Institutional investor acquires stake in Tuskys Supermarkets
An institutional investor has acquired a stake in Tusker Mattresses Ltd, a Kenyan based family owned retail chain with more than 60 branches across the region. According to our sources [...]
KCB Group financials to weaken after the acquisition of National Bank Moody's
KCB’s plan to acquire the debt-laden National Bank of Kenya recently gained approval from its shareholders and the Central Bank of Kenya. The transaction is expected to be finalized by [...]
World Bank Sets aside Sh 5 Billion to Fund Kenyan SMEs
World Bank has partnered with the Ministry of Trade and Industrialization to set up a Sh 5 Billion kitty to fund local entrepreneurs saying this is meant to improve innovation [...]
James Githii Mburu to Replace John Njiraini as New KRA Commissioner General
James Githii Mburu has been appointed as the new Commissioner General of the Kenya Revenue Authority (KRA), replacing Mr John Njiraini whose term ends in June. In a special gazette [...]CMA Regulatory Sandbox is now accepting applications. Here's why it is a big deal
When the Capital Market's Authority announced plans last year to set up a regulatory sandbox for startups to join and develop their FinTech products albeit within the regulatory frameworks set, [...]CBK Governor, Deputy Governor and Board Chair to serve another four-year term
Dr. Patrick Njoroge will continue to serve as the Central Bank Governor for another four years following his reappointment by President Uhuru Kenyatta. The Governor has been in office since [...]Kenya Revenue Demands Over Sh 11 Billion Accrued Taxes from Betin
Betin Kenya has filed a petition in Court challenging Kenya Revenue Authority’s demands of Sh11 billion accrued taxes from the betting company. In its petition, the firm argues that the [...]Planned Acquisition of NBK by KCB Group Challenged in Court
LISTEN TO ARTICLE A petition has been filed in court challenging the planned acquisition of National Bank of Kenya by KCB Group on the grounds that the deal is marred [...]Central Bank approves National Bank takeover offer by KCB Group
LISTEN TO ARTICLE Kenya’s Central Bank has approved the takeover agreement between KCB group and the National Bank of Kenya. KCB offered to acquire the troubled lender in a share [...]CMA warns Kakamega County against meddling in Mumias Sugar
The Capital Markets Authority has warned the governor of Kakamega County Mr. Wycliffe Oparanya against interfering in the operations of the listed Sugar manufacturer Mumias Sugar Company. The governor took [...]More consolidation expected in Kenya's banking sector
Kenya boasts more than 40 commercial banks and over 24 microfinance institutions. In the past three years, there has been a wave of mergers and acquisitions in the industry with [...]DTB Q1 Earnings jump 9% to Sh 2.9 Billion
Diamond Trust Bank recorded a profit after tax of Ksh2.9 Billion in the first Quarter of 2019, a 9% increase, from the Ksh2.7 Billion recorded in the same period in [...]
