KEY POINTS Uchumi Supermarket was the top loser after shedding off 9.09 percent at the price of 0.20 shillings per share followed by Sasini and Trans-Century with a loss of 5.61 and 4.31 percent at the price of 20.20 and 1.11 shillings per share. Top Gainers The top gainer of the day at the Nairobi […]
The decline of big names such as Uchumi, Kenya Airways, East African Cables, East African Portland Cement and Mumias Sugar was the first sign of struggle in corporate Kenya. [File, Standard] An increase in the number of financially crippled corporates is the new headache for banks, with some lenders in court battles to recover billions […]
The late Billionaire businessman Naushad Merali. [Courtesy] Naushad Merali, the billionaire businessman who died last July, wanted to have his cake and eat it too. And he succeeded. But in the process, Merali ended up eating the homework in the sale of Spire Bank, formerly known as Equatorial Commercial Bank (ECB), to Mwalimu Sacco, the […]
Over a round of golf one afternoon in 1995, four entrepreneurs began discussing how to pool resources to pursue business opportunities. A tide of change was sweeping the country with the introduction of multi-party politics and a new regime, and an optimistic millennium was on the horizon. Their target was to raise Sh50 million. But […]
East African Cables has posted a loss of Ksh. 753.2 Million at the end of the financial year ended 31st December, 2020. This is a sizable loss compared to a Net Profit of Ksh. 630.9 Million recorded during a similar period in 2019. The company also sunk into a Pre-tax loss of Ksh. 555.1 Million […]
Delegates during a Kenya Reinsurance Corporation (Kenya Re) investors briefing on August 2, 2019. FILE PHOTO | SALATON NJAU | NMG Five Nairobi Securities Exchange (NSE)-listed firms have announced delaying the release of their full-year results citing the need for more time to complete audit processes. Kenya Reinsurance Corporation (Kenya Re) is the latest company […]
It was a terrible last week for chief executive officers of listed companies some having to pose before cameras to reveal losses in billions of shillings offering a glimpse into the gravity of Covid-19 on corporate Kenya. As companies rushed to beat the April 30 reporting deadline, it emerged that corporate Kenya has booked losses […]
Amref Sacco staff when they celebrated 35th anniversary. PHOTO | POOL Before last year, Amref Sacco was a tier three scheme because its asset value was below the Sh2 billion threshold. But the Sacco has now achieved the milestone of a tier two status after its assets grew to hit Sh2.2 billion. The Sacco’s journey […]
KEY POINTS Safaricom is still the top mover of the day after selling 14.32 million shares followed by Equity Group with 5.83 million shares. Kenya Power and Kenya Re-Insurance sold 755,500 and 432,800 shares respectively. The top gainer of the day (Wednesday, January 27, 2020) was Centum Investments Limited with 5.92 percent at the price […]
The Co-operative Bank of Kenya has become the sixth lender to issue a profit warning on expected 2020 earnings. In a notice to shareholders on Friday, the bank attributed the expected collapse in earnings to economic disruptions arising from the COVID-19 pandemic. The volatile operating environment has seen the lender raise its loan-loss coverage in […]
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