Treasury aims to raise KES 15bn with reopening of 15-year paper

The National Treasury is seeking to raise KES 15 billion in a 15-year bond sale. The fixed-income paper, which offers 10.25% as interest payable twice a year, closes next Tuesday, November 18. The Treasury has avoided offering such long-dated securities to the market with none above 15 years having been floated since 2012. [...]

Diamond Trust Bank (DTB) 9-month pretax profit up 17%

DTB's pretax profit for the first nine months of the year rose to KES 6.24 billion ($69.29 million) from KES 5.33 billion in the first nine months of 2013. Net interest income climbed 18% to KES 9.3 billion. [...]

Uchumi Blames Supply Woes On Failed Loan Deal

Uchumi supermarkets blames the supply challenges it has lately been going through to a collapsed loan deal with an undisclosed foreign bank. Its chief executive Jonathan Ciano at an annual general meeting yesterday said the lender walked off after three months of due diligence forcing Uchumi to turn to Co-operative Bank for KES 500 million in asset finance. [...]

Toyota wins design deal for KES 350bn Uganda-Kenya crude oil pipeline

Kenya, Uganda and Rwanda have up to the end of January to find financiers of the KES 350 billion ($4 billion) Hoima-Lokichar-Lamu crude oil pipeline after they settled on Toyota Tsusho on Thursday as a consultant for the project. Each country will carry out implementation in the area within their jurisdiction. [...]

Court restricts Safaricom from selling SIM cards bearing man's photo until case is determined

Mobile communication service provider Safaricom Limited has been temporarily restrained from using or selling its GSM Sim Cards bearing a Maasai moran photograph. High Court judge David Onyancha issued the orders yesterday after the man who was allegedly photographed field a suit protesting that his image was used by the telecom company without his consent. [...]