NCBA Bank Takes Over Unga Group’s KSh 860mn Loan from Absa
NCBA Bank Kenya has taken over a KSh 860 million loan from Absa Bank Kenya to Unga Group, which was due in June 2024. “The facility taken over by NCBA [...]
Counterfeit Electrical Equipment Incur US$600bn Losses for African Manufacturers
Weak intellectual property laws in the continent have precipitated a flourishing US$250 billion industry of counterfeit electrical products, according to a report by CBi-electric. The growing market for these illicit [...]Regulator Approves Ramco's Bid to Solely Own Kenyan Subsidiary after Amethis' Exit
The Competition Authority of Kenya (CAK) has approved the acquisition of investment holding company Ramco Plexus by its parent company Ramco Inc. “As per the parties’ submissions, this transaction will [...]Carbacid Profits Up 3.3% Amid Controversial BOC Kenya Buyout Bid
Liquefied carbon dioxide manufacturer Carbacid Investments has posted KSh 843.3 million in profit after tax for the full year ended in July 2024 a 3.3% increase from KSh 816.0 [...]China's Hexing Group to Invest KSh 1.29bn in Nairobi Assembly
Hexing Group, a Chinese manufacturer of power products, will investUS$10 million (KSh 1.29 billion) to establish a Nairobi-based assembly line for imported power products. “Hexing is excited to expand our [...]Savannah Clinker Hikes Bamburi Cement Acquisition Offer by 9.4%
A circular from listed cement maker, Bamburi Cement PLC, to its shareholders reveals that Savannah Clinker's proposed price for takeover has risen from KSh 70 per share to KSh 76.55. [...]Tata Chemicals Plans Plant Expansion to 1 Million Metric Tons
Tata Chemical Magadi Ltd. is planning to upgrade its trona-crushing plant to produce 1 million metric tons of soda ash every year, from the current 300,000 tonnes. Pursuant to section [...]Unga Group Cuts Full Year Losses to KSh669.6 Mn
Unga Group narrowed its losses to KSh669.6 million in the full year ended June 2024 from KSh959.4 million posted previously on reduced costs. Finance costs edged lower by 28.7% to [...]Food Container Maker Tupperware Files for Bankruptcy
Tupperware, maker of iconic food containers, has filed for bankruptcy after years of dwindling sales. The company was founded in 1942 by Earl Tupper, a chemist, who designed airtight seals [...]
KEDA Ceramics to Acquire Key Assets of Ramco Group's Ramoda Ceramics
The Competition Authority of Kenya (CAK) has approved the acquisition of certain assets of Ramoda Ceramics by KEDA (Kenya) Ceramics Company, which will see the latter's market share increase to [...]Bamburi Cement Issues Special Dividend, Posts H1 Loss as Shares Gain 116% in Eight Months
Bamburi Cement, which is considering two acquisition offers, is set to pay a special dividend of KSh 18.25 per share despite posting a loss for H1 2024. On the upside, [...]Crown Paints Profits Double to KSh 75 Mn
Crown Paints Kenya Plc, a listed paints and coats manufacturer (Ticker: CRWN), posted a KSh 75 million profit for the first 6 months to June 2024, a 103 percent jump [...]
