Kenya Power profit drops 16pc despite surge in connections Kenya Power announced a 16.4 per cent drop in net profit for the half year ended December, as increased expenditure offset additional income earned from connecting an additional 1.1 million customers in the period. The profit drop…

India-based cement giant eyes Sh12.7bn majority ARM stake India’s largest cement manufacturer UltraTech Cement is in the race to acquire a controlling stake in Nairobi Securities Exchange-listed ARM Cement, in which it could buy convertible preference shares of up to $125 million (Sh12.7 billion). UltraTech is…

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…

Equity to refund Dyer& Blair over Sh20m paid out to fraudster Equity Bank has lost a protracted court battle with Dyer and Blair Investment Bank after the court directed it to refund over Sh20 million that was fraudulently transferred from one of its client’s account […] Banks struggle to meet…

Centum explores Sh8bn bond option in expansion plan Centum Investments is exploring the possibility of raising an estimated Sh7.5 billion from the bond market to fund its operations in various sectors of the economy. The funds are to finance Centum’s ambitious strategic plan that will focus on investments in the education,…