Author: Muindi

Kenya’s Capital Markets Authority has granted approval to Centum Real estate to issue secured zero-coupon and secured zero-coupon equity-linked Medium Notes of Ksh 4 billion with a greenshoe option of Ksh 2 billion.  According to CMA, the restricted issue targets sophisticated investors who are sufficiently versed with the risks associated with the notes, in line with Section 30(b) of the Capital Markets Act. The notes have a tenor of three years.  Proceeds from the issue will be used to fund real estate development by Centum Re, a subsidiary of Centum Investment Company Limited.  The senior secured zero-coupon notes will attract…

Carrefour, which is operated by Majid Al Futtaim in Kenya, has expanded its footprint by opening a ninth outlet at the City Mall in Nyali, Mombasa City. The new store is the first of three currently planned to be opened in the coastal region. The Nayli store covers over 2,000 square meters of selling area, the new supermarket will be home to a variety of quality products to address the immediate shopping needs of customers who live, work and vacation within Mombasa and its surrounding areas. The Nyali store offers more than 20,000 products alongside a home-made bakery section, a…

Family Bank has opened its 91st branch expanding its footprint at Wanginge market in Kiambu County to serve the ever-growing micro, small and medium-sized customer base. With this expansion, the bank now has a network of 13 branches in Kiambu County and an addition to those located in 37 counties across the country. “We are also happy to note that Family Bank is among one of the two banks that the Government will work with for the SME Fund, a vote of confidence in the Bank’s efforts towards supporting micro, small and medium-sized businesses,” said Family Bank CEO Rebecca Mbithi.…

Kenya Airways on Monday resumed its non-stop flight service to New York from Jomo Kenyatta International Airport in Nairobi. The weekly non-stop flight resumed on Sunday 29th November 2020 offering customers who book tickets before 10th December 2020 discounts.  https://twitter.com/ms_koki/status/1333389075433345024?s=20 Allan Kilavuka CEO of Kenya Airways says the New York-Nairobi route is key toward rebuilding and reconnecting Its global network as they see great signs of optimism in the recovery of air travel since we resumed flights in July.  “This optimism is also driven by the easing of restrictions for both transit and inbound passengers in Kenya as well as…

East Africa’s investment firm Centum on Friday reported a pretax loss of Ksh 2.05 billion in the second half of the year attributed to the coronavirus pandemic-induced disruptions. The company had posted Ksh 7.72 billion profit in a similar period last year.  East Africa’s investment firm Centum has posted Ksh 2.05 billion pretax loss in the first half of the company’s financial year from a Kes 7.72 billion profit the company posted in a similar period last year.  The company highly attributed the loss to the effects of the COVID-19 pandemic. The firm said its other income for the period…

Kenya Airways on Thursday started daily direct cargo flights from Mombasa to Sharjah International Airport in UAE and will gradually increase frequencies and destinations as demand grows. The introduction of a direct cargo flight schedule follows up joint discussions between KQ, the Mombasa County Government, and fresh produce stakeholders from the coastal region to enable them to transport cargo faster and more efficiently to customers outside of Kenya.  The average load of Fresh Seafood per flight is about 18.75 tonnes. Allan Kilavuka, CEO of Kenya Airways assured the fresh produce community the airline will continue to invest in growing its…