A Co-op Bank branch in Nairobi. FILE PHOTO | NMG Co-operative Bank of Kenya has offered an initial Sh1 billion for the purchase of a 90 percent stake in Jamii Bora Bank, according to disclosures by the small lender ahead of its July 1 shareholders meeting that will consider the proposed transaction. Jamii Bora’s current […]
Audrey Masitsa Women have taken the world, and Kenya, by storm with their ability to top the career ladder ensuring the corporations they run reach new heights. It was previously unheard of for women to join the corporate world, let alone head it. But over the years, many have broken the glass ceiling and become […]
Mr James Ndegwa, the Capital Markets Authority (CMA) board chairman. PHOTO | SALATON NJAU | NMG The Attorney-General has defended the appointment of James Ndegwa as the chairman of Capital Markets Authority (CMA) in a court case filed by activist Okiya Omtatah seeking his removal over alleged conflict of interest. Mr Omtatah argues that Mr […]
NCBA will redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date. File | Nation Media Group Banking group NCBA is set to redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date, a move that will see it save Sh222.5 million in […]
NCBA Group chief executive John Gachora during a December 2019 interview. FILE PHOTO | NMG Banking group NCBA is set to redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date, a move that will see it save Sh222.5 million in interest expenses. The Nairobi Securities Exchange-listed firm says […]
Banking group NCBA is set to redeem its Sh7 billion corporate bond 91 days ahead of its December 14, 2020 maturity date, a move that will see it save Sh222.5 million in interest expenses. The Nairobi Securities Exchange-listed firm said it will now settle the debt on September 14 using internal cash flows. The bond […]
“Accordingly, GCR will no longer provide ratings or analytical coverage for NIC and CBA. The ratings were last reviewed in February 2019,” the GCR which is an African arm of New York Stock Exchange listed Duff & Phelps said in its latest report. Both banks were then rated as evolving with CBA assigned A+(KE) and […]
NCBA Group chairman James Ndegwa (left) and his brother Andrew Ndegwa each own a 4.16 percent personal stake in the bank with a market value of Sh1.6 billion apiece. FILE PHOTOS | NMG NCBA Group chairman James Ndegwa and his brother Andrew Ndegwa each own a 4.16 percent personal stake in the bank with a […]
New cost cutting measures Kenyatta family owned NCBA bank closes down 14 branches as it seeks to cut down costs during Covid19 crisis NCBA, a bank owned by President Uhuru Kenyatta and his family has permanently shut down 14 branches as it seeks to cut operational costs amid the effects of the coronavirus. The company […]
Mr James Ndegwa (left) and his brother Andrew Ndegwa. FILE PHOTOS | NMG ICEA Lion Insurance Holdings, which is controlled by the family of the former Central Bank of Kenya governor Philip Ndegwa, is set to raise Sh2.4 billion from the sale of a 24.1 percent stake to private equity firm Leapfrog Investments. Regulatory filings […]
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