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Airtel owner 'Forced' to Sell 30% Stake to locals in New Rules.

ECONOMY-FINANCE 1 days ago

Airtel owner 'Forced' to Sell 30% Stake to locals in New Rules.

Kenyan government has introduced new international company ownership rules in the telecommunication sector that will compel airtel Kenya to sell a 30 percent stake to Kenyans investors.Its counterpart, Safaricom is on safe side as according to business daily, locals owns more than 60% stake.Joe Mucheru, the ICT Cabinet Secretary, revealed the 3 year window has allowed telecommunication firms to March 2024 to ensure the ownership is restructured to meet the 30% to be owned by local investors.

List of 20 Richest People in Kenya

ECONOMY-FINANCE 4 months ago

List of 20 Richest People in Kenya

These are Kenyan Billionaires who attain a certain threshold. Read on to know the Wealthiest people in Kenya according to their net worth. Moi and Family Moi and family had an estimation net worth of $3 billion. Before his death he had several companies and have invested in almost every niche in Kenya. Nicholas Biwott At the time of his death, Biwott owned the prestigious Yaya Center, a landmark shopping center in Nairobi. However, the Nigerian magazine placed Nicholas Biwott at $1 billion, making him one of

Meet Kenyan Top 10 Richest People Currently

POLITICS 1 months ago

Meet Kenyan Top 10 Richest People Currently

According to biometric analysis they ranked wealthy people in Kenya as in the article below. 1. Uhuru Kenyatta. He is the fourth president of kenya who was elected in general election of 2013. Uhuru who's name means freedom was Born in 26th October 1961 to the first president of Kenya Jomo Kenyatta. His net worth according to bio metric analysis is about USD 4Billion. He is the richest person in kenya. 2. Daniel Moi. Daniel Toroitich arap Moi kenyan politician , who was the second president and longest serving

Meet the Fake Uhuru who has Seen More Guns Than Rambo

CRIME 7 months ago

Meet the Fake Uhuru who has Seen More Guns Than Rambo

For many years, critical details about Joseph Henry Waswa has remained unknown to many. Henry Waswa has been accused of colliding with seven other suspects to impersonate President Uhuru Kenyatta. Their well-orchestrated plot eventually bore fruit. They managed to con the business tycoon, Naushad Merali Ksh 10 million. Dr. Naushad Merali is the chairman of Sameer Africa. Primary among their plan was to feign President Uhuru Kenyatta’s voice as this would go along way in adding an extra special layer of support

Top 10 Richest People In Kenya As More Kenyans Lose Wealth Due To COVID-19

POLITICS 1 months ago

Top 10 Richest People In Kenya As More Kenyans Lose Wealth Due To COVID-19

The number of Ultra high networth individuals in Kenya dwindled from a high of in 2019 to 90 In 2020 according to Knight and Frank report as reported by standard.Ultrahigh networth individuals are those with networth if over $ 1miliion also called dollar millionaires.

List of 10 wealthy Kenyans

BUSINESS 5 months ago

List of 10 wealthy Kenyans

According to AfricnPrice, Kenya is blessed with men and women of means, who often grace the lists of the super-rich, even on the African continent. 10. Raila Odinga - He worth ksh15 billion at the age of 76. He get his money from politics, manufacturering, industrial gas storage amongst others. 9. Peter Munga - Founder and chairman of Equity Group Holding Limited. Equity generate an annual revenue in excess of ksh 19.5 billion. EGHL also control assets worth ksh 530 billion. 8. Chris Kirubi - He is successful

Photos: Five Kenyan Centimillionaire Industrialists

ECONOMY-FINANCE 4 months ago

Photos: Five Kenyan Centimillionaire Industrialists

Peter Munga Kenya despite being a third world country, it is the largest economy in East and Central Africa with a gross domestic product of USD 120.87 billion as of 2020 an upward trend from US dollars 70.539 billion in 2017( World Bank report) With its sprawling economy, the country has a few stratospherically wealthy business merchants who have maintained their listing in the Forbes wealth index that is published by Forbes magazine based on an annual assessment of wealth and assets. Forbes uses the term centimillionaire

The Top 5 Richest People In Kenya And Their Networth's.

