Equity Group Pulls Out of Atlas Mara Acquisition Deal
Atlas Mara acquisition by Equity Group has flopped as the two firms have mutually agreed to discontinue acquisition transaction discussions citing the need to refine EGH's strategy given the COVID19 [...]
NSE Turnover Falls 78% to KSh 202.8 Million
At the end of Monday's trading at the Nairobi Securities Exchange (NSE), 9,766,600 shares valued at KSh 202.8 Million were traded. Monday's trading showed 77% decline in volume, 78% decline [...]
Relief for Mumias Sugar as KSh 11 Billion Tax Bill Waived
The Government has waived KSh 11 billion in tax arrears owed by the debt-ridden Mumias Sugar Company. The information was disclosed by the Kakamega Governor Wycliffe Oparanya, while co-chairing the [...]Hemingways Re-opens Nairobi Watamu Properties
Luxury boutique hotel chain, Hemingways Collection has reopened its Nairobi and Watamu properties, with effect from today, 23rd June 2020. The properties had been closed since the onset of the [...]
Low Economic Activity Cuts Fuel Consumption
Low economic activity due to the COVID-19 Pandemic continues to lower fuel consumption, slumping demand for petrol, diesel, and jet fuel. Demand for Petrol and Diesel fell by 26.8%, and [...]New Twist as Nairobi Hospital Suspends Jubilee Insurance over KSh357 Million Debt
Nairobi Hospital has suspended its services for Jubilee Insurance card holders, citing unpaid debts of up to KSh357 million that have accrued over a period of three years (since 2018). [...]Nairobi Metropolitan Services Creation Ruled Unlawful, Given 90 Days to Adhere
The Employment and Labour relations court has suspended the declaration of illegality of Nairobi Metropolitan Services (NMS) from taking effect for a period of 90 days. In her ruling, Lady [...]Kenya Shilling Holds Steady against Major Currencies
The Kenya Shilling held steady against major international and regional currencies during the week ending June 18, 2020. In the week, the shilling averaged KSh106.45 against the US Dollar, KSh134.20 [...]Silas Kinoti Confirmed as KURA Boss
Eng. Silas Kinoti has been confirmed as the Director-General/CEO of Kenya Urban Roads Authority (KURA) effective 18th June 2020. Eng. Kinoti has been KURA's director-general in an acting capacity since [...]SGR Contract is Illegal Court of Appeal
The Court of Appeal has ruled that the SGR contract is illegal, following Kenya Railways' (KR) failure to follow the set procurement laws. The Court ruled out that the procurement [...]CBK Raises KSh64 Billion in Domestic Debt in a Week
CBK weekly bulletin for the week ending Friday 19 June reveals that CBK collected KSh63.72 billion from the domestic debt market. CBK collected the funds through treasury bills and bonds [...]NSE Turnover Rises 83% to KSh936 Million
Trading on Friday, 19th June 2020, at the Nairobi Securities Exchange (NSE) saw an 83% increase in turnover to KSh936.86 million from Thursday's turnover of KSh512 million. Over 41.8 million [...]
