Kenya has approved the $2.3 billion Asahi EABL deal, removing one of the biggest regulatory obstacles to Japan’s Asahi Group taking control of Diageo’s 65% stake in East African Breweries Limited. The Competition Authority of Kenya granted conditional approval for the transaction involving Diageo Kenya Limited and UDV Kenya, bringing Asahi closer to completing one…
Kenya could access about $400 million from the World Bank within six weeks as rising energy costs and other shocks strain government finances. The Kenya World Bank emergency funds would come through an existing crisis-response facility rather than a conventional new loan. The financing comes as inflation accelerates and public debt rises above KSh13 trillion….
Kenya’s central bank has proposed tougher oversight for large lenders under a new framework for domestic systemically important banks, or D-SIBs, opening a consultation that could reshape how the country’s biggest banks are supervised and capitalised. The Central Bank of Kenya said on September 10 that it had released revised prudential guidelines, risk-management rules, guidance…
FirstRand shares jumped on Thursday after South Africa’s banking group forecast stronger earnings growth in the coming financial year, shifting investor attention from a costly UK motor-finance dispute toward the underlying performance of its businesses. The lender expects net interest income to increase at a high-single-digit rate in FY2027, while normalised earnings are forecast to…