ECONOMY-FINANCE 3 months ago

The Top 5 Richest People In Kenya And Their Networth's.

The Top 5 Richest Person's In Kenya And Their Networth's. 5th January 2021, Nairobi Kenya. Wealth is one of the most precious things that most people have really invested in and therefore, there are several super rich Kenyans who worth billions of kenya shilings and they have invested in several bussinesses and properties in the country. 1) Manu Chandaria. Menu Chandaria is one of the richest Kenyan's and he has an approximated networth of about $1.7 billion. He has invested in several properties and businesses

Meet the Shy Billionaire Investing in the Ksh 200 Billion Eldoret Industrial Park

BUSINESS 7 months ago

Meet the Shy Billionaire Investing in the Ksh 200 Billion Eldoret Industrial Park

The Kenya Billionaire's list isn't lengthy, therefore, anyone can easily remember it. For clarity, it's a small circle that comprises of personalities like the industrialists Chris Kirubi, Equity’s Chairman Peter Munga, Prandeep Paunrhana, Naushad Merali, and Manu Chandaria among many other household names. However, digging deep into the layers of the billionaires league will reveal an individual whose name hasn't been captured by the limelight a lot. He goes by the name David Langat, a billionaire who swims

Mwalimu National Sacco Makes Two Important Announcement to Members

COVID 7 months ago

Mwalimu National Sacco Makes Two Important Announcement to Members

Mwalimu Sacco is a savings and credit co-operative society (Sacco) in Kenya composed of ; the staff of the TSC staff,TSC teachers in primary secondary and those in elementary schools the Mwalimu National Sacco staff and the spouses of the above members, when formally, gainfully employed. The Sacco's membership stands at slightly over 100,000 drawn from every corner in Kenya. It is currently the only teachers Sacco with majority membership The Sacco is licensed and regulated by the Sacco Societies Regulatory

Are Teachers' Deposits Safe In This National SACCO?

ECONOMY-FINANCE 3 months ago

Are Teachers' Deposits Safe In This National SACCO?

Mwalimu national SACCO is one of the largest SACCOs in Kenya with a branch network throughout the country. The Sacco is financially sound but a few decisions in the recent past may ruine it's future prospects. One such decision is the acquisition of Equitorial bank of Africa(ECB) which was later on renamed spire bank. The loss making entity was bought from shrewed businesman Naushad Merali by first purchasing 75 % stake at ksh 2.6 billions in 2015. According to business daily, Continued loss making and loan

Relief To Mwalimu SACCO Members As The Senate Makes This Move On Their Struggling Bank.

BUSINESS 5 months ago

Relief To Mwalimu SACCO Members As The Senate Makes This Move On Their Struggling Bank.

Spire bank owned by mwalimu SACCO and businesman Naushad Merali has come under sharp focus over it's persistent poor performance. Having violated a number of regulatory Requirements and basic ratio's set by central bank of Kenya, the ownership has been trying to look for an institutional strategic investor to pump in much needed liquidity. These worrying developments have forced the senate committee on investiment to seek to know what is happening with the teacher's lender. The senate wants to know why spire

Richest kenyan men in 2020

POLITICS 3 months ago

Richest kenyan men in 2020

Who is the Richest man in Kenya? Two recent studies into fortunes of Kenyans have identified a small circle of the richest people in Kenya who control the bulk of the country’s wealth. The names listed here have featured top in a survey by London-based firm New World Wealth and also on Forbes. Although the bulk of the wealth is controlled by just a few, another report from the Central Bank of Kenya indicates that the number of Kenyans who have Ksh 100,000 or more in their accounts stood at 1.1 million.

