Author: David Indeje

Cold Solutions Kenya Limited has invested KSh7.5 billion to construct state-of-the-art, temperature-controlled cold storage warehouses in the country. The firm will construct Cold Solution flagship facility in Tatu City Special Economic Zone in Nairobi, with other facilities located in Mombasa. The 15,000 square meters grade ‘A’ cold storage complex will span across six acres at Tatu City and will be the country’s largest, most advanced and efficient in the region. The facility is expected to be operational in 12 to 18 months. It has been flexibly designed to cater to numerous temperature ranges from +26 to -40 degrees Celsius and…

Genghis Capital, an investment and stock brokerage firm advises TransCentury Plc shareholders to seek more clarity before it delists from the Nairobi Securities Exchange. According to Genghis, the Infrastructure Company since its listing by introduction 9 years ago ‘has been a disappointment to investors (listing price Ksh 50, latest pre-announcement price Ksh 1.61) despite its industrial-heavy portfolio of investments in Power, Infrastructure Projects and Engineering across 14 countries in East, Central and Southern Africa.” In a notice, last week, TransCenturytold its shareholders it was seeking to delist from the NSE in order to meet precondition for accessing new capital from…

Ogutu was recognised for championing gender equality in the energy sector Kenya’s Ogutu Okudo Founder and CEO of Women in Energy & Extractives Africa  (WIOGEA) is the 2020 recipient of the Emerging Leader Award by Global Energy Show. The announcement was made at the Global Energy Show Awards that serve to celebrate leaders who drive change and shine a spotlight on excellence. Ogutu was honoured for being a Focus Area Champion for gender equality in the energy sector, as well as for helping to provide 1 million people in rural communities across Africa and Asia with affordable, sustainable off-grid solutions. …

TransCentury PLC on Thursday said it has kickstarted the process to seek shareholder’s nod for delisting the company. This inline with ongoing strategic initiatives by the company as outlined in its Ahidi 2018-2022 strategy plan. The overarching objective of the strategy is to deliver consistent, sustainable, attractive returns to the shareholders, through transformative and innovative investments, and in return attract the right investment opportunity, capital, partners and talent. The Group Chief Executive Officer Mr. Nganga Njiinu said: “While we have seen liquidity reduce in the capital markets across the region, we have also seen an increase in funding that is…

Kenya on Wednesday begun initial talks on the free trade agreement with the United States that will end in two weeks. In a joint statement, trade ministers for the two countries, Betty Maina and Robert Lighthizer said, “We believe this agreement with Kenya will complement Africa’s regional integration efforts, including in the East African Community and the landmark African Continental Free Trade Area.” Maina said the FTA was crucial to “secure trade and investment relations” ahead of the expiry of the African Growth and Opportunity Act (AGOA) in 2025. https://youtu.be/Isgs491NvZc **** On Tuesday, Betty said Kenya will continue to push…

The Central Bank of Kenya (CBK) says its next meeting of the Monetary Policy Committee (MPC) will be held on July 29. At its last meeting in June, the bank left its benchmark lending rate unchanged for the second time in two months at 7.0 percent. https://twitter.com/CBKKenya/status/1280407222011473921?s=20 The MPC in a bid to support the economy met five times reducing the Central Bank Rate CBR) to 7.00 percent from 8.25 percent at the beginning of the year. According to Cytonn Investments, they rate security and inflation as positive, investor sentiments (neutral) and government borrowing, exchange rate, interest rates, and GDP …