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UNICEF and Safaricom launch Internet of Good Things in Kenya

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Internet of Good Things provides access to life-saving and life-enhancing information, free of data charges by Safaricom. UNICEF and Safaricom have launched the Internet of...

Good Data Helps African Countries to Make Best Development Policy Decisions

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Government enforces new levy on tenders issued

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DIGITAX PARTNERS WITH STATSSPEAK GROUP TO ONBOARD INDIVIDUALS & BUSINESSES ON E-TIMS

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The Hub Karen unveils fundraising option for the endangered Mountain Bongo

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The increase in the operating income was more than the rise in operating expenses to Sh1.07 billion from Sh905. 2 million, helping HF to more than double its profit in the period where the sector’s earnings slowed. The performance defied an environment of falling interest rates on loans in line with sustained decline in Central Bank Rate. Returns on government paper have also been falling even as foreign exchange income also softened on the back of reduced volatility on the shillings’ exchange rate. HF booked an 87.6 percent rise in income from securities to Sh595.97 million from Sh317.9 million while income from loans and advances grew to Sh1.18 billion from Sh1.16 billion. Operating expenses were driven by a rise in staff costs to Sh511.22 million from Sh437.21 million, even as the provisioning for loan losses eased to Sh110.43 million from Sh109.1 million. HF’s total deposits rose by 16 percent to Sh50.11 billion from Sh43.75 billion, which the lender attributed to increased market confidence after the recent rights issue. The balance sheet grew by 18 percent to Sh73.4 billion.

HF Q1 profits rise to Kes 327 Mn

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HF Group's net profit for the first three months of trading ended March 2025 rose 2.2 times to Sh327.93 million on the...
Equity Group posted Sh14.8 billion net profit for the first quarter ended March 2025, marking a 3.86 percent decline on the back of falling non-interest income. The net earnings retreated from Sh15.39 billion posted in the preceding similar quarter and came in the period net profit from subsidiaries in Rwanda, Uganda, South Sudan and Democratic Republic of Congo posted reduced earnings. The group’s non-interest income fell by 11.8 percent to Sh19.61 billion even as net interest income rose by 2.6 percent to Sh28.57 billion.

Equity Q1 profits drop to Kes 14.8 Bn

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Equity Group posted Sh14.8 billion net profit for the first quarter ended March 2025, marking a 3.86 percent decline on the back...

Absa bank Q1 profits rise to Kes 6 Bn

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Absa Bank Kenya has reported a 3.6 percent growth in profit after tax for the three-month period ended March riding on cost...
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Eddys Kitchen Initiative Launches School Feeding Program in Nyalunya Primary School

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The poverty status of most parents in Kisumu East is keeping many children out of school despite the 2013 Free Primary Education (FPE) aimed...

FLORIAN SEICHE, HMD GLOBAL CEO VISITS KENYA

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HMD Global Chief Executive Officer (CEO) Florian Seiche visits Kenya. The high-level visit is part of the CEO’s visit to the East Africa markets aligning the company’s outlook...

Sanlam posts 38% revenue improvement

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Listed non-bank financial services firm Sanlam Kenya has posted a Kshs 413.6 million loss before tax in its full-year financial results released today. Topline, the...

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