Standard Chartered Bank partners with Uniserv to provide solutions for overseas tertiary education
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Stanchart Clients To Get Up To Ksh 7 Million Loan For University Fees
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Safaricom to retain dividends despite Ethiopia cash demands
Monday June 28 2021
By PATRICK ALUSHULA
Safaricom #ticker:SCOM will maintain a dividend policy of paying out 80 percent of its net profit despite committing billions of shillings to expansion into Ethiopia through a consortium.
A consortium majority controlled by Safaricom pledged to invest Sh909.5 billion ($8.5 billion) in their network over the next decade, including the Sh90.9 billion ($850 million) licence fee.
This has raised analysts’ fears that Safaricom could cut dividends to fund the Ethiopia operations through a mix of debt and internal revenues.
“Our dividend payout which is 80 percent of net income for the year remains unchanged,” said Dilip Pal, Safaricom CFO, at an analysts conference call.
Auctions cut loan defaults Sh9.2bn in April
Summary
Latest Central Bank of Kenya (CBK) data show that the non-performing loans dropped to Sh431.7 billion in April from a peak of Sh442.2 billion in February.
The mounting defaults were a reflection of the struggles of workers and businesses in an economy recovering from a coronavirus-induced slump.
Friday May 28 2021
By CHARLES MWANIKI
Summary
Latest Central Bank of Kenya (CBK) data show that the non-performing loans dropped to Sh431.7 billion in April from a peak of Sh442.2 billion in February.
The mounting defaults were a reflection of the struggles of workers and businesses in an economy recovering from a coronavirus-induced slump.