The revelation that 97 percent of stock trading accounts have been dormant for years should spur regulators and other stakeholders in the capital markets into action. It speaks to widespread investor apathy that comes on the back of disappointing returns, a major part of which can be traced to poor corporate governance among some Nairobi […]
The decline of big names such as Uchumi, Kenya Airways, East African Cables, East African Portland Cement and Mumias Sugar was the first sign of struggle in corporate Kenya. [File, Standard] An increase in the number of financially crippled corporates is the new headache for banks, with some lenders in court battles to recover billions […]
Dismissing an application to lift the orders stopping Sarrai Group Ltd from beginning to revive the debt-ridden Mumias, Justice Wilfrida Okwany said the case by five shareholders-cum-farmers was urgent “and worthy of the orders to protect the subject matter”. The extension of the orders rattled the Kakamega County Government prompting Senior Counsel James Orengo to […]
The revelation that 97 percent of stock trading accounts have been dormant for years should spur regulators and other stakeholders in the capital markets into action. It speaks to widespread investor apathy that comes on the back of disappointing returns, a major part of which can be traced to poor corporate governance among some Nairobi […]
The decline of big names such as Uchumi, Kenya Airways, East African Cables, East African Portland Cement and Mumias Sugar was the first sign of struggle in corporate Kenya. [File, Standard] An increase in the number of financially crippled corporates is the new headache for banks, with some lenders in court battles to recover billions […]
Mumias Sugar Company gate. [Benjamin Sakwa, Standard] The Competition Authority of Kenya now says it is yet to receive a notification seeking its approval of Mumias Sugar Company ’s lease by Ugandan miller Sarrai Group. In its response to a case filed by farmers, the authority asserts the deal cannot be sealed without its green […]
In a ruling made on Tuesday evening, the judge said interim orders will stay in place until March 14, when the matter comes up for hearing/FILE NAIROBI, Kenya, Jan 26 – The High Court has extended orders barring Ugandan company, Sarrai Group, from taking over operations of Mumias Sugar Company pending the determination of the […]
Kenya Airways (KQ) plane at Jomo Kenyatta International Airport (JKIA). Loss-making Kenya Airways (KQ) tops in Sh38.35 billion bailout unveiled yesterday to support struggling state-owned enterprises. Treasury is seeking parliamentary clearance to support KQ, Kenya Power and universities such as the University of Nairobi, which have been facing cash flow problems. If approved by Parliament, […]
Troubled Mumias Sugar Company has become the new battleground among the feuding billionaire Rai brothers after Jaswant Singh Rai, the chairman of Rai Group, joined other bidders to try to wrest a lucrative leasing contract from his younger sibling –Sarbi Singh Rai. The rift in the Rai family became public last year when a case […]
Tycoon Jaswant Rai. FILE PHOTO | NMG Billionaire Jaswant Rai lost a bid to lease ailing Mumias Sugar Company on account of his dominance in the sugar sector, the receiver manager has said. In his defence on why he awarded the lucrative tender to Uganda’s Sarrai Group, KCB’s receiver-manager Ponangipalli Rao says in court documents […]
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