We deliver a summary of important business news in Kenya to you this morning:

Uchumi acquires Dar supermarket in growth drive

Uchumi supermarket has acquired a store in Tanzania as part of its expansion plan in that market. Chief executive Jonathan Ciano said acquisition of the outlet from Dar es Salaam-based Sifamart Supermarkets was concluded last week in a deal financed by debt. Uchumi is yet to decide whether to take over a second branch operated by Sifamart in the same city. [...]

Ormat Technologies (ORA) Reports 25-Year PPA and Steam Supply Agreement in Kenya

New York Stock Exchange listed Ormat Technologies Incorporated yesterday announced that its majority owned Kenyan subsidiary (the Project Company) owned by Ormat (51%), Symbion Power LLC (24.5%) and Civicon Ltd. (24.5%), signed a 25-year Power Purchase Agreement (PPA) with Kenya Power and Lighting Co. Ltd (KPLC) and a project implementation and steam supply agreement (PISSA) with Geothermal Development Company (GDC) for the 35 MW Menengai geothermal project in Kenya.

Under the PISSA agreement, the Project Company will finance, design, construct, install, operate and maintain the Menengai steam plant on a build-own-operate (BOO) basis for 25 years. [...]

Rea Vipingo acquisition case settled out of court

Centum Investment Limited has settled out of court a case it filed at the High Court contesting the takeover of  plantation firm, Rea Vipingo. The court heard that the investment company would not continue with the case it had filed against Treasury Cabinet Secretary Henry Rotich and Capital Markets Authority over formation of a tribunal that would listen to Centum’s plaint over the sale of Africa’s biggest Sisal producer. [...]

Co-operative Bank of Kenya Receives Security Certification

Co-operative Bank of Kenya has received ISO/IEC 27001:2013 certification making it the first Bank in East Africa to achieve this security certification. ISO 27001 is an international information security standard, and certification provides independent assurance that Co-op bank staff can effectively operate a comprehensive security program and manage information security risks effectively. [...]

Safaricom to announce half year results today

Safaricom Ltd will be announcing its Interim Results for the period ended 30th September 2014 on 4th November 2014 at 1600hrs (+3.00 GMT). Live broadcast of the results announcement will also be shared on company web page. The Results presentation and Press commentary will be available on company website www.safaricom.co.ke under the Investor Relations webpage on 4th November 2014 at 1700hrs.