Author: Muindi

Uganda Securities Exchange has suspended trading in shares of Uchumi Supermarkets for failure to observe listing obligations. Through a public notice, the Uganda bourse said trading in the Kenyan-based cross-listed retailer would remain suspended until it fulfils the requirements of a listed public company under USE Rules of 2021. “The problem of Uchumi has been its failure on disclosures of the company information and reporting obligations. We have found it prudent to suspend Uchumi in the interest of transparency and protecting investors in the market because they have a right to know how the company is performing,” Ms Salma N…

Caracal Gold Plc plans for a Ksh 2 billion dual listing on London Stock Exchange Plc and on Nairobi Securities Exchange (NSE). It has appointed Faida Investment Bank Limited (‘Faida’), as its financial adviser and joint broker, in relation to the proposed listing. Caracal Gold Plc, CEO Charles Tatnall, Papillon CEO says the proposed listing at the Nairobi bourse was set out in the prospectus published on 20 July 2021. “It is very pleasing to have now appointed Faida Investment Bank Limited as our financial adviser and joint broker to complete this listing in September, as well as the appointment…

WhatsApp says it will make it easier for users to archive chats and remain muted even as new messages come in. The new archive feature dubbed ‘Archived Chats’ will be available for both Android and iOS users giving them more control over their inbox and more ways to organise the Archived Chats folder. “We have heard that users want their archived messages to stay tucked away in the Archived Chats folder, instead of moving back into your main chat list when a new message arrives,” WhatsApp said in a statement. This means that any message thread that is archived will…

Kenyan manufacturers will have to brace for fresh challenges from soaring operational cost and cash flow amid the coronavirus outbreak.  According to the manufacturer’s a year after the pandemic, most of the challenges they faced continue to persist. “One year down the line, improving cash flow remains a top priority among manufacturers (67%). This is followed by increasing domestic market share (65%) while cost reduction was the third top priority,” according to a report on the impact Covid-19 on the manufacturing sector conducted by Kenya Association of Manufacturers and KPMG between May 2020 and June 2021. The survey titled, Impact…

Creditinfo Group has introduced a scorecard solution tailored to help SMEs in Kenya access easy funding from financial institutions. The global credit information and decision analytics provider says the solution will be rolled out across Africa in due course. The solution utilises a unique approach to data and algorithms to help financial institutions facilitate financing to the SME market, which has typically been less able to access finance. This is delivered in a software platform that unifies, streamlines, automates and centralizes the risk evaluation process. https://khusoko.com/2020/02/14/how-commercial-banks-track-the-creditworthiness-of-business-enterprises/ Commenting on the new venture, Burak Kilicoglu, Director of Global Markets at Creditinfo, noted…

Nairobi’s Intercontinental Hotel has kick-started the process of seeking a consultant to advise on the management of the property. Kenya Hotel Properties (KHP), the holding company that owns InterCon through a tendered notice, said: ”The terms and references are for the engagement of a qualified consultant to guide in strategic options towards best use utilisation of the firm’s property situated along Parliament Road near Holy Family Basilica,” the notice reads. “Define the various strategic options available for the company premises and adjacent parking silo to repurpose the property to ensure maximum returns on investment,” said KHP in a notice seeking…