I&M Bank has introduced an online foreign exchange trading platform called “I&M Fx Direct”, which positions the lender as the enabler of efficient forex conversion. The launch of the new platform follows common inefficiencies of manual forex transactions, such as delays and the need for constant phone calls. But will it transform how individuals and businesses in Kenya and beyond manage their forex transactions? “We are empowering our business clients by giving them direct control over their forex trades. We want to encourage the adoption of electronic forex trading over traditional methods by showing the benefits of speed, transparency, and…
Author: Victor Adar
Victor Adar
Victor Adar is a seasoned journalist with a Diploma in Mass Communication (Print) from the Technical University of Mombasa. He has previously worked with Reuters, Go Places travel magazine, and Aden Associates International. Since joining NBM in 2012, he has become a key member of the editorial team, covering enterprise, corporate affairs, HR, and technology.
Supermarkets, e-commerce platforms and most businesses will remain a buzz for the better part of this month (November), with shoppers spoilt for choice on product brands to buy and big deals coming their way. Black Friday, which occurs annually on the fourth Friday in November and ends on the first week of December, is a day when stores and retailers temporarily lower their prices to entice customers to purchase more goods at unbeatable promotional prices. To dig more from this month-long shopping festival, major stores in town such as Carrefour, Naivas, Quickmatt and (even) Jaza are sharing curated product deals…
The partnership between Kenya Private Sector Alliance (KEPSA) and Microsoft tech firm that has led to the launch of the Kenya Artificial Intelligence Skilling Alliance (KAISA) is expected to meet high expectations of not only the local and foreign investors, but also that of people who use AI to work, learn and do business. Among the things that the KAISA platform will do is to coordinate AI skills development, innovation, and policy collaboration across key sectors of the economy. AI reveals more than innovation as it will contribute over $3.6 trillion to the global economy by 2034, with KEPSA revealing…
Kenya Airways (KQ), through its healthcare division, KQ Health, has inked a deal with Aga Khan University Hospital in its bid to enhance the untapped medical travel business as the number of people who fly out of Africa to seek medical care hit a record Sh20 million. According to Kenya Airways, CEO, Allan Kilavuka, the national carrier is leaving nothing to chance to rule Africa’s healthcare market. The goal is also to position Kenya as a leading destination for quality healthcare within the continent. “This is an example of how aviation can directly support healthcare access… we’re connecting people not…
Business activity in the Kenyan private sector expanded markedly in October and, rising demand is encouraging companies to increase their purchasing activity for the first time since April, according to the latest Purchasers Managers’ Index (PMI) survey. A look at the fundamentals show that local companies have recorded improvement in sales intakes amid broader economic strengthening in what has caused a “milder increase in business expenses”, with input costs rising at the slowest pace in just over a year. Christopher Legilisho, Economist at Standard Bank painted the bigger picture of the improved economic environment on Tuesday, October 4, revealing that…
A senior academic has called on education stakeholders to align university engineering programmes with the rapidly evolving needs of industry to tackle the persistent mismatch between academic training and workplace demands. Eng. Dr. Julius Butime, Dean of the School of Engineering Sciences and Computing at Strathmore University, said that while thousands of engineering students graduate each year, many struggle to find employment opportunities because of lack of practical and interdisciplinary skills. “Every year, more than 7,000 engineering graduates join Kenya’s labour market. The real struggle begins when they find themselves at a crossroads—their theoretical skills a mismatch in workplace settings,”…
Family Bank, which has traded on the Over-The-Counter (OTC) market since 2006, now plans to sell shares on the Nairobi Securities Exchange (NSE) through an initial public offering in 2026, following shareholder approval. The lender has not disclosed the value of shares to be offered or their price, but said current shareholders will be able to trade their shares freely on the NSE. As of a May 2025 report, the bank was valued at Sh 18.7 per share based on its prevailing OTC price. “We have taken time to prepare, to build value, and to ensure that when we list,…
In a tough economic environment, where businesses are on edge and individuals walking on tight budgets, the Kenya Banking Sector contributed a total of Sh194.81 billion to the national Treasury in the year ended December 31, 2024, as per the Total Tax Contribution (TTC) of the Kenya Banking Sector 2024 report. The collaborative report by the banking industry’s umbrella body, Kenya Bankers Association (KBA), and the PwC Kenya, reveal that TTC from some 36 banks and microfinance institutions represented 8.09 percent of all government tax contributions for the period. Experts say this points to a significant reliance on a small…
Sidian Bank has appointed former Cabinet Secretary during President Uhuru Kenyatta’s regime, James Macharia, as its chairman. He takes over from Centum Investment Company Group CEO Dr. James Mworia, who will remain on the lender’s board. Mr. Macharia, a veteran accountant who began his career in Deloitte’s Tax Consultancy Division as a consultant chartered accountant in London before returning to Kenya in 1989, has held high-level positions across accountancy, consultancy, financial management, merchant and commercial banking, general management, and cabinet-level public service. He joined the African Banking Corporation from Standard Chartered Bank, eventually becoming Managing Director of the Zambian and…
Consumer goods company, PZ Cussons East Africa has started doubling down on its investment in production, distribution, innovation, and placing greater emphasis on the younger Generation Z and Millennials aged below 35 in what would see it invest Sh150 million over the next one year. The firm’s move responds to rapid evolution in consumer behaviour in its personal care category, where younger shoppers experiment more, demand a wider range of scents and formats, and adopt new brands and innovations faster than older cohorts. This redirection also follows factors such as changing market tastes, channel redesign, and portfolio refocusing. “Our research…