NCBA Group has reported a notable 5 percent increase in net profit for the first half of 2024, reaching Sh9.8 billion, up from Sh9.4 billion in the same period last year. This growth was primarily driven by enhancements in customer experience and operational efficiency, showcasing the Group’s ability to navigate a challenging economic landscape.
AMG Realtors has made a significant move by announcing its venture into the American market with the launch of a land investment offering in Dallas, Texas. This new project, named Kenya One, is designed to cater to a diverse range of buyers, including first-time home buyers, growing families, and retirees. The choice of Texas for this expansion is strategic, driven by the state’s robust economy, business-friendly environment, and exceptional growth trajectory.
Dorcas Oduor, has made history as Kenya’s first female Attorney-General, officially sworn in on August 20, 2024. Her appointment marks a significant milestone in Kenya’s legal landscape, reflecting the growing inclusivity within the country’s top legal positions.
Ethiopian Airlines Group is poised to strengthen Ethiopia’s e-commerce sector through a strategic partnership with AliExpress. The collaboration will utilize Ethiopian Airlines’ logistic hub to streamline the distribution of AliExpress products, potentially offering a significant boost to businesses seeking to penetrate international markets.
Ethio Telecom, in collaboration with Visa Inc., has launched Ethiopia’s first wallet-based virtual Visa Card and introduced services aimed at improving remittances via Visa Direct and the Telebirr Remit App. This partnership marks a significant step in expanding Ethiopia’s digital banking services, providing more accessible and convenient financial tools to the population.
MTN Uganda and the Capital Markets Authority (CMA) have initiated discussions on a potential partnership aimed at increasing investment in Uganda’s capital markets. This collaboration seeks to broaden public understanding of the capital markets, often perceived as accessible only to a privileged few, and make them more inclusive for all Ugandans.
BasiGo has secured a significant investment of KSh1.3 billion from the United States International Development Finance Corporation (DFC) to ramp up local assembly of its electric buses. This loan facility is expected to play a crucial role in fulfilling orders from Nairobi matatu operators, who have already placed over 500 reservations for these vehicles. The investment will also support BasiGo’s plan to create at least 300 green manufacturing jobs, further boosting the local economy.
Starlink is making significant strides in Kenya by introducing a rental option for its satellite internet kits, addressing a major barrier to adoption. This new initiative allows customers to rent the hardware on a monthly basis, with a one-time activation fee of KSh 2,700 and a monthly hardware rental fee of KSh 1,950. This move aims to make Starlink’s services more accessible by reducing the upfront cost, which previously deterred many potential users.
