Uchumi gets Sh500m KCB loan to stock up ahead of Christmas The new loan will raise the total amount that Uchumi Supermarkets owes the KCB Group to Sh1 billion. The retailer is relying on borrowings as a temporary measure before completing the sale of non-core assets…

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…

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…

Stockbrokers now take tax case to the Court of Appeal Stockbrokers are set to move their fight against the capital gains tax (CGT) to the Court of Appeal following a High Court ruling allowing the taxman to implement the new levy. Although the Treasury secretary Henry Rotich announced last month…

KCB issues caution over proposed restructuring Kenya Commercial Bank Ltd (KCB) directors have urged shareholders and customers to exercise caution when dealing with the bank’s shares. This follows a resolution last week by the bank’s top management to undertake a restructuring which will lead to the establishment of a non-operating…