Bamburi Cement Plc has finalized the sale of its 70% stake (1,335,600 ordinary shares) in Hima Cement Limited, a Ugandan cement company, to Sarrai Group Limited and Rwimi Holdings Limited. The total transaction value for the 70% stake is estimated at USD 84 million. This follows the transaction’s approval by Bamburi Cement shareholders in December 2023. The Nairobi Securities Exchange (NSE) confirmed its completion on March 5, 2023. Swiss firm Cementia Holding AG acquired the remaining 30% stake (572,400 ordinary shares) in Hima Cement Limited. “Bamburi is pleased to announce that all the conditions precedent to the Transaction have been…
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.
Jubilee Health Insurance offers numerous benefits that assist individuals, families, and businesses manage healthcare costs and access essential medical services when needed. Here are the top 10 advantages: 1. Financial Protection: Jubilee Health Insurance safeguards individuals from high and unexpected medical expenses by covering a significant portion of the costs related to medical treatments, hospital stays, surgeries, and prescription medications. Affordable covers like Coverbora cater to all Kenyan households, ensuring health insurance doesn’t break the bank. Additionally, paying through installments is available for those unable to afford the entire amount upfront. 2. Access to a Wide Network of Healthcare Providers…
A new report by PwC reveals cautious optimism among Kenyan chief executives regarding the global economy. While 58% acknowledge inflation as a significant threat, most (56%) express confidence in their companies’ revenue growth over the next three years. This mirrors a global trend, with 54% of CEOs worldwide anticipating improvement or stability in the global economy within the same timeframe. Innovation Drives Growth The report, Navigating growth prospects with cautious optimism” highlights the power of innovation, with 60% of Kenyan CEOs attributing 20% of their 2023 sales to new products or services launched in the past three years. Adapting to…
The February Stanbic Group Purchasing Manager’s Index (PMI) indicates the first positive growth in Kenya’s private sector in six months. The PMI climbed to 51.3 from 49.8 in January, exceeding the 50-point growth threshold for the first time since August 2023. “There was a notable expansion in private sector activity in February, with output increasing in agriculture, manufacturing, and services. However, construction, wholesale and retail activity slipped. Firms noted improved consumer demand as assisting higher output and new orders,” Christopher Legilisho, an economist at Standard Bank, commented. “Increased new orders spurred inventory stocking, with some firms wanting to avoid product shortages…
Equity Bank customers can now instantly withdraw their funds received through PayPal, compared to the previous 24-hour waiting period. This improvement helps businesses and individuals manage cash flow more effectively and supports the growing trend of cross-border trade. “The reduced settlement period will support businesses and individuals in managing their cash flows better and more effectively,” Equity Bank Kenya Managing Director Gerald Warui said. The reduced settlement period will support businesses and individuals in managing their cash flows better and more effectively and support the growing trend of cross-border trade. Customers can make withdrawals through the Equity Mobile App and Equity Online. Customers must…
The Kenyan tea industry performed exceptionally well in 2023, with record-breaking production and export earnings. According to the Kenya Tea Industry performance highlights, export earnings hit a record high of Sh180.57 billion in 2023, surpassing Sh138.09 billion in 2022 and Sh136.59 billion in 2021. The total marketed value was Sh196.97 billion, including Sh16.4 billion from domestic sales. Tea production hit a record high of 570 million kg, compared to 535 million kg in 2022 (a 6.58% increase).