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Questions CMA wants former Uchumi bosses to answer

Barely a month after being left off the hook, three former Uchumi directors James Murigu, Bartholomew Ragalo and Joyce Ogundo are back on the CMA chopping board. The regulators penalties against the three were quashed in January by Justice George Odunga but CMA has drawn up new charges. CMA wants …

Pilots association protests detention of two Kenyan pilots in South Sudan

A pilots association has protested the detention of two Kenyan pilots in South Sudan after their plane was involved in an accident. The Kenya Airline Pilots Association (KALPA) said that it was concerned by the continued detention of two Kenyan Pilots following an accident involving a Cessna Caravan aircraft, 5Y …

Disposal of another asset helps Eveready posts Sh 267 million profit.

Eveready has reported a significant jump in its profits after it disposed off another asset that lifted its earnings The battery seller reported a net profit of Sh267.2 million in the financial period ended December 31, 2017, coming from a loss of Sh206.5 million the company posted at the same …

ARM Shareholders approve sale of its fertilizer business for Sh1.3billion

Shareholders of Athi River Mining (ARM) have approved the transfer of all shares in ARM Energy Limited and in ARM Minerals and Chemicals Limited to Mavuno Fertilizers which is up for sale. In a notice to the financial markets after holding an extraordinary meeting, the firm said that the transfer …

Setback for Deacons as it loses Mr Price Franchise to MRP Kenya Limited

Fashion retailer Deacons has lost the lucrative Franchise to run Mr. Price outlets in Kenya to MRP Kenya limited in what is set to worsen its financial troubles. A notice sent to the Nairobi Securities Exchange (NSE) says that Deacons East Africa will transfer the Mr. Price franchised business on …

NIC Bank inks car financing deal with Simba Corp for Mitsubishi vehicles

NIC Bank has renewed its partnership with Simba Corporation Ltd to offer corporates, fleet owners, small and medium enterprises (SMEs) and individuals a unique financing opportunity. Under the new arrangement, Simba Corp customers will be able to get up to 95 percent financing from NIC Bank when they purchase a …

Facebook issues a new policy that bans ads that promote cryptocurrency

In a blog post on Tuesday, Facebook issued a new policy that prohibits ads that ” promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency”. The company said the new policy is designed to improve …