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 […]

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 […]

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 […]

S.Africa announces visa waivers to Qatar, Saudi Arabia, UAE and New Zealand to boost tourism

South Africa on Thursday announced visa waivers for four countries in a bid to boost tourism amid an economic crisis and falling visitor numbers. South Africa on Thursday announced visa waivers for four countries in a bid to boost tourism amid an economic crisis and falling visitor numbers. Visitors from Qatar, Saudi Arabia, United Arab […]