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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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https://www.businessdail...ks-in-tz-rwanda-3275184
KCB Group has made a formal application to the regional competition watchdog to be cleared for the Sh4.4 billion ($40 million) deal in which it is seeking to acquire two banks in Tanzania and Rwanda. Comesa Competition Commission said in a notice dated last week Monday that it had started collecting views from interested parties including competitors, suppliers and customers over the two deals. KCB in late November last year announced that it would acquire 62.06 percent stake in Banque Populaire Du Rwanda (BPR) and 100 percent stake in African Banking Corporation Tanzania Limited (BancABