Author: Khusoko

A bid by Rubis Energie, to acquire 100 percent of Kenolkobil has hit a stumbling block with Kenya’s Capital Market Authority after it launched investigations into alleged irregular shares trade on Wednesday. CMA said its market surveillance had identified potentially irregular trading of KenolKobil shares in the run-up to the Rubis bid announcement in which it had acquired 367,793,124 ordinary shares at a market price of Ksh 15.30 per share. “Consequently, in connection with these investigations the Authority has instructed the Central Depository and Settlement Corporation to place a freeze on the suspected accounts to allow for the conduct of…

Airtel Africa Ltd, a subsidiary of India’s Bharti Airtel Ltd, has raised close to KSh126 billion from Singtel, Warburg Pincus, Temasek, SoftBank Group International, and others through a primary equity issuance to lower its existing debt and grow its business ahead of an intended Initial Public Offering. “This primary equity issuance clearly underlines the confidence of leading global investors in Airtel Africa’s successful business strategy and its potential to sustain growth and profitability,” said Raghunath Mandava, MD and CEO, Africa, Bharti Airtel. “Airtel Africa subsequently intends an Initial Public Offering (IPO) and use the proceeds primarily for further reduction of…

At Ksh 23 per share, Rubis’ takeover offer would value KenolKobil at USD353 million – Rubis SCA French fuel storage and distribution company Rubis SCA has announced its takeover bid for Kenyan oil marketer KenolKobil Ltd. Rubis, a downstream fuel industry specialist in fuel retailing, support and services including refining, shipping, supply, and terminal operations with operations in 35 countries across Europe, the Caribbean, Africa, and the Indian Ocean seeks to buy out the remaining shares for KSh23.4 billion. It currently owns 24.99% percent (367,793,124 shares) at Ksh 15.30 held by Wells Petroleum. KenolKobil has 1,471,761,200 issued and listed shares (75.01%…

PayPal Inc has made a strategic investment in Tala to further its mission to deliver financial access to more underserved consumers around the world. Mark Britto, PayPal Senior VP and GM of Global Credit said: “Tala shares our vision of re-imagining financial services, especially for the unbanked and those underserved by the traditional financial system.” The undisclosed investment according to Tala CEO and Founder Shivani Siroya would further the mission to reach more consumers and deliver the financial access, choice and control to more people. “Tala is driven by the belief that all people deserve to be seen, understood and…

Telkom Kenya has launched a competitive voice bundle across all networks that have been custom designed to fit the budgets and communication needs of their customers. With the new package – All-Network-Bundles, will see customers on the network make calls for as low as KSh1.50 cents, per minute. The bundles, spaced out into four tiers, will see customers pay KSh 19 for a daily bundle, through to KSh199 for a 30-day bundle. Read: Telkom Subscribers to pay more for voice calls and data Telkom’s CEO, Aldo Mareuse says: “At Telkom, we are committed to consistently deliver more value to our customers…

Telkom Kenya and Airtel have finally revised their cost for voice calls and data as a result of the increased taxes passed in the Finance Act 2018. This is in relation to the Excise Duty tax applicable on Voice, SMS and Data services was increased from 10% to 15%. “Although these additional taxes will lead to an increase in the cost of Voice and Data services to our customers, Telkom remains committed to deliver best value to them,” said Aldo Mareuse, Chief Executive Officer Telkom in a statement. “However, Mobile Data Bundle prices will not be affected,” said the CEO.…