PRIME Former KRA chair acquires Sh1.6bn stake in HF Group HF is the top performing bank at the Nairobi bourse, having gained 64.3 percent over the past six months to Sh6.72, ahead of Cooperative Bank (24.1 percent), Absa Group (22.7 percent) and Stanbic...
PRIME KQ pegs Sh142bn debt payment on strategic investor deal KQ says the payment debts owed to local banks, the State and external financiers are hinged on the infusion of funding into the business.
PRIME IRA seeks tighter scrutiny of money laundering life insurers The country was grey-listed in February 2024 by the Financial Action Task Force —a global anti-money laundering and terrorism financing watchdog —which cited shortcomings in the country’s...
PRIME EV firms eye carbon credits sale for new revenues BasiGo is among the most advanced in the carbon finance space, with plans to begin trading verified carbon credits by the end of the next quarter.
Judge blocks seizure of assets in drug trafficking case The targeted properties are a parcel of land in Mavoko and two motor vehicles, which ARA alleged were acquired using funds generated from dealing or trading in narcotics substances.
PRIME Ex-KCB executive gets Sh9m for wrongful dismissal Court said Roy Sylvester Akala was not guilty of the allegations levelled against him by the bank.
Kenya eyes Sh70bn Adani-type deals to finance infrastructure gap The increased use of PPPs to finance infrastructure projects is aimed at reducing the use of debt and taxes to build roads, airports, power plants and electricity transmission lines
PRIME Chase Bank ordered to refund excess interest charged on a loan The court issued the order even as it held that the bank’s former receiver, Kenya Deposit Insurance Corporation (KDIC), could not be held liable for liabilities of the lender.
PRIME Inside Consolidated Bank management mess Consolidated Bank has been in the red for the last 9 years with losses wiping out its core capital to negative Sh731 million at the end of December 2024.
PRIME Stanbic loses quest to block Sh32m breach of contract payout The case arose from a 2011 tender floated by KPA for the supply of 10 pneumatic rubber fenders.
PRIME Equity fails in bid to stop award for drugged client The court heard that Mr Kagai lost the card at Kenol Makutano area, Mwea, after being hugged by a woman.
PRIME Britam flooded with 10,000 applications for 200 jobs While the company hired 200 people and rejected 9,800 applicants, its headcount grew by only 47 people.
PRIME Stanbic warns bank customers of spike in midnight fraud Stanbic Bank says unsuspecting revellers — mainly millenials — are being tricked into revealing their passwords.
PRIME Ex-manager gets Sh8m for unfair dismissal by EABL grain subsidiary John Kiriga was dismissed in February 2020 for allegedly breaching the company’s code of conduct by falsifying and misrepresenting barley stock records, which the company claimed resulted in a...
PRIME Luxury Naivasha resort on auction over Sh900m debt The luxurious resort is situated on Moi South Lake Road, about 18 kilometres off Naivasha-Maai Mahiu- Nairobi Road and 23 km from Naivasha Town.
PRIME EV bus firm BasiGo doubles assembly after raising Sh5.4bn Founded in 2021, BasiGo was Kenya’s first electric bus company and remains the only local assembler of e-buses.
PRIME Mobius new owner set to resume vehicle assembly in 6 months Mobius was founded over 14 years ago with a total investment of approximately Sh5 billion.
PRIME KAA blocked from cancelling airport security tender, launching costlier bid The Public Procurement Administrative Review Board ruled that termination of the procurement proceedings was illegal.
PRIME Britam buys Sh764m stake in Nigerian reinsurer in revenue push The insurer has disclosed the deal in the latest annual report, explaining that the acquisition was through its wholly-owned subsidiary—Britam Life Assurance Company (Kenya).
Developers lose ownership claim for Nairobi water reservoir land The judge declared that the owners had no good title/interest over their respective plots and were a nullity.
Absa Bank recovers Sh227 million lost to fraud as incidents rise Absa noted that cyber security threats continue to require keen vigilance and continuous investments to protect the bank and its stakeholders from cyber criminals.
PRIME State loans to KQ hit Sh108bn on interest KQ’s total loans stood at Sh142.7 billion by the end of 2024, up from Sh141 billion a year earlier, mainly due to accrued interest on government and aircraft loans.
Sanlam Kenya parent rules out buyout of minorities The multinational said it will not be forcefully taking over the shares of the small shareholders in the Kenyan unit despite the option being triggered by its shareholder rising to 71.47 percent.
PRIME NSSF’s 29-year wait for Sh905m KRA tax refund Auditor General says the refund relates to 1996 and 1997 income tax return mistakenly paid to KRA.
