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 […]
Category: Kenya Business
Kenya: COVID-19 Brings Economy to Near Standstill
With people staying at home, conferences suspended, nightclubs closed, schools shut and global supply chains disrupted, Kenya has started walking down the path of nations whose economies have been devastated by Covid-19. Companies are trying to figure out where to get money to pay their employees at the end of the month due to the […]
Moody’s downgrades Kenyan banks following sovereign one earlier this week
It said the lower rating resulted from the downgrade of the issuer rating of the Kenyan government given earlier this week. KCB Group said its rating had been affected by the sovereign downgrade but added that an upgrade would have a similar effect on the bank. Moody’s said that an erosion of financial metrics and […]
Kenya shilling in slight fall as dollar demand surges
The Kenya shilling fell marginally against the United States dollar on Thursday as it continued with a downward trajectory amid rising demand for the greenback. The shilling traded at an average of 101.25 to the dollar, down from 101.20 in the previous session. The Central Bank of Kenya quoted the currency at 101.23 to the […]
China tops list of lenders to Kenya
China was the top country that advanced bilateral loans to Kenya in 2017, latest data from the Treasury shows. China gave Kenya Sh520 billion ($5,202.37 million) for the period ending December 2017. The Treasury data shows that China loans to the Kenyan government have been growing since December 2015 when it advanced the government a […]
Pesalink app signs up 2 million customers in 60 days
IPSL Chief Executive Officer, Jennifer Theuri says they hope to raise the number of banks using Pesalink in the next few weeks So far, 22 commercial banks are part of the network allowing customers to move money across banks through the app. The banks include; I&M Bank Kenya, CBA, First Community Bank, Paramount Bank, Jamii […]
Europe Investment Bank signs $100m+ facility with Equity and HF for lending to regional SMEs
Equity Bank of Kenya Limited Chief Executive Officer James Mwangi (R) and European Investment Bank Vice-President Pim Van Ballekom (L) in Nairobi on 29/03/2017. Equity Bank has signed Kshs 10.5 Billion financing agreement with European Investment Bank to support regional entrepreneurs. European Investment Bank, the long-term lending institution of the European Union, has extended about […]
Kenyan Stock Exchange to introduce ETFs
INDIVIDUAL investors may from the third quarter buy into a diverse number of stocks and bonds including highly priced blue chips trading at the Nairobi Securities Exchange. This will be possible through the Exchange-Traded Funds whose regulations, the Capital Markets Authority and the Nairobi Securities Exchange said yesterday, are being fast tracked. An ETF basket […]
World Bank sees Kenya’s GDP growth at 6.0 pct in 2015
Kenya is due to become one of the fastest-growing economies in east Africa, with a growth forecast of 6.0 percent in 2015 and 6.6 percent in 2016, the World Bank said on Thursday, citing falling oil prices and bigger infrastructure investments. Kenya’s economy grew by an estimated 5.4 percent in 2014, the bank said in […]