Tanzania puts EABL on notice over Serengeti Breweries deal

Beer maker EABL could be forced to sell part of or its entire 51 per cent shareholding in Serengeti Breweries as part of regulatory action by Tanzania’s competition watchdog. Tanzania’s competition watchdog has given notice of intention to withdraw approval for EABL's acquisition of Serengeti for Sh4.9 billion in 2010, citing breach of takeover conditions. The regulator said that EABL had agreed to ensure that Serengeti grows faster under its control than it was doing prior to the transaction but had failed to meet expectations [...]

Former NSE chief Mwangi to head UAP-Old Mutual

Peter Mwangi, who was hired after retiring from the NSE to head Old Mutual Kenya in October last year, has now been promoted. MrMwangi will head the UAP-Old Mutual Group that emerged from the consolidation of the two companies [...]

Chase Bank becomes first bank to deal in treasury bonds

The Capital Markets Authority (CMA) has approved mid-tier Chase Bank as the first authorised securities dealer, meaning it can bypass brokers to trade directly in bonds. Chase Bank has been licenced to buy and sell bonds in the secondary market as well as underwrite issues of such securities [...]

Jamii Bora weighs capital boost options

Jamii Bora Bank has hinted that it is searching for a strategic investor to boost its capital even as it explores other methods of raising cash. Chief executive Samuel Kimani said on Tuesday the bank is considering a rights issue, convertible debt or a strategic investor to boost its balance sheet [...]

Facebook eyes Kenya office after South Africa entry

Facebook has listed Kenya among its key business growth hubs in Africa, as it opened its first office on the continent in Johannesburg. Facebook is seeking to partner with governments, telecom operators, and other agencies to deliver localised solutions to African advertisers and users. The social media firm is facing shrinking advertisement revenue in its traditional markets led by the US and Canada [...]