Nation Media Group’s (NMG) share buy-back program has achieved 74.23 per cent of the targeted 20,739,652 ordinary shares. The amount represents 10 per cent of the company’s issued share capital since its opening on 28th June, 2021through the Nairobi Securities Exchange at a price of Ksh25 ($0.23) per share. Shareholders approved the transaction on June 25. “Through this buyback, we believe shareholders will realise value and cash in at a reasonable price,” Wilfred Kiboro, the Group’s chairman said during the media house’s bell-ringing to launch its share buyback at the bourse. “The shares we buyback could help us in the…
Author: David Indeje
David Indeje
David Indeje is the Community Engagement Editor at Khusoko, East Africa’s leading digital business news platform. He shapes editorial content, drives audience engagement, and amplifies diverse voices. Beyond journalism, he consults on digital strategy across agriculture, governance, technology, and health, while examining AI’s role in the future of media. He also serves as Communications Officer at KICTANet, advancing digital inclusion and policy dialogue.
Tullow Oil plc, a UK-based explorer in Africa and Asia, says it will provide a project update of the Kenyan market in the second half of 2021. This is after it revealed that it is reviewing the country’s potential output volumes according to its trading and operational update ahead of the release of its half-year results in September. Tullow said the Kenya project has been through a full redesign using data from the 2018-2020 Early Oil Pilot Scheme (EOPS). “Throughout 2020, Tullow worked closely with its joint venture partners to progress the full field development plan,” the firm notes in…
Zoom Video Communications Inc has said it will begin charging Kenyan Value Added Tax (VAT) from August 1. The teleconferencing services provider became a household name and investor favorite since the coronavirus pandemic, as businesses adopted its services to hold virtual office meets and socialise. “Like many companies with a growing international presence, Zoom is routinely evaluating its indirect tax collection and remittance obligations,” the company said in a statement Monday. “The application of these taxes to businesses with online activities is a complex and evolving area.” “Zoom continues to review such developments, as well as the nature and extent…
Kenya’s public and guaranteed debt hit KSh7.7 trillion in June from KSh7.28 trillion as of December 2020., according to the Central Bank of Kenya in its weekly bulletin dated July 16. The country’s debt comprised of KSh 3,697.7 billion domestic debt (47.9 per cent) and KSh 4,015.3 billion external debt. Composition of Government Domestic Debt by Holder Commercial Banks are the leading holders of the Government’s domestic debt as of 9th July 2021, at 50.74 per cent, followed by pension funds (31.11 per cent), insurance firms (6.75 per cent), other investors ( 5.94 per cent) and Parastatals(5.45 per cent). https://khusoko.com/2021/06/10/kenyas-fiscal-deficit-at-7-5-of-gdp-in-2021-22-treasury/…
Karuturi was placed under receivership on February 10, 2014. To forestall the receivership and sale of the suit assets, Karuturi filed a suit in court and applied for an injunction restraining the auction.
Collin Morikawa wins The 149th Open to become Champion Golfer of the Year Collin Morikawa, a 24-year-old American won the British Open with a bogey-free, 4-under 66 Sunday. He overtook Louis Oosthuizen, after making three straight birdies from the seventh hole. “We are so honoured to be here on this beautiful golf course. Royal St George’s have put on a fantastic major Championship. To be called Champion Golfer of the Year means so much. Let’s keep this going,” said Morikawa. This was his first appearance at the British major, and he became the first man to win both the PGA…