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KCB gets nod to acquire two banks in the region

KCB gets nod to acquire two banks in the region
Friday June 04 2021
Banque Populaire Du Rwanda (BPR) stand in Kigali. KCB was granted approval for the acquisition of Rwanda’s BPR and African Banking Corporation Tanzania Ltd. PHOTO | FILE | NMG
Summary
KCB said the acquisitions in Rwanda and Tanzania are part of the group’s ongoing strategy to achieve regional relevance and will increase the brand’s footprint while reinforcing existing market capabilities.
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Kenya Commercial Bank Group’s shareholders approved a proposal to acquire up to 100 percent of issued ordinary shares in two banks in Rwanda and Tanzania.
Approval for the acquisition of Banque Populaire Du Rwanda (BPR) and African Banking Corporation Tanzania Ltd (BancABC) was granted electronically during the 50th annual general meeting held on May 27. ....

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Safaricom hits record 60.2 pc of NSE wealth

Safaricom hits record 60.2 pc of NSE wealth
Tuesday January 19 2021
By ELIZABETH KIVUVA
Summary
The telecommunications company’s valuation has risen by Sh84 billion since the year started, closing yesterday’s trading at Sh1.45 trillion.
Safaricom’s latest share of wealth on the NSE is a significant climb from 58.7 percent at the end of December last year or 42.5 percent two years ago.
The telco’s share price closed at Sh36.35 as at Monday having gained 6.13 percent on year to date, continuing with the rally that started late last year on news that the Central Bank of Kenya had ended the zero-rating of M-Pesa transactions of up to Sh1,000. ....

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