MTN Uganda IPO Falls Short Of Target
NAIROBI, Kenya, Dec 6 – MTN Uganda has raised Sh16.94 billion in its Initial Public Offering (IPO), falling short of the target by 36 percent. In a statement the telco said it had offered 4.5 billion shares to investors who bought 2.9 billion shares, less than two -thirds of its target. MTN Group was selling […]
Naivas owners in feud over Sh6 billion sale
Naivas Supermarket in Ngong Township/Courtesy NAIROBI, Kenya Dec 6- Naivas Supermarkets is currently in a fresh family battle over ownership of the giant retail chain including proceeds from the sale of 30 percent stake for Sh6 billion. Newton Kagiri Mukuha- the eldest of the three brothers has renewed his fight over the giant retailer in […]
KCB Group calls off plans to acquire Tanzanian Bank
KCB Group CEO Joshua Oigara (right) Chairman Andrew Kairu (centre) and Group CFO Lawrence Kimathi during the release of the full-year result/ Courtesy. NAIROBI, Kenya Nov 2- KCB Group Plc has pulled out of the bid to acquire African Banking Corporation Tanzania Limited (BancABC), a commercial bank domiciled in Tanzania. This follows failure to receive […]
Kenya At An Advanced Stage To Revise Sh1Mn Cash Transactions Limit
Central Bank of Kenya building in Nairobi/ Courtesy NAIROBI, Kenya Dec 1 – Kenya is set to revise the Sh1 million threshold for cash deposits and withdrawals in banks. Speaking in Parliament during the state of the nation address, President Uhuru Kenyatta said that the Central Bank of Kenya is at an advanced stage of […]
SMEs reprieve as EU Bank injects Sh6.3 billion into Co-op Bank
Co-op Bank CEO Gideon Muriuki/ Twitter. NAIROBI, Kenya, Dec 1 – The Co-operative Bank of Kenya (Co-op Bank) has signed a Sh6.3 billion deal with the European Union Bank to aid small and medium enterprises recover from the effects of the Covid -19 Pandemic. Co-op Bank Managing Director and Chief Executive Gideon Muriuki said the […]
The spectacle that was Nairobi Legal Awards 2021
NAIROBI, Kenya Nov 30 – On Friday night all the brightest legal minds met in Nairobi for a night of celebration in a black tie event. Of course, all of the fun began on the red carpet – the walkway of the stunning. When it’s time to make a statement, big or small, this is […]
Nairobi Legal Awards: Who were the stars of the night?
NAIROBI Kenya, Nov 29- The 2021 edition of the Nairobi Legal Awards was a pompous affair which took place on Friday November 26, 2021 at The Movenpick Hotel. This year’s edition of the awards dubbed “The Phoenix Edition” was aimed at signifying the rebirth of Kenya’s legal space following the devastating impact of the Covid-19 […]
Co-operative Bank Q3 profit hits Sh11.6 billion
Co-operative Bank Group Managing Director and CEO Gideon Muriuki./ Courtesy. NAIROBI, Kenya, Nov 19 – Co-operative Bank Group’s net profit went up by 20 percent to Sh11.6 billion during the third quarter of 2021 compared to Sh9.8 billion reported over the same period last year. “The strong performance by the bank exceeds the pre-pandemic performance […]
Motorists will now have to pay to use some Kenyan roads
Ongoing construction of the Nairobi Expressway Uhuru Highway. PHOTO/ NMG NAIROBI, Kenya Nov 19- Motorists are set to cough up more cash after the State tabled rules, paving the way for the introduction of toll fees along some highways. The Public Finance Management (National Road Toll Fund) Regulations 2021 seeks to establish the National Roads […]
Imported goods to go up as shilling weakens further to the dollar
CBK Governor Patrick Njoroge displays some of the new designs for the Kenyan currency notes/ CBK website. NAIROBI, Kenya Nov 18 – The Kenya shilling fell to an all-time low to trade at Sh112.07 against the dollar attributed to weak inflows and strong dollar demand across sectors. The weakening of the shilling signalling an increase […]
