File image of a Chase Bank branch. PHOTO| COURTESY Chase Bank, technically referred to as Chase Bank Limited in Receivership (CBLIR), will cease to exist after the approval of its liquidation by the Central Bank of Kenya (CBK) on Friday. The approval of the wind up process is on the recommendation of the Kenya Deposit […]
Technicians repair power lines. FILE PHOTO | NMG Out of the eight independent directors on the board of the electricity utility, Kenya Power, five are women. They have been sitting on the board of the financially troubled firm for just over eight months. Thus, in terms of expanding gender representation on boards of listed companies, […]
Kenya based Danish hair products firm Africanhair PLC, trading as BeautyClick plans to list on the Nairobi Securities Exchange (NSE) to raise new equity for regional expansion. BeautyClick, which Danish investors founded in 2016, said it has started the process of acquiring requisite regulatory approvals for a listing and further capitalisation at the stock market. […]
Nairobi Securities Exchange (NSE) stocks posted the largest weekly loss since the start of the year as investors reacted to fresh lockdown and longer curfew hours introduced to stem the spread of Covid-19 infections. The market capitalisation reduced by Sh89.38 billion, closing Thursday trading at Sh2.468 trillion as Safaricom, East Africa Breweries Limited (EABL) and […]
THE two major indices faced down during the week while the equity turnover significantly rose as pension funds scale up participation in financial markets. The Tanzania Share Index (TSI) dropped by a mere 0.04 point to close the week at 3,518.04 points, resulting from a decline of JATU. The price of JATU fell by 2.33 […]
The chief executive officer of the fallen retail giant Nakumatt, Atul Shah, has lost his Lavington home to auctioneers after the High Court dismissed a petition seeking to overturn the forced sale of the high-end property by KCB Group #ticker:KCB over a Sh2 billion debt. Justice Francis Tuiyott dismissed the petition by the administrator of […]
Covid-19 pandemic has seen the world confront its biggest health crisis this century, posing one of the most disruptive periods to businesses, forcing banks to empathise with clients’ lost livelihoods and businesses by easing off on loan payment demands Top East African banks increased provisions for bad debts by over $736 million last year (2020) […]
Customers wait to be served at a banking hall. FILE PHOTO | NMG Banks’ balance sheets look unfamiliar as lenders count the cost of setting aside large sums of money to absorb shocks of loan defaults. According to a report, Kenya and Ghana are the countries where banks look to have done precautionary provisioning as […]
Nairobi Securities Exchange (NSE) stocks posted the largest weekly loss since the start of the year as investors reacted to fresh lockdown and longer curfew hours introduced to stem the spread of Covid-19 infections. The market capitalisation reduced by Sh89.38 billion, closing Thursday trading at Sh2.468 trillion as Safaricom, East Africa Breweries Limited (EABL) and […]
The Central Depository and Settlement Corporation (CDSC), has appointed new members on the Board of Directors with Mrs. Aida Kimemia-Nesbitt as the new Board Chairperson of the company, effective April 1st, 2021. Mrs. Kimemia is Managing Director at Tiserin Capital, a financial advisory and investment firm supporting small and medium-sized enterprises in East Africa. She […]
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