A display of listed equities at the NSE Photo taken on August 1,2019. PHOTO | CITIZEN DIGITAL The stocks of Safaricom and the East African Breweries Limited (EABL) have led the rebound witnessed at the Nairobi Securities Exchange (NSE) from the COVID-19 shocks registered earlier this year. This is as local investors fill in the […]
Standard Chartered Bank Kenya Annual General Meeting (AGM) 2020 will be held on 24th July 2020.
Kenyan banks are expected to hoard cash as they report a jump in first-quarter loan-loss provisions to cope with the aftermath of the coronavirus pandemic. Kenyan banks are expected to hoard cash as they report a jump in first-quarter loan-loss provisions to cope with the aftermath of the coronavirus pandemic. Kenyan institutions got a cash […]
Nairobi — Debt-ridden East African Cables has announced that there will be a delay in the publishing of the audited financial statement for the year ending December 31, 2019. In a statement, the Group’s Company Secretary Virginia Ndunge said the firm has already obtained approval from the Capital Markets Authority granting it the extension. Ndunge […]
East African Cables has reached an agreement with the State Bank of Mauritius (SBM) over the restructuring of Ksh285 million ($2.85 million) debt that is due and payment on demand, giving the company a lifeline in its recovery efforts. The agreement means the lender withdraws a liquidation petition against the firm, a Nairobi Securities Exchange-listed […]
In January 2020, the media reported a court petition by the State Bank of Mauritius (SBM) to liquidate the East African Cables over a $2.85 million (Ksh285 million) debt. However, the two parties have reached an agreement , recently, on the restructuring of the $2.85 million (Ksh285 million) debt that is due and payable on […]
In January 2020, the media reported a court petition by the State Bank of Mauritius (SBM) to liquidate the East African Cables over a $2.85 million (Ksh285 million) debt. However, the two parties have reached an agreement , recently, on the restructuring of the $2.85 million (Ksh285 million) debt that is due and payable on […]
The East African Cables manufacturing plant in Nairobi. The company has been making losses for the past four years. FILE PHOTO | NMG The agreement involves a restructure of the outstanding facilities by the bank under a new long term facility. EA Cables is grappling with a huge debt portfolio amounting to Ksh3.55 billion ($35.5 […]
NAIROBI (Reuters) – Standard Chartered Bank Kenya has adjusted the terms of more than 8 billion shillings ($75.4 million) of its loans to individuals and businesses – about 6% of the total – to help them weather the impact of COVID-19, it said on Wednesday. Lenders in the East African nation have so far restructured […]
BC-Kenyan-Banks Hoarding-Cash-to-Cover-Faltering-Loans , Eric Ombok (Bloomberg) — Kenyan banks are expected to hoard cash as they report a jump in first-quarter loan-loss provisions to cope with the aftermath of the coronavirus pandemic. Kenyan institutions got a cash boost when the central bank lowered reserve requirements to free up funds for lending, while interest rates have […]
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