Shoe and leather accessories retailer, Nairobi Business Ventures Limited (NBV), has announced plans to acquire four businesses in Kenya, a deal that could be worth up to KSh3 billion. Through a public notice, the retailer intends to purchase 100 per cent ownership in Delta Automobile, a leading heavy commercial vehicle maintenance company; Air Direct, an aviation company; and Aviation Management Solution Limited. It also intends to purchase an 11.33 hectares parcel of land in Machakos County to be used to set up a cement manufacturing facility. ABC Capital is the transaction advisor for the deal and MW & Company advocates…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Private equity firm, Fusion Capital, has raised KShs 800 million for completion of Greenwood City Mall in Meru from local and international investors. Fusion had previously structured the financing of the mall as a Development Real Estate Investment Trust (D-Reit) achieving a 38% subscription against the set threshold of 50% subscription. However, shareholders of Meru Greenwood Park dropped the DREIT in favour of private funding for the development. The KSh800 million is a follow-on investment from the original investment of about $4.3 million hence total funding of about $12 million (KSh1.2 billion). “We have a first-mover advantage in Meru and…
Adaptis Capital, a Kenyan Investment Management Company, says it is now all set to enter the US market to link-local investors to the US stock markets. The firm says this will be through its American office, Adaptis Capital Inc. “For investors looking to diversify their portfolio and maximize their return on investment, this strategic move by The Adaptis Group will provide them the opportunity to invest in the world’s largest economy, allowing them to hedge against geopolitical and economic risks as well as a chance to invest in the world’s largest companies,” said Kenneth Mantu the CEO of The Adaptis…
British sprinter Mark Cavendish makes a return to the 2021 Tour de France for the first time since 2018. The 36-year-old will be part of Deceuninck-QuickStep’s eight-man squad. He replaces Sam Bennett who is down with a knee injury. “I am delighted to be going back to the Tour de France with Deceuninck-Quick Step,” Cavendish, 36, said in a team statement ahead of the race that begins Saturday. “Obviously, the circumstances with Sam could be better – he had a special Tour last year and I am sad for him not being able to defend his green jersey. But at…
Equity Group Foundation and the Kenya COVID-19 Fund Board on Thursday said they are supporting Kenya’s Covid-19 response by donating personal protective equipment (PPE) for healthcare workers to 25 mission hospitals. The hospitals are affiliated with the Kenya Conference of Catholic Bishops (KCCB) and the Christian Health Association of Kenya (CHAK). The PPEs are valued at Ksh 33 million and include 750 protective goggles, 25,000 disposable gowns, 500,000 nitrile gloves, 500,000 surgical masks, 750 face shields, 12,500 disposable scrubs, 25,000 headcovers, 5,000 coveralls and 50,000 KN95 respirator masks. “Through KCCB and CHAK, we received a request to support 60 mission…
The Central Bank of Kenya (CBK) raised Ksh 19.7 billion from the sale of its re-opened two 20-year bonds on Wednesday on behalf of the National Treasury. The bonds, FXD1/2012/20 with 17.9 years to maturity and FXD1/2019/20 with 11.4 years to maturity were meant to raise Ksh 30 billion. During the auction, the bonds received bids worth Ksh.64.9 billion, a 216.4 per cent subscription rate. The CBK, however, only accepted bids worth Ksh 19.7 billion with Ksh 6.3 billion from FXD1/2012/20 and Ksh 13.4Bn from FXD1/2019/20. https://twitter.com/CBKKenya/status/1405162626749980673?s=20 “We attribute the oversubscription to the low target amount (Ksh 30 billion) and…