Naivas Sells 30% Stake to French PE Firm
Amethis Finance, a French private equity fund has announced plans to acquire a 30% percent stake in Naivas Supermarkets. However, the companies have not disclosed how much the PE firm [...]
SBG Securities Maintains Buy Recommendation on Safaricom
SBG Securities expects growth in Safaricom's service revenues, EBIT and earnings per share owing to digitization and business process engineering. Moreover, the Stanbic Stockbroker maintains a buy recommendation for Safaricom [...]Tatu City Charts Record Growth
Since its international investors secured legal support in 2016, Tatu City has grown to be one of the most promising urban developments in Africa with its long-term goal of de-congesting [...]KRA Misses 2019 Half Year Revenue Targets by KSh 88 Billion
The National Treasury records reveal that Kenya Revenue Authority (KRA) missed half year revenue targets by Ksh88.3 billion. In the first six months of the 2019/2020 financial year, KRA netted [...]
Auditor General's Appointment Delayed
Auditor General's appointment may take longer than anticipated pending conclusion of a case filed by activist Okiya Omtatah. The Employment and Labor Relations courts suspended the appointment process to look [...]IMF, World Bank to conduct an assessment of Kenya’s financial sector
Discussions have begun with the authorities about the possibility of the International Monetary Fund(IMF) and the World Bank conducting a comprehensive Financial Sector Assessment Program (FSAP) of Kenya in 2020. [...]
Mpesa Tripple Pay of Accessibility, Simplicity and Convenience
In 2006 before the M-PESA innovation, there were only 2.4 million bank accounts in Kenya. Access to formal financial services was a preserve for a few. Fast forward in 2020, [...]
Treasury Seeks KSh 50 billion From Local Investors
Treasury has aggressively entered the local market, seeking KSh50 billion to settle commercial debts that are soon maturing. Analysts maintain that the 10-year and 5-year bonds will be oversubscribed. “While [...]LAPSSET Back on Track as Leaders Sign MoU
The Lamu Port-South Sudan-Ethiopia-Transport (LAPSSET) Corridor project is back on track after leaders from Kenya, South Sudan and Ethiopia signed a Memorandum of Understanding (MoU) that will see the three [...]Nakumatt Collapse Causes Panic in Debt Markets
Investors who bought into the KSh 4 billion commercial paper issued by Nakumatt Holdings, now in liquidation, are a worried lot. Analysts are of the opinion that unsecured creditors, such [...]Nigeria's Access Bank Completes Acquisition of Transnational Bank
Nigerian lender, Access Bank has completed 100 per cent acquisition of Kenyan Tier3 lender, Transnational Bank effective February 1, 2020. Central Bank of Kenya (CBK) reports that the deal fell [...]Mumias Sugar Set to Revive Production
Mumias Sugar Company Limited is set to revive production, after Kenya Power agreed to reconnect power to the miller's premises. However, the revival might be limited only to ethanol production, [...]
