Post Bank headquarters banking hall. [Wilberforce Okwiri, Standard] Large lenders — including Equity, KCB and Cooperative Bank of Kenya — have borrowed billions of shillings to support small entities in the wake of Covid-19 disruptions . Now, these banks are facing the test of their promise in the new year with Equity having continued with […]
Britam Holdings has sold Sh12.2 billion worth of shares in leading Kenyan lender Equity Group to the International Finance Corporation (IFC). The deal, revealed through a regulatory notice by Equity Group Holdings (EGH), now gives the investment arm of the World Bank a 6.7 per cent share of the lender. “EGH was notified that on […]
Dar es Salaam. When the year 2021 started, a share of the Tanga Cement Company Ltd (TCCL) at its Dar es Salaam Stock Exchange (DSE) trading counter was selling at Sh500. At the close of the year, the same share was being sold at Sh1,100, more than twice as much in value. The appreciation in […]
Investors lost Sh56.7 billion of paper wealth at the Nairobi Securities Exchange yesterday, the biggest interday drop since March last year. The market soured for investors holding Safaricom stocks to lose Sh56 billion as its share price declined to Sh38.5. East African Breweries #ticker:EABL shed Sh1.1 billion, Equity Bank #ticker:EQTY lost Sh943 million and Coop […]
Dar es Salaam. When the year 2021 started, a share of the Tanga Cement Company Ltd (TCCL) at its Dar es Salaam Stock Exchange (DSE) trading counter was selling at Sh500. At the close of the year, the same share was being sold at Sh1,100, more than twice as much in value. The appreciation in […]
The Nairobi Securities Exchange (NSE) opened the year on the up in Monday’s trading, largely buoyed by a gain in the Safaricom #ticker:SCOM stock. The telco, which accounted for 57 percent traded turnover at the market Monday, saw its price rise by Sh0.20 to Sh38.15 on the back of high demand by foreign investors. Other […]
Officials of a Ugandan company, which bagged the multibillion shilling leasing tender for Mumias Sugar Company now risk the slammer after an application for contempt was filed against them, for starting work despite a court order stopping the process. Tumaz & Tumaz Enteprises moved to court on Thursday accusing Mr Sarbjit Rai, the owner of […]
The Nairobi Securities Exchange (NSE) opened the year on the up in Monday’s trading, largely buoyed by a gain in the Safaricom #ticker:SCOM stock. The telco, which accounted for 57 percent traded turnover at the market Monday, saw its price rise by Sh0.20 to Sh38.15 on the back of high demand by foreign investors. Other […]
One of the biggest mergers in the past three years in Kenya has been what created NCBA Bank #ticker:NCBA , whose swift growth has made it the lender to watch. Just two years after the NIC Bank and CBA Bank merger, NCBA is now the largest lender by customer base. By the time of the […]
Kenya which had for over a decade blocked Uganda’s sugar from accessing its market including recurrent disputes over cross border trade and protectionism, the unthinkable has happened. Details reaching Taarifa Business desk indicate that Kenya’s troubled Mumias Sugar company has been leased to a Ugandan firm triggering tough protests from local Kenya bidders. Two firms […]
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