Kenya Orchards 27% Profit Increase
Kenya Orchards Limited has released its financial results for the year ended 31st December 2012. The company’s profit before tax increased by an impressive 100.9% in the year moving up from Kshs. 620,520 in the previous period to Kshs. 1,246,812 in the year ended December 2011. Profit after tax increased…
Nigerian Company may get a stake in ARM.
Africa Finance Corporation, a Nigeria- based development-finance institution that is providing a $50 million convertible loan to Athi River Mining Limited (ARM), may get a 13.62 percent stake in the Kenyan cement maker if the loan is converted into equity. A convertible loan is similar…
Ngenye Kariuki & Company Limited to Return to NSE
On December 19th 2011, the Capital Markets Authority (CMA) resolved to revoke the statutory management of Ngenye Kariuki & Company Limited. Mrs. Stella Kilonzo, the Chief Executive Officer of the CMA, said the revocation of the statutory management was positive and that it was geared at facilitating completion…
Never Say This To Your Boss.
Have you ever opened your mouth, in all innocence, said something to your boss or senior and regreted the same every single day it flashes through your mind? Well, sometimes you might get away with some things if it is family or friends or even business partners you…
Users Complaining Of M-Pesa Delays
There appears to have been a problem with M-Pesa systems since yesterday as most users have complained of not having received money sent to them through the service. By this morning the problem appeared to have been resolved though a few users are still experiencing long delays in their transactions.
Property Developers Biased to Residential Buildings.
Property developers have in the recent days preferred to develop residential buildings which have a shorter payback period as opposed to commercial real estate. Data from the Kenya National Bureau of Statistics shows that the value of residential building plans rose from Sh66 billion in…
KNBS Expected To Release CPI and Inflation Rates Today
Kenya National Bureau of Statistics (KNBS) is expected to release the Consumer Price Index (CPI) and inflation rates for March 2012 any time today. The Consumer Price Index for the month of February 2012 decreased by 0.04% from 130.82 in January 2012 to 130.76…
ARM reports 7% increase in profits to 1.15 billion
Athi River Mining yesterday reported an after tax profit of Ksh 1,150,498 for the year ended December 31st 2011. This is a 7% increase in their profits from Ksh 1,075,268 for the same period the previous year. Group Turnover increased by 37% from Ksh. 5.96 billion in 2010 to…
Monthly NHIF Contribution To Increase
Your monthly NHIF Contributions to increase as of next month
NIC Bank plans 2 Billion Shilling Rights Issue
Yesterday Mr James Macharia, NIC Bank’s chief executive officer, announced that plans were underway to complete a Ksh 2 billion rights issue by end of July, this would make it the second listed firm after Kenya Airways to tap the capital markets this year. The rights issue is…
Housing Finance AGM
Housing Finance Company of Kenya Limited has announced that its 45th annual general meeting will be held in Nairobi on Friday 27th April 2012 at the Bomas of Kenya Auditorium at 11:00am. The agenda includes, among other items, to receive and, if approved, to adopt the audited balance sheet…
NIC Bank to join the Agency Banking Wagon
On Wednesday, NIC Bank entered into an agency banking partnership agreement with Kenya Post Office Savings Bank (Postbank). This means that NIC Bank customers will be able to benefit from Postbank’s wider branch network of 97 as compared to NIC’s 20 branches. They will be able to make…
Equity Bank to give more loans to SMEs
Equity Bank Group announced that it has teamed up with the International Finance Corporation (IFC) to extend more loans to micro, small and medium size enterprises, agricultural projects and women entrepreneurs in the region at a press conference held at their headquarters on Wednesday 28th March 2012. The…
Wondering What the QWERTY Movement Business is all about?
You must have heard this over the media: The QWERT movement is Nokia East Africa latest aggressive marketing strategy as they introduce four models of a new range of QWERTY keypad mobile phones dubbed Nokia Asha family into the Kenyan market. These include Asha 200, 201,…
Nairobi Has The Fastest Growing Luxury Real Estate Prices on The Planet
It’s no secret real estate prices in Nairobi have seen phenomenal growth over the last 10 years, driven by an improving economy, rural-urban migration, easier access to home loans and increasingly wealthy Kenyans abroad investing their money back home. What is surprising though, is that in 2011, prices at…
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