Uganda Securities Exchange (XUGA)
The Democratic Republic of Congo (DRC) has tipped Kenyans to invest in its minerals and agricultural sectors in deals that will Equity Bank #ticker:EQTY finance. Governor of East Kasai province Jeanette Musuamba said the DRC, which has diamonds, iron, gold, cobalt and other minerals, provides a lucrative investment opportunity for Kenyan investors. “Serious exploitation can […]
The Treasury will offer Kenya Airways #ticker:KQ a further Sh146.9 billion bailout amid delayed recovery from a travel slump following Covid-19 in financial support that will see the State drop the plan to nationalise the airline. Treasury Secretary Ukur Yatani has said the government will take over Sh93.4 billion of national carrier Kenya Airways’ debt […]
The High Court has temporarily stopped the liquidation of collapsed Imperial Bank after billionaire businessman Ashok Doshi and his wife Amit sued over their Sh1 billion deposit. Justice John Onyiengo, sitting in Mombasa, issued the order suspending the Central Bank of Kenya’s (CBK) order to the Kenya Deposit Insurance Corporation (KDIC) to wind up the […]
Companies have rebranded in the last one-year or so to boost business and reinvigorate presence amid an economic impact caused by the Covid-19 pandemic. It is usual for companies to develop new logos, marketing materials as well as names to rejuvenate interest from consumers, employees and investors, as well as stay ahead of competitors. Recent […]
The year 2021 was characterised by new significant deals across the corporate sector after a lull induced by the Covid 19 pandemic. The merger and acquisitions activity cut across key sectors including financial services, real estate, telecommunication and agriculture. Some of the key ones included: Unga Group sells Ennsvalley Bakery to logistics company Unga Group […]
Banks will seek to lobby the Central Bank of Kenya (CBK) to reinstate charges on customers’ transfer of money from bank accounts to mobile money wallets. The lenders have witnessed a fall in fees and commissions from such transactions and eye the end of the freeze to rev up non-interest income. The Kenya Bankers Association […]
NCBA Bank Kenya #ticker:NCBA has lent Kenya Power #ticker:KPLC Sh6.75 billion, becoming the largest local lender to the electricity distributor by taking over the company’s overdraft facilities. The Nairobi Securities Exchange-listed bank provided the 12-year loan on October 9, 2020. Details of the loan are disclosed in Kenya Power’s annual report for the year ended […]
Two firms that placed the highest financial bids for leasing troubled Mumias Sugar have protested the move by KCB receiver manager to award the tender to a Ugandan company, arguing evaluations on technical capacity should have been done by a third party. Kruman-Finances and Tumaz & Tumaz now argue that Sarrai Group –which runs three […]
Family Bank will pay investors an interest rate of 12.5 percent on the tranche of its corporate bond which carries a variable coupon. The bank says investors holding the floating rate bonds will receive their second interest payment on June 24, 2022, when owners of its fixed rate notes will also be paid at the […]
Insurance firm Britam Holdings #ticker:BRIT is set to raise Sh13.9 billion from the sale of 253.1 million shares of Equity Group Holdings #ticker:EQTY to the International Finance Corporation (IFC). Sources familiar with the transaction told Business Daily that IFC will acquire the shares at a price of Sh55 each based on negotiations with the insurer. […]
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