Kenya which had for over a decade blocked Uganda’s sugar from accessing its market including recurrent disputes over cross border trade and protectionism, the unthinkable has happened. Details reaching Taarifa Business desk indicate that Kenya’s troubled Mumias Sugar company has been leased to a Ugandan firm triggering tough protests from local Kenya bidders. Two firms […]
Britam Holdings has sold Sh12.2 billion worth of shares in leading Kenyan lender Equity Group to the International Finance Corporation (IFC). The deal, revealed through a regulatory notice by Equity Group Holdings (EGH), now gives the investment arm of the World Bank a 6.7 per cent share of the lender. “EGH was notified that on […]
The year 2021 was characterised by new significant deals across the corporate sector after a lull induced by the Covid 19 pandemic. The merger and acquisitions activity cut across key sectors including financial services, real estate, telecommunication and agriculture. Some of the key ones included: Unga Group sells Ennsvalley Bakery to logistics company Unga Group […]
Two firms that placed the highest financial bids for leasing troubled Mumias Sugar have protested the move by KCB receiver manager to award the tender to a Ugandan company, arguing evaluations on technical capacity should have been done by a third party. Kruman-Finances and Tumaz & Tumaz now argue that Sarrai Group –which runs three […]
Men hold flags of the Democratic Republic of Congo and Kenya, near an airplane belonging to the Kenyan budget airline Jambojet, during the launch of a new flight to the Eastern DRC city of Goma, at the Jomo Kenyatta International Airport (JKIA) in Nairobi, Kenya, September 10, 2021. REUTERS/Edwin Waita Kenya is intensifying its investment […]
The High Court has temporarily stopped the liquidation of collapsed Imperial Bank after billionaire businessman Ashok Doshi and his wife Amit sued over their Sh1 billion deposit. Justice John Onyiengo, sitting in Mombasa, issued the order suspending the Central Bank of Kenya’s (CBK) order to the Kenya Deposit Insurance Corporation (KDIC) to wind up the […]
The year 2021 was characterised by new significant deals across the corporate sector after a lull induced by the Covid 19 pandemic. The merger and acquisitions activity cut across key sectors including financial services, real estate, telecommunication and agriculture. Some of the key ones included: Unga Group sells Ennsvalley Bakery to logistics company Unga Group […]
Banks will seek to lobby the Central Bank of Kenya (CBK) to reinstate charges on customers’ transfer of money from bank accounts to mobile money wallets. The lenders have witnessed a fall in fees and commissions from such transactions and eye the end of the freeze to rev up non-interest income. The Kenya Bankers Association […]
Two firms that placed the highest financial bids for leasing troubled Mumias Sugar have protested the move by KCB receiver manager to award the tender to a Ugandan company, arguing evaluations on technical capacity should have been done by a third party. Kruman-Finances and Tumaz & Tumaz now argue that Sarrai Group –which runs three […]
A Ugandan firm that won the lucrative bid to lease Mumias Sugar Company might not savour its victory yet after a case was filed in court yesterday to challenge the contract. Barely a day after Sarrai Group was announced as the winner of the 20-year lease, Tumaz and Tumaz Enterprises Ltd , a firm associated […]
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