Troubled Nairobi bourse-listed firms roil region’s stockmarkets

The collapse of yet another Nairobi Securities Exchange-listed company has spooked investors in East Africa’s stock markets, raising fears of possible cross-border contagion. Mumias Sugar Company, for many decades Kenya’s biggest miller, was placed under statutory management last week for defaulting on debts estimated at more than Ksh12.5 billion ($125 million). This follows a series […]

Uganda Investment body courts investors to make Tecno phones

A delegation of Chinese investors were in Kampala recently where they showed interest in putting up a plant to manufacture Tecno phones. Their interest would not be the first after another Chinese company harboured similar ambitions and tried to enter into a partnership with Uganda Telecom to make phones. The company executives from Tecno were […]

Kenya: Centum’s performance driven bonus system affects CEO too, giving him a 75 % Salary Reduction

Chief Executive officers are presumed to be immune to the company’s tough policies given that many company boards pull out all the stops to make the bosses happy. However, this is not usually the case for many firms. Centum Investment CEO James Mworia’s failure to meet his performance targets cost him 75 % salary reduction […]

Uganda: How 20% Share Offer Rule Starves Uganda’s Bourse of Public Listings

A rule that requires local companies to offer at least 20 per cent of their shares to the public before they are listed on the Uganda Securities Exchange is keeping away large companies from listing. According to industry sources, large companies operating in Uganda have majority ownership of between 85 per cent and 90 per […]

Kenya: Interest rate cap being blamed for lurking mix of high inflation, unemployment on the way

Parliament must humbly accept to untie the hands of Central Bank by removing the interest rate cap legislation. To avoid sinking to the lowest depths, take money away from the white elephant project and drop interest rate capping The Kenyan economy is starting to buckle under the weight of weak economic policies. The latest estimate […]

Kenya Central Bank governor re-appointed for a second 4-year term

President Uhuru Kenyatta has appointed Dr Patrick Njoroge for a second and final four-year term as Central Bank of Kenya (CBK) governor. The reappointment effective June 11, 2019 was announced by President Kenyatta through a special gazette notice dated May 24, 2019 issued Thursday morning. “In exercise of the powers conferred to me by section […]