A city parliamentary loser in the 2017 General Election has been charged with defrauding an international investor over Sh320 million in goods supplies scam. Francis Wambugu Mureithi, who unsuccessfully contested for the Embakasi East parliamentary seat on a Jubilee ticket was indicted for allegedly defrauding an Eritrean national Haile Menkerios the cash in a tender […]
Banks risk losing up to Sh100 billion loaned to parastatals, the Central Bank of Kenya (CBK) has warned, citing deepening cash-crunch among the State agencies due to slowdown in economic activity, competition from cheaper imports and bad governance. A total of 35 banks issued loans to State-owned enterprises (SOEs) in December 2019 – comprising some […]
Former Embakasi East MP aspirant Francis Mureithi Wambugu at the Milimani law courts on November 25, 2020. He pleaded not guilty to seven counts of obtaining money by false pretence. Former Embakasi East MP aspirant Francis Mureithi has been charged with fraud of Sh320 million in a military tender scam. He is accused that with […]
PHOTO. | File The Nairobi Securities Exchange (NSE) has extended the suspension of Nairobi Business Ventures (NBV) from trading on the bourse. NSE says the extension will allow for completion of the company’s restructuring process that includes a share split, allotment, and issuance of shares to Delta International FZE. A notice from the securities exchange […]
PHOTO. | File The Nairobi Securities Exchange (NSE) has extended the suspension of Nairobi Business Ventures (NBV) from trading on the bourse. NSE says the extension will allow for completion of the company’s restructuring process that includes a share split, allotment, and issuance of shares to Delta International FZE. A notice from the securities exchange […]
The Capital Markets Authority (CMA) wants the government to sell additional shares in listed State firms to help improve the trading liquidity of the Nairobi Securities Exchange. Trading activity at the stock market has slowed down due to lower share prices following the onset of the Covid-19 pandemic, which dragged down market turnover ratio to […]
The National Treasury has approved Sh810 million for payment of the six-month salary arrears of employees of the Postal Corporation of Kenya (PCK). The decision came after the workers petitioned Parliament following the state corporation’s failure to pay them since March, when the Covid-19 pandemic was reported in the country. Treasury Principal Secretary Esther Koimett […]
Mumias Sugar Company is yet to start milling a year after it was put under receivership in September 2019. The ailing miller went into receivership last year in September with hopes that the receiver manager would start operations in order to generate some income towards debt repayment. The firm requires half a billion shillings to […]
Extra neutral alcohol (ENA), also known as absolute alcohol, is a highly concentrated food grade alcohol, which can be produced from grain, sugarcane, corn, sugar beets, or other plant material. In Africa, it is majorly produced from sugarcane by fermentation of sugarcane juice and molasses with yeast, as it is the most economical process. It […]
Pullouts, shutdowns and divestments are almost becoming the new norm for retail chains across Africa, most especially in the eastern part of the continent . The latest in the fold is Deacons East Africa, a fashion brand that has operated in East Africa for up to 60 years. Possible Liquidation The fashion and clothing retailer […]
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