Nairobi — Stanbic Bank Kenya has entered into an import financing partnership with two motor-vehicle importers in Kenya, MHH International Limited and World Navi Company Limited. With the inking of the deal, customers will get up to 80 per cent financing through Stanbic Bank with 20 per cent deposit being paid to the importers, and […]
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Stanbic bank signs import financing deal with two vehicle importers
Head of High Net Worth and Affluent Banking Clients at Stanbic Bank Kenya, Aliya Khanbhai and Managing Director, MHH, Alistair Benn during the signing of the Memorandum of Understanding of the Motor Vehicles Financing Scheme/COURTESY NAIROBI, Kenya, March 2 – Stanbic Bank Kenya has entered into an import financing partnership with two motor-vehicle importers in […]
Costly imports as shilling hits new all-time low
The Kenyan shilling is under fresh pressure against the dollar after it hit a new record low on Monday, setting up the country for more expensive imports and debt servicing distress. Central Bank of Kenya (CBK) data shows the Kenya shilling hit a record low to exchange at an average of 113.94 on Monday. Bloomberg […]
Uganda Securities Exchange equity turnover drops 73%
Uganda Securities Exchange (USE) started the new year on a weak footing with equity turnover falling by 73.8 percent to Ush 2.05 billion ($579,828) in January. According to the bourse’s monthly bulletin for January, the value of shares traded declined to Ush2.05 billion from Ush7.8 billion ($2.2 million) in December last year (2021),representing a daily […]
Zimbabwe: Datvest To List Modified Consumer Staples ETF
The ZSE has already granted approval for the listing of the Datvest Modified Consumer Staples ETF on the ZSE by way of Introduction. ETFs are baskets of different types of investments such as stocks, commodities and bonds that are pooled into a single entity which then offers shares to investors that are subsequently traded on […]
Solar powering Kenya clean energy profile thanks to $35m investment
Alten Energias’ Alten Kenya Solarfarms BV has secured a $35 million loan from the EAIF for a 40 MW project it is building in the country. (Image: Shutterstock.com) The Emerging Africa Infrastructure Fund (EAIF) will lend $35 million to the Kesses solar generation plant in Kenya. The EAIF, which is part of the Private Infrastructure […]
USE equity turnover drops 73pc
Traders at one of the Business awareness events in 2012 in Kampala. PHOTO | FILE According to the bourse’s monthly bulletin for January, the value of shares traded declined to Ush2.05 billion from Ush7.8 billion ($2.2 million) in December last year (2021),representing a daily average turnover of about Ush103 million ($29,132.8). The volume of shares […]
Strong rebound for Uganda’s economy
BoU says 2022 economic outlook is more positive than earlier projected Kampala, Uganda | JULIUS BUSINGE | There is good news from Bank of Uganda indicating a big rebound in economic growth in 2021, meaning Ugandans got more money in their pockets to buy goods and services. In its monetary policy statement for February 2022, […]
USE equity turnover drops 73pc
Traders at one of the Business awareness events in 2012 in Kampala. PHOTO | FILE According to the bourse’s monthly bulletin for January, the value of shares traded declined to Ush2.05 billion from Ush7.8 billion ($2.2 million) in December last year (2021),representing a daily average turnover of about Ush103 million ($29,132.8). The volume of shares […]
Centum cleared in Coke, KRA battle over Sh3.7bn
Centum Investment Company #ticker:CTUM has been spared from compensating the buyer of its Coca-Cola bottling businesses Sh3.7 billion after the Supreme Court stopped the Kenya Revenue Authority (KRA) from demanding the billions. The company in 2019, sold its 27.6 percent stake in Nairobi Bottlers and 53.9 percent interest in Almasi Beverages — the owner of […]