UAE to tap into Kenya’s skilled labour market
President Uhuru Kenyatta delivers his remarks during the opening of the Kenya-Gulf Cooperation Council (GCC) States business forum in Dubai/ PSCU NAIROBI, Kenya Feb 17- The United Arab Emirates (UAE) is looking to tap into the Kenyan market for skilled labourers, offering a 10-year visa to support the development of the region’s economy. The long-term […]
Branch gets Treasury Greenlight to Acquire 85% Century Bank Stake
Branch App/ branch.co NAIROBI, Kenya Feb 8- Branch International can now move forward with its plans to acquire Century Microfinance Bank after receiving the greenlight from National Treasury. This after the National Treasury exempted the digital lender from a law limiting individual shareholding in microfinance to 25 percent. In a gazette notice signed by the […]
Fly540 boss set to lose property over Sh678.7 million debt
A Fly540 aircraft/ Fly540.com NAIROBI, Kenya Feb 4- Environmental and Land Court judge James Olalo has declined to stop auctioneers from selling property belonging to Fly540 Chief Executive Officer over a Sh678.7 million debt. Donald Smith Earle- who runs Fly540 and a fellow investor risk losing prime properties in Malindi that include cottages and a […]
Kenya’s journey to a healthy Environment Social and Governance(ESG) investment climate
Partner at the Environmental practice at commercial law firm Cliffe Dekker Hofmeyr Kenya Clarice Wambua/ LinkedIn NAIROBI, Kenya Feb 2- With the increasing recognition of the need to integrate Environment Social and Governance (ESG) in day-to-day corporate operations, it is likely that ESG disclosure and reporting requirements will soon be a mandatory requirement for more […]
KRA, EACC go after secret company shareholders
Times Tower building in Nairobi, Kenya/ Courtesy. NAIROBI, Kenya Jan 31- The Kenya Revenue Authority (KRA), the Ethics and Anti-Corruption Commission (EACC), and the Financial Reporting Centre (FRC)- which tracks money launderers- are now mining data from a registry of secret shareholders disclosed to the Attorney-General in a fresh crackdown on corrupt individuals and tax […]
Court of Appeal Halts Sale of Dusit over Sh2.8 billion Debt Row
14 Riverside Drive/ Citizen Digital NAIROBI, Kenya Jan 27-The Appellate Court has halted the planned auction of a multi-billion-shilling property in Nairobi’s Riverside Drive where the Dusit D2 hotel stands over a Sh5 billion debt. Justices Daniel Musinga, Wanjiru Karanja and Agnes Murgor put on hold the auction pending a ruling on March 18. The […]
Bboxx Kenya Secures Sh1.6 billion loan from SBM
Bboxx employees setting up a solar home system/ Courtesy. NAIROBI, Kenya Jan 26- SBM Bank Kenya has lent Sh1.6 billion to solar energy firm Bboxx that plans to connect 470,000 Kenyans to renewable energy sources. GuarantCo, a fund backed by the governments of UK, Switzerland and Australia among others, is guaranteeing Sh1.2 billion or 75 […]
Carmaco Abandons Plans to list on the London Stock Exchange
Cargo at the port of Mombasa/ KPA NAIROBI, Kenya Jan 25- Comarco Group has ditched plans to list on the London Stock Exchange (LSE) through a reverse takeover of UK’s publicly-traded company Anglo African Agriculture. This was after some shareholders of Comarco said they did not want to proceed with the transaction. Initially, the port […]
Kenyans Forgo Unclaimed Assets as they hit Sh55 billion
UFAA Chairman Richard Kiplagat/ Courtesy NAIROBI Kenya, Jan 24- The Unclaimed Financial Assets Authority (Ufaa) is sitting on Sh54.8 billion in idle cash, shares and dividends and is struggling to reconcile the growing haul to its legitimate owners. Latest data by the authority revealed that Ufaa only received 2,315 claims between October and December last […]
Consultancy firm demands share of Sh17 billion Centum deal
Centum Investment Company managing director James Mworia/ Twitter NAIROBI, Kenya Jan 20- The financial consultancy firm that helped Centum Real Estate ink a share subscription facility deal of upto Sh17 billion with GEM Global yield, now wants a share of the money. Raisin Limited has written to Centum Development Kenya Limited stating it had entered […]
