Portland Cement Reports KSh1.5 Billion HY Loss
East African Portland Cement has posted the unaudited results for the six month period ending December 31, 2019 as follows: • Revenue rose 8.1% y/y to KSh1.4 billion • Cost [...]
EPRA New Tariffs to Favour Manufacturers
The Energy and Petroleum Regulation Authority (EPRA) has introduced new electricity tariffs, that are set to be a huge relief for manufacturers. As Citizen reports, the new tariffs will enable [...]
Africa Finance Corporation Increases Investment in Gabon
Africa Finance Corporation (AFC) has increased it stake in Gabon's Special Economic Zone (SEZ) from 21% to 26%, after investing an additional $52.8 million. Since its inception in 2010, Gabon's [...]Poor cash flow, bad weather hit businesses PMI
Overall activity levels contracted solidly at the start of this year, as firms reported that a lack of money at households led to slower demand. Matters were made worse by [...]
Construction Of a Multi-Million Milk Cooling Plant Begins
The construction of the new Kenya Co-operative Creameries (KCC) milk cooling plant in Meru has began, an investment that will cost the government KSh250 million. The plant, which will have [...]Price War Erupts in the Cement Business
A vicious price war has erupted in the cement business as new players challenge control of the market by already established firms. This is happening as each firm in the [...]Ethiopia Lays Out Corporates' Privatization Plan
Ethiopia corporates privatization plans are on high gear as government releases the privatization timelines of state corporations. Bloomberg reports that Ethiopia will first sell six of the sugar monopoly's holdings [...]Kisumu Now Ready for Special Economic Zone
Kisumu County has secured land that will enable the development of a Special Economic Zone (SEZ) in Miwani. The land, which spans across 10,000 acres, will aid in purging the [...]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, [...]EABL Relief as Government Grants Tax Exemption on Select Beer
Relief has dawned on East African Breweries Limited (EABL) after the government exempted excise tax on alcohol made from sorghum, millet and cassava by 95%. This comes at a strategic [...]National Cement Completes Acquisition of ARM Cement Assets
National Cement has completed the acquisition of ARM's Kenya assets by paying KSh5 billion to ARM's administrators, Price Waterhouse Coopers (PwC). Henceforth, all Kenyan assets of ARM Cement belong to [...]KCB Recalls KSh263 Million Loan to EAPCC
East African Portland Cement Company (EAPCC) has defaulted on a KSh263 Million loan it took from KCB Bank, prompting the lender to recall the credit facilities, reports PricewaterhouseCoopers (PwC). This [...]
