Absa posts 3pc profit growth in first quarter

Absa Kenya reported a three percent net profit growth in the first quarter ended March, weighed down by costs of separating from its former parent company Barclays Plc.

The lender’s net profit stood at Sh1.95 billion in the review period compared to Sh1.89 billion a year earlier.

Its cost of rebranding to Absa, captured as exceptional items, increased 2.2 times to Sh552 million.

“The investment in transition programme will continue to have an impact on our financial results,” Absa said in a statement.

COVID-19 AFRICA RAPID GRANT FUND - THIS GRANT IS TAILORED FOR US!!

Dear Colleagues, University of Nairobi is a member of the African Research Universities Network (ARUA) for which this call is directed. For all those who submitted a proposal to the Kenya NRF call, please retool your proposal and submit one to this call as well (Of course recognising that if funded in both, you will have to decline one 😊). The fight against the COVID-19 pandemic in Africa requires coordinated, responsive research as well as effective, evidence-based communication and science engagement.