NSE sets stage for counties to raise health funds from Reits

The Nairobi Securities Exchange (NSE) has announced it will launch Real Estate Investment Trust (Reit) for the health and water sectors in the counties. The NSE said it is ready to launch share units for both income and development purposes this year. The move opens the way for companies to tap the market for building capital or dispose of assets through public sale [...]

Stanlib to list Sh9bn property units on bourse

Stanlib Investments plans to list a Sh9 billion Real Estate Investment Trust (Reit) at the bourse in the next two months. Stanlib said it will package a mix of properties and sell them as Reits (property share units) in June this year. The investment firm has a property portfolio of Sh15 billion, but the Kenya-focused Reit will list real-estate assets worth just Sh9 billion [...]

Eveready in partnership bid with Orbit Chemicals

Eveready East Africa is set to enter into a joint venture with manufacturing firm Orbit Chemicals that will see the battery maker deepen its diversification by producing more personal care products. Eveready East Africa will seek shareholder approval mid next month to form a joint venture company of equal stakes with Orbit Chemicals with the aim of producing common goods [...]

Athi River Mining eyes State projects with new high grade cement

ARM Cement  has joined the list of manufacturers producing high grade cement that is suitable for heavy duty construction works such as bridges, skyscraper foundations, pre-cast slabs and beams and railway sleepers. This is after it was issued with a Kenya Bureau of Standards certificate to produce the cement late last year [...]

CBK steps in to halt shilling slump

The Central Bank of Kenya on Tuesday moved to calm the market as the shilling continued its slide to a new three- year low of 93.40 units to the US dollar. CBK on Tuesday said the shilling was being weakened by a combination of a stronger dollar and rising demand from local companies, even as it assured the market that it has enough reserves to support the local currency if need be and would continue to use appropriate monetary policy instruments to minimise exchange rate volatility [...]

Anti-competition fine by CAK alarms insurance firms

The CAK said it plans to institute a compliance programme to abolish minimum charges that associations set for members in a move which, if implemented to the letter, could affect profit margins in the insurance industry. The Competition Authority of Kenya (CAK) on Wednesday said it had fined the Association of Kenya Reinsurers (AKR) Sh721,000 for setting minimum rates to insurance companies tendering to offer group life cover to National Intelligence Service (NIS) employees [...]

Qataris aid Kenya’s bid for centre to clear Chinese currency

Gas-rich Qatar has formally signed up to help Kenya set up the Nairobi International Financial Centre (NIFC) that is hoped to aid Nairobi’s push to host the coveted Chinese renminbi currency clearing centre. Treasury Secretary Henry Rotich, and Qatari finance minister Ali Al-Emadi signed a memorandum of understanding for the establishment of the Nairobi International Financial Centre (NIFC) [...]