Results for Kenya
- 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 - 20:47 - 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 - 21:14 - 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 - 21:11 - 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 - 16:43 - 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 - 22:09 - 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 - 12/08/2013 - 23:14 - 0 comments
- Cabinet Approves Telkom Restructuring Plans
The Kenyan government has approved a restructuring plan to bolster the operations of stricken fixed line operator Telkom Kenya, Standard Digital reports. The new proposals include the recapitalisation of the firm via a KES10 billion (USD115.6 million) ca ...
Daily Headline - global.abi.org - 11/26/2012 - 22:40 - 0 comments
- Banks Face Probe Over Emergency Loans
Commercial banks that borrow from the Central Bank of Kenya (CBK’s) emergency lending window more than twice in a week will be investigated, Business Daily Africa reported. In a circular elaborating on the new market-based operations, CBK said banks usin ...
Daily Headline - global.abi.org - 11/03/2011 - 20:58 - 0 comments
- Uchumi Supermarkets of Kenya Gains as Investor Flight Eases
Uchumi Supermarkets Ltd., which resumed trading in May after a five-year suspension, advanced for the first day in as sell-offs by long-time shareholders slowed down, Bloomberg Businessweek reported. “We have seen the tail-end of the selling pressure of ...
Daily Headline - global.abi.org - 10/11/2011 - 18:37 - 0 comments
- Consumers Feel The Heat From Rise In Cost Of Loans
Kenyans who were attracted to bank loans by last year’s low interest rates are headed for tough times as the lenders raise the cost of money to protect their margins against inflation and exchange rate turbulence, Business Daily Africa reported. The real ...
Daily Headline - global.abi.org - 09/28/2011 - 21:04 - 0 comments