Stanlib extends debut Reit sale by week after investors seek clarity The sale of Stanlib Investments debut Real Estate Investment Trust (Reit) has been extended by one week after the issuer asked for more time in response to investor queries. The investment firm said fund, pension…

Airtel sets flat roaming tariff for16 African countries Airtel has introduced a flat rate tariff for its Kenya subscribers travelling to 16 countries in Africa in which it has presence, reducing the cost of making roaming calls by between 85 and 32.4 per cent. Airtel’s customers…

Mumias doubles full year loss to Sh6 billion on low revenues Mumias Sugar financial woes deepened after the miller doubled its loss before tax to Sh6.31 billion in the year ended June 2015 from Sh3.41 billion. The sugar miller’s full-year after tax loss increased from Sh2.7…

Uchumi sub-tenants get order halting eviction Sub-tenants in Uchumi Supermarkets have secured a court order delaying their eviction by 14 days from the September 15 deadline given by the retailer. Eighteen speciality shop owners claimed they had not been given adequate notice when they pleaded with…

CIC General rating up after Sh800m capital injection CIC General Insurance’s outlook has been upgraded to ‘stable’ from a ‘negative’ rating following a capital injection last year.The capital injection nearly doubled the insurer’s previous capital base of Sh900 million to Sh1.7 billion. South African Global Credit…

Treasury scraps controversial 5pc capital gains tax after rejection Treasury secretary Henry Rotich has scrapped the controversial five per cent tax on the gains made from selling shares and instead introduced a 0.3 per cent withholding tax on sales value. Resistance by the Kenya Association…

Banks demand retrenchment insurance for borrowers Commercial banks are increasingly demanding insurance cover against retrenchment for customers seeking personal loans, signaling increased concerns over the rising load of bad debts. Commercial Bank of Kenya (CBA) last week announced a requirement for salaried borrowers seeking secured and…