Results for Kenya
- 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
- 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 - 23:40 - 0 comments