Kenyan tycoon Gideon Muriuki’s Co-op Bank eyes expansion after robust Q1 2024 performance
The bank aims to open 15 new branches this year, reaching 210 outlets. Recent openings include Imaara Mall on Mombasa Road and Ugunja in Siaya.
Kenya
Kenyan tycoon Suresh Bhagwanji Shah loses $1.6 million from I&M stake
Renowned Kenyan businessman Suresh Bhagwanji Shah has encountered a significant downturn in the market value of his stake in I&M, mirroring a…
Equity Group led by Kenyan banker James Mwangi reports $122.2-million profit in Q1 2024
Equity Group’s total assets rose to Ksh1.69 trillion ($12.91 billion) by the end of the quarter, a 10.46-percent rise from Ksh1.53 trillion ($11.69 billion) a year ago
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Bank extends deal with Matercard
The collaboration, which has been instrumental in driving Kenya’s digital payments landscape, will provide enhanced value propositions for cardholders across the country.
Cemtech eyes 5,500 clinker plant as Narendra Raval tightens grip on Kenyan market
Under Raval’s leadership, Cemtech has submitted an environmental impact assessment (EIA) report to the National Environment Management Authority (NEMA) for review.
Kenyan tycoon James Ndegwa loses $3.2 million from NCBA stake
Ndegwa remains one of Kenya’s wealthiest investors and continues to hold a significant position among the country’s richest individuals.
Co-op Bank led by Gideon Muriuki secures $25.2 million to support women-owned businesses in Kenya
Muriuki, Co-op Bank’s CEO and managing director, welcomed the financing, emphasizing the critical need to bolster support for women-owned businesses.
Aga Khan IV takes $3.5-million hit from stake in Nairobi-based insurer Jubilee
The follows a notable surge of Ksh481.15 million ($3.63 million) recorded between March 19 and 29.
Backed by Kenya’s richest, NCBA Bank hikes loan rates: What it means for your wallet
NCBA Bank Kenya justified the increase, citing the need to align with prevailing market conditions.
Kenyan billionaire Baloobhai Patel buys big, now owns more than 1 percent of Absa Bank
Patel’s latest acquisition reflects a significant year-on-year increase in his Absa holdings. In December 2022, he held 47.57 million shares (0.88-percent stake).
Kenyan tycoon Gideon Muriuki-led bank’s wealth arm hits $1.7 billion in assets under management
Co-op Trust’s assets have quadrupled since 2014, rising from Ksh52.5 billion ($392.4 million) to Ksh218.38 billion ($1.7 billion) in 2023.
Kenya’s wealthy Merali family loses $1.2 million from Sasini Tea stake
Despite this setback, the Merali family remains one of the wealthiest investors on the NSE and a prominent figure among Kenya’s richest families.
Bamburi Cement, backed by Kenyan tycoon Baloobhai Patel, to distribute $15 million to shareholder
The proposed dividend payout represents a notable increase from the previous dividend of Ksh0.75 ($0.00563) per share, amounting to Ksh272 million ($2 million).
Kenyan entrepreneur Tesh Mbaabu’s startup shuts down B2B distribution unit after $40-million fundraise
Kenyan entrepreneur, Mbaabu, CEO of MarketForce, cited challenging profit margins and a funding drought as primary reasons behind the decision.
Kenyan tycoon Suresh Bhagwanji Shah loses $6.2 million from I&M Bank stake
This contrasts sharply with the $6.9-million profit he made between Feb. 14 and March 26 when the value of his I&M Bank Group stake soared from $23.47 million to $30.43 million.
Kenyan tycoon Gideon Muriuki’s Co-op Bank provides $3.75-million boost to brokerage unit
The loan, marking an increase from the previous year’s advances, underscores Co-op Bank’s steadfast support for Kingdom Securities.