The lady who went from the reception to the corner office Meet Patricia Kiwanuka, executive director of Old Mutual Investments Group who was a former Pension Advisor for East African Community Secretariat and used to be head of Business Development at PineBridge Investments East Africa and AIG Global Investment Group.

Home Afrika says 2014 profit to fall by a quarter Kenyan property developer Home Afrika Ltd said on Friday its 2014 profit would be at least 25 per cent lower than the previous year, hurt by a delay in developing its infrastructure projects during…

Treasury raises Sh24bn from 12-year reopened bond The 12-year Sh25 billion infrastructure bond tap sale (reopening) has raised Sh24 billion, meaning the Treasury has achieved its target of netting Sh50 billion from the issue. All the subscriptions to the bond were accepted and allotted at the same fixed yield rate…

KQ stock dips 30 per cent as airline flies into turbulent times Kenya Airways has shed 30 per cent over the past two months reverting to a Sh7.75 low on a series of negative corporate reports, erasing price gains made between November last year and February 2015 […] Wrigley ups…

Banks, insurance stocks slow down in first quarter Key sectors at the Nairobi Securities Exchange (NSE) including banking and insurance comparably slowed down in the first quarter of the year, with analysts saying declining attraction is depressing share prices. Analysts at Stratlink Africa say financial sector stocks still provide…

Ponzi scheme fells top Britam owner’s Mauritius bank A Mauritian bank, Bramer Banking Corporation (BBCL), associated with Britam’s director and top shareholder Dawood Rawat has lost its licence after it was found to have been running a Ponzi scheme. Mr Rawat is the single largest investor in Britam, which is…

Mumias slashes staff allowances, freezes pay increments Troubled Mumias Sugar Company has halved senior staff allowances and frozen pay increments as it struggles to climb out of the deep pit of losses it fell into two years ago. Mumias managing director Coutts Otollo informed staff of the changes, part…

Safaricom retains dominance as Airtel subscriber base gets boost Safaricom Ltd retained its pole position in Kenya’s mobile telephony industry with a subscription market share of 67.4 per cent. This is a slight increase of 0.7 per cent from 66.7 per cent recorded in the last quarter. A quarterly…

Total Kenya 2014 pre-tax profit rises 9.2 percent Fuel marketer Total Kenya said on Wednesday its pre-tax profit rose 9.2 percent in 2014, helped by stronger sales and a stable macroeconomic environment in Kenya. The group, a unit of French oil major Total, said it expects Kenya’s macroeconomic conditions to…

Equity’s returns on shareholder funds seen falling Regional lender Equity Bank could be headed for lower returns on shareholder funds as it doubles bad debt provisions and margins on interest income fall. As Equity grows its loan book, the analysts say, the return on equity (ROE) — used to measure…