KQ hires Deloitte for 6-year audit of financial decisions The Kenya Airways’ board has appointed consulting firm Deloitte to undertake a forensic audit of the airline’s financial decisions dating back six years. Deloitte joins a growing list of consultants that the airline has engaged as its…

KQ’s bankers ease loan terms as carrier eyes Sh60bn bailout National carrier Kenya Airways’ local bankers have agreed to extend the tenure of their existing short-term loans, giving the airline breathing space to secure a Sh60 billion bailout which the CEO expects to source in six…

Express Kenya CEO Hector Diniz edges closer to owning 71 per cent of its shares Hector Diniz is set to control 70.9 per cent of listed firm Express Kenya, where he is CEO, if a plan to convert a Sh60 million debt owed to his companies…

Chase Bank Q3 profit up 28 pc on increased lending Chase Bank’s net profit for the first nine months of the year grew by a third on the back of increased lending and higher earnings from fees and commissions. The mid-tier lender has announced an after-tax…

Safaricom eyes SMEs in cash transfer deal for Lipa na M-Pesa with 8 banks Safaricom has signed a deal with eight more banks to offer retailers real-time money transfer from the Lipa na M-Pesa tills to their banks accounts, a move aimed at recruiting more merchants…

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…

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…

Muthoka firm,Africa Flight Services, wins China Southern’s cargo business China Southern Airlines has hired a firm associated with billionaire businessman Peter Muthoka to handle its cargo business, making his company one of the biggest beneficiaries of the entry of the giant Asian carrier into Kenya. The airline is mainly targeting the…

Tanzania puts EABL on notice over Serengeti Breweries deal Beer maker EABL could be forced to sell part of or its entire 51 per cent shareholding in Serengeti Breweries as part of regulatory action by Tanzania’s competition watchdog. Tanzania’s competition watchdog has given notice of intention…