In Rwanda, the cost of handling cash is said to be higher than the profits of the all local banks with the exception of Bank of Kigali. On average, the financial institutions spend between 18 and Rwf20 billion annually managing money. Ted Kaberuka, Economic Analyst joins CNBC Africa to share on this and the solution.
Kenya has seen an active few days in business headlines, from Kenyan lender, Equity Bank, looking to acquire Banque Commercial du Congo, to a drop in cumulative insurance profits, to the Kenyan Revenue Authority (KRA) possibly reducing tax incentives to manufacturers, to unpack it all, Analyst and SME Consultant, Victor Otieno joins CNBC Africa for more.
Master Drilling delivered steady interim results with a strong performance recorded locally. The global drilling company reported profits worth $9.7 million for the six months ended-June. Revenue increased by 11.3 per cent to $67 million. Joining CNBC Africa is Danie Pretorius, CEO of Master Drilling.
Cashbuild sees revenue rise but profit disappoints
Kenya's president signed a law that raises the tax rate on gambling.
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