In 2020 the ultra-rich got richer. Now they’re bracing for the backlash

By Reuters,

In 2020, as the world convulsed under COVID-19 and the global economy faced its worst recession since World War II, billionaires saw their riches reac...

coronavirus , COVID-19 , President Joe Biden

From 64 branches to just 5: Retailer Tuskys nears its last breath

By Kepha Muiruri,

Troubled retailer Tuskys is nearing its last breath with its branch count having fallen to just five from a high of 64 in a little over 12 months. ...

liquidation , nakumatt , Tuskys

Serie A backs Sh221b bid for media unit stake

By Reuters,

Italy’s top-flight Serie A soccer league moved closer to selling a stake in its media business to boost virus-hit revenues when it agreed on Thursda...

Serie A

All Blacks ‘up for sale’ as virus hits funding

By Agencies,

The All Blacks rugby team is in talks with private equity investors as it struggles with the financial impact of the Covid-19 pandemic. N...

All Blacks , Covid-19 pandemic , New Zealand , private investors

NSE listed firms lose 21 percent of value in three months

By Kepha Muiruri,

Companies listed in the Nairobi Securities Exchange (NSE) lost 21 percent of their values in the first three months of the year as the domestic equiti...

coronavirus crisis , Nairobi Securities Exchange (NSE)

SME fund managers Fanisi, Ascent set to merge

By Kepha Muiruri,

Private Equity (PE) firms, Fanisi and Ascent Capital are set for a merger having agreed to consolidate the operations of their respective funds. Th...

Ascent Capital , Fanisi Capital , private equity

Bank stocks set to drive NSE Bull Run

By Kepha Muiruri,

The large capped banking sector stocks are set to drive the recovery in stock valuations at the Nairobi Securities Exchange (NSE) with analysts holdin...

Kenyan banks , Nairobi Securities Exchange (NSE) , NASI

Factbox: Who owns Europe’s leading football clubs?

By Reuters,

A group led by U.S. billionaire Daniel Friedkin is in talks to buy AS Roma although the Italian football club said a formal deal had not yet been agre...

Uhuru’s housing fund order risks Ksh.240B cash pool

By Kepha Muiruri,

President Uhuru Kenyatta’s order on the termination of mandatory contributions to the National Housing Development Fund (NHDF) has put into jeopardy...

affordable housing , National Housing Development Fund (NHDF)

Centum sets aside Ksh.2.1 billion in anticipated losses from Amu Power

By Kepha Muiruri,

Centum Investment has set aside Ksh.2.1 billion as provision for the eventuality of a loss from its funding of the distressed Amu Power Company. Th...

Amu Power Company , centum , James Mworia , Lamu coal power project

‘Greedy’ lenders to blame for feared hike on bank loan rates

By Kepha Muiruri,

The interest rate charged on your new loan is inevitably set to rise in the aftermath of the interest rate cap repeal in spite of assurances from the ...

CBK , Finance Act , interest rate caps , KBA , Treasury

Internet users in Kenya affected as SEACOM cites outage

By Citizen Reporter,

SEACOM has announced a major network outage affecting Kenya and South Africa. The company, that is behind the broadband submarine cable system alon...

Seacom , Zuku

Uganda to start new vehicle production by June 2022

By Reuters,

Uganda is aiming to start assembling new vehicles by June 2022, with an initial production capacity of 5,000 units per year, a top official of the sta...

Isaac Musasizi , Kiira Motors Corporation , uganda

Centum to sell soda business stake to Coca-Cola in Ksh.19B deal

By Kepha Muiruri,

Centum Investment Limited has entered an agreement which if successful will see the firm relinquish its entire stake in the soft drinks business to Co...

Almasi Beverages , Centum Investment , Coca-Cola Beverages Africa , James Mworia

Government Mortgage Firm to deliver Cheaper Homes

By Zeddy Sambu,

The State-backed company to implement the social housing project to advance cash to banks and saccos for on-lending to home buyers is to be launched t...

affordable housing , Big Foru Agenda , Charles Hinga , Kenya Mortgage Refinancing Company , mortgage

India’s Jet Airways finds itself out of runway as funds dry up

By Reuters,

Embattled Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected its plea for emergency funds, potentially brin...

Jet Airways , State Bank of India

SME credit guarantee a piece of a larger jigsaw – Experts

By Kepha Muiruri,

Stakeholders in the micro, small and medium enterprises (MSME) space have welcomed the establishment of a credit guarantee scheme by government termin...

interest rate caps , Kenya Bankers Association , SMEs in Kenya , State of the nation address , Viffa Consult

Prosecutors: college scam takes bribery to whole new level

By VOA,

Rich and famous parents who are accused of buying their children entrance to some of the best universities in the U.S. were part of a multilevel, year...

US

Tullow shy of 125,000 barrels to first crude shipment

By Kepha Muiruri,

British based oil exploration and production company Tullow has announced plans to step up its evacuation of crude oil from Turkana to the Changamwe h...

Africa Oil , Early Oil Pilot Scheme (EOPS) , Martin Mbogo , Ministry of Energy and Petroleum , Petroleum Principal Secretary Andrew Kamau , Total , Tullow Oil

Cannabis craze weeds out junior mining field

By Reuters,

A boom in cannabis investment is siphoning capital away from mining and hitting junior miners hardest, forcing them to up their game and potentially i...

cannabis , cape town , Zimbabwe