The private sector has been urged to take seriously the risk of a likely water crisis in Nairobi to avoid the experience of Cape Town, South Africa, whose taps almost ran dry in 2018. A breakfast event co-hosted by the Upper Tana Nairobi Water Fund Trust (UTNWFT) – a conservation charitable trust and the Nairobi […]
Foreign investor outflows at the Nairobi Securities Exchange (NSE) #ticker:NSE slowed down in 2021, offering hope of a recovery in the market going forward although political headwinds in 2022 remain a risk. Net foreign sales at the bourse stood at Sh12.4 billion in 2021, more than half the record outflows of Sh28.63 recorded in 2020. […]
Nairobi, Kenya, Jan 3 – The Capital Markets Authority (CMA) has issued the Fourth Edition of the Report on the State of Corporate Governance for Issuers of Securities to the Public in Kenya. The report is for the financial year 1 July 2020 to 30 June 2021. The annual publication outlines CMA’s independent assessment of […]
•According to KNBS, the education sector had the biggest impact, accounting for about 64.7 per cent of the growth. •Accommodation and food serving activities accounted for 24.8 per cent, transportation (13%) financial, insurance activities (6.7%) and manufacturing 9.5 per cent. Education and transport are among key sectors that helped economic growth in Kenya, latest data […]
The International Finance Corporation (IFC) is set to lend the Kenyan banking subsidiary of Equity Group #ticker:EQTY $165 million (Sh21.1 billion), marking one of the largest single credit facilities to a local lender. The proposed investment disclosure comes as the global financier also moves to acquire a 6.7 percent stake in the Nairobi Securities Exchange […]
Seven chief executives joined corner offices at Nairobi Securities Exchange #ticker:NSE -listed firms in 2021, filling vacancies that were created by various circumstances. The companies that made substantive or temporary CEO appointments include Britam Holdings #ticker:BRIT , East African Portland cement #ticker:PORT and BOC Kenya #ticker:BOC . Others were Kenya Power #ticker:KPLC, Nairobi Business Venture […]
Assets held by the Uganda NSSF as at September 2021 stood at $4.4 billion. PHOTO | FILE The total assets held by Uganda’s pension industry grew by 3.4 percent to $5.17 billion between July and September 2021, amid a drop in contributions and investment incomes. The current value of local pension assets is less than […]
The year 2021 was characterised by new significant deals across the corporate sector after a lull induced by the Covid 19 pandemic. The merger and acquisitions activity cut across key sectors including financial services, real estate, telecommunication and agriculture. Some of the key ones included: Unga Group sells Ennsvalley Bakery to logistics company Unga Group […]
NCBA Bank Kenya #ticker:NCBA has lent Kenya Power #ticker:KPLC Sh6.75 billion, becoming the largest local lender to the electricity distributor by taking over the company’s overdraft facilities. The Nairobi Securities Exchange-listed bank provided the 12-year loan on October 9, 2020. Details of the loan are disclosed in Kenya Power’s annual report for the year ended […]
Insurance firm Britam Holdings #ticker:BRIT is set to raise Sh13.9 billion from the sale of 253.1 million shares of Equity Group Holdings #ticker:EQTY to the International Finance Corporation (IFC). Sources familiar with the transaction told Business Daily that IFC will acquire the shares at a price of Sh55 each based on negotiations with the insurer. […]
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