Mumias seeks Sh2bn more in Treasury bailout
Mumias seeks Sh2bn more in Treasury bailout Mumias Sugar is seeking an additional Sh2 billion bailout from the government after falling deeper into the red in the six months to December 2015. The second bailout comes after having received a Sh1 billion rescue package last June…
Closing Bell: Sasini Ltd Top Gainer as National Bank Of Kenya Ltd Declines
Sasini Ltd Top Gainer as National Bank Of Kenya Ltd Declines Sasini Ltd (SASN) was the top gainer of the day. It gained 7.69% to close at KES 21.00 which was a KES 1.50 gain in share price. National Bank Of Kenya Ltd (NBK) was the top loser of the…
Ex-KRA boss bets big on KQ with 1.1m share deal
Ex-KRA boss bets big on KQ with 1.1m share deal Michael Waweru is now the seventh-largest local individual shareholder of Kenya Airways, holding a stake valued at about Sh5.1 million at current market price. He joins billionaire investor Chris Kirubi who acquired 2.1 million shares of…
Kenya’s tea earnings to likely fall in 2016, regulator says
Kenya’s tea earnings to likely fall in 2016, regulator says Kenya is the world’s leading exporter of black tea with the commodity being a major foreign exchange earner. The Agricultural, Fisheries and Food Authority (AFFA) said total output fell 10 per cent to 399.21 million kg…
KQ hires American firm to advise on Sh60bn capital injection plan
KQ hires American firm to advise on Sh60bn capital injection plan Kenya Airways (KQ) has signed up a New-York based advisory firm to restructure its balance sheet and help it seek approximately Sh60 billion in long-term capital refinancing. KQ has appointed PJT Partners as its transaction…
NSE reclaims half of market capitalisation it lost in January
NSE reclaims half of market capitalisation it lost in January A rally in Safaricom, EABL, Equity and KCB stock prices at the Nairobi Securities Exchange (NSE) in the first week of February has helped the bourse claw back nearly half of the market capitalisation it lost…
KQ hires Deloitte for 6-year audit of financial decisions
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…
KenGen woos investors to tap surplus power
KenGen woos investors to tap surplus power The Kenya Electricity Generating Company (KenGen) has disputed claims that its energy expansion plan will result in unutilised surplus. The electricity generator says it will invest in reserve energy from green sources, in anticipation of higher demand from the…
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…
Negative net-worth to stalk KQ investors for 4 years
Negative net-worth to stalk KQ investors for 4 years Kenya Airways shareholders are likely to be stuck with a negative net-worth position for the next four years even if the company’s profit position recovers under the restructuring, analysts at Genghis Capital say. KQ is yet to…
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