Weekly Highlights! Here are some of the biggest stories that made headlines this week 49 of 2024:
1) The November 2024 inflation rate came in at 2.8%, slightly up from the 2.7% recorded in October 2024. @CBKKenya @KNBStats
2) During the first nine months of 2024, @KCBGroup stood out as the top earner among listed banks, with a remarkable revenue of Ksh142.9 billion.
@hfc_kenya recorded the fastest growth in profitability.
3) DTB Group announced a Ksh 7.4 billion net profit, representing an 8.5% growth in the nine months ended September 2024. @DTBKenya
4) NCBA Group PLC posted a profit after tax of Ksh 15.1 billion in its Q3’2024 financial results, a 3.0% increase compared to the Ksh 14.6 billion reported in Q3’2023. @NCBABankKenya
5) In addition, NCBA scooped 3 prestigious awards at the 13th Marketing World Awards, including Best in Customer Experience and Campaign of the Year for the ‘Twende Mbele’ campaign. @NCBABankKenya
@nwainaina, NCBA Group Director of Marketing, Communications, and Citizenship, was also honored as Marketing Woman of the Year.
NCBATwendeMbele #Goforit
6) HF Group released its Q3 2024 financial results, reporting a 105% increase in profit after tax, driven by strong growth in non-interest income. @hfc_kenya
7)Our CEO, Robert Ochieng, was recognized among the Top 40 Under 40 Men by Business Daily Africa!
#Top40Under40
8) ICEA LION Group announced a strategic partnership with KASNEB Foundation to promote financial literacy and empower young professionals, support underprivileged students pursuing KASNEB qualifications, and drive institutional growth through targeted financial literacy initiatives. @ICEALION
9)This week, treasury bills were oversubscribed, with the government raising Ksh 34.65 billion from the Ksh 24 billion on offer. The interest rate on the 91-day paper is heading into single-digit territory. @CBKKenya
10) Two firms listed on the Nairobi Securities Exchange, Scan Group and Kakuzi, issued profit warnings this week. Scan Group cited foreign exchange losses, while Kakuzi pointed to supply chain disruptions caused by prevailing geopolitical tensions in the Middle East.
11) Capital Markets Authority has approved Kenya’s largest company, Safaricom, to establish its own Money Market Fund, Ziidi, which will be accessible through M-Pesa. @SafaricomPLC
12)Safaricom Plc hosted an exclusive event for business owners from the Greater Western region, where they gathered to gain insights on smart financial strategies to boost their businesses.
This event is part of Safaricom’s celebration of 24 years of powering Kenya’s progress. @SafaricomPLC.#GrowWithSafaricomBusiness
13) Britam Life Assurance was officially licensed by IRA Uganda to operate as a Life Insurance Provider in Uganda. @BritamEA
14) We are hosting an X Space on the Q3 Banking Sector & Safaricom Half-Year Results on Tuesday, Dec 3, 2024. Join us to learn about how the banking sector performed in Q3, get a breakdown of Safaricom’s half-year results, and hear expert insights and market predictions. Don’t forget to set a reminder here!
14) We’re kicking off the new year with a personal finance and investment masterclass in January 2025. Get ready to gain the mindset, skills, and tools to take control of your finances and set the right pace for the year.
