Nairobi Business Ventures Limited (NBV), a shoe and leather accessories retailer, has completed the acquisition of 100 per cent in four businesses in Kenya. The Ksh 3 billion transactions involves Delta Automobile, a leading heavy commercial vehicle maintenance company; Air Direct, an aviation company; Aviation Management Solution Limited and an 11.33 hectares parcel of land in Machakos County to be used to set up a cement manufacturing facility. “The Board wishes to notify key stakeholders and the general public that the Transactions have been completed,” the company said in a circular. ABC Capital was the transaction advisor for the deal…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Actis and Jamison Valley Holdings, via Ukarimu real estate funds, announced a Kshs 1.0 billion joint venture bid for the acquisition of three hotels in Kenya. These are the Fairview Hotel, Town Lodge and City Lodge Two Rivers in Nairobi. They have combined 382 rooms with City Lodge, Fairview and Town Lodge having 171,127 and 84 rooms, respectively. This is through a newly formed special purpose company (SPV) listed in Mauritius called Msafiri Limited, which will own Ukarimu. The three were put up for sale by their South African owner City Lodge Hotel Group in an attempt to leave East…
The LPG facility can handle up to 650 metric tonnes per month.
SemaBOX, Kenya’s first specialist podcasting studio has teamed up with MARKUP Kenya to launch ‘Mazao Talks’, a knowledge-sharing platform for established and budding farmers to enable young farmers to make the most of the opportunities in agri-business. The first season of Mazao Talks will consist of 12 episodes that will cover specific value chains in 12 counties. Its content is built around the MARKUP Kenya studies and research results featuring contributions from industry stakeholders such as Kenya Agricultural and Livestock Research Organization (KALRO), The Food and Agriculture Organization (FAO), The Horticulture and Crops Directorate, farmers and The Kenya Ministry of…
Kilifi duo Sabrina Chepkemoi and Marrieta Halima of St. Thomas Girls Secondary School won the Young Scientists of the Year for the best innovation at the 2021 Young Scientists Kenya National Science and Technology Exhibition. “When we got an opportunity to participate in the exhibition, we took up the challenge to address a key issue that many developing countries have faced since the outbreak of COVID-19, lack of sufficient test kits. This informed our decision to come up with the Rapid Covix-Breathalyzer Testing Kit. Beyond winning, we look forward to progressing our project and seeing it positively impact society,” said…
Kenya National Treasury’s plan to raise Ksh 60 billion from Treasury bonds (T-bonds) in October witnessed under-subscriptions attributed to the tight liquidity end of September. The Central Bank of Kenya received bids worth Ksh 55.5 billion representing a 92.5% performance rate. It accepted Ksh 52 billion following the close of the bonds sale. The three bonds; FXD1/2013/15, FXD3/2019/15 & FXD1/2021/24 have 6.4, 12.9 and 24.7 years to maturity. The coupons for the three bonds were; 11.3%, 12.3% and 13.9%, and the weighted average yield for the issues were; 11.9%, 12.8% and 13.8%, for FXD1/2013/15, FXD1/2019/15 and FXD1/2021/25, respectively. The money…