Mid-sized commercial lender Sidian Bank swung to a profit of KSH 146.54 million (USD 1.33 million) for the March quarter from a loss of KSH 22.69 million last year on higher revenues. The Nairobi-based bank, which primarily services urban and rural SMEs in Kenya, saw interest income on loans and advances rise 37% to KSH […]
KN Law LLP has announced the admission of its Senior Partner, Mugambi Nandi, to the Roll of Solicitors of the Senior Courts of England and Wales. Mugambi has over 20 years’ experience in legal practice, with legal and boardroom experience as counsel, Company Secretary and member of private and public sector corporate boards. Throughout his […]
Centum Investment Group ( NSE:CTUM ) has posted the first full-year loss in over 42 years, weighed down by a drop in sales and investment income that failed to stop it from paying dividends. The firm, which was listed on Nairobi bourse in 1967 as Industrial and Commercial Development Corporation (ICDC) Investment and rebranded to […]
The mortgage decline in Kenya comes even as the government accelerates its affordable housing programme. No sooner had the grave of Chris Kirubi dried up than Centum Investment, a company the late tycoon founded, recorded its first loss in four decades. This news must have left the flamboyant billionaire shaking in his grave. But even […]
NAIROBI Kenya, Aug 4-Two Rivers Mall made over Sh1 billion in sales during the Somali Cultural Festival 2021 held at the mall two weeks ago, a new report reveals. The report by Centum Investment Company shows that the footfall number was above 20,000 in the period between January 2020 to July 2021 when the event […]
Investment firm Centum has announced the ground breaking of Riverbank Apartments, a 160-unit housing project at its Two Rivers development in Nairobi. Centum’s Real Estate managing director Samuel Kariuki confirmed that the development is expected to be completed within 24 months. The construction contract was awarded to Seyani Brothers & Co , a leading and […]
Sidian Bank CEO Chege Thumbi. FILE PHOTO | NMG Sidian Bank has posted a Sh274.7 million net profit in the six months to June, reversing a loss of Sh85.8 million recorded a year earlier. The improved performance was supported by a rise in both interest and non-interest income while operating expenses went down. The lender, […]
Centum says the Two Rivers Development could be a financial hub, business and residential district of choice. PHOTO | FILE Regional investment firm Centum is seeking to sell part of its shareholding in the Two Rivers Development Company (TRDC) Ltd to retire a Ksh4 billion ($37.03 million) short-term debt whose repayment is taking a toll […]
Regional investment firm Centum is seeking to sell part of its shareholding in the Two Rivers Development Company (TRDC) Ltd to retire a Ksh4 billion ($37.03 million) short-term debt whose repayment is taking a toll on its finances. Chief executive James Mworia told The EastAfrican that the proportion of shares to be surrendered to the […]
Mid-sized commercial lender Sidian Bank swung to a profit of KSH 146.54 million (USD 1.33 million) for the March quarter from a loss of KSH 22.69 million last year on higher revenues. The Nairobi-based bank, which primarily services urban and rural SMEs in Kenya, saw interest income on loans and advances rise 37% to KSH […]
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