Kenya

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Kenya's NIC Bank Appointed To Assess Assets Of Closed Imperial Bank

with deposits of up to 1 million shillings ($9,886.31) would receive funds in full, while those with ...

Daily Headline - global.abi.org - 06/21/2016 - 20:15 - 0 comments

Uchumi Faces Insolvency as Pressure From Creditors and Suppliers Mounts

Kenya's Uchumi Supermarkets Ltd is on the verge of insolvency as efforts to negotiate a cash injection hit a snag in the first quarter of 2016. Its debt to suppliers has skyrocketed to Ksh3.6 billion ($36 million), double the Ksh1.8 billion ($18 mil ...

Daily Headline - global.abi.org - 04/04/2016 - 22:49 - 0 comments

Kenya's Central Bank Delays Imperial Bank Resolution

Kenya's central bank said on Thursday it would require another three months of investigation to determine the fate of Imperial Bank, which was put into receivership in October, delaying a resolution that had been scheduled for the end of this month, ...

Daily Headline - global.abi.org - 03/31/2016 - 22:53 - 0 comments

Kenya Economy Under Fire From World Bank

Kenya’s economic growth has failed to keep pace with its peers and the country needs to “step up a gear” if it is to achieve its long-term goals, the World Bank has concluded in a major report on east Africa’s largest economy, the Financial Times rep ...

Daily Headline - global.abi.org - 03/08/2016 - 23:23 - 0 comments

Fraud Found At Kenya's Imperial Bank But Still Viable

The receiver for Kenya's privately owned Imperial Bank (IBL) found substantial fraud but the bank is still viable and shareholders are considering a proposal to inject capital, the central bank said on Tuesday. Imperial Bank was put into receivershi ...

Daily Headline - global.abi.org - 10/27/2015 - 21:47 - 0 comments

Kenya Central Bank Will Offer "Adequate Liquidity" After Imperial Bank Case

Kenya's central bank on Wednesday said it was ready to provide "adequate liquidity" to the country's banking system after a mid-sized lender was put into receivership a day earlier and hit banking shares on the stock market, Reuters r ...

Daily Headline - global.abi.org - 10/14/2015 - 22:14 - 0 comments

Uchumi Fires CEO Who Rescued Kenyan Retailer From Bankruptcy

Uchumi Supermarkets Ltd., Kenya’s only publicly traded retailer, fired two top executives amid a forensic audit and announced plans to hire a management consultancy to review its business strategy. The stock slumped. Chief Executive Officer Jonathan Cian ...

Daily Headline - global.abi.org - 06/15/2015 - 22:11 - 0 comments

Building Competitive Green Industries

Much of the emphasis on climate change has been on urging countries to act to avoid environmental catastrophe. This new report, “Building Competitive Green Industries: the Climate and Clean Technology Opportunity for Developing Countries”, frames respond ...

Resource Article - abi_admin - 12/11/2014 - 17:43 - 0 comments - 0 attachments

Giant Coffee Union's Receivership Now Lifted

Kenya Planters’ Co-operative Union’s (KPCU) receivership has been lifted by the Kenya Commercial Bank. The development comes after the farmers’ union agreed to the new conditions set by the bank before it could waive the bankruptcy notice, Standard Digit ...

Daily Headline - global.abi.org - 07/07/2014 - 23:09 - 0 comments

Nzoia Sugar Company Denies Insolvency Claims

Nzoia Sugar Company has denied a report by the Auditor General last week that indicated that it is technically insolvent and operating on a negative working capital, allAfrica.com reported. The company is reported to have debts amounting to Sh16billion h ...

Daily Headline - global.abi.org - 12/09/2013 - 00:14 - 0 comments

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