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1 week ago | 
businessdailyafrica.com | Victor Juma
The share price of Umeme Limited had on Wednesday dropped by 27.5 percent since the stock resumed trading on Friday as investors reacted to the prospect of a much smaller compensation from the Ugandan government. The firm’s share price touched lows of Sh11.6 on Wednesday, marking the fourth consecutive fall amid uncertainty of whether remaining shareholders will get the full value of their investment.
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2 weeks ago | 
nation.africa | Victor Juma
Shares of Umeme Limited on Thursday resumed trading on the Uganda and Kenya stock exchanges, offering an opportunity for investors to exit amid uncertainty over the amount of compensation the former electricity distributor will receive from the Ugandan government.
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2 weeks ago | 
businessdailyafrica.com | Victor Juma
MTN Uganda is set to separate its mobile money business MTN MoMo from the telecommunications operation, as part of a plan that will eventually lead to the listing of the former on the Uganda Securities Exchange (USE) in the next three to five years. The company says the decoupling of the businesses will make it easier to grow the mobile money division and attract investors interested purely in financial technology, following a strategy that was implemented earlier by Airtel Africa.
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4 weeks ago | 
businessdailyafrica.com | Victor Juma
Umeme Limited is set to escalate its $292 million (Sh37.7 billion) compensation dispute with the Ugandan government to a London arbitration process after weeks of talks failed to end the stalemate. The company, whose 20-year electricity distribution concession ended on March 31, 2025, now says it is going to seek an additional payment of $292 million after the Ugandan government paid it only $118 million.
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1 month ago | 
businessdailyafrica.com | Victor Juma
South Africa’s insurance giant Sanlam Limited has raised its stake in Sanlam Kenya to 71.47 percent after injecting additional capital of Sh461.5 million in the subsidiary’s rights issue. The multinational previously held a 57.14 percent shareholding in the Nairobi Securities Exchange-listed insurer, which says it raised the entire target of Sh2.5 billion in the cash call whose results were disclosed on Wednesday.
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1 month ago | 
businessdailyafrica.com | Victor Juma
Isuzu East Africa and CFAO Mobility Kenya have the most popular models of trucks and buses, explaining their dominance in Kenya’s sales of new motor vehicles. The eight commercial vehicle models with sales of more than 100 units in the first four months of the year –and representing nearly half of total industry orders— are bought at the showrooms of the two firms, according to data from the Kenya Motor Industry Association (KMI).
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1 month ago | 
businessdailyafrica.com | Victor Juma
NCBA Group directors, including chairman James Ndegwa, acquired an additional 8.09 million shares with a current market value of Sh404.9 million, raising their stakes in the Nairobi Securities Exchange-listed lender. The company’s latest annual report shows that Desterio Oyatsi raised his holdings the most by 5.5 million shares in the year ended December 2024 to reach 21.7 million shares in the period.
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1 month ago | 
businessdailyafrica.com | Victor Juma
The Co-operative Bank of Kenya has linked an additional 135 savings and credit co-operatives (saccos) to its banking platform, expanding the commercial ties it has with the thrift institutions, which are both a key shareholder and client base for the Nairobi Securities Exchange-listed firm. The lender says it had linked 619 saccos with front office services activity (FOSA) in the year ended December 2024, up from 484 a year earlier.
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1 month ago | 
businessdailyafrica.com | Victor Juma
NCBA Group has booked a gain of Sh266.8 million from its acquisition of insurance firm AIG Kenya, with the amount indicating that the new subsidiary will perform better as an integrated part of the banking group than when it was a standalone business. The Nairobi Securities Exchange-listed firm, which already owned a 33.33 percent stake in AIG, spent Sh1.07 billion last July to buy the remaining stake. The 33.33 percent stake was acquired in 2006 at a cost of Sh332.5 million.
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1 month ago | 
businessdailyafrica.com | Victor Juma
Tobacco farmers contracted by BAT Kenya earned Sh1.12 billion in the year ended December 2024, marking a 17.4 percent increase from the year before when the company paid them Sh954 million. The company buys most of its tobacco leaf from farmers in Meru and Western Kenya, with the raw product used to manufacture cigarettes for the local and export markets.
