Shutterstock photo NAIROBI, July 22 (Reuters) – Kenya’sEast African Cables and its parent firm TransCentury Ltd have completed a debt restructuring deal that has reduced the group’s debt by almost half, they said on Monday. TransCentury, which was founded by a group of Kenyan investors in 1997, invested in a range of infrastructure companies, including […]
Tag: east african cables
TransCentury, EA Cables say complete debt restructuring
The East African Cables plant in Industrial Area. PHOTO | DIANA NGILA | NMG East African Cables and its parent firm TransCentury Ltd have completed a debt restructuring deal that has reduced the group’s debt by almost half, they said on Monday. TransCentury, which was founded by a group of Kenyan investors in 1997, invested […]
TransCentury now eyes rebound after era of financial turbulence
TransCentury CEO Nganga Njiinu during the Interview with The Standard at his offices ,WestEnd Towers,Nairobi. Ten years ago, TransCentury used to run the show. It was managing mega projects in Kenya and across the region. It acquired a stake in Civicon, an engineering firm with significant contracts with players in the nascent oil sector. The […]
Consolidated Bank embarks on debt restructuring
consolidated bank Lenders of Consolidated bank and the East African Cables will have to wait longer for the full repayment of their debts. East African Cables and it’s parent company have announced a debt restructuring deal that pushes the maturity of its 3.5 billion shillings debt by ten years. Consolidated Bank has announced that maturity […]
EA Cables narrows loss to Sh568 million
Workers at East African Cables plant in Industrial Area, Nairobi. PHOTO | DIANA NGILA | NMG East African Cables remains insolvent despite restructuring its Sh1.6 billion debt with a two and a half year moratorium on making any payments. The firm has reported a loss of Sh568 million in 2018, having narrowed its losses from […]
TransCentury improves performance despite tough financial year
TransCentury chairman Zephaniah Mbugua (right) shakes hands with former CEO Gachao Kiuna. Photo/File Listed firm, TransCentury narrowed its losses by 19.1 per cent to Sh3.5 billion in 2018 from Sh 4.3 billion in 2017. Even so, total revenue collected dropped by 25 per cent to Sh4.2 billion during the period under review from 5.7 billion […]
TransCentury, EA Cables restructure Sh1.6 billion debt
Workers at East African Cables plant in Industrial Area, Nairobi. PHOTO | DIANA NGILA | NMG Investment firm TransCentury has restructured debt worth Sh1.6 billion owed by its subsidiary East African Cables. In a joint statement, the companies said they had made a series of changes in EA Cables’ liabilities without giving specific details, including […]
Governments’ support, war on illicit trade to help E.A Cables bounce back
NAIROBI, KENYA, AUGUST 27 —Regional cable manufacturer – East African Cables Limited is counting on the regional governments’ support for local manufacturing to continue providing opportunities, as it realigns its business to return to profitability. This comes as the company continues to wade in losses which widened 30.6 per cent to Ksh303.4 million in the […]