Business highlights – November 30, 2017

Business highlights – November 30, 2017

Kenya Airways shares jump 135% after national carrier resumes trading

Kenya Airways’ share price has jumped by 135.5% to Ksh12 after it reopened on Wednesday at Ksh2 following a two week suspension to enable a share split and consolidation of the company’ stock as part of the airlines capital restructuring plan. The restructuring saw the Government increase its shareholding to 48.9% of the ordinary voting shares with a consortium of local banks through a special purpose vehicle.

Tullow Oil raises Ksh258 billion to fund Africa operations in 2018

International mining company, Tullow Oil has raised Ksh257.8 billion in new loans to help fund its Africa’s operations in 2018. The firm announced Wednesday the new cash injection comprises a commercial bank loan and a loan from the International Finance Corporation. “The refinancing of our reserve based lending (RBL) credit facility was a key objective for 2017 and we are very pleased to have completed this process in line with stated guidance and ahead of our year-end target,” the company said in a statement.

Millers stock up on maize as subsidy supplies dwindle

Kenya’s maize millers have started purchasing local maize to build up stocks as supplies under the government’s subsidy programme dwindle. The Cereal Millers Association, a representative body for farmers engaged in the trade, has stated that there is a likelihood of not getting enough maize when the subsidy ends on December 31. This may lead to a spike in local flour prices. The Association noted that its members are not getting enough stocks from farmers, which is likely to create a shortage on their side once the government stops supplying them with the cheap maize.

Previous News headlines
Next Sports highlights - November 30, 2017

You might also like

Latest 0 Comments

Revealed: Firms in NYS saga won tenders even before they were registered

Over 20 companies that won tenders with the National Youth Service and which were involved in the controversial Sh791 million deals were not registered, fresh details indicate. The firms owned

Latest 0 Comments

Tullow Oil, Maersk to begin drilling wells in December as Kenya eyes fuel exports for 2017

Mining and exploration company, Africa Oil and its partners in Kenya will drill as many as eight wells in December to boost proven resources and improve financing prospects for field

Politics 0 Comments

Jubilee disowns Chap Chap, PNU and Narc-Kenya parties

Ruling party distances itself from parties that have alleged for Head of State’s re-election bid Jubilee insists the four parties were not part of merger that formed the behemoth in


No Comments Yet!

You can be first to comment this post!

Leave a Reply