CIC Insurance Group Patrick Nyaga (left) having a word with Co-op Bank Chief Executive Gideon Muriuki at a past event. FILE PHOTO | NMG CIC Insurance Group has tied the repayment of a Sh3.4 billion loan from Co-op Bank to sale of 200 acres of land in Kiambu County. The loan was part of the […]
Regional insurer CIC Insurance Group Plc has bounced back to profitability laying the groundwork for ending a two-year dividend drought for shareholders. The turnaround is also expected to bolster the firm’s stock on Nairobi Securities Exchange that is trading as low as Ksh3 ($0.02) per share against a par value of Ksh1 ($0.01) per share. […]
Counties from the tea growing regions in the Rift Valley want multinational tea companies to pay Sh10,000 land rates per acre, up from the current Sh100 they have been paying since 1926. The counties of Nandi, Bomet and Kericho are pushing to have the companies pay more, citing the changing economic times and the profits […]
The US has issued a fresh travel advisory against Kenya in the wake of a surge in Covid-19 cases, dealing a blow to the recovering tourism sector. The US has downgraded Kenya from level two to level three, which requires US citizens to avoid all non-essential travel to a destination and reconsider any planned travel. […]
A worker picks tea. FILE PHOTO | NMG Multinational firms will set a minimum price for their tea at Mombasa Auction to cut losses occasioned by the low cost of the commodity in the market. The Kenya Tea Growers Association (KTGA), an umbrella body for the multinational firms, has written to the East African Tea […]
The price of Kenyan coffee has rallied in the international market after frost damaged the cash crop in Brazil, a top producer. Brazil produces up to 60 million kilos of coffee every year but the harsh weather conditions will see the country lose about 20 percent of the entire crop this season, creating a shortage […]
MultiChoice Kenya has increased DStv charges by up to 6.3 percent to cut rising operation costs. The move is seen as its latest bid to cover rising operating costs as businesses struggle with reduced cash flow, ushering in job cuts and near stagnant pay due to the Covid-19. Customers on the Premium tariff plan will […]
Nairobi Securities Exchange(NSE) recorded Kapchorua Tea Company as the top price gainer when trading ended this Wednesday. Kapchorua share price was up 10% to close at KSh 93.50 per share over the previous closing price of KSh 85.00 on Tuesday 13th, 2021. KAPC began 2021 with a share price of KSh 78.00 and has since […]
Nairobi Securities Exchange(NSE) recorded Kapchorua Tea Company as the top price gainer when trading ended this Wednesday. Kapchorua share price was up 10% to close at KSh 93.50 per share over the previous closing price of KSh 85.00 on Tuesday 13th, 2021. KAPC began 2021 with a share price of KSh 78.00 and has since […]
CiC Insurance Group has announced key changes to the Board of Directors which the insurer says are intended to strengthen the overall Governance and Strategic leadership of the institution. The Board has appointed Nelson Kuria as Chairman, following the retirement of James Magomere who has served as Chairman for 16 years. “Mr Kuria brings a […]
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