CfC Stanbic sees a rise in corporate bond issuance Standard Bank of South Africa majority-owned CfC Stanbic expects an increase in corporate bond issues in the coming year. The bank projects an increase from this year’s issuance of about Sh14 billion, which is lower than previous…

Mumias Sugar Company Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Mumias Sugar Company Ltd (MSC) was the top gainer of the day. It gained 10% to close at KES 1.65 which was a KES 0.15 gain in share price. Atlas Development and Support Services Ltd (ADSS)…

EABL loses Sh240m claim against former top manager Beer maker East African Breweries Limited has lost a Sh240 million claim against an ex-employee whom it accused of using a shell company to steal from the firm. High Court judge Joseph Sergon on Friday dismissed a…

EABL up for earnings boost from bottling unit disposal Beer maker East African Breweries Limited’s (EABL) earnings this year are set to get a major boost following conclusion of the sale of its glass bottle manufacturing subsidiary. The brewer Thursday announced that the sale of Central…

Telcos regulator board meets on Monday over Airtel licence renewal The board of the Communications Authority of Kenya (CA) is set to meet on Monday to discuss the renewal of Airtel Kenya’s licence, which expired seven months ago. The Monday meeting comes on the backdrop of a…

Family Bank gets nod to issue Sh10bn bond in expansion plans Family Bank has received approval to issue a Sh10 billion bond as it seeks to fund its expansion plan. The mid-sized lender targets to issue the first tranche of the bond at the end of…

Safaricom unveils fund for innovations Safaricom Foundation, the corporate social investment arm of Safaricom Limited, has launched a Sh50 million fund targeting investors in the social innovation field who may need technical and entrepreneurship support to develop and deploy mobile technology. The fund will empower young…

Electricity users to pay more as levies hit record highs Consumers face a double-barrelled increments in their August power bills as after the energy regulator moved to significantly raise fuel and currency fluctuation levies. The Energy Regulatory Commission (ERC) has adjusted fuel cost on electricity consumed…

Top foreign funds see returns on NSE equities drop 11pc The top-five foreign mutual funds investing in Kenya have seen their returns decline by an average of 11 per cent year-to-date, a new report by consultancy PricewaterhouseCoopers shows.Investor returns have taken a hit from the…

EABL records 9pc sales growth on uptake of spirits Beer maker EABL recorded a nine per cent growth in net sales for the full year to June, a statement released by the UK parent company Diageo showed Thursday.East African Breweries Limited’s full-year earnings were primarily…