The Board of TransCentury PLC has extended the Ksh2 billion rights issue offer to February 3, 2023. “Upon request from some shareholders, the TransCentury Board has considered and agreed to extend the rights issue offer,” the company said in a statement on Tuesday. “The company has received approval from the regulator on the same.” The cash call opened on December 29. Proceeds of the rights issue will be used to settle debts owed to creditors, repay part of the holding company debt owed to lenders, and unlock additional working capital financing for the Group and its subsidiary businesses. Trans Century…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
More than 130 children living with disabilities at Eldoret’s Jawabu Rehabilitation Centre in Uasin Gishu have benefitted from facilities constructed by Safaricom and M-PESA Foundations to support their education and well-being. The intervention by the two foundations will enable the facility to increase its capacity to accommodate children living with disabilities and improve care delivery. The M-PESA Foundation constructed and equipped a physiotherapy room and a dining hall, while Safaricom Foundation built and furnished a 144-bed capacity dormitory. @MPESA_FDN constructed and equipped a dining hall, did some landscaping work and built and equipped a physiotherapy room with crucial tools for…
Ethiopia’s Prime Minister Abiy Ahmed has appointed Mamo Mihretu, as governor of the National Bank of Ethiopia. He replaces Yinager Dessie. https://twitter.com/PMEthiopia/status/1616303869486678016?s=20&t=Jz0TIwg1d5YFDzNtU8fYbQ Mamo is currently the chief executive officer of state-owned Ethiopian Investment Holdings. He previously served as a senior policy adviser to Prime Minister Abiy Ahmed and the nation’s chief trade negotiator and as a senior private sector specialist at the World Bank, according to the World Trade Organization. Mamo holds an LLB degree from Addis Ababa University, a diploma in international trade and investment from the University of Amsterdam, and a Master of Public Administration from Harvard Kennedy…
Joe Sang is officially back as Kenya Pipeline Corporation’s (KPC) managing director, four years after he was forced to resign in December 2018. KPC chairperson Faith Boinett confirmed his appointment Monday. He takes over from Irungu Macharia whose three-year contract expired on January 1, with the board opting not to renew it. https://twitter.com/kenyapipeline/status/1617443528497315841?s=20&t=Jz0TIwg1d5YFDzNtU8fYbQ According to the board, Sang’s tenure between 2016-2018 saw a rise in profit, culminating with a record earning after tax of KSh8.6 billion in 2018. In 2018, Sang and other senior managers were charged in court with the alleged loss of funds in constructing the KSh1.7 billion…
The Capital Markets Authority (CMA) has extended the in-principle approval granted to the Nairobi Coffee Exchange (NCE) to continue operating as a coffee exchange to April 30, 2023. Initially, it had been extended to December 31, 2022. This is expected to give impetus to the ongoing coffee sub-sector reforms. The CMA chief executive officer, Wyckliffe Shamiah, said that the key requirements for NCE stipulated in the Coffee Exchange Regulations include; on boarding a Direct Settlement System provider to expedite and enhance transparency in the settlement of coffee sale proceeds. Other roles include submission of trading rules aligned to the Coffee…
The International Telecommunication Union (ITU), the United Nations specialised agency for information and communication technologies, has established an expert focus group to work towards international technical standards for the metaverse. The group aims to develop a roadmap for setting technical standards to make metaverse services and applications interoperable, enable a high-quality user experience, ensure security, and protect personal data. “The metaverse and its layers of technologies can help human development and progress,” says ITU Secretary-General Doreen Bogdan-Martin. “The work of this ITU focus group is the first step in ensuring that these technologies work well and that they work for…