Co-op to invest in KMRC as half year profit hits Ksh7.1bn

By Citizen,

The Co-operative Bank of Kenya has become the first financial institution to declare its interest in injecting capital in the government’s planned m...

banking , Co-op , Cooperative Bank , Gideon Muriuki , government securities , Kenya Mortgage Refinance Company , KMRC , non-performing loans , Treasury

African Guarantee Fund eyes SMEs with Sh2.6bn funding kitty

By Citizen Team,

Small and medium sized companies are set to benefit from Ksh2.6 billion in funding from the African Guarantee Fund. The funding comes as a bridge f...

African Guarantee Fund , agro business , energy , interest rate cap , investment , SME , Trade , Traders , working capital

Argentina hoping it’s Messi’s year at World Cup

By AFP,

Twenty years ago Enrique Dominguez was coaching 10-year-olds at Newell's Old Boys in Argentina when he saw Lionel Messi for the first time. He remembe...

Lionel Messi , Russia 2018 , World cup

National Bank in pre-tax profit as State promises to inject Ksh.4.2B capital

By Citizen Reporter,

National Bank of Kenya is expected to receive a Ksh.4.2 billion capital injection from two of its leading shareholders The funds, to be disbursed b...

National Bank of Kenya , NSSF , Wilfred Musau

Uchumi faces auction over Sh67m debt

By Sophie Kinoti,

Struggling retailer Uchumi has 15 days to settle a Sh67.6 million debt to a supplier or face auction. Euromat limited, a local supplier has been gi...

auction , bailout , debt , Euromat Limited , retail , strategic investor , uchumi

President Kenyatta outlines six priorities for his second term

By Benjamin Muriuki,

President Uhuru Kenyatta was on Tuesday, November 28, 2017, sworn in for his second and final term in office at the Kasarani Sports Stadium in an even...

Jubilee manifesto , Uhuru Kenyatta sworn in , uhuru kenyatta's second term agenda , Uhuru outlines six priorities for his second term , Uhuru swearing in at kasarani , uhuru's second term

Uchumi narrows full year loss to Sh1.7bn

By Citizen,

Uchumi Supermarkets restructuring efforts have began bearing fruit with the retailer narrowing its full year to June loss by 39 percent. In the lat...

dispose non core assets , dividend , financial performance , full year results , government loan , Julius Kipng'etich , nakumatt , regional operations , restructuring plan , strategic investor , Uchumi supermarkets

ARM Cement opens search for a strategic investor

By Reuters,

ARM Cement is seeking a strategic investor to provide equity capital, the chief executive said on Friday, after its shares plunged following problems ...

ARM cement , ckinker , construction , Dangote Cement , debt , LafargeHolcim's Bamburi Cement , Pradeep Paunrana , strategic investor

Uchumi taps former Nakumatt Exec. Dixon as COO

By Citizen,

Listed retailer Uchumi Supermarkets has appointed Andrew Dixon as its chief operating officer (COO) as it continues to tie up its revival plans. Mr...

Andrew Dixon , Julius Kipng'etich , nakumatt , nse , retail , strategic investor , Tesco , turnaround strategy , uchumi

Florida Executes Convicted Killer Using Untested Drug

By VOA,

The U.S. state of Florida has carried out its first execution in nearly two years, using an anesthetic never before included in the mixture of drugs u...

Retail analysts call for resolution to Nakumatt woes

By Mumbi Warui,

Analysts now say that all attempts must be made to solve the current financial crisis of Nakumatt. This they say is because the firm plays a critic...

banks , business , debt restructuring , nakumatt , Odhiambo Ramogi , retail , retail economy , shopping malls , uchumi

NSSF backs National Bank with Sh2.9bn in fresh capital

By Mumbi Warui,

The National Bank of Kenya (NBK) received a major capital boost with its main shareholder the national social security fund pumping in Sh2.9 billion. ...

Central Bank of Kenya , consolidation , KCB Group , national bank , National Treasury , NSSF , shareholder loan

What next for Barcelona after losing La Liga?

By AFP,

Barcelona face a summer of reconstruction after their grip on the La Liga title was ended by newly-crowned champions Real Madrid. Here are five key...

KMC eyes strategic investor to inject Sh5bn

By Dennis Otieno,

The government is in talks with an Israel based firm with the hopes of having it pump five billion shillings into the revival of the Kenya Meat Commis...

Adan Mohamed , africa , Andrew Tuimur , business , butchery , international trade , investment , Israel , kenya meat commission , market share , meat , Middle East , slaughter house , strategic investor

‘Sad’ Berlusconi wants success for new Milan owners

By AFP,

Media tycoon Silvio Berlusconi expressed sadness Thursday at selling AC Milan after 31 years in charge and called on the Serie A giants' new Chinese o...

New era for Italian ‘calcio’ as Chinese buy AC Milan

By AFP,

Serie A giants AC Milan were sold to Rossoneri Sport Investment Lux on Thursday in a deal which sees the Chinese-led consortium take a 99.9% stake in ...

AC Milan , chinese , Chinese Super League , football , Inter Milan , italian serie A

Uchumi cuts half-year loss to Sh547.3m

By Citizen,

Uchumi Supermarkets restructuring plans continue to pay off, with the retailer cutting its half-year loss by nearly half a billion shillings. In th...

bailout , capital raising plan , cautious stock policy , cost management , Julis Kipng'etich , National Treasury , restructuring plan , retail , return to profitability , sale of non core assets , strategic investor , suppliers , Trade , uchumi , Uchumi Express

Nakumatt engages suppliers to stock emptying shelves

By Citizen,

Regional retailer Nakumatt’s woes look to be far from over even it closes in on a strategic partner to inject capital into the business. The cash...

Andrew Dixon , Atul Shah , expansion , Genghis Capital , Geoffery Gangla , nakumatt , regional retailer , renegotiate supply contracts , supplier debt , suppliers , supply chain , Tesco , Tuskys , uchumi

Nakumatt opens 3rd Rwanda store, remains mum on capital injection

By Ephraim Mugo,

Despite facing financial constrain, regional retailer Nakumatt has opened its third branch in Kigali Rwanda. The move is part of Nakumatt’s regio...

Atul Shah , capital injection , cash flow challenges , expansion , financial constrain , harun mwau , kenya , nakumatt , Nakumatt Holdings , NextGen Mall , Rwanda , suppliers , uganda

Treasury allocates Uchumi Sh500m in first tranche of bailout package

By Sophie Kinoti,

The National Treasury has allocated half a billion shillings to cash strapped Uchumi Supermarkets, as part of government efforts to revive the retaile...

bailout , Christmas Shopping , Dr Julius Kipng'etich , first tranche in the bailout , National Treasury , offer liquidity support , restructure the business , supplier debt , suppliers , uchumi , Uchumi supermarkets