An employee makes notes in front of an electronic stock information screen inside the Nairobi Securities Exchange Ltd. (NSE), in Nairobi, 2015.[Riccardo Gangale/Bloomberg] For investors, Mwai Kibaki’s transformative ideas in the capital markets between 2002 and 2013 will surely outlive him. President Kibak i was many things to different people, but an admirable economist to […]
Friendship: Chinese President Xi Jinping (R) meets with Kenyan President Uhuru Kenyatta in Beijing on May 15, 2017 . (Xinhua/Pang Xinglei) In our second of a four-part series, we look at President Uhuru Kenyatta’s efforts to secure more Chinese funding for the extension of the Standard Gauge Railway and the attendant blessings and curses that […]
Of all President Kenyatta’s flagship projects, it is the SGR that will define his legacy. In April 2019, a year after President Uhuru Kenyatta and former Prime Minister Raila Odinga reached a truce with the famous handshake, the two travelled to Beijing, China, and there were great expectations. They were not as enthusiastic when they […]
In this second part of the series on the assessment of President Uhuru Kenyatta and Deputy President William Ruto administration, writer Dominic Omondi looks in to Kenya’s debt burden, and how the amount of loans grew after the dalliance with China started. In April 2019, a year after President Uhuru Kenyatta and former Prime Minister […]
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 […]
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