Meet Tycoon who Holds Record Making the Highest Amount of Money in the Shortest Period in Kenya

ECONOMY-FINANCE 3 months ago

Meet Tycoon who Holds Record Making the Highest Amount of Money in the Shortest Period in Kenya

Born on January 2, 1951, Naushad Meralli has risen through the heights of success, placing his name in an hitherto of untouched heights in the competitive entrepreneurship world. He is the founder of the Kenyan mobile service provider Kencell along with French media giant Vivendi. When it comes to deal making, few Kenyans can hold a candle to the acquisition artist, Naushad Merali, the billionaire businessman who made the most amount of dough in the shortest time than anyone else since Kenya’s independence

Two Blunders The Teachers's SACCO Made That May Sink It Financially.

BUSINESS 5 months ago

Two Blunders The Teachers's SACCO Made That May Sink It Financially.

Teachers' SACCO Mwalimu national has been doing very well up until recently. The SACCO used to give dividends and rebates on savings at a rate of over 10 %. Signals that all could not be well with the SACCO include it's persistent request to members to plough back their rebates and dividends with a promise of some reward. This is meant to boost liquidity. Another attempt to boost liquidity is the current campaign where teachers are requested to bring more members on board at a reward of ksh 500. The SACCO has

Blunder By Mwalimu SACCO That Cost Teachers Dearly

COVID 7 months ago

Blunder By Mwalimu SACCO That Cost Teachers Dearly

Mwalimu national SACCO was doing well financially in terms of services to members and financial stability up untill recently. Too much ambitions make frustrated men, when you stretch your hand to reach higher things you lose what you had under your arms, this best describes Mwalimu's current situation. In a bid to exapand and play in the big league, the top management of Mwalimu SACCO ventured into a project that became a cropper. Five years ago, the deposit taking SACCO thought it wise to venture into banking

Why Mwalimu National Sacco is in Trouble, Again

BUSINESS 7 months ago

Why Mwalimu National Sacco is in Trouble, Again

Mwalimu National Sacco is in yet another financial constrain. This is owing to the dismal performance of Spire bank , an asset it bought in hopes of expanding its asset portfolio a few years ago. In the latest financial report, the bank reported that gross non-performing loans (NPLS) hit Ksh 2.69 billion in the first half of 2020 against the 2.96 billion that it had lent out. This effectively translates to a 90 percent default against the loan book. The NPLS ratio is nearly seven times that of the entire banking

What Spire Bank's Acquisition By Teachers' SACCO Mean For Dividends In Year 2021.

ECONOMY-FINANCE 3 months ago

What Spire Bank's Acquisition By Teachers' SACCO Mean For Dividends In Year 2021.

Teachers' SACCO Mwalimu national SACCO has finally taken over full ownership of the troubled spire bank. Initially, Mwalimu Sacco only had 75% shareholding in a deal that was signed over five years ago at a cost of ksh 2.6, billions shillings. According to Kenyawallstreet.com, the bank is now fully acquired from businesman Naushad Merali at an undisclosed amount. The move is meant to make it easier for mwalimu to find a strategic partner to inject the much needed capital. This is happening at a time when the

Kenyan Billionaires, Their Investments, And Net Worth

ECONOMY-FINANCE 4 months ago

Kenyan Billionaires, Their Investments, And Net Worth

Kenyan Billionare's, Their Investments And Net Worth. Nariobi Kenya, 25th November 2020. Below is a list of some of the top 5 Kenyan billionare's as ranked by the Business Insider. 1) Bhimji Depar Shah Bhimji Depar Shah is a Kenyan business man, entrepreneur and an industrialist. He is the owner of BIDCO oil company and his business is distributed in other countries too. He is approximately worth $ 900 million. 2) Naushad Merali He is estimated to be worth around $600 million. He has widely invested in the communications

Here Comes The Top 5 Richest People In Kenya

BUSINESS 4 months ago

Here Comes The Top 5 Richest People In Kenya

Most people wonder who are the richest people in kenya while others confuse them with there net worth, below is a list of top five richest people in kenya with what they do to earn a living. 1. Vimal Shah is known to be kenya's top richest man. Vimal Shah is the chief executive officer of Bidco and is said to be a consumer goods maker. Forbes estimates that Vimal Shah is worth a conservative figure of Ksh. 68 billion. 2. Naushad Merali is the second richest man in Kenya. Naushad is the founder of the construction

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