UAP Life loss eats into Old Mutual capital injection

UAP Life has sunk deeper in the red with Sh453 million loss in the ten months to October, wiping out recent capital injections by South Africans and earning a downgrade of its credit outlook. South African rating agency GCR accorded the insurer recently acquired by Old Mutual a BBB+ rating on ability to settle claims but lowered its outlook to negative from stable [...]

Remu Microfinance set for Sh345m Q1 rights issue to fund small firms

Remu Microfinance Bank is preparing to raise Sh345 million from its shareholders through a cash call slated for quarter one 2016. The rights issue is part of the Sh1.7 billion the micro-lender plans to raise over the next three years through a mix of equity and debt. Remu wants to raise the cash to increase lending to its core customer base, largely small businesses with borrowing needs beginning in the tens of thousands but not exceeding Sh7 million [...]

Mombasa eyes mass rail system in talks with JICA

The county government has started negotiations with a Japanese agency to build a mass transport system to link the city to the standard gauge railway (SGR) terminus in Changamwe. The move is part of the county’s master plan to reorganise the city by 2040 and Mombasa into a vibrant economic hub [...]

Narok inks Sh2bn abattoir deal with Indian company

Narok has reached a deal with an Indian-based firm to build a Sh2 billion abattoir, offering relief to livestock farmers in the region who rely on middlemen. The county is expected to offer the investor land while the Indian firm would finance the project [...]

IBM extends its ICT driven learning push countrywide

About 3,700 teachers across the country will benefit from training in ICT integration in teaching and learning to boost students' passion in science subjects, starting January. IBM East Africa chief operating officer, Nigel Noble said during the launch that the future prosperity of Kenya depends on young people choosing STEM related subjects in order to bridge the job skills gap for todays jobs [...]