I&M Holdings, a Nairobi Securities Exchange-listed firm has stormed into the Ugandan financial market in style by acquiring a 90% stake in Orient Bank Limited, Taarifa reliably reports. “This acquisition is expected to give the group greater capacity to grow profitably, through extending our network to our regional customers,” I&M’s executive director Sarit Raja Shah […]
Kenya Airways #ticker:KQ has revealed the terms of an Sh11 billion loan it took from the government in the year ended December to fund its operations at a time the Covid-19 pandemic had hurt its cash flows. The airline took the debt in two tranches of Sh5 billion followed by Sh6 billion. The Sh5 billion […]
I&M Holdings #ticker:I&M has completed the acquisition of a 90 percent stake in Uganda’s Orient Bank Limited in a deal worth Sh3.6 billion. The Nairobi Securities Exchange-listed firm said in a statement that the transaction was completed on April 30 after receipt of the necessary approvals from the Central Bank of Kenya, Bank of Uganda, […]
The financial crisis that has engulfed Spire Bank requires swift intervention from the Central Bank of Kenya (CBK) to avoid fears over the health of Kenya’s banking sector. Over the last couple of years, Spire Bank’s accumulated losses of up to Sh8.4 billion have wiped out shareholder funds, which now stand at negative Sh1.8 billion. […]
Mr Paul Russo. FILE PHOTO | NMG The transformation going on at the National Bank of Kenya is an interesting study on how to execute bank turnarounds. We must not forget that several past attempts to change the fortunes of the bank through expensive State-funded bailouts yielded zilch. So, when I met the managing director […]
The global impact of coronavirus menace, especially the sudden shock to economies, has been unprecedented in recent history. The severe effect and prolonged spell of the pandemic paints a gloomy picture. With different policies undertaken to ensure speedy rebound of economies and markets, we are likely to see positive recovery despite new waves of the […]
Parastatals, public universities and counties will now be required to disclose loans every three months in a deal between the Treasury and the International Monetary Fund (IMF) aimed at enhancing transparency in the size and management of public debt. The Treasury adopted a recommendation by the IMF to expand coverage of public debt to include […]
Mr Paul Russo. FILE PHOTO | NMG The transformation going on at the National Bank of Kenya is an interesting study on how to execute bank turnarounds. We must not forget that several past attempts to change the fortunes of the bank through expensive State-funded bailouts yielded zilch. So, when I met the managing director […]
The global impact of coronavirus menace, especially the sudden shock to economies, has been unprecedented in recent history. The severe effect and prolonged spell of the pandemic paints a gloomy picture. With different policies undertaken to ensure speedy rebound of economies and markets, we are likely to see positive recovery despite new waves of the […]
THE week that ended on 16th April 2021 was an eventful week which saw the major indices go in different directions. The Tanzania Share Index (TSI) dropped by 14.61 points after a movement on five counters with the bear having an upper hand. The prices of DSE and NICOL went up by 3.77 per cent […]
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