Workers clean outside the Athi River Mining (ARM Cement factory in Kaloleni within Kilifi County, December 11, 2013. Cement producers and mining companies have for years failed to pay levies and royalties running into billions of shillings. Some of the companies have disputed the amount the Mining Ministry is demanding, while others are in dire […]
Family-owned businesses in Kenya account for over 60% of the total employment Some of the top family empires in the country rake in revenues of over KSh 10 billion per annum Bidco Africa for instance has annual revenues of more than $500 million (KSh 53.9 billion) PAY ATTENTION: Help us change more lives, join TUKO.co.ke’s […]
Allianz has completed its $725 million acquisition of Westpac’s general insurance arm to cement its place as the third largest non-life insurer in the Australian market behind IAG and Suncorp. Allianz Australia MD Richard Feledy says the acquisition “marks an important step in our strategy to grow our partnerships and consumer insurance portfolio in Australia”. […]
Narendra Raval, chairman, Devki Group of Companies during an interview at his Ruiru office on April 19, 2021. PHOTO | DIANA NGILA | NMG Steel tycoon Narendra Raval is seeking to revive Mumias Sugar through a leasing deal that seeks to save the once top miller. Mr Raval, who founded Kenyan steel and cement manufacturer […]
Troubled cement maker Athi River Mining is set for liquidation in the next five months and eventual delisting from the Nairobi Securities Exchange after more than two years under administration failed to revive its operations. The EastAfrican has learnt that the transition of the company to liquidation from administration is set to take place on […]
An Athi River Mining company factory. The firm was once the region’s largest cement maker. The company’s stock was suspended from trading on the NSE indefinitely, effective May 8, 2020. PHOTO | FILE | NMG Troubled cement maker Athi River Mining is set for liquidation in the next five months and eventual delisting from the […]
Mr James Ndegwa, the Capital Markets Authority (CMA) board chairman. PHOTO | SALATON NJAU | NMG The tenure of billionaire businessman James Ndegwa at the Capital Markets Authority (CMA) has come to an end, bringing to a close his six-year term that was marked with conflict of interest accusations. Mr Ndegwa, who was first appointed […]
With four counters suspended and more companies leaving the Nairobi Securities Exchange(NSE) than those joining, poor off-take of new products and a market so concentrated that one company matches the value of all the other 60 companies, Kenya’s capital market is in a sorry state. The bond market has been ripped by scandals after investors […]
The Nairobi Securities Exchange electronic trading screen (PHOTO: FILE) Investment firm Kestrel Capital East Africa is shutting down its fund management business in a move that will see one of the most prolific names at the Nairobi Securities Exchange bow out. In a Kenya Gazette notice on Friday, the Capital Markets Authority (CMA) said Kestrel […]
The Nairobi Securities Exchange electronic trading screen (PHOTO: FILE) Investment firm Kestrel Capital East Africa is shutting down its fund management business in a move that will see one of the most prolific names at the Nairobi Securities Exchange bow out. In a Kenya Gazette notice on Friday, the Capital Markets Authority (CMA) said Kestrel […]
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