The government took a huge tax hit between April and June as bars and other entertainment venues were shut to contain the spread of the coronavirus disease. Data from the Treasury shows the taxman lost Sh16.8 billion in excise taxes, commonly referred to as sin taxes as they are levied on products like beer, cigarettes […]
Old cars in a yard awaiting auction. Auctioneers say they have experienced a dry spell as there are few takers of repossessed assets. Timothy Owuor, a Nairobi-based auctioneer, looks at the assortment of items on his yard and nostalgically remembers years past, when such a trove would fetch him millions in just a few hours. […]
NCBA Group chief executive John Gachora during a December 2019 interview. FILE PHOTO | NMG Banking group NCBA is set to redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date, a move that will see it save Sh222.5 million in interest expenses. The Nairobi Securities Exchange-listed firm says […]
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 […]
Uganda Security Exchange (USE) has posted the worst performances in over four years with turnover grossing a 70 per cent drop. In the second quarter of 2020, turnover dropped to Shs2.25b compared to Shs25.61b in the same period last year. The drastic drop, according to a report by USE, was attributed to withdrawal of international […]
EABL CEO Andrew Cowan The East African Breweries Limited (EABL) has recorded a 9 per cent decline in net sales for the financial year ended 30 June 2020, as the first half growth of 10 per cent was offset by a 29 per cent decline in the second half. The company attributed the second half […]
The beer-maker has started packaging its bottled beer brands in carton packs of six to allow customers buy as take-away and return bottles once they finish consuming. FILE PHOTO | NMG East African Breweries Limited (EABL) is banking on new model of packaging bottled alcohol to allow customers buy in bulk and consume from home […]
Nairobi securities Exchange (NSE) trading floor (BEVERLYNE MUSILI) NAIROBI, KENYA : The Nairobi Securities Exchange has reviewed the constituent counters of its NSE 20 and 25 Share Index, with effect from April 3. The review of the NSE 20 share index incorporates the inclusion of Kenya Reinsurance Corporation Limited, NIC Group Plc and Nairobi Securities […]
British drinks group Diageo, the maker of Guinness stout and Smirnoff vodka, on Tuesday said falling-out from the coronavirus pandemic cut its annual profits by more than half. PHOTO | FILE London British drinks group Diageo, the maker of Guinness stout and Smirnoff vodka, on Tuesday said falling-out from the coronavirus pandemic cut its annual […]
THE East African Breweries Limited (EABL) market in Tanzania grew to double digit in the first six month of this year despite coronavirus pandemic, while dropped in Kenya and Uganda. The Tanzania market climbed up to 14 per cent compared to Kenya and Uganda that registered decline by 14 per cent and 5 per cent, […]
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