NCBA (NIC and CBA merger) add shares on Nairobi Stock Exchange

NCBA Group, an amalgamation of NIC Group and Commercial Bank of Africa, yesterday listed 793.8 million new shares at the Nairobi bourse, further cementing the merger. The newly entity officially began operating as one on October 1, after Central Bank of Kenya gave the green light on September 27. Given NIC Group initially had 703.9 […]

Uganda’s electricity regulator hikes Umeme’s performance targets

The Electricity Regulatory Authority (ERA) has revised power distributor Umeme’s performance parameters, allowing the latter to invest more on the network in the next seven years The Electricity Regulatory Authority (ERA) has revised power distributor Umeme’s performance parameters, allowing the latter to invest more on the network in the next seven years. While it had […]

Umeme implores households to use power for productive purposes

Ugandans have been urged to use electricity for economic use as the country’s main power distribution firm, Umeme Limited, looks to grow demand for power. Umeme Limited’s regional manager for western Uganda, Isaac Katewanga, has implored households to use electricity for economic activities, too. That will help to narrow the gap between Uganda’s installed power […]

Two Rivers Mall pays off $80m Co-op Bank loan using another loan

Centum Investment Company #ticker:ICDC has repaid a Sh8 billion loan it took from Co-operative Bank to develop the Two Rivers Mall in Nairobi. The Nairobi Securities Exchange-listed firm used a new loan from South Africa’s Standard Bank to retire the Co-op Bank debt. Centum says the finance costs on the Standard Bank loan are relatively […]

KCB Group lists more shares at NSE to fundraise for expansion

KCB Group Plc on Friday listed an additional 142,979,717 shares at the Nairobi Securities Exchange (NSE) following the successful acquisition of the National Bank of Kenya (NBK). The additional stock now pushes the lender’s shares to 3,209,043,204, further cementing its position as the biggest bank in terms of market capitalization at the Nairobi bourse. KCB […]

S&P affirms Ecobank B/B rating with stable outlook

We expect Ecobank group’s pan-African reach and stable operating conditions to support its revenue growth prospects. Although we see risk in the group’s high double leverage, there is adequate liquidity at the holding company level. Notwithstanding its weaker financial performance, we continue viewing Ecobank Nigeria Ltd. as core to the group’s strategy. We are therefore […]