The Board of National Bank of Kenya says KCB Group’s valuation of its shares falls below its independent valuation of KSh6.10 per share according to its ‘Shareholders’ Circular on the Proposed Take-over offer by KCB Group. According to the report signed by Mohamed A. Hassan the Chairman, “The Offer made by KCB falls below the expected valuation range.” “Specifically, this report has placed the fair value of NBK share at Kshs 6.10 resulting in an equity valuation for a hundred percent shareholding in NBK of Kshs 9.0 billion (equivalent to a swap ratio of 6.23 shares of NBK for every…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
African Union’s Trade Commissioner, Ambassador Albert Muchanga will lead a high-powered delegation to the 2nd edition of the Trade with Africa Business Summit in Chicago, US. “Amb. Muchanga and his team will be here as architects of the newly launched African Continental Free Trade Area (AfCFTA) at the 12th Extraordinary Summit in Niamey, Niger. Through collaboration and partnerships across the continent they have successfully created the world’s largest Free Trade Area,” says Toyin Umesiri, CEO Nazaru LLC and Founder of the Trade with Africa Business Summit. Besides, delivering the keynote address, Ambassador Muchanga is the 2019 “Champion of Trade” Award recipient for his leadership as…
Fruit juice maker Del Monte Kenya has invested KSh580 million in a new fresh fruit packing facility with a processing capacity of 60 tonnes annually. The facility is expected to create 200 new jobs and boost the economies of Murang’a and Kiambu counties as it plans to expand production of pineapples avocados, mangos, and passion fruit juices. The plant is being constructed within Del Monte Kenya’s plantation in Murang’a and is scheduled to be completed in August 2019. “Del Monte Kenya plans to source fruit from local and regional growers in Murang’a and Kiambu Counties, we will prepare and package…
Lesley Nneka Aarimah, Nigerian author is the 2019 Caine Prize for African Writing for her short story “Skinned”, beating four other finalists. Skinned is about a society where women cannot wear clothes until they are married published inMcSweeney’s Quarterly Concern (Issue 53) 2018. https://twitter.com/CainePrize/status/1148331747454672896 Dr. Peter Kimani, Chair of Judges announced Lesley as the winner of the £10,000 (KSh1.3 million) prize on Monday 8 July. “The winner of this year’s Caine Prize for African Writing is a unique retake of women’s struggle for inclusion in a society regulated by rituals. Lesley Nneka Arimah’s Skinned defamiliarizes the familiar to topple social…
Kenya and Tanzania have decided to collaborate in trading in natural gas, a development that comes in the backdrop of long-standing trade disputes, which have slowed down the flow of goods ac and services across common borders. Collaboration on this area gathered pace when President Uhuru Kenyatta made a two-day private visit to Tanzania’s president John Magufuli in Chato, a township in the Geita region. “We have natural gas, a lot of gas. We know Kenya needs gas. Instead of Kenya importing gas from outside East Africa, they should buy from here,” President Magufuli said in a statement from Kenya’s…
The African Continental Free Trade Area, AfCFTA, an agreement that removes trade tariffs in the African continent became operational on Sunday. 54 member states have agreed on the process to implement the accord. https://twitter.com/_AfricanUnion/status/1147815925787373568 The AfCFTA will be governed by five operational instruments: the Rules of Origin; the online negotiating forum; the monitoring and elimination of non-tariff barriers; a digital payments system and the African Trade Observatory. “The eyes of the world are turned to Africa,” Egyptian President and AU chairman Abdel-Fattah el-Sissi said at the opening ceremony of the 35th Ordinary Session of the Executive Council. “AfCFTA will reinforce…