The government’s earnings from public investments surpassed the target for the year ended June 2021 by Sh3.7 billion, reflecting higher levels of dividend payouts than the National Treasury had projected. A latest exchequer report shows that income from dividends and other profit —wired by parastatals, state agencies as well as quoted and private firms where […]
Seven chief executives of Nairobi Securities Exchange-listed firms have served for more than 15 years and are expected to extend their tenure in a market where on average top managers don’t serve in excess of a decade. Flame Tree’s #ticker:FTGH founder, Heril Bangera, has the longest run of 32 years, followed by Car & General’s […]
Starting November 14, 2021, Safaricom will have the right to use funds held in M-Shwari and KCB M-Pesa accounts to offset Fuliza loans The banks reserve the right to not give any notice prior to withholding or recovering the outstanding loans Kenyans borrowed KSh 220.38 billion in the first six months of 2021, up from […]
According to Orbit Securities’ weekly market report for a period ending October 8, 2021, a total of 3,589,772 shares were traded on the bourse during the course of the week as compared to 686,039 shares traded in the previous week. “CRDB was this week’s top mover, accounting for 54.856 percent of the turnover,” the report […]
Last week the Green Climate Fund (GCF) approved a climate adaptation project on enhancing community resilience and water security in the upper Athi River Catchment Area, Kenya, worth $10 million. The project is under National Environmental Management Authority (Nema) which is a GCF accredited entity in the public sector in Kenya. The upper Athi project […]
Customer deposits in mobile phone account M-Shwari hit Sh571.1 billion as Kenyans increasingly turned to the service for savings and borrowing. The deposits, which rival savings held in top banks, rose 78.5 percent from Sh320 billion reported the previous year. The growth means that Kenyans on average deposited Sh687.95 million daily in their M-Shwari savings […]
Mumias Sugar company [Photo/Courtesy] Former military man Julius Mwale has offered Ksh27.6 billion in a bid to acquire struggling Mumias Sugar Company, dwarfing offers by businessman Narendra Raval and the Rai family. Raval through Devki Group had offered Ksh8.4 billion while the Rai family through West Kenya Sugar had offered Ksh3.5 billion. Tumaz and Tumaz […]
Rwanda targets to double agriculture sector lending from the current 5.2 per cent of the total share of loans from financial institutions to 10.4 per cent by 2024. The goal is to modernise the sector, which currently accounts for nearly a third of the country’s gross domestic product (GDP). The share of loans to agriculture […]
Controversial businessman Julius Mwale has placed the highest bid of Sh27.6 billion for the leasing of Mumias Sugar, trouncing billionaire Rai family and steel tycoon Narendra Raval. Tumaz and Tumaz enterprises, the company associated with the Mwale City investor topped the bids in its offer to run the troubled miller for 20 years. Mr Raval, […]
Everything was dropping on the stock market during the week that ended on the 24th of September 2021, from market capitalization and indices, to the equity turnover and number of deals. While some counters, including TBL and NICOL released half year financial results, but the results of TBL had no impact to entice activities on […]
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