Kenya-based entrepreneur Daniel Yu’s Wasoko raises $125 million at $625-million valuation
Since Yu founded Wasoko in 2015, it has expanded its operations beyond Kenya and delivered 2.5 million orders.
East Africa
Jeremy Awori’s Absa Bank Kenya reports triple-digit growth in earnings as profit exceeds $95 million
Awori said the shifting operating climate compelled management to take urgent actions to protect capital and liquidity.
Moi family of Kenya buys back majority stake in power company from steel magnate Narendra Raval
The lucrative deal is part of efforts to retrieve some of the family’s assets.
Led by Mauritian Espitalier-Noel family, Rogers suffers $19.6-million in losses in 2021
Rogers and Company Limited is a Mauritius-based international services and investment firm.
Kenyan businessman Joshua Oigara receives extension to stay with KCB Group until December
Under Oigara, the group’s assets have increased in value from $3.41 billion at the end of 2013 to $8.64 billion by the end of 2020.
Kenyan tycoon Tabitha Karanja rules out stake sale in $198.8-million row
Karanja launched Keroche Breweries in 1997.
Kenya’s Kirubi family loses $2.6 million in 53 days
Kirubi died last year at the age of 80 following a four-year battle with illness.
Ten richest investors on the Nairobi Stock Exchange in 2022
On the Nairobi bourse, the top three wealthiest investors are Aga Khan IV, James Mwangi and the Merali family.
Kenyan banker James Mwangi’s Equity Group launches $6-billion regional economic stimulus plan
Equity Group is East and Central Africa’s largest financial services group.
Aga Khan-backed Jubilee acquires additional stake in Johann Rupert-linked SEACOM
SEACOM is privately funded and about 75-percent African-owned.
Charles Mbire-led MTN Uganda reports $94.26 million in profit in 2021
Mbire’s 3.98-percent equity position in MTN Uganda is valued at $44.35 million.
Kenyan liquor tycoon Tabitha Karanja appeals to gov’t to intervene in KRA tax dispute
Karanja founded Keroche Breweries in 1997.
Kenyan businessman John Kimani gains over $1.6 million from stake in Kakuzi
Kakuzi is a leading agro-allied company listed on the Nairobi Stock Exchange.
Richest investor on Nairobi Stock Exchange Aga Khan IV loses nearly $10 million since start of 2022
Aga Khan IV remains the Nairobi Exchange’s richest investor, with a total portfolio worth of more than $105 million.
Kenyan tycoon Suresh Bhagwanji Shah gains over $1.4 million from stake in I&M Bank
I&M Bank Group is a leading non-operating holding company situated in Kenya.
Wealthy Kenyan businessman Andrew Ndegwa loses $1.1 million in three weeks
Ndegwa’s 4.3-percent stake in NCBA Group, now worth $15 million, has dropped in value in recent weeks.