Author: The Exchange

Kenya is one of the most diversified and fastest growing economies in Africa, with an average growth rate of 5.7%, inching closer by the day to its ambitious vision of becoming a middle-income country in the next decade. Central to this robust growth has been the invaluable contribution made by co-operatives, popularly known as Savings and Credit Co-operative Societies (SACCOS); which not only play a pivotal role towards the country’s Gross Domestic Product (GDP), but also leave an ineffaceable mark in the lives of millions of members, so much so that the country was recently selected in a series of country studies by the renowned international co-operative research group, the U.S Overseas Co-operative Development Council (OCDC).  

KCB Group Plc reported a 22.2% y/y decrease in EPS to KES6.11. The turn in profitability was mainly due to a slight doubling in Loan Loss Provision (LLP) to KES27.5Bn. Net Interest Income (NII) recorded a solid growth of 21.0% y/y to KES67.9Bn. The balance sheet grew 9.9% y/y to KES987.8Bn, propelled by growth in both deposits (driven by precautionary instincts due to COVID-19 shock) and loan book. During the period, the company rallied from KES38.75 at the beginning of the month and closed at KES41.3 accounting for a significant investor participation in the sector. 

Equity Group reported an 11.6% y/y decrease in EPS to KES5.24. The drop in profitability was as a result of a quadrupling in LLP to KES26.6Bn. Its balance sheet grew by half its previous level to KES1,015.1Bn. Equity group benefited from its digital transformation that accounted for 63% of the total transactions being generated outside the branch network. Its 66.5% acquisition of Banque Commerciale Du Congo that widened the bank’s penetration in the regional market increased its customer deposits by 53% to KES740.8Bn, boosting investor confidence in the growth of the bank across the region. 

Kenya-US Relations 2021? The United States is one of the first countries to establish a diplomatic relationship with Kenya soon after the country gained independence in 1963. The piece of information analyses Kenya’s relationship with the US intellectually, as a source of analysis of their prospects under President Joe Biden. This is in part due to the underlying political ideology of the Cold War, including the United States’ view of Kenya’s position in the fight against the spread of communism in Africa. Since the end of the Cold War, when Kenya joined the US-led world war on terrorism, relations have…

Born on November 8, 1966, in Johnstone, Renfrewshire, Scotland, Gordon James Ramsay was five years old when his family moved to England and grew up in Stratford-upon-Avon. They are four siblings and he is the second of them. Due to his father’s profession, his family moved frequently when he was a child. At one time his father was an alcoholic and a womanizer. At the age of 16, Ramsay left his family to live in his apartment. Ramsay was good at football in his teen years but his playing days were shortened by injuries. At the age of 19, he…

Dave Chappelle Net Worth? Born on August 24, 1973, David Khari Webber Chappelle is an actor, writer, American stand-up comedian, and producer. He was born in Washington DC. His parents were professors named Yvonne Chappelle Seon and William David Chappelle III. Allen University president was his great grandfather, Bishop D. Chappelle. Chappelle was raised in Silver Spring, Maryland. He was a very comedy kind of person so everyone knows from before he will be a great comedian one day. Net Worth It should be less if we say that his net worth is $20-30 million. It should be more than…

Born April 23, 1977, in West Newbury, Massachusetts John Felix Anthony Cena Jr. was. one of five boys (Stephen, Dan, John, Sean, and Matt) of John and Carol Cena. He graduated from Cushing Academy, a private boarding school, and enrolled at Springfield College in Massachusetts, where he was part of the soccer team. In 1998 He graduated from college with a degree in physical activity. He chooses his profession and pursues bodybuilding and works as a limo driver for a living. Embed from Getty Images John Cena Net Worth [table id=35 /] With a net worth of $ 60 million,…

Much of the talk at the moment, and nearly always, is where we should invest in a world of recession, low-interest rates, unpredictable markets and a challenging socio-political climate. As open borders in East Africa close, open, close and re-open again and as Kenya prepares for yet another Covid-19 lock-down our own region is particularly challenging.  

I am a member of several international investment groups and so I am fortunate to hear the views, perspectives and experiences of many clever and visionary investors around the world. I have written here before about ESG investing – Environmental, Social Impact and Governance – the “do’s” of impact invest but I haven’t written about the “Don’ts”. And it strikes me that we should be talking just as much, perhaps even more, about where not to invest at the moment and in the future. 

As Tanzania mourns the loss of late President John P. Magufuli who passed away on March 17th, a new change for the country is coming with H.E. Samia Suluhu becoming Tanzania’s first female President. She will join a small but growing list of African women leaders who will have transformed their country. But what does this mean for Tanzania? In consideration that the first five phases of Tanzania’s Government were led by men, Her Excellency Ms. Samia Suluhu will embark on the 6th Phase of the Presidency, one that seeks to continue part of the Magufuli legacy, but with a…

President John Magufuli of Tanzania died at the age of 61, as announced by the Vice President of Tanzania. According to a televised speech by Her Excellency, Samia Suluhu, the Vice President of Tanzania, President John Magufuli, aged 61, died of heart complications. “It is with deep regret that I inform you that today… we lost our brave leader, the president of the Republic of Tanzania, John Pombe Magufuli,” Vice-President Hassan said in the announcement. For nearly two weeks, President Magufuli had not been seen, inciting rumors that he had been flown to address matters related to Covid. However, Tanzanian…

A precious stone known for its rarity and brilliance, this blue gem is found solely in one place in the entire world: Tanzania, the country it was named after. Now the Swiss luxury brand Bernhard H Mayer (BHM), which offers high-end handcrafted timepieces and precious jewelry through direct selling company QNET, features Tanzanite in its newest collection. Described as ‘a geological phenomenon’, Tanzanite is considered a thousand times rarer than diamonds. The name reflects the gem’s limited geographic origin, as all the mines are located in an area of about eight square miles near the base of Mount Kilimanjaro. As…