Equity Bank Kenya |

Kenyan Inflation Rate at 17-Month Low as Food-Cost Growth Slows

NAIROBI (Capital Markets in Africa) – Kenyan inflation slowed to a 17-month low in October as food-price growth decelerated and demand was hamstrung by political uncertainty. Consumer prices rose 5.7 percent from a year earlier, compared with 7.1 percent in September, the Kenya National Bureau of Statistics said Tuesday in an emailed statement from the capital, Nairobi. Costs decreased 0.6 percent in the month. The economy of the world’s largest shipper of black tea has been hit…

Kenya’s EABL to convert Tanzania unit loan into equity

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s East African Breweries said it would convert a loan to its Tanzanian business into equity, after reaching a settlement with the competition authority that had been investigating the transaction. Tanzania’s Fair Competition Commission (FCC) threatened to revoke EABL’s 51 percent stake in Serengeti Breweries in 2015, accusing the Kenyan firm of not meeting several conditions. It did not make those conditions public. “In early June, we managed to…

Investors expecting 10% growth left disappointed as Equity Bank Kenya posts flat Earnings

Posted on by The Editorial Team

NAIROBI, Kenya, Capital Markets in Africa — Equity Group Holdings Limited., the owner of Kenya’s biggest lender by market value, posted flat earnings that disappointed investors who had expected growth of more than 10 percent, as weaker currencies weighed on its regional operations. Net income grew 0.6 percent to 17.3 billion shillings ($170.4 million) in the 12 months through December from 17.2 billion shillings a year earlier, Chief Executive Officer James Mwangi told an investor briefing Tuesday…