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The government is looking to raise Shs 50.0 billion through 3 year, 10 year and 20 year issuances. 3 year paying at 11.77%, 10 year at 12.3% & 20 year 13.44%.
India, Tullow Oil and Kenya government officials are in talks for India state-backed oil companies to acquire Tullow Oil’s stake in deal estimated to hit Shs 357 billion. India is the world’s fourth largest oil consumer.
Kenya risks losing Shs 1.5 billion Japan coffee market after Japan authorities raised red flag over use of non-recommended pesticides in produce. Japan now wants growers and exporters to undertake voluntary tests.
South Sudan Central Bank is threatening to shut down Stanbic Bank Limited South Sudan because the bank has been operating as a branch of the Kenyan lender. It wants the bank to operate as a subsidiary.
Government has asked supermarkets to pay maize millers within 2 days down from 45 days after it emerged that millers are avoiding supermarkets because of the long credit period. Millers said to prefer wholesalers who buy in cash.
Britam has appointed Tom Gitogo as CEO and Group Managing Director effective September 1. He was previously CEO at CIC and Pan Africa Life.