CMA bars ailing companies from share buybacks

CMA bars ailing companies from share buybacks

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 […]

CMA bars ailing companies from share buybacks

CMA bars ailing companies from share buybacks

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 […]

Deacons East Africa’s 60-Year Story Has Been Truncated By A Familiar Retail Glitch

Deacons East Africa’s 60-Year Story Has Been Truncated By A Familiar Retail Glitch

Pullouts, shutdowns and divestments are almost becoming the new norm for retail chains across Africa, most especially in the eastern part of the continent . The latest in the fold is Deacons East Africa, a fashion brand that has operated in East Africa for up to 60 years. Possible Liquidation The fashion and clothing retailer […]

Africa: Logistics Firm Bwala Africa Secures Sh10m Financing to Expand Fleet

Africa: Logistics Firm Bwala Africa Secures Sh10m Financing to Expand Fleet

Nairobi — Automobile and logistics firm Bwala Africa has secured Sh10 million financing from Stanbic Bank to venture into last mile logistics. Bwala Africa Group, a last mile logistics marketplace launched early this year to solve challenges facing fleet owners on a daily basis has recorded over 6000 deliveries in Nairobi and secured debt financing […]