Author: Muindi

Amsons Group successfully acquired a 96.54% stake in Bamburi Cement, exceeding the threshold required for a potential delisting from the Nairobi Securities Exchange (NSE). The takeover commenced with a block trade of 137.1 million shares on December 18th, 2024. A subsequent transaction on December 19th acquired 212.7 million shares, bringing the total acquired to 350.4 million shares. Savannah Clinker withdrew its offer, leaving Amsons as the sole bidder. Delisting Potential With over 90% shareholding, Amsons may seek to delist Bamburi Cement from the NSE, subject to regulatory approvals. Fincem Holding Limited and Kencem Holding Limited were the largest shareholders, each…

Kenya Railways has introduced additional passenger trips on the Kisumu Safari Train, effective January 15, 2025. Revised Schedule Nairobi to Kisumu: Departures on Mondays, Wednesdays, and Fridays at 4:00 PM from Nairobi Central Station. Kisumu to Nairobi: Departures on Tuesdays, Wednesdays, and Sundays at 6:30 PM from Kisumu Railway Station. Kisumu Safari Train The Kisumu Safari Train offers a scenic journey with stops at various stations between Nairobi and Kisumu, including Line Saba, Kibera, Satellite, and more. Nairobi to Kisumu: Departs every Friday. Kisumu to Nairobi: Departs every Sunday. pic.twitter.com/5RoUr2wvER — Kenya Railways (@KenyaRailways_) December 19, 2024 The relaunch of…

Sanlam Kenya Plc (NSE: SLAM), a leading non-banking financial services provider, has received shareholder approval for a Ksh 3.25 billion rights issue. This capital injection aims to enhance the company’s financial health, reduce debt, and fuel future growth. At an Extraordinary General Meeting (EGM) held on December 11th, shareholders authorized the company to increase its share capital to facilitate the rights issue. This will involve issuing up to 1 billion new ordinary shares at a nominal Ksh 5 each. Sanlam Kenya Chairman Dr John Simba stated that the primary objective of the rights issue is to repay an existing loan…

A recent report by the Common Market for Eastern and Southern Africa (COMESA) Competition Commission reveals that oil firms in the region, including Kenya, overcharged consumers by KSh 67.7 billion between July 2021 and December 2022. The report, Vegetable Oil Value Chain in East and Southern Africa”, indicates that Kenyan manufacturers sold cooking oil at an average price of KSh 333 per litre, significantly exceeding the fair price of KSh 274 per litre. This overpricing was attributed to factors such as rising global commodity prices and inflation, but the report suggests that the increases were disproportionate to the actual cost…

The Macadamia Nuts Association (MACNUT) has welcomed a court decision that has temporarily halted the implementation of a government directive allowing the export of raw macadamia nuts to China. The association and a group of farmers had challenged the directive, arguing that it would negatively impact local processors and farmers. The court has scheduled a final ruling on the matter for February 16, 2025. MACNUT and other parties have been given two weeks to file their responses. Impact on Local Industry and Farmers The export directive has caused significant concerns among local processors and farmers. The influx of raw nuts…

Guaranty Trust Bank Kenya (GTBank Kenya) has launched GTMazao, a new product designed to empower small and medium-sized enterprises (SMEs) in Kenya. This innovative offering is part of GTBank Kenya’s 10th anniversary celebrations, reflecting the bank’s commitment to providing innovative financial solutions. GTMazao offers SMEs a unique opportunity to earn interest on their bank balances without any transaction limits. “We thank our customers for their trust and loyalty,” said Jubril Adenji, Managing Director of GTBank Kenya. “GTMazao reflects our commitment to driving economic growth by empowering SMEs. We look forward to continuing to deliver innovative financial solutions.” This flexible and…