(NAIROBI, KENYA) – Average annual commissions earned by M-Pesa agents in Kenya have fallen to a record low of KES 112,244 (USD 867, GBP 670), squeezed by a fast growing number of outlets competing for transactions. The figure, which works out to roughly KES 9,353 (USD 72, GBP 56) perContinue Reading
(NAIROBI, KENYA) – Imperial Bank, operating under receivership, has taken control of Salute Holdings Limited, one of East Africa’s largest authorised distributors of Apple products. The move is part of a wider push by the lender to recover billions of shillings owed by borrowers following its collapse in 2015. TheContinue Reading
(MOMBASA, KENYA) – A data entry mistake has cost a Finnish equipment maker a container handling contract worth KES 947 million (USD 7.31 million, GBP 5.6 million) from the Kenya Ports Authority. The Court of Appeal in Nairobi upheld the decision to disqualify Kalmar Finland Oy after the company changedContinue Reading
