The National Bank of Ethiopia (NBE) is deliberating on taking bankers’ non-performing loans (NPL) in Tigray off the banks’ balance sheets. The bank is working with the Ethiopian Bankers Association …
Banking, Finance & InvestmentEconomyEthiopia
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Eastern Africa
- Eastern AfricaEconomyTransportation & Logisitics
Drivers in Nairobi set to start paying parking fees from Friday
Motorists in Nairobi will from Friday pay parking fees using a new system developed by the county as the local government parts ways with the Kenya Revenue Authority (KRA). Director …
Britam Holdings has posted a net profit of Sh667.5million for the half-year period ending June 30, a 77 per cent jump from Sh376 million posted in a similar period last …
- AfricaAFRICA NEWSBanking, Finance & InvestmentBusinessEastern AfricaKenyaKenya NewsNewsNigeriaSpotlightTechnologyWestern Africa
Kenyan court freezes more money belonging to Flutterwave
A Kenyan High Court has frozen an additional sum of $3.3 million (Sh400.6 million) belonging to Nigeria’s fintech Unicorn Flutterwave over allegations of money laundering and card fraud. This comes …
- Banking, Finance & InvestmentBusinessEastern AfricaEconomy
CAK Approves Zuku Owner and Foreign Firms Loans to pay TV providers
The Competition Authority of Kenya(CAK) has approved the conversion of loans advanced by three foreign firms to internet and pay TV provider, Wananchi Group into equity shares. The companies, Triple …
- BusinessEastern AfricaEconomyFinance & Services
Kenyan founded Fintech Pezesha Raises $11m in Pre-Series by Women’s World Banking Capital Partners
Kenyan founded Pan-African embedded finance Fintech Pezesha has raised a pre-series A funding round of $11 Million in a mix of $6 million equity and $5 million debt. The round …
- AgricultureEthiopiaFood Production
Ethiopia to Sell Eight Sugar Factories in a Bid to Improve Local Production
Ethiopia aims to wean local millers off state budgetary support and improve local production by selling eight sugar factories. This week, the government announced Ernst& Young LLP will advise on the …
- Eastern AfricaEconomyFinance & Services
Kenya’s SportPesa has been awarded a license as BCLB withdraw from it position
SportPesa has been awarded a license to operate in the current financial year ending June 2023, ending years of regulatory and court battles pitting the firm against the Betting Control …
- Eastern AfricaEconomyEnergy
Kenya Power Accused Of Locking Out Local Manufacturers In Procurement Process
The Energy Meter Assemblers and Manufacturers Association is protesting being locked out of the procurement of power distribution products by energy utility firm Kenya Power. The Association in a letter …
- Banking, Finance & InvestmentEastern AfricaEconomy
Absa Bank Kenya reported its financial results for the year with Net Profit growing by 13% to KES 6.3B
Leading financial services group Absa Bank Kenya reported its financial results for the half year period ended June 2022 with net profit growing by 13 percent to Sh. 6.3 billion …