn injection to kick start new Kitui plant

Nairobi Securities Exchange-listed ARM Cement, majority owned by the Paunrana family, is counting on a $140 million (Sh14 billion) capital investment from the CDC Group, a British government-owned fund, to help finance the establishment of a new clinker and cement plant. Work on the integrated cement factory, due to be set up…See More
Thursday
CFO Kenya posted a blog post

CBK proposes three-year limit for bank auditors

The Central Bank of Kenya (CBK) has put banks on notice with plans to introduce three-year term limits for external auditors handling their books. This as a means of boosting governance and quelling the regulator’s concerns in this regard, following several external auditors becoming entangled in the collapse of…See More
Aug 11
CFO Kenya posted a blog post

Kenya eyes lower spending in 2017/18 fiscal year

According to Treasury, Kenya expects public spending to fall to 27.7% of GDP in the year to June 2018, from 30.6% in the current fiscal year. Furthermore, in guidelines for the 2017/18 budget, it said total revenue collection would be closer to 20% of GDP, unchanged from this year. Kamau Thugge, Treasury's principal…See More
Aug 4
CFO Kenya posted a blog post

Safaricom to pay special dividend

Telecoms operator Safaricom, 40 percent owned by Britain's Vodafone, has announced that it will pay a special dividend of 0.68 shillings ($0.0067) per share. Safaricom CEO Bob Collymore said in a statement:"There is room for this one-off special dividend of 27.5 billion shillings due to the cash position of the company, and…See More
Jul 28
CFO Kenya posted blog posts
Jul 21
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, Jovan Grujic, Losike Albert Koteen 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

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