American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy. The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake. “GE […]
Flame Tree Group (FTG) intends to issue a corporate bond to fund growth despite the reduced investor appetite following loss of money in Chase and Imperial bank securities. Chief executive Heril Bangera says in the latest annual report the firm is working on issuing the bond to help the Nairobi Securities Exchange-listed firm grow. Mr […]
Billionaire investor Chris Kirubi. FILE PHOTO | NMG Billionaire investor Chris Kirubi is yet to start buying additional shares in Centum Investment Company after announcing on March 23 that he would spend about Sh2.7 billion to acquire an extra 20 percent stake in the company. August regulatory filings show that the businessman still maintained a […]
Centum’s chief executive James Mworia. FILE PHOTO | NMG Centum Investment Company is selling land and property valued at Sh12 billion to reduce its exposure to the real estate market which has risen to represent 65 percent of its total assets in the year ended March. The company says in its latest annual report that […]
Businessman Chris Kirubi has received an additional Sh348 million as part of his staggered payment following the sale of his BIC stationery, lighters and shavers franchise to French multinational Société BIC, which owns the brand. Mr Kirubi, through his manufacturing unit Haco Industries Kenya Limited, was paid an initial Sh703 million in the deal which […]
Chief executive at Centum James Mworia. FILE PHOTO | NMG Centum Investment is preparing for reduced dividend payout from its portfolio companies such as Longhorn Publishers as they step up cash preservation measures in the prevailing Covid-19 environment. Chief executive at Centum James Mworia says in the latest annual report that Covid-19 has hurt the […]
Centum Investment Company CEO James Mworia at a past results briefing. FILE PHOTO | NMG Centum Investment Company agreed to compensate the buyer of its Coca-Cola beverage businesses to the tune of $34.4 million (Sh3.7 billion) representing tax demands by the Kenya Revenue Authority (KRA). The Nairobi Securities Exchange-listed firm sold its stakes in Almasi […]
Centum Investment CEO James Mworia. FILE PHOTO | NMG Centum Investment real estate arm has launched a Sh7 billion real estate project to construct apartments in Kasarani, Nairobi. The firm said Monday that the project involves 268 units dubbed ‘265 Elmer One Apartments’ as it eyes to attract house seekers in the area that is […]
The top gainer of the day on Tuesday at the Nairobi Securities Exchange (NSE) was Standard Group who jumped from the top losers’ table on Monday. The company gained 9.85 percent at the price of 22.30 shillings per share. The second top gainer on Tuesday was Sasini who went home with 9.71 percent at the […]
Capital Markets Authority regulatory and policy director Luke Ombara. PHOTO | SALATON NJAU | NMG The Capital Markets Authority (CMA) plans to form a credit guarantee scheme to help small and medium-sized (SMEs) firms raise money without exposing investors such as bondholders to losses. Director of policy and regulation at CMA Luke Ombara said in […]
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