CMA to Investigate Transfer of Unilever Stake in Limuru Tea
The Capital Markets Authority(CMA) has put Limuru Tea under intense scrutiny after its minority shareholders filed a court petition stopping the regulator from approving the transfer of a 52% equity [...]
Base Titanium to Invest KSh3.3 Billion Capital in New Mining Site
Base Titanium has announced plans to make a capital expenditure of KSh3.3 billion at a new mining site on its Kwale operation, extending the life of the venture by 13 [...]
NOCK to Import Cheaper Fuel from Saudi Arabia
NOCK( National Oil Corporation of Kenya) has clinched a deal to ship cheaper fuel products from Saudi Arabia as the Government seeks to protect consumers from rising global prices. The [...]Olympia Capital posts Net Profit of KSh 17.5m
Olympia Capital Holdings Limited has recorded a net profit of KSh 17,496,000 for the financial year ended 28th February 2022. This is compared to a net loss of KSh 1,113,000 [...]Jennifer Karina Retires As Chairperson of Kenya Reinsurance Board
Jennifer Karina, who was appointed as Kenya Reinsurance Corporation Limited Board of Directors Chairperson in July 2021, has retired after serving in that position for one year. She made this [...]Tanzania Raises Cost of Export Permits by 93 %
Tanzania has increased the cost of export permits by 93 per cent, a move likely to open another round of trade dispute between Nairobi and Dar es Salaam. The authorities [...]
Equity Group Inks Deal with CFAO to Provide 80% Machinery Financing to Farmers
Equity Group, CFAO Kenya Ltd, and CFAO Agri Limited-the agribusiness division of CFAO Kenya- have entered into a deal that will among others see farmers provided with up to 80 [...]KRA Looks to its New Tax System to Boost VAT Collection
The Kenya Revenue Authority (KRA) is banking on its new Tax Invoice Management System (TIMS) to increase VAT collections to 35 per cent of total tax revenue, even as the [...]Safaricom Loses Over 400,000 Users in Ongoing Sim Registration Exercise
Safaricom lost 438,797 subscribers in the first three months of this year on the back of a SIM card registration directive issued by the industry regulator, the Communications Authority of [...]NSE Daily Equity Turnover Drops 57% to KSh 515.6m
The Nairobi Securities Exchange(NSE) recorded a significant decline in daily equity turnover on the first day of this trading week to KSh 515.6m compared to KSh 1.2 billion when trading [...]France's Proparco Invests $31.5 Million in Naivas Supermarket
French sovereign wealth fund, Proparco has partnered with Mauritius's IBL Group, and DEG, a subsidiary of German KfW Group, to jointly acquire a 40% stake in Naivas supermarkets chain. Nevertheless, [...]Weekly Tea Auction Records More Decrease in Prices
The weekly Mombasa Tea Auction held on 20th, 21st, and 22nd June 2022 had 13.5 million kilograms of tea offered for sale. The amount on offer increased from 13.2 million kilograms during [...]
