ARM halts Kitui plant plans to sort out debts, shape up Tanzania unit
ARM halts Kitui plant plans to sort out debts, shape up Tanzania unit Athi River Mining (ARM) has postponed plans to build a new plant in Kitui until it sorts out its debts and shapes up its Tanzanian operations. The firm stated that it would build…
Closing Bell: Kakuzi Limited Top Gainer as Williamson Tea Kenya Limited Declines
Kakuzi Limited Top Gainer as Williamson Tea Kenya Limited Declines Kakuzi Limited (KUKZ) was the top gainer of the day. It gained 10% to close at KES 330.00 which was a KES 30.00 gain in share price. Williamson Tea Kenya Limited (WTK) was the top loser of the day. It…
Jubilee maintains market lead with 12.6pc of revenue
Jubilee maintains market lead with 12.6pc of revenue Jubilee Insurance has maintained its market leader position in the first half of the year, beating off competition from close rivals Britam and ICEA Lion. Jubilee’s market share stood at 12.6 per cent as at June this year,…
I&M Holdings in deal to acquire Giro Bank
I&M Holdings in deal to acquire Giro Bank I&M Holdings Ltd (IMHL) has reached an agreement to buy out tier III lender Giro Commercial Bank in a deal that will see I&M grow its asset base by Sh16.2 billion. IMHL, which is listed at the…
Rea Vipingo set to delist this month
Rea Vipingo set to delist this month Rea Vipingo is expected to delist at the Nairobi Securities Exchange (NSE) by the end of the month if the industry regulator approves the move. Chairman Richard Robinow says the sisal firm is now awaiting for the go ahead…
Equity picks a new fight with Safaricom over M-Pesa fees
Equity picks a new fight with Safaricom over M-Pesa fees Equity Bank Group has written a protest letter to the Central Bank of Kenya (CBK) objecting to Safaricom’s intended increase of charges on bank-to-MPesa transfers, which once effected will raise fees charged on Equitel — its…
Revenue grows but falling stock values hit Britam’s bottomline
Revenue grows but falling stock values hit Britam’s bottomline Kenyan insurer British American Investments (Britam) saw its profit after tax for the first half of the year fall dramatically to Sh625 million, down from Sh2.75 billion in the same period last year. Pretax profit fell to…
Closing Bell: Sameer Africa Limited Top Gainer as Housing Finance Company Limited Declines
Sameer Africa Limited Top Gainer as Housing Finance Company Limited Declines Sameer Africa Limited (FIRE) was the top gainer of the day. It gained 8.64% to close at KES 4.40 which was a KES 0.35 gain in share price. Housing Finance Company Limited (HFCK) was the top loser of the…
Mumias Sugar in more trouble with losses past Sh3bn
Mumias Sugar in more trouble with losses past Sh3bn Troubled sugar maker Mumias has sunk deeper into losses, triggering yet another profit warning. The management expects it to record losses of at least Sh3.4 billion this year, more than 25 per cent higher than the…
Closing Bell: Express Kenya Limited Top Gainer as Marshalls (E.A) Ltd Declines
Express Kenya Limited Top Gainer as Marshalls (E.A) Ltd Declines Express Kenya Limited (XPRS) was the top gainer of the day. It gained 9.78% to close at KES 5.05 which was a KES 0.45 gain in share price. Marshalls (E.A) Ltd (MASH) was the top loser of the day. It…
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