A Jamii Bora Bank branch. FILE PHOTO | NMG Co-op Bank intends to make additional capital investment in Jamii Bora Bank once it completes purchasing a controlling 90 percent stake in the small lender at a cost of Sh1 billion. Jamii Bora’s chief executive Timothy Kabiru disclosed the plans in response to queries raised by […]
The top loser of the day on Tuesday at the Nairobi Securities Exchange (NSE) was the Standard Group. The company lost 9.84 percent at the price of 22.45 shillings per share. Eveready East Africa was the second top loser with 7.48 percent at the price of 0.99 shillings per share followed by Sanlam Kenya with […]
The market data shows that among actively traded stocks, 27 or 47 per cent of the companies registered gains while 30 or 53 per cent posted losses. FILE PHOTO | NMG Troubled Kenya Airways leads a group of loss-making companies to emerge with the best stocks from a period when the country imposed tight coronavirus […]
First, Uchumi Supermarkets shut its doors. It was closely followed by Nakumatt and now the walls are slowly closing in on the Tuskys Supermarket chain. The troubled retail market has seen jobs losses, pay cuts and reduced incomes amid desperate efforts to save cash. The current crisis brought about by Covid-19 has not helped the […]
One of Uchumi supermarket shops. Photo / JOHN CHESOLI Uchumi Supermarkets Plc has received a boost in its recovery efforts after the High Court’s Commercial Division approved the Company’s Voluntary Arrangement. The CVA was adopted at the creditors’ meeting on March 2. The High Court’s ruling delivered on July 1 gives Uchumi the go-ahead to […]
Stock Market DESPITE a 41 percent reduction of the weekly equity turnover, activities on the market are still higher than most recent weeks before the last. Pre-arranged block transactions still account for a major share of activities, on a few large counters. Equity turnover realized during the week totals to TZS 3.36bln ($1.46mln) compared to […]
Customers shop at a QuickMart branch on Mfangano Street in Nairobi on June 6. PHOTO | SALATON NJAU | NMG QuickMart Supermarket plans to open a new store in Nyayo Estate, Embakasi, next month as leading players are riding through a rough patch. The announcement comes after the retailer opened its 32nd store in Kilimani […]
Co-operative Bank Group MD and CEO Gideon Muriuki at a past investor briefing event. Co-operative Bank posted a profit of Sh11.4 billion. Jamii Bora Bank investors have unanimously accepted Co-operative Bank’s offer to acquire 90 per cent for Sh1 billion at the lender’s Annual General Meeting held Wednesday. This will be through the subscription of […]
The fall of Nakumatt has to be one of the best-known sagas in the Kenyan retail landscape, as well as that of East Africa as a whole. But while the curtain is gradually drawn on the former retail giant’s stage play, another homegrown brand is struggling with similar problems. Uchumi, a Nairobi Securities Exchange-listed firm, […]
The top gainer of the day on Monday at the Nairobi Securities Exchange (NSE) was Standard Group with 9.79 percent at the price of 24.10 shillings per share. Kenya Re-Insurance was the second top gainer of the day with 9.00 percent at the price of 2.18 shillings per share followed by Uchumi Supermarket with 5.71 […]
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