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Distell buys stake in Kenya Wines Agency
In a statement, Distell Group Chief Executive Officer Richard Rushton said the Sh860 million deal would give Distell access to market for several leading brands/fileNAIROBI, Kenya, Jul 21 – South...
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Banks adopt APR pricing mechanism for loans
Kenya Bankers Association Chairman Joshua Oigara says banks will now begin disclosing to loan applicants the components that makeup the total cost of credit as a percentage known as Annual Percentage...
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Ford Committed to Growth in the Middle East and Africa
Ford MEA President Jim Benintende said Ford is bringing a full family of safe, high quality, fuel efficient and fun-to-drive cars, trucks and SUVs to customers throughout the Middle East and Africa...
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Sh3.6bn loan to connect 300,000 power consumers
Chumo said the Stima Loan programme follows a successful pilot project which begun in 2010 which has seen more than 50,000 Kenyans benefit as at June 2014 at a total cost of Sh1.2 billion/FILENAIROBI,...
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Ascent Capital raises Sh4.3bn for its Equity Fund
, Ascent Capital Partner David Owino said the fund was mostly raised from pension funds with Kenyan firms’ contribution about 10 percent which translates to Sh439 million in total...
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NSE seeks Sh627mn in shares sale
NAIROBI, Kenya, July 23 -The Nairobi Securities Exchange (NSE) is set to raise Sh627 million in its sale of 66 million new shares at a price of Sh9.50 per share that was launched on Wednesday. The...
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NSSF total assets grow to Sh135bn
NSSF Chairman Adan Mohamed attributed the growth to governance and financial reforms the Fund has been carrying out over the last five years including outsourcing investment of workers’...
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4pc drop in tourist arrivals from January-May
Kenya Tourism Board (KTB) Managing Director Mureithi Ndegwa says this is due to travel advisories issued in key markets that saw a big decline in arrivals especially to Mombasa/FILENAIROBI, Kenya, July...
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Banks post Sh37bn pre-tax profit in second quarter
According to Central Bank of Kenya(CBK) latest statistics, total income stood at Sh104.0 billion in the second quarter being an increase of 9.4 percent from Sh95.05 billion in the first quarter of...
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Don’t neglect Kisumu, youths tell Uhuru
The Kisumu Youth and Business Community Association says President Kenyatta should visit the region and interact with the local youths saying they feel neglected by the Jubilee government/FILENAIROBI,...
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Equity posts Sh7.6bn H1 profit
Mwangi says the bank grew its total assets by 16 percent to Sh303 billion up from Sh262 billion recorded in June 2013 NAIROBI, Kenya July 30 – Equity Bank has recorded a 21 percent net profit growth in...
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KCB registers growth in first half profits
KCB Chief Executive Officer (CEO) Joshua Oigara says the performance was driven by improved operational efficiency, investment in alternative channels, increased lending and business...
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July was more expensive in Kenya than June
According to latest data from the Kenya National Bureau of Statistics (KNBS) housing, water, electricity, gas and other fuels index went up by 0.57 percent due to increase in prices of kerosene...
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Leaders explore joint financing for LAPSSET project
The leaders who attended a consultative meeting in Nairobi on Thursday were President Yoweri Museveni of Uganda, Prime Minister Hailemariam Desalegn of Ethiopia and President Salva Kiir Mayardit of...
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Britam’s bond becomes first corporate to trade at NSE this year
Britam Chief Executive Officer Benson Wairegi said the proceeds will fund local and regional expansion, property development and increase investment in private equity/FILENAIROBI, Kenya June 1 –...
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Centum to acquire controlling stake in K-Rep Bank
Centum, which has been a minority shareholder in the bank since 2004, stated that the acquisition of the controlling interest in K-Rep is in line with its strategic objective of expanding presence in...
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Acorn to roll out Sh40bn housing project next month
The 10 projects will include commercial buildings, hotels, retail malls and residential projects with construction expected to begin between September 2014 and March 2015/FILENAIROBI, Kenya Aug 1 –...
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Kenya to raise foreign minimum capital investment
General Electric is one of the multinationals that have set base in Kenya recently. Photo/FILE NAIROBI, Kenya, Aug 4 – The government is seeking to raise the minimum capital investment for...
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Acorn Group to build 3 business hotels in Nairobi
NAIROBI, Kenya, Aug 5 – Acorn Group Africa is planning to build three business hotels in Nairobi as the company prepares to build a chain of hotels in its Sh40 billion real estate projects in the...
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Illegal LPG trade a stinker – Igathe
The Institute’s Chairman Polycarp Igathe says 70 percent of the LPG business is illegal, pointing out that PIEA members will not take any responsibility for the integrity of most cylinders in the...
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