Kenyan banker Paul Russo-led KCB Group posts $127 million Q1 profit
KCB Group, led by CEO Paul Russo, posted a $127.9 million Q1 profit, driven by regional growth and digital focus despite non-interest income slipping 9.7%.
East Africa
NCBA, backed by Kenya's richest families, posts $42.3 million Q1 profit
NCBA, backed by Kenya’s elite families, posted a modest 3.41% Q1 profit rise to $42.4 million despite loan book contraction and macroeconomic headwinds.
Mauritian-based firm takes $19 million stake in Suresh Bhagwanji Shah’s I&M Group
Mauritius-based EAGH boosts its I&M Group stake to 15.14% with a $19 million investment, signaling rising confidence in East Africa's banking sector.
James Mwangi-led Equity Group fires 200 Kenyan staff over $11.6 million scandal
The bank, East Africa’s largest by assets, revealed that the affected employees spanned senior managers and junior staff across its branch network and head office.
Mauritian businessman Arnaud Lagesse’s IBL Group posts $87 million profit
The results reflect the continued strength of its international operations, which helped cushion the impact of rising costs in its home market.
Co-op Bank delivers Q1 profit of $53.3 million under Gideon Muriuki
Co-op Bank posted a $53.3 million Q1 profit, up 5.3%, driven by digital lending, strong interest income, and operational efficiency under CEO Gideon Muriuki.
James Mwangi gains $5.8 million as Equity Group shares soar
Mwangi’s stake has grown in value from Ksh5.44 billion ($42.06 million) to Ksh6.19 billion ($47.84 million).
Workers seek dues at Bernard Soi’s recently acquired Muhoroni firm
Bernard Soi’s takeover of Muhoroni Sugar sparks labor protests as workers demand unpaid dues, exposing tensions in Kenya’s push to privatize state mills.
Peter Ndegwa leads Safaricom to historic $3 billion revenue
Safaricom posted $3.01 billion in revenue, marking a historic first in East Africa, as it eyes tech-driven growth in Kenya, Ethiopia, and beyond.
Baloobhai Patel linked-Absa Kenya backs $52 million student housing in Nairobi
Absa Bank Kenya, partly owned by investor Baloobhai Patel, is backing a $52 million student housing drive to ease Nairobi’s 300,000-bed deficit.
Firm linked to World’s richest Black man acquires Kenya’s oldest tour company
This reflects the growing appeal of Kenya’s tourism sector to international investors.
Jaswant Rai to invest $43.3 million in recently acquired Nzoia Sugar
Kenya’s Jaswant Rai to invest $43.3 million in reviving Nzoia Sugar, aiming to modernize operations and boost cane development under a 30-year lease.
James Mwangi-led Equity Group seals $495 million deal for MSME
The strategic alliance is set to revolutionize financial access for Micro, Small, and Medium Enterprises (MSMEs) across East and Central Africa.
Charles Russon-led Absa secures $75 million to boost climate projects
Absa Bank Mauritius secures $75 million from France’s Proparco to back solar, waste, and green building projects aligned with Africa’s climate goals.
Ugandan tycoon Charles Mbire's stake in MTN Uganda nears $70 million
Over the past 51 days, the value of his shares has jumped by Ush17.91 billion (around $4.89 million) as renewed optimism lifts MTN Uganda’s stock price.
Kenya’s largest landowner loses $9.5 million on NCBA stake
This drop comes after a significant fall in the bank’s share price on the Nairobi Securities Exchange (NSE).