Kenyan banker Gideon Muriuki leads Co-op Bank to record $170-million profit in 2023
Muriuki, who was instrumental in the Co-op Bank’s expansion, owns a two-percent stake in the leading financial services group.
Kenya
Kenya’s wealthy Merali family gains $1.5 million from Sasini Tea stake in just four days
This surge solidifies the Merali family’s position as prominent investors on the Nairobi Securities Exchange, with their extensive investments establishing them among the wealthiest families in Kenya.
Kenyan tycoon Jimnah Mbaru faces lawsuit over alleged neglect of parental duties
The conflict arises from a lawsuit filed by 25-year-old Elizabeth Nadupoi Kimiti, accusing Mbaru of neglecting his parental duties.
Ronald Karauri’s SportPesa unveils innovative rewards for Kenyan athletes
This initiative represents a significant stride toward contributing to Kenya’s comprehensive growth and prosperity.
Kenyan executive Edwin Kinyua-led Portland Cement posts $4.9-million half-year loss
The reduction in Portland’s net loss in the current reporting period is attributed to increased revenue from cement sales, coupled with higher tax credits and reduced expenses.
Kenyan tycoon Bharat Thakrar threatens $30-million lawsuit against UK group
Thakrar also accused WPP of leaking details of an internal investigation into alleged financial and personal misconduct to local media, causing “reputational damage.”
Kenyan tycoon James Ndegwa loses $1.17 million from NCBA stake
Despite this setback, Ndegwa remains one of Kenya’s wealthiest investors and continues to hold a prominent position among the country’s richest businessmen.
Led by Kenyan exec Priscilla Gathungu, Java expands with two outlets in Nairobi
Under the leadership of CEO Priscilla Gathungu, appointed in November 2022, the company has pursued an aggressive expansion strategy.
Kenyan tycoon Baloobhai Patel’s Bamburi Cement expects $2.57 million in savings with solar plants
Patel, a Kenyan multimillionaire and owner of a 4.12-percent stake in Bamburi Cement through his private investment company, Aksaya Investment.
Aga Khan IV gains $1.7 million from stake in Nairobi-based insurer
Through the Aga Khan Fund for Economic Development, Aga Khan IV owns 37.98 percent of Jubilee Holdings and 11.85 percent of its Mauritian subsidiary.
Kenya’s wealthy Merali family loses $1.9 million from investment in Sasini Tea
The Merali family, holding a majority 65.46-percent stake in the agribusiness firm valued at more than $23 million, ranks as Sasini’s largest shareholder.
Kenyan businessman John Kimani becomes Centum’s third-largest shareholder
His move comes as shares remain attractively priced on the Nairobi Securities Exchange.
Kenyan tycoon John Kimani among directors accused of $2 million in irregular payments
The Capital Markets Authority (CMA) has summoned top executives, including Kimani and Kakuzi Managing Director Christopher Flower.
Family feud erupts over Naivas shares as heirs of Kenyan business titan seek control
Newton Kagira Mukuha, in his application, argued that certain assets within the estate have not been properly distributed, expressing worries over lack of representation.
Kenyan tycoon Narendra Raval takes over Rwandan cement giant in $84-million deal
Devki Group Founder and Chairman Narendra Raval announced the completion of the acquisition, expressing enthusiasm about the prospects it holds for both countries.
Kenyan tycoon John Kimani acquires 8.64 million shares in East Africa’s largest telecom firm
The businessman’s increased stake further solidifies his position as one of the leading investors on the Nairobi Securities Exchange.