Centum Investments founder to acquire up to 49.99% of company

The capital markets regulator on Monday allowed Dr Christopher J Kirubi to acquire up to 49.99 per cent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders. The exemption, pursuant to Regulation 5(1) of the Capital Markets Authority (CMA) Takeovers & Mergers Regulations, 2002, will see Kirubi […]

East African Stock Exchanges suffer due to Covid-19 panic

TRADING on East African stock exchanges has been hit by the impact of the coronavirus pandemic to register low turnover and market capitalisation records in recently days. The three exchange indices- Dar es Salaam Stock Exchange (DSE), Nairobi Securities Exchange (NSE) and Uganda Securities Exchange (USE)-started to show plunging sign at the beginning this month’s […]

Kenyan Bank regional subsidiaries deliver a 31.5% increase in profits

Kenyan banks registered a 31.52 percent increase in regional subsidiaries’ pre-tax profit to Sh11.57 billion last year supported by increased lending, offering hope for more growth opportunities across the borders. The growth in profit from previous year’s Sh8.79 billion was specifically from subsidiaries in DR Congo, Tanzania, Burundi and Mauritius even as Uganda’s fortunes waned. […]

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 […]