Cytonn Asset Managers has received a license from the Capital Markets Authority to operate as a REITs (Real Estate Investment Trusts) Manager. The asset management subsidiary of Cytonn Investments Plc becomes the ninth Kenyan fund manager to be granted a REIT Manager License by CMA. REITS are regulated investment vehicles that allow collective investment in real estate where both retail and corporate investors pool their funds and then engage in real estate projects. “Financing structures such as REIT’s and real estate backed funds such as high yield fund, offer a capital markets based solution to raising funds towards real estate…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Struggling fashion retailer Deacons East Africa (East Africa) PLC (Under Administration) has called for an extraordinary meeting of shareholders in March to raise Kshs 450 Million required to settle the Company’s outstanding creditors and secured lenders. Through an order from the Joint Administrators (PKF) the meeting will be held on Tuesday, 05 March 2019. J.L.G Maonga, Company Secretary Deacons, said one of the key agenda items will be “To consider and, if thought fit, to pass the following Ordinary Resolution: “That in order for the Company to raise the amount of up to Kenya Shillings Four Hundred and Fifty Million…
NIC Bank and Toyota Kenya have entered into an assets deal that will see enterprises access 80% financing on the total cost of a Toyota HINO truck, payable within 60 months, in an effort to grow the uptake of commercial motor vehicles in the country. The trucks available for financing include three tonne (300 series), four and six tonne trucks (500 FC series) with KSh3.3 million, KSh3.45 and KSh4.5 million bodies, respectively. Toyota Kenya Managing Director, Arvinder Reel said the company is well cognisant of the big role financing plays in the total cost of ownership of a motor vehicle.…
An Artists Xchange project by Content House Kenya reveals “Turkana as a place of great beauty” seen from the eyes of Picha Marangi, a photographer and stylist from Kibera, and Elizabeth Korikel, a translator, beading artist, and singer. Through the “Flyest Wedding in Africa” a fictional art, “Each day at work they complemented each other’s style, struck by how they both loved the bold colour and statement pieces. Along the way love blossomed. To celebrate their nuptials, they created looks that incorporated their shared love for vivid colour.” Elizabeth’s beading work and Picha Marangi’s redesigned thrifted clothes. These are their…
Applications are now being accepted for the 2019 BAKE Awards 2019 by the Bloggers Association of Kenya (BAKE), an annual competition that has helped recognise and celebrates outstanding bloggers in different categories. “This year we have introduced one new category: Podcast, bringing the number of categories to 24. The rule that makes three-time (or more) winners in the competition ineligible to compete, still stand,” James Wamathai, Director, Partnerships at BAKE said in the announcement. Other categories include: 1. Technology Blog 2. Photography Blog 3. Creative Writing Blog 4. Business Blog 5. Food Blog 6. Environmental Blog 7. Fashion and Style Blog…
The National Hospital Insurance Fund (NHIF) has unveiled a joint partnership to enhance access to a crucial drug for local prostate cancer patients. The partnership will see Janssen one of the pharmaceutical companies of Johnson &Johnson, make one of its innovative medicines used for the treatment of advanced prostate cancer available at a subsidized rate for NHIF members The Janssen Kenya Prostate cancer program in conjunction with Axios International, a specialized healthcare access company, will provide significant cost savings to NHIF members, and seeks to support efforts by NHIF to adopt new low-cost service delivery models by embracing public-private partnerships…