Safaricom reports mixed results for H1 2025, faces challenges in Ethiopia, Kenya
East Africa's telecom giant, Safaricom, sees revenue growth but faces profitability hurdles.
Kenya
Safaricom's CEO Peter Ndegwa earns $1.95 million in 2024 salary
This marks a 19.4 percent decline from last year's earnings of $2.42 million, primarily due to a 31.7 percent drop in the value of share-based awards.
NCBA and Sanlam join forces to expand Kenya's life insurance with digital funeral and education plans
NCBA Group and Sanlam Life Insurance have launched new digital life insurance plans to improve access to affordable funeral and education coverage in Kenya.
John Gachora made $1.4 million as CEO of NCBA Group last year
The total compensation for 2023 exceeded the previous year’s total reward of Ksh147.73 million ($1 million) by 25.75 percent.
Safaricom contributes $7.6 billion to Kenyan economy
Kenya’s largest telecom operator reports significant job creation and social impact.
Equity Bank secures $20 million to boost financial access in Kenya’s refugee regions
The project is designed to enhance financial inclusion for small businesses and individuals in these marginalized areas.
Acorn Holdings completes $21-million green bond repayment
This decision highlights Acorn's strong financial position and solidifies its leadership in Kenya's real estate market.
Suresh Bhagwanji Shah’s stake in I&M Group surges past $36 million
The recent rally in I&M Group's shares on the Nairobi Securities Exchange has significantly boosted Shah's fortune.
BasiGo secures $42 million to boost electric mobility across Sub-Saharan Africa
This investment includes $24 million in Series A equity funding and $17.5 million in debt financing.
Kenya's top banker gains $3 million in three weeks from Equity Group investment
Over the past 20 days, the market value of his stake has increased by Ksh396.21 million ($3.07 million), fueled by a robust stock performance on the NSE.
Safaricom expands M-PESA platform to Ethiopia, boosting regional financial inclusion
The move aims to strengthen regional financial inclusion and boost economic activity across borders.
NCBA opens new branch in Kenya to enhance banking services
NCBA Bank unveils a new branch to deepen local engagement and enhance financial inclusion in Kwale County of Kenya.
Adani Energy signs $741-million power deal with Kenya amid controversy
This partnership is aimed at bolstering Kenya's power infrastructure and underscores Adani's expanding presence in Africa.
South African fund manager eyes stake in ports company owned by Mombasa-based Mohamed Jaffer
This move is part of AIIM's strategy to expand its investments in African infrastructure, particularly in logistics.
Court orders Kenyan media mogul Samuel Macharia to repay $3.1 million to Directline Assurance
Justice Alfred Mabeya, in his ruling, stated that the transfer of funds by Macharia, 82, was illegal and intended to financially cripple the company.
NCBA, backed by Kenya’s richest families, partners with fintech firm to boost African remittances
The collaboration aims to make money transfers faster, safer, and more affordable.