Investors at the Nairobi Securities Exchange (NSE) will have to wait longer to know the fate of their funds locked in firms suspended from trading. According to the Capital Markets Authority’s (CMA) quarterly report for the three months ending June this year, a total of six companies out of the 64 listed ones remain suspended […]
The Nairobi Securities Exchange ( NSE ) Limited revenue from annual listing fees has dipped to a six-year low, highlighting the impact of delistings and suspensions at the bourse. NSE’s latest report shows the annual listing fee in the year ended December dropped by 6.82 per cent to Sh76.06 million compared to Sh81.62 million earned […]
In a statement, Chinese based Huaxin Cement which acquired Maweni in May, said upgrading work of the kiln line started in June although only 14 Huaxin Cement management team members remained in the country due to the company withdrawing staff to China prior to the coronavirus lockdown. Huaxin Cement said that it will not upgrade […]
Rwanda’s newest cement grinding plant is set to start commissioning at a great time. Last week Milbridge Group subsidiary Prime Cement said that its 0.6Mt/yr grinding plant in Musanze, Northern Province was preparing to start up in August 2020. This week the main local producer, Cimerwa, announced that it was setting standardised cement prices in […]
Nairobi Securities Exchange CEO Geoffrey Odundo. PHOTO | SALATON NJAU | NMG The Nairobi Securities Exchange (NSE) Limited revenue from annual listing fees has dipped to a six-year low, highlighting the impact of delistings and suspensions at the bourse. NSE’s latest report shows the annual listing fee in the year ended December dropped by 6.82 […]
The Chinese cement producer will invest the U$116 million into Maweni Limestone to settle its liabilities while another U$30 million will be used to complete plant construction and an upgrade. ARM Cement operates an integrated plant at Tanga and a grinding plant at Dar es Salaam. The agreement dates back to September 2019 when it […]
The firm will spend Sh100mn in expansion/CFM NAIROBI, Kenya, June 6 – Paint and coating solutions company Crown Paints has received an approval by Capital Markets Authority to extend time to file its audited financial statements for the year ended December 31 2019. The listed paint maker in a statement said it missed the May […]
Nairobi — Debt-ridden East African Cables has announced that there will be a delay in the publishing of the audited financial statement for the year ending December 31, 2019. In a statement, the Group’s Company Secretary Virginia Ndunge said the firm has already obtained approval from the Capital Markets Authority granting it the extension. Ndunge […]
Business The company debts with a range of creditors, including local commercial banks. The Tanzanian unit of Kenya’s ARM Cement has been sold to China’s Huaxin Cement company, its administrator PricewaterhouseCoopers and Huaxin said yesterday, paving way for completion of one of its production plant. Huaxin would inject $116 million (Sh12.2 billion) into the unit, […]
(Adds details of the deal, background) NAIROBI, May 20 (Reuters) – The Tanzanian unit of Kenya’s ARM Cement Plc has been sold to China’s Huaxin Cement company, its administrator PricewaterhouseCoopers and Huaxin said on Wednesday, paving way for completion of one of its production plant. Huaxin would inject $116 million into the unit, Maweni Limestone […]
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