Business The company debts with a range of creditors, including local commercial banks. The Tanzanian unit of Kenya’s ARM Cement has been sold to China’s Huaxin Cement company, its administrator PricewaterhouseCoopers and Huaxin said yesterday, paving way for completion of one of its production plant. Huaxin would inject $116 million (Sh12.2 billion) into the unit, […]
(Adds details of the deal, background) NAIROBI, May 20 (Reuters) – The Tanzanian unit of Kenya’s ARM Cement Plc has been sold to China’s Huaxin Cement company, its administrator PricewaterhouseCoopers and Huaxin said on Wednesday, paving way for completion of one of its production plant. Huaxin would inject $116 million into the unit, Maweni Limestone […]
(Adds details of the deal, background) NAIROBI, May 20 (Reuters) – The Tanzanian unit of Kenya’s ARM Cement Plc has been sold to China’s Huaxin Cement company, its administrator PricewaterhouseCoopers and Huaxin said on Wednesday, paving way for completion of one of its production plant. Huaxin would inject $116 million into the unit, Maweni Limestone […]
Business The company debts with a range of creditors, including local commercial banks. The Tanzanian unit of Kenya’s ARM Cement has been sold to China’s Huaxin Cement company, its administrator PricewaterhouseCoopers and Huaxin said yesterday, paving way for completion of one of its production plant. Huaxin would inject $116 million (Sh12.2 billion) into the unit, […]
Investors are looking for companies that will be accountable and transparent. FILE PHOTO | NMG Over the years, there has been intentional effort in enhancing corporate governance in companies, not just in Kenya but worldwide and especially where investors are involved. Corporate governance in Kenya has evolved as witnessed through recent regulations and judicial rulings […]
NAIROBI, May 21 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – GLOBAL MARKETS Asian shares stepped back slightly and U.S. stock futures fell on Thursday as lingering caution about the long-term impact of the coronavirus […]
(Adds Affirma Capital, Bunge; Updates Fiat Chrysler) May 20 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday: ** Bunge’s Brazil unit has signed a contract to acquire two soy crushing plants from Imcopa, according to a statement sent to Reuters, marking another step to consolidate its position […]
Bamburi Cement plant in Mombasa. FILE PHOTO | NMG Cement consumption recovered from a dismal run to a surprise 17-month-high in January, taking pressure off manufacturers of the commodity who have been increasing production capacity over the years. Data from the Kenya National Bureau of Statistics (KNBS) shows that January consumption hit 528,904 tonnes, marking […]
Nakumatt Holdings’ administrator, PKF Kenya, has earned Sh30.7 million for managing the retailer since its appointment on January 22, 2018. Administrators’ fees are among the priority payments when a company collapses. PKF tried to save Nakumatt as a scaled-down retailer but its debt load provided little wiggle room, with the administrator opting to liquidate the […]
Bamburi Cement plant in Mombasa. FILE PHOTO | NMG Kenya’s cement exports to East African markets suffered a 67.9 percent slump in the first nine months of 2019, largely blamed on increased production capacity in the region amid a general economic slowdown. Data from the Kenya National Bureau of Statistics (KNBS) shows that Kenyan cement […]
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