Amsons Group, a family-run business led by Tanzanian tycoon Edha Nahdi, has committed to a Ksh682.7 million ($5.31 million) breakup fee if it withdraws from its proposed acquisition of Bamburi Cement, barring legal impediments. Billionaires Africa, a business news website reports This fee — which amounts to 3 percent of the total offer — willContinue Reading
A file photo of a Bamburi cementContinue Reading
Top Co-op Bank team led by its chief executive officer Gideon Muriuki during a past shareholders meeting.Continue Reading
APA Insurance is set to replace CIC Insurance as the lead insurer of the multi-billion shillings medical scheme for police and prison officers amid complaints about the slow pace of processing of claims. Business Daily reports In changes announced by Medical Administrators Kenya Limited (MAKL), which oversees the medical schemesContinue Reading
A growing number of savings and credit cooperative societies (saccos) are blocking members from exiting and clinging to their deposits against their will, Business Daily reports quoting complaints filed with the Competition Authority of Kenya (CAK) show. Records show that in the year ended June 2023, the watchdog handled atContinue Reading
Co-operative Bank of Kenya has posted a 5.2 percent growth in net profit to Sh23.2 billion in the financial year ended December 2023 on increased income and reduced operating costs. The net profit grew from Sh22 billion posted in a similar period last year. The board has, on the backContinue Reading
Isuzu East Africa, CIC Group and Co-op Bank have entered into a partnership to provide businesses with a one stop shop for transportation, insurance and financial solution. The partnership guarantees business owners reliable motor vehicles, insurance and purchase finance. Senior executives from the three institutions led by Rita Kavashe, ManagingContinue Reading
Co-operative Bank of Kenya will open 15 new branches this year, continuing with the expansion of its physical outlets across the country despite the rising preference for digital services. William Ndumia, the director of retail and business banking, said many of the branches lined up are at various stages asContinue Reading
The Co-operative Bank of Kenya has emerged as the leader in providing the best customer experience, surpassing its counterparts in the latest ranking by the Kenya Bankers Association (KBA). The bank secured the coveted No. 1 position in the Tier one category and was honored with the prestigious Best OverallContinue Reading
The bank in partnership with International Finance Corporation (IFC) has in the last three years been conducting research work to clearly understand the micro, small and medium enterprises (MSMEs). Consequently, the bank developed new solutions that not only meet their needs but also help them align with the existing andContinue Reading