Centum Real Estate Limited, a subsidiary of Centum Investment Company, forecast weaker earnings for the fiscal year 2022. The company expects its unaudited financial results for the year ended March 31st, 2022, to be at least 25 per cent lower than reported in the comparative year in 2021. “The decline in performance is primarily due to lower revaluation gains on investment property in the year ended 2022 compared to those posted in the year ended 2021,” it said in an emailed statement. Accordingly, IFRS requires companies that hold investment property to conduct independent annual revaluations of their investment property and…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Limuru Tea Company Ltd, one of Kenya’s agricultural firms engaged in growing green leaf tea, has received a notice of intention from ekaterra Tea Kenya to acquire a 100 per cent stake in the company. Ekaterra Tea Kenya Plc owns a 52 per cent stake in the Nairobi-listed Limuru Tea Plc. Limuru Tea owns 282 acres of tea plantations in Limuru. According to Limuru Tea, ekaterra Kenya has proposed to make a cash offer to acquire up to 100 per cent of the ordinary shares in the capital of Limuru TeaPlc that are not already legally or beneficially owned by…
Day trading is the practice of purchasing and selling a security within a single day or trading session or multiple times over the course of the day.
Kenya has 8,500 individuals with a net worth of over $1 million (KSh117 million).
Branch International is the first mobile digital lender to acquire a majority stake (84.89 per cent) in a banking institution
Tea farmers will receive 371.1 billion shillings as bonus payments for the fiscal year ending June 2022. According to Kenya Tea Development Authority (KTDA), this is the highest second payment in the last four production years. https://twitter.com/KTDATea/status/1543466828315377665?s=20&t=pC5RHDpo8ZKN26i2gMeOxw Factories in the west of Rift Valley recorded the most significant improvement in payment with an average increase of more than 55.1 per cent, while those in the east recorded a 38.1 per cent growth. Sanganyi factory registered a 100 per cent increment, Kiamokama (84 per cent) and Kapsara (81 per cent). This year, Sanganyi will pay its farmers Sh48 per kilo of…