Entrance gate at Mumias sugar company. PHOTO | ISAAC WALE | NMG The 20-year lease, however, excludes assets in the firm’s ethanol and cogen plants, which recently were seized by Pan-African lender Ecobank and French development financier Proparco from KCB Group. Mumias, which used to be Kenya’s leading producer at more than 250,000 tonnes a […]
Entrance gate at Mumias sugar company. PHOTO | ISAAC WALE | NMG The Mumias deal effectively puts the multibillion-shilling Kenya and Uganda sugar business in the Rai family. For Sarbi, the Mumias Sugar deal sets the stage for market share war with Jaswant, whose family controls half of the commodity’s sales in Kenya. The cross-border […]
Talk of company board members in Kenya, and the image that comes to mind is of grey-haired individuals, most likely male. While the average age of CEOs and boards directors has come down over the years, representation of the younger people is still low considering Kenya’s demographic balance. A board diversity report published by Nairobi […]
Digital lenders will not blacklist defaulters of up to Sh1,000 loans in proposed Central Bank of Kenya regulations that also bar such lenders from arbitrarily varying the price of credit. The CBK draft Digital Credit Providers Regulations, 2021 published yesterday also bars the lenders from forwarding names of defaulters to Credit Reference Bureaus (CRBs) without […]
A Ugandan firm that won the lucrative bid to lease Mumias Sugar Company might not savour its victory yet after a case was filed in court yesterday to challenge the contract. Barely a day after Sarrai Group was announced as the winner of the 20-year lease, Tumaz and Tumaz Enterprises Ltd , a firm associated […]
A total of 282 Small and Medium-Sized Enterprises (SMEs) in Laikipia County have so far benefited from Ksh 129 million from a subsidized Economic Stimulus Fund. The county Stimulus Fund Manager Jesse Muriithi spoke during the Laikipia Economic Stimulus Stakeholders Engagement webinar meeting Thursday, however, decried the prevailing low loan uptake, citing lack of trading […]
Entrance gate at Mumias sugar company. PHOTO | ISAAC WALE | NMG The 20-year lease, however, excludes assets in the firm’s ethanol and cogen plants, which recently were seized by Pan-African lender Ecobank and French development financier Proparco from KCB Group. Mumias, which used to be Kenya’s leading producer at more than 250,000 tonnes a […]
KCB Uganda has rolled out ATM recyclers at select banking halls across the country, as a way of enhancing customer experience and improving the turnaround time. A cash recycler is a machine that accepts and dispenses cash through secure means. It keeps an accurate accounting of cash on hand and automates the cash cycle. In […]
Talk of company board members in Kenya, and the image that comes to mind is of grey-haired individuals, most likely male. While the average age of CEOs and boards directors has come down over the years, representation of the younger people is still low considering Kenya’s demographic balance. A board diversity report published by Nairobi […]
Assets of the ailing Mumias Sugar Company have been leased to Uganda-based conglomerate Sarrai Group, the miller’s receiver-manager Pongangipalli Venkata Ramana Rao has disclosed. The 20-year lease, however, excludes assets in the firm’s ethanol and cogen plants, which recently were seized by Pan-African lender Ecobank and French development financier Proparco from KCB Group. “Although the […]
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