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SKY IS THE LIMIT FOR KENYA’S FASTEST GROWING CO-OPERATIVE BANK

By James Wafula in Nairobi. Co-operative Bank of Kenya’s profit has jumped by more than half to Sh16.5 billion, helped by increased income and reduced expenses. The net profit for the year to December 2021- March 2022 was a 53 per cent increase from the Sh10.8 billion reported in 2020. The earnings raced past the […]

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Cooperative bank shrugs off post covid 19 to post kshs 18.5B profit

By James Wafula in Nairobi. Kenya’s Cooperative Bank has defied post Covid -19 economic hardships to post impressive gains in a widely challenging local and regional market building on its digital platform gains. The lender it was noted had faired well in the  post-Covid-19 economic recovery which led to high credit demand pushing up Cooperative […]

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Sudhir win in BoU- Crane Bank case shakes financial  sector

By Our Reporters. The Uganda Supreme Court on February 11, 2022 ruled that Crane Bank ownership reverts to businessman Mr Sudhir Ruparelia, in a historical judgment that ended a five-year legal battle preceded by the bank’s closure. The court in its judgement dismissed an appeal filed by the Bank of Uganda / Crane Bank (in […]

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Kshs 1.8b missing at Kenya treasury

By James Wafula in Nairobi. The mega-headed corruption monster in Kenya has again struck with devastating precision in the public sector. This seems to lend credence to remarks made by President Uhuru Kenyatta last year that the country loses Kshs 2 billion daily to corruption. Yet with only five months in office no “big fish” […]

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Kenya Coop bank opens more branches and revamps operations

By James Wafula in Nairobi. The Co-operative Bank of Kenya will open seven new branches in the country this year, to expand its physical presence and grow its customer base. The ongoing expansion will also see the bank revamp disapora units and raise the bank’s total branches to 200, bucking the trend of maintaining or […]

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Kenya Co-op Bank battles recover Kshs 287M Gov’t Loans

By James Wafula in Nairobi. The Co-operative Bank Group of Kenya  has recorded an impressive 20 per cent growth in the past financial year. The bank started 2022 on a sound footing and is building on its Profit Before Tax, of Ksh16.5 billion for the third quarter of 2021, up from Ksh13.8 Billion posted under […]

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Kenya Co-op Bank battles recover Kshs 287M Gov’t Loans

By James Wafula in Nairob. The Co-operative Bank of Kenya is struggling to recover part of Sh287.42 million loans it received from the Treasury. The bank received the cash for on-lending to government projects, according to the latest disclosures on the country’s debt status. The bank, Kenya’s fourth-largest by market share, was among six privately-owned […]

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Uganda Airlines makes maiden trip to Dubai

By Our Reporter. Uganda Airlines on October 4, 2021 made its maiden flight to Dubai, United Arab Emirates, marking the first intercontinental flight for the national carrier since it was revived two years ago. Currently the revamped airline plies other regional routes to Nairobi, Dar es Salaam, Juba, Kilimanjaro, Mogadishu, Zanzibar and Mombasa.  Uganda airlines […]

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Museveni bans importation of fully built buses as demand grows to 10 million

By  Zurah Nakabugo. African development Bank has projected that the African market will move from 1.2 million vehicles, in demand annually in 2017, to 10 million vehicles demanded annually by 2030, mainly due to population growth. “It’s against this background, that we envisage to have a sustainable motor vehicle industry that will produce 500,000 vehicles […]

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Airlink South Africa inaugurates operations in Uganda

By Daniel Bakalangudde. Airlink a South Africa airline based in Johannesburg has added another new route to its expanding intra-Africa network with the launch of its Johannesburg-Entebbe service. State Minister for Transport, Fred Byamukama presided over the colorful launch ceremony at Entebbe International Airport on Sunday, September 19. The launch had been expected earlier this […]