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 […]

How Gulf Energy Colluded With Insiders To Fleece Kenya Airways With Outrageous Fuel Prices

Kenya Airways (KQ) former finance head Alex Mbugua colluded with cartels to fleece the airline dry through fuel tenders, insiders have revealed. Information reaching Kahawa Tungu indicates that Mbugua colluded with cartels at Gulf Energy to sell fuel to KQ at exaggerated prices, which saw the carrier lose at least Ksh400 million per year. Our […]

Kenya: Only KCB takeover can save NBK, Central Bank governor tells parliament

The National Bank of Kenya (NBK) faces imminent collapse if it is not taken over by KCB Group in the proposed merger of the two lenders, Central Bank of Kenya (CBK) Governor Patrick Njoroge has warned. Dr Njoroge, while appearing before Parliament Tuesday, said failure to rescue the struggling bank would be disastrous to its […]

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 […]

Nairobi – Mombasa train continues to make losses 18 month in

The SGR project is yet to achieve profitability. Kenya revised downwards earnings from the SGR in the first full year of operations by 44 per cent to Sh5.7 billion from the previously reported Sh10.6 billion. It generated Sh4 billion last year against the initial announcement of Sh8.72 billion, almost a 50 per cent adjustment. Kenya’s […]