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 […]
UK to support Kenya’s infrastructure, financing agenda
Kenyan President Uhuru Kenyatta shakes hands with UK Prime Minister Boris Johnson/ PSCU NAIROBI Kenya, 19 Jan- The United Kingdom has reaffirmed its commitment towards supporting Kenya’s infrastructure and financial deepening agenda. Speaking at the Kenya -UK Infrastructure Partnership forum held in Nairobi, UK’s Minister for Africa Vicky Ford said her government is prioritizing green […]
Limuru Tea 2021 earnings to drop by 25%
NAIROBI, Kenya, Jan 18 -Agricultural firm Limuru Tea expects its net profit for 2021 to decline by at least 25 percent, citing lower green leaf volumes compared to 2020. In a notice to shareholders on Saturday, the Nairobi Securities Exchange-listed firm said business was weighed down by low tea prices and rising cost of production […]
Centum inks Sh17bn deal with GEM Global
NAIROBI, Kenya, Jan 12 – Centum Real Estate Limited has inked a share subscription facility deal of upto Sh17 billion with GEM Global yield, the Luxembourg-based private alternative investment group for a 36 month term. The deal will allow the wholly-owned subsidiary of Centum Investment company to draw down funds by issuing shares of common […]
Equity Group Gets License To Operate Insurance Business.
NAIROBI, Kenya, Jan 11 – Equity Group has been granted a license to venture into the Insurance Business by the The Insurance Regulatory Authority (IRA). The firm will operate the new venture under Equity Life Assurance, a fully-fledged business with separate structures and commercial arrangements in line with the IRA regulations. Commissioner of Insurance and […]
Smallholder Tea Farmers to Receive Sh3 billion
A worker picking tea/ SCIENCE PHOTO LIBRARY NAIROBI, Kenya Jan 10- Kenyan tea farmers are set to receive Sh3 billion as payment for the December 2021 green leaf deliveries. According to the Kenya Tea Development Agency the payments will be disbursed to smallholder tea farmers through their respective factories. Some green leaf farmers have already […]
KQ Shares Trading Suspended for 12 Months As Merger Looms
NAIROBI, Kenya Jan 5 – The Capital Markets Authority( CMA) has extended the suspension of shares of Kenya Airways (KQ) from trading at the Nairobi Securities Exchange (NSE) for 12 months ‘effective January 5th 2022. This follows the announcement by President Uhuru Kenyatta of a possible merger between the national carrier and South African Airlines. […]
IFC Loans Equity Group Sh18.6 billion To Fund SMEs
NAIROBI, Kenya, Jan 4 – The International Finance Corporation (IFC) has loaned Equity Group Sh18.6 billion to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients in Kenya, especially those facing COVID-19 related challenges. The loan is one of the single-largest credit facilities to a Kenyan lender, and […]
Top businessman objects leasing of Mumias to Sarrai Group
A picture of Workers carrying packets of sugar at the Mumias Sugar factory in Western Kenya/ The standard NAIROBI Kenya, Dec 29- Businessman Julius Mwale, who missed out on the offer for leasing troubled Mumias Sugar has protested the move by KCB receiver manager to award the tender to a Ugandan company. Mwale, who placed […]
