Led by Kenya’s richest families, NCBA Group plans to launch seven new branches before year’s end
This year alone, the group has launched four branches in Kenya.
East Africa
Kenyan mogul Manu Chandaria regains control of Kaluworks as banks write off $55-million debt
Kaluworks is a manufacturing firm and a subsidiary of Chandaria’s main company, Comcraft Group.
Controlled by Kenya’s richest families, NCBA Group posts $65 million in profit in H1 2022
The double-digit increase in earnings was driven by a significant rise in interest and non-interest income.
Tanzanian billionaire Mohammed Dewji’s MeTL Group unveils insurance scheme
METL Group is Tanzania’s largest home-grown corporation, worth more than $1 billion.
Kenyan banker Gideon Muriuki’s Co-operative Bank posts $95.6 million in profit in H1 2022
Its profit rose by more than 55 percent to $95.7 million.
Mombasa-based businessman Ramesh Malde’s Pwani Oil buys stationery firm
Pwani Oil Products is a Kenyan company owned by Mombasa-based tycoon Malde and his family.
Uganda’s richest investor Charles Mbire acquires additional 2.26 million shares in MTN Uganda
Mbire is anticipated to receive $1.16 million from the telecom group’s interim dividend payout.
Indian-Kenyan entrepreneur Kamal Budhabatti’s Little reveals plan to build $6-million office in Nairobi
Budhabhatti said the office building’s estimated construction cost of $6 million will be financed internally.
Led by Kenyan banker James Mwangi, Equity Group posts over $200 million in profits in H1 2022
Mwangi’s 3.38-percent share in Equity Group is valued at $51.3 million at the current market price.
Tanzanian businessman Ketan Patel’s gold company looks to take over West Kenya gold licences
Shanta Gold will take over seven prospecting licenses for the West Kenya project.
Kenyan tycoon Narendra Raval’s Devki Steel Mills applies for electricity supply license in Kenya
Raval was reported to have a net worth of $400 million in 2015.
Mauritian Espitalier-Noel family loses $9.1 million from stake in ENL in 96 days
The family remains one of the country’s wealthiest investors.
Ugandan tycoon Emmanuel Katongole’s CiplaQCIL to pay shareholders first dividend in four years
Katongole owns 2.79 percent of the company, or 101,933,042 ordinary shares.
Kenya-based founder Stefano Carcoforo’s iProcure secures $10.2 million from investors
Carcoforo co-founded iProcure in 2013.
Uganda’s richest investor Charles Mbire gains $4.7 million from stake in MTN Uganda
The $4.7-million bump in his stake solidifies his position as the richest investor on the Uganda Stock Exchange.
John Kimani-linked Kakuzi partners with California-based berries seller, Driscoll’s
Kimani, a member of Kakuzi’s board of directors, owns 32.3 percent of the company, or 6,330,699 shares.