Rogers Group Limited, a Mauritanian investment group, recorded a Kshs 113.6 million gain in a bargain purchase acquisition deal of Rongai Workshop and Transport Limited, a renowned transport and logistics company in Kenya, through its logistics subsidiary Velogic Limited. A bargain purchase occurs when a company is bought at a price that is less than the fair market value of its net assets, and the difference is then recorded as a gain. The Mauritian conglomerate announced that it had completed the acquisition of the trucking company in March 2023, but was yet to disclose the value of the transaction. However, the investment…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Eldoret-based businessman Amos Butit emerged as the overall winner of the second leg of the KCB East Africa Golf Tour at the Eldoret Golf Club on Saturday. The handicap 18 golfer carded 40 stableford points to beat 112 players. Anand Lakini playing off handicap 5 carded 19 points in the first nine, and 20 points in the back nine to clinch the overall men’s winner award with 39 points. Speaking after his win, Butit said: “I started off on the wrong foot, playing terribly in the first three holes, but I managed to up my game as we progressed. I…
The public relations industry is a powerful force in the business world, offering strategic communication and marketing services to companies around the globe. The industry has grown and evolved in many ways over the years, but one issue that remains persistent is the lack of diversity in leadership positions of global PR firms, particularly the lack of global representation in those advising the African market As an African PR authority with 30 years of experience, I have seen firsthand the implications of this lack of diversity. Global PR companies are regularly called upon to advise multinationals on doing business in…
Impact investing refers to investments that are made to achieve positive financial returns combined with measurable, positive environmental and social impact. The impact investment sector is currently estimated to be worth US$1.164 trillion globally. Of that, Sub-Saharan Africa lays claim to a relatively small US$65 billion, with South Africa accounting for 84% of all impact investment assets in the region. It should be clear, then, that there’s substantial room for impact investment growth across the continent. But if we’re to offer any kind of roadmap for how that growth might be achieved, it’s important to understand what it means to be an impact…
The Kenya Commercial Bank (KCB) Group has appointed Annastacia Kimtai as the new Managing Director of KCB Bank Kenya. Annastacia has been serving as the Retail Banking Director since 2011 with the bank, and was appointed in December 2022 as the acting Managing Director of the Kenyan Unit. “I take this opportunity to congratulate Annastacia on this appointment and request that we all accord her all the support to execute her mandate,” said KCB Group CEO, Paul Russo, in an internal memo. “The changes are aligned to the expectations of the CBK prudential guideline on corporate governance. The introduction of…
Most farms—they say up to 70%—that produce everyday food crops – cabbage, carrots, onions, tomatoes, beans, green grams, and peas are small-scale. The land holding averages 0.2–3 acres, most of which is family owned. Crops like maize and wheat may be grown on a large scale in some parts of the country. However, most of the food produced is by smallholder farmers who farm for subsistence, only selling the surplus. Some regions specialize in one crop type; for example, the cultivation of rice and other grains such as peas, green grams, beans, and chickpeas in mid- and lower-eastern Kenya. Farmers…