The revelation that 97 percent of stock trading accounts have been dormant for years should spur regulators and other stakeholders in the capital markets into action. It speaks to widespread investor apathy that comes on the back of disappointing returns, a major part of which can be traced to poor corporate governance among some 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 […]
In a ruling made on Tuesday evening, the judge said interim orders will stay in place until March 14, when the matter comes up for hearing/FILE NAIROBI, Kenya, Jan 26 – The High Court has extended orders barring Ugandan company, Sarrai Group, from taking over operations of Mumias Sugar Company pending the determination of the […]
Kenya Airways (KQ) plane at Jomo Kenyatta International Airport (JKIA). Loss-making Kenya Airways (KQ) tops in Sh38.35 billion bailout unveiled yesterday to support struggling state-owned enterprises. Treasury is seeking parliamentary clearance to support KQ, Kenya Power and universities such as the University of Nairobi, which have been facing cash flow problems. If approved by Parliament, […]
Troubled Mumias Sugar Company has become the new battleground among the feuding billionaire Rai brothers after Jaswant Singh Rai, the chairman of Rai Group, joined other bidders to try to wrest a lucrative leasing contract from his younger sibling –Sarbi Singh Rai. The rift in the Rai family became public last year when a case […]
Tycoon Jaswant Rai. FILE PHOTO | NMG Billionaire Jaswant Rai lost a bid to lease ailing Mumias Sugar Company on account of his dominance in the sugar sector, the receiver manager has said. In his defence on why he awarded the lucrative tender to Uganda’s Sarrai Group, KCB’s receiver-manager Ponangipalli Rao says in court documents […]
Duty-free sugar is offloaded at the port of Mombasa from the Comesa region. The Naitiri sugar plant, belonging to Kenya’s Rai family, is set to start operations soon. PHOTO | FILE The family is set to start operations of the Naitiri Sugar plant as an extension of West Kenya Sugar Company, with a production capacity […]
Businessman Julius Mwale. [Courtesy] Forget getting bankrupt Mumias Sugar Company out of the intensive care unit – that will be the easier part for businessman Julius Mwale. In court documents, the flashy investor told the KCB Group-appointed receiver manager Pongangipalli Venkata Ramana Rao that if given the opportunity to lease the assets of the sugar […]
Airtel Kenya is surviving on a series of shareholder loans from its parent company, most of which it is unable to service, its financial filings show. Kenya’s second-biggest telco has revealed that the shareholder loans from its holding firm Bharti Airtel Kenya BV shot up to Ksh52.2 billion ($460.9 million) in the year ended December […]
An Airtel shop. Airtel Kenya is surviving on a series of shareholder loans from its parent company, records show. PHOTO | FILE | NMG Kenya’s second-biggest telco has revealed that the shareholder loans from its holding firm Bharti Airtel Kenya BV shot up in the year ended December 2020. These shareholder funds, Airtel said, are […]
The value of investments can go down in value as well as up, so you could get back less than you invest. Past performance does not necessarily indicate a financial product’s future performance. This website aims to provide information to help you make your own informed decisions. Our publications, ratings and analysis should be viewed as an additional investment resource, not as your sole source of information. This website does not provide personal advice based on your circumstances. To obtain advice tailored to your situation, please contact a professional financial adviser.