The future of debt-laden ARM Cement PLC (NSE:ARM) will be determined the end of October, according to a statement by the company’s administrators, PricewaterhouseCoopers (pwc). The statement announced the first meeting of creditors will take place in Nairobi on 23 October. ARM Cement was placed under administration in August 2018 to give it an opportunity to recover by keeping away creditors from attaching its property with Muniu Thoiti and George Weru of PwC taking over the management. Creditors will vote on whether to liquidate it or give it more time to raise new capital. Read: What does it mean when a…
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.
National Treasury’s cuts on development spending plans have received a thumbs down from financial and economic analysts who have termed it ‘not growth-friendly’. “A path where much of the burden of fiscal consolidation is disproportionately shouldered by development spending, as is the case in Kenya, undermines the underlying growth potential of the Kenyan economy,” said the World Bank in its 18th Kenya Economic Update (KEU). “In this regard, there is a need to recalibrate the balance between development and recurrent expenditures, with the latter bearing a higher share of the expenditure containment.” The World Bank says this can be…
The Constitution thereof bestows the highest power of the country of Kenya on the people of Kenya and everybody else is subordinate to the people of Kenya.
Sharon Wendo is a young woman passionate about entrepreneurship and design. She is the founder, CEO, and Creative Director of Epic African Jewellery.
Equity Bank Group emerged as the most stable banks in the world in terms of Capital Adequacy Ratio (CAR), a measure of the bank’s financial stability according to the Top 1000 World Banks 2018 ranking. The lender was ranked 35th globally and first in Kenya ranking at 799 with KSh84.8 billion ($848 million) in Tier 1 capital. This shows that it has moved seven places up, compared with the 806th position it was placed last year. The lender was also categorised position 11 on profit and loss assets, 35th on the bank’s capital risk-weighted assets, and 44th on profits on…
Kenya is among Sub-Saharan African countries leading in the transparency of the real estate market according to JLL & LaSalle’s 10th edition of the Index Global Real Estate Transparency Index. “The Sub-Saharan Africa region has seen limited progress over the last two years, with improvements led by the regional hubs – Nigeria and Kenya.” Kenya was ranked under ‘semi-transparent’ at number 53 with a score of 3.29 points out of 100 nations and 158 cities. Nigeria was ranked at position 67. The report observes that “Government data initiatives have been important in raising transparency levels, with Kenya and Rwanda digitising their…