United States

George Obulutsa

UPDATE 3-Centum Investment profit up, to sell stake in drinks firms

Jun 12 2019

* FY pretax profit up 41% to 4.44 billion shillings (Adds quote)

Power from Kenya's planned Lamu plant could cost 10 times more than estimated: study

Jun 11 2019

NAIROBI Electricity from a coal-fired power plant due to be built in Kenya by a Kenyan-Chinese consortium will cost consumers up to 10 times more than planned, a U.S. thinktank says, raising further doubts about the long-delayed project.

Kenya Airways aims to double fleet over 5 years on path to profit

Jun 10 2019

NAIROBI, June 10 Kenya Airways plans to double its fleet over the next five years, its chairman said on Monday, as the loss-making carrier combats regional rivals like Ethiopian.

UPDATE 2-Kenya's 'stabilising hand' c.bank chief gets second term

Jun 06 2019

NAIROBI, June 6 Kenyan Central Bank Governor Patrick Njoroge has been given a second and final four-year term in the job, as President Uhuru Kenyatta opted for continuity in the face of a private sector credit crunch and pressure to reduce government borrowing.

UPDATE 2-Kenya's NSE gets regulatory approval for derivatives market

May 29 2019

NAIROBI, May 29 Kenya's Nairobi Securities Exchange has received regulatory approval to launch a derivatives market, the Capital Markets Authority said on Wednesday, and the exchange said it aimed to start futures trading in July.

Kenya's National Cement to invest $36 mln after buying ARM assets

May 24 2019

NAIROBI, May 24 National Cement Company, which this week signed a deal to buy the Kenyan assets of ARM Cement from its administrator, plans to invest $36 million to modernise the production plants it is acquiring, its chairman said on Friday.

New Kenyan body to help drive mortgage lending aims to raise 5 bln shillings

May 22 2019

NAIROBI, May 21 Kenya's new mortgage refinancing company, set up to help the many would-be homeowners who struggle to secure a mortgage, aims to raise 5 billion shillings ($49.41 million) on the capital markets in the next year or two, its chief executive said.

Kenyan banks to test mobile lending app to ease SME squeeze

May 20 2019

NAIROBI, May 20 Five Kenyan banks have launched a lending service via mobile phone aimed at getting credit through to the country's small and medium-sized businesses, the central bank said on Monday.

UPDATE 3-Kenya easily raises $2.1 bln Eurobond, debt concerns linger

May 16 2019

* Debt has jumped to 55% of GDP since 2013 (Adds debt level, economist's comment)

Corruption, payment delays stifle Kenyan manufacturers: survey

May 08 2019

NAIROBI Kenyan manufacturers are largely operating below capacity and say economic growth prospects are dim due to a cash crunch, drought and corruption, a survey by their umbrella association showed.

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