Airtel Uganda paid the Ugandan government $77.79 million to renew its 20-year licence, its latest financial report shows. The company also borrowed $4 million from Standard Chartered Bank to pay for its licence renewal in October 2020, the new disclosures in its full financial year ending March 2021 show. This comes as the parent company, […]
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 […]
Dar es Salaam. When the year 2021 started, a share of the Tanga Cement Company Ltd (TCCL) at its Dar es Salaam Stock Exchange (DSE) trading counter was selling at Sh500. At the close of the year, the same share was being sold at Sh1,100, more than twice as much in value. The appreciation in […]
The Nairobi Securities Exchange (NSE) opened the year on the up in Monday’s trading, largely buoyed by a gain in the Safaricom #ticker:SCOM stock. The telco, which accounted for 57 percent traded turnover at the market Monday, saw its price rise by Sh0.20 to Sh38.15 on the back of high demand by foreign investors. Other […]
Kenya Airways (KQ) will resume flying to Khartoum nearly two years after suspending flights to Sudan. Last Friday, KQ launched direct flights from South Sudan capital Juba to Khartoum in Sudan as it eyes Africa expansion. The national carrier said the new flight will originate from the Jomo Kenyatta International Airport (JKIA) in Kenya’s capital […]
A promotional poster of Switch TV’s new presenter lineup. Switch TV is making a radical change in its business model that will see it transition from on-air to digital broadcast. The media house stated that it will be ceasing on-air broadcast operations. In a statement dated Friday, December 10, the media group Chairman, Sahil Shah, […]
Nation Media Group #ticker:NMG held a glamourous brunch on Saturday to celebrate Top 40 Under 40 Women finalists. Now in its 13th year, the Top 40 Under 40 project honours outstanding women in different spheres of the economy from sports, creatives, medicine, law, to social entrepreneurship. The 40 awardees shared the joys, concerns, and anxieties […]
The Capital Markets Authority (CMA) has barred listed firms with negative equity from rolling out share buybacks, locking out cash-strapped companies from the process largely applied to correct perceived undervaluation of stock. The regulator has ruled that directors of the companies which intend to repurchase stock from the market should ensure “assets … are equal […]
By our reporter Nation media Group- NMG Uganda will tomorrow launch a new and refreshed website for its flagship title, the Daily Monitor newspaper as the first of the many steps in the company’s digital transformation journey. The website which will go live at midnight tonight will incorporate content types from across the group’s media […]
The capital markets regulator has capped the price of shares listed firms propose to buy back from market at 10 percent above the weighted value for the month preceding the resolution. The Capital Markets Authority (CMA) has set maximum and minimum share buyback price in new guidelines which are in line the Companies Act, 2015, […]
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