CFC Stanbic has recorded a 33.6 per cent drop in profits after tax for the nine months to September following a decline in non-interest income.

The International Finance Corporation (IFC) reduced investment in Kenya’s first Real Estate Investment Trust (Reit) to avoid breaching its rules after poor market response to the issue.

The STANLIB Fahari Income-REIT Initial Public Offering is expected to kick off trading at the Nairobi Securities Exchange (NSE) on Friday, November 27.

Atlas Development, the African focussed support services and logistics company, announced that it has established an Ethiopian joint venture company ('the JV') with Orchid Business Group PLC ('Orchid'), a prominent Ethiopian infrastructure, construction & logistics company, to provide industry leading international standard services in Ethiopia. This significant development is in line with the Company's strategy to focus on advancing its project pipeline in Ethiopia to open up additional opportunities.