Bank of Kigali (BoK) has halted operations in Nairobi after the Central Bank of Kenya (CBK) withdrew its license effective April 2, 2024.
Author: NBM CORRESPONDENT
According to Bloomberg, the product is a self-driving taxi, which was presented to investors in 2019 Tesla plans to unveil its long-anticipated robotaxi in August, Chief Executive Officer Elon Musk revealed on X. “Tesla Robotaxi unveil on 8/8,” he said. According to Bloomberg, the product is a self-driving taxi, which was presented to investors in 2019. Tesla’s shares rose by 5.1% after the development.
Dive into the Latest Edition of Nairobi Business Monthly! Discover the inside scoop on the Nairobi Securities Exchange’s remarkable turnaround in our main story: “After the Bear Comes the Bull.” ➡️ Uncover the secrets behind the market’s shift, whether it’s the departure of CEO Geoffrey Odundo or the strengthening of the Kenyan shilling. But that’s not all! Our April issue is packed with exclusive insights, including: Turkana and West Pokot’s Joint Investment Conference The latest trends in technology and innovation How Chinese tourism is being transformed by technology Don’t miss out on the pulse of Nairobi’s business scene! Download your…
Plans by the government to make access to healthcare treatment for cancer patients cheaper have begun in earnest after Members of Parliament (MPs) in the National Assembly approved a Bill that seeks to reduce the burden of the disease on families.
Zimbabwe has rolled out a new national currency called Zimbabwe Gold (ZiG), Harare’s Central Bank said at a press conference. “The Reserve Bank of Zimbabwe announces the introduction of a new currency – Zimbabwean gold (ZiG),” the bank’s Governor, John Mushayavanhu, said. “This currency will be issued in the form of notes and coins. All reserves of the Zimbabwean dollar will be transferred to it. The new currency will be backed by reserves of foreign currency and precious metals mined in the country. Its exchange rate to the US dollar will be 13.5 Zimbabwean gold per US dollar,” he added.…
Kalle Rovanpera is the winner of the just concluded Safari Rally Kenya 2024 that took place at Hell’s Gate National Park in Naivasha after finishing ahead of both GR Yaris team-mate Takamoto Katsuta and M-Sport Ford’s Adrien Fourmaux.
Since 2022, the Fund has supported over 1,265 MSMEs in West Pokot with loans exceeding Sh233 million and 280 MSMEs in Turkana County with loans totalling over Sh58.7 million.
By Qin Ruijie, People’s Daily In the village of Hongya in Longde county, Guyuan, northwest China’s Ningxia Hui autonomous region, a bonfire crackled merrily on a lively night. Young people and children gathered around the fire, mustering their courage to run, jump, and leap over the flame, welcoming the arrival of spring. “Liaogan” is a folk custom in northwest China, said Yang Guoquan, a resident in the village, adding that jumping over the bonfire symbolizes warding off illness and disasters. “Once the Liaogan Festival is over, spring will arrive,” Yang said. “The best Liaogan activities in Guyuan are in our…
KCB Group has agreed to sell 100% of its struggling subsidiary, National Bank of Kenya Limited (NBK), to Nigeria’s Access Bank subject to regulatory approvals. The deal is currently awaiting regulatory clearance from the Central Bank of Kenya, the Central Bank of Nigeria, the COMESA Competition Commission, and notifications to other relevant regulatory bodies. “This transaction represents what we believe is a great opportunity to maximize value for our shareholders while strengthening the competitive position for the Group,” KCB Group chief executive Paul Russo said. “The past four years have been defining for NBK as a KCB Group subsidiary and…
KCB Group has reported 8% drop in net profit to Sh37.5 billion for the year ending December 2023, compared to the preceding year. The decline, which represents a fall of Sh3.3 billion from the Sh40.8 billion in 2022, is attributed to costs escalation and depreciation of the Kenyan shilling. “Provisions increased by 154.7% from the downgraded facilities in Kenya and additional provisions on foreign currency facilities from the depreciating Kenya Shilling against hard currencies,” the bank said in a statement. Despite the decline in profit, the group’s total assets hit Sh2.17 trillion, representing a 40% jump, boosted by growth in…