Centum to build 12MW plants for Two Rivers Mall

Centum Investment is constructing solar and diesel power plants that will generate 12 megawatts (MW) of electricity to power its Two Rivers Development, a real estate project that is designed to host the largest shopping mall in the region. Centum has secured a licence from the energy regulator to generate and supply electricity at the mixed-use commercial development that comprises a mega shopping mall, hotel, office blocks and apartments [...]

Co-op places agents inside banking halls as model stepped up

Co-operative Bank has become the first lender to station agents inside branches in a bid to eventually woo customers from its banking halls and lure them to use alternative banking channels. The move is likely to see [...]

T-bond rates rise signals return of expensive credit

The interest rate on the 10-year bond issued this month hit 16.1 per cent beckoning more expensive credit even as the Central Bank of Kenya (CBK) left the base lending rates untouched in Wednesday’s MPC meeting. The willingness by the government to pay a premium on both the short- and longer-term debt also signals need to have the heavy January maturities [...]

CBK maintains currency reserves at Sh718bn on dollar mop-up plan

The CBK’s confidence in buying dollars from the market in recent weeks is in sharp contrast with the sales seen in the third quarter of last year when a volatile shilling had sunk to nearly a four-year low of 106 to the greenback.  The CBK sees Kenya’s current account deficit falling to 8.5 per cent of gross domestic product when the figures for 2015 are released [...]

Safaricom to launch targeted post-paid plans

Safaricom is set to launch a new post-paid tariff plan that will cost between Sh1,249 and Sh19,999 per month for a pre-set amount of talk time, SMS and data usage. The operator in an internal memo told its staff last week that the new plan will be made available to pre-paid customers based on their monthly spend [...]

PE fund eyes Kenya insurance companies after Sh35bn boost

Private equity firm LeapFrog Investments has secured $350 million (Sh35.7 billion) funding from a US-based insurer, part of which will be used to acquire a stake in life insurance firms in the country [...]

Dubai Bank founder makes fresh Sh2bn capital injection claim

The collapsed Dubai Bank founder and former chairman Hassan Zubeidi claims that a local investor has offered to pump $20 million (about Sh2 billion) into the troubled lender to revive it following a failed acquisition bid by Virgin Islands-based Sovereign Financial Holdings [...]

Shelter Afrique starts building 200 Everest Park phase II houses

Shelter Afrique and developer Everest Park are building phase II of the Everest Park that will see an additional 200 housing units and a commercial centre put up by the end of the year [...]

Canadian firm to raise Sh210m for Kenya oil exploration

Canadian firm Simba Energy hopes to raise up to Sh210 million for exploration of its northern Kenya block from the just-concluded private share placement. The firm closed the offer last week and says it will use the funds for work on Block 2A [...]

Nairobi taxi drivers launch own battle against Uber

Kenyan taxi drivers have launched their own version of the ongoing global revolt against taxi hailing service Uber, arguing that its pricing model is driving them out of business [...]