Unclaimed cash, shares and dividends surrendered to a State agency have crossed the Sh50 billion mark as investors including tycoons show disinterest in reclaiming the idle assets. Unclaimed Financial Assets Authority (Ufaa) on Monday revealed the idle assets stood at Sh51.4 billion in December, up from Sh43 billion in June, reflecting a growth of 19 […]
Entrance to Muias Sugar Company. FILE PHOTO | NMG Mumias Sugar Company has resumed ethanol production after a factory shutdown for nearly two months following a shortage of molasses. The miller has been relying on ethanol, which is now the main revenue stream, after milling of sugar stalled over two years ago as farmers stopped […]
From left to right: Gender CAS Rachel Shebesh, BSD Group CEO Eva Muraya and Ipsos MD Chris Githaiga. PHOTO | COURTESY Safaricom, Equity and Always are among the top 100 most loved brands by women, a study by market research firm Ipsos and BSD Group has revealed. Naivas, Menegai-Bar Soap, Arimis, Airtel, Ariel, Coca-Cola, Vaseline, […]
The Nairobi Securities Exchange #ticker:NSE has integrated its data for its derivatives market with global data platform Refinitiv, giving investors across the globe a real-time view of the market. London Stock Exchange listed Refinitiv runs the Elektron Real Time platform that will now carry the updates on the NSE’s single stock futures and index futures […]
Bank of Africa has been allowed to auction a prime property belonging to the CEO of fallen retail giant Nakumatt, triggering a fight with KCB Group #ticker:KCB that last November sold the asset for Sh1.04 billion. High Court judge Alfred Mabeya directed Bank of Africa to auction the property in Industrial Area, Nairobi, to recover […]
The equities market recorded mixed performance, with NASI and NSE 25 gaining by 0.9 and 0.7 percent respectively, while NSE 20 declined marginally by 0.1 taking their YTD performance to gains of 8.9,0.9 and 6.7 percent for NASI, NSE 20, and NSE 25. The equities market performance was driven by gains recorded by large-cap stocks […]
Reelanalytics senior researcher Enock Mokaya (left) and Marketing Society of Kenya CEO Edward Oswe during the launch of the 2020 Advertising Spends Report. Advertising expenditure dropped by Sh31.8 billion in 2020 as coronavirus muted revenues for firms, forcing them to slash operating expenses. The 2020 Advertising Spends report by Reelanalytics and Marketing Society of Kenya […]
The Central Bank of Kenya has paid Sh5 billion to the government as dividend, coming at a time when various state agencies are struggling to keep afloat. This is up from Sh4 billion moved to the Consolidated Fund in 2019, even as CBK reports a 16.6 per cent drop on deposits from government institutions in […]
On an October Monday morning four years ago, Richard Boro Ndungu, a partner at audit firm KPMG Kenya, was informed by the chief executive that an investigation was being launched over his conduct. The CEO, Josephat Mwaura, asked him to hand over his mobile phones and laptop so they could be forensically imaged to determine […]
Co-operative Bank #ticker:COOP has secured a Sh1.6 billion loan from Swedish State-owned investor Swedfund for onward lending to small and medium- sized enterprises (SMEs) in the country. While announcing the long-term funding, whose interest rate was not disclosed, Swedfund said that the facility would uplift Co-op Bank’s lending to the small enterprises who have been […]
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