Safaricom sues Airtel in M-Pesa trademark dispute
Safaricom sues Airtel in M-Pesa trademark dispute Safaricom has taken rival telecommunications company Airtel to court on claims that it is infringing on its M-Pesa trademark by including its symbols on its advertising billboards […] Chase Bank 7yr note debuts on secondary market…
Closing Bell: Mumias Sugar Top Gainer as Kenya Airways Declines
Closing Bell: Mumias Sugar Top Gainer as Kenya Airways Declines Mumias Sugar Company (MSC) was the top gainer at the NSE. It gained 8.11% to close the day at KES 2.00 which was a KES 0.15 gain in share price. Kenya Airways (KQ) was…
Agency set to watch more bank clients in terror cash hunt
Agency set to watch more bank clients in terror cash hunt The Treasury has moved to boost the fight against terrorism financing by widening the scope of investigation to include most of the bank transactions. Treasury secretary, Henry Rotich has empowered the Financial Reporting Centre (FRC)…
Uchumi seeks CEO, meets suppliers over debt
Uchumi seeks CEO, meets suppliers over debt Uchumi Supermarkets has appointed consultancy firm Deloitte to headhunt a new chief executive officer less than a week after the board of directors sacked Mr Jonathan Ciano alongside chief finance officer Chadwick Omondi Okumu. This comes as Uchumi board…
Centum eyes Rea Vipingo land for property
Centum eyes Rea Vipingo land for property Centum Investments is crafting a master plan for its recently acquired Rea Vipingo land at the Coast that could see some of the farmland converted into real estate. The Vipingo land is also ideal for Centum’s plan to invest…
Closing Bell: Eaagads Limited Top gainer as Liberty Kenya Holdings Declines
Closing Bell: Eaagads Limited Top gainer as Liberty Kenya Holdings Declines Eaagads Limited (EGAD) was the top gainer at the NSE. It gained 9.09% to close the day at KES 36.00 which was a KES 3.00 gain in share price. Liberty Kenya Holdings (CFCI) was the top loser with a…
Centum’s profit jumps to Sh7.9bn on sale of UAP
Centum’s profit jumps to Sh7.9bn on sale of UAP Centum earned Sh5.2 billion from the sale of its 13 per cent stake in UAP Holdings to Old Mutual, making a gain of Sh2.8 billion over the book value of the stock.The investment firm also exited two…
Closing Bell: Williamson Tea and Limuru Tea Top Gainers
Closing Bell: Williamson Tea and Limuru Tea Top Gainers Williamson Tea Kenya (WTK) and Limuru Tea were the top gainers at the NSE. Both gained 10.00% to close at KES 396.00 and 1045.00 respectively which were KES 36.00 and 95.00 gains in share price. British-American Investments (BRIT) was the…
Old Mutual gets approval to acquire UAP Holdings stake
Old Mutual gets approval to acquire UAP Holdings stake Old Mutual can now acquire a 37.3 per cent stake of UAP Holdings, following approval of the transaction by regulators.The acquisition is expected to hand Old Mutual a 60.7 per cent stake in UAP Holdings on completion.Old Mutual in January…
Closing Bell: Standard Group Top Gainer as Express Kenya Declines
Closing Bell: Standard Group Top Gainer as Express Kenya Declines Standard Group Limited was the top gainer at the NSE. It gained 9.70% to close the day at KES 36.75 which was a KES 3.25 gain in share price. Express Kenya Limited was the top loser…
Uchumi sends Ciano packing as it launches forensic audit
Uchumi sends Ciano packing as it launches forensic audit Uchumi Supermarkets’ board has let go of chief executive Jonathan Ciano even as it opened a forensic audit into the cash flow problems that have in recent weeks left the retail chain with empty shelves. Owino Ayodo, the general manager, operations,…
Closing Bell: Williamson Tea Kenya top Gainer of the day
Closing Bell: Williamson Tea Kenya top Gainer of the day Williamson Tea Kenya (WTK) was the top gainer at the NSE. It gained 32.08% to close the day at KES 350 which was a KES 85 gain in share price. Uchumi Supermarket Limited (UCHM) was the…
Why Britam restated its profit after declaration
Why Britam restated its profit after declaration Investment firm Britam has said the recent downward revision of its 2014 profit by Sh342.3 million came out of an erroneous accounting of its ownership of a 21.4-acre piece of land in Ngong’.Bramer Properties Limited, a fully owned Britam…
NSE welcomes pro-investor budget measures
NSE welcomes pro-investor budget measures Nairobi Securities Exchange (NSE) officials have applauded three of the measures proposed in Treasury secretary Henry Rotich’s budget statement Thursday. For example, exemption of shares from Capital Gains Tax (CGT); plans to introduce mobile-based bond purchases. Exemption from stamp duty of…
Closing Bell: NIC Bank Top Gainer as BOC Gases Declines
Closing Bell: NIC Bank Top Gainer as BOC Gases Declines NIC Bank was the top gainer at the NSE. It gained 5.88% to close the day at KES 54.00 which was a KES 3.00 gain in share price. BOC gases was the top loser with a loss of 5.51% to…
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