KQ’s bankers ease loan terms as carrier eyes Sh60bn bailout
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…
Centum to build 12MW plants for Two Rivers Mall
Centum to build 12MW plants for Two Rivers Mall Centum Investment is constructing solar and diesel power plants that will generate 12 megawatts (MW) of electricity to power its Two Rivers Development, a real estate project that is designed to host the largest shopping mall in…
Uchumi targets Sh5bn from new strategic investor
Uchumi targets Sh5bn from new strategic investor Uchumi Supermarkets is looking for a strategic investor to take a controlling stake in the retailer in exchange for a Sh5 billion capital injection. Uchumi plans to create an additional one billion shares to accommodate the new investor, which…
Equity processing 74 per cent of loans via Equitel mobile platform
Equity processing 74 per cent of loans via Equitel mobile platform Equity Bank processed 74 per cent of the loans disbursed this year through its mobile phone platform Equitel, the lender’s management said Monday. The bank said 1.2 million loans worth Sh5.4 billion have been processed…
Airtel’s Sh2.1bn licence renewal fee splits CA board
Airtel’s Sh2.1bn licence renewal fee splits CA board Telecommunications firm Airtel’s quest to get its frequency licence renewed without paying the required Sh2.1 billion fee has split the Communication Authority Kenya (CA) board, adding a new dimension to the seven months battle to get Kenya’s second-largest operator…
Mumias doubles full year loss to Sh6 billion on low revenues
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…
Athi River Mining says new clinker plant to boost profit margins
Athi River Mining says new clinker plant to boost profit margins Athi River Mining (ARM) Cement expects profitability to improve now that it produces its own clinker for its East African cement plants, the firm’s managing director has said. ARM Cement, East Africa’s second biggest producer…
Kenya Airways defends air ticket pricing against rivals
Kenya Airways defends air ticket pricing against rivals Kenya Airways has defended its higher air ticket prices relative to other airlines. KQ chief executive Mbuvi Ngunze on Thursday said the airline’s tickets are only priced higher during peak demand, when travellers book late and according to quality…
Bourse slips below 4,300 points in sixth successive session of losses
Bourse slips below 4,300 points in sixth successive session of losses The Nairobi Securities Exchange 20 share index fell for the sixth straight session Thursday to slip below the 4,300 points barrier for the first time this year as major counters lost ground. The index…
Keroche among big firms missing from KRA list
Keroche among big firms missing from KRA list Keroche Breweries and Mastermind Tobacco are among big companies that are yet to secure an excise tax license, and could have their products pulled from the market. The two are among those missing from an updated list…
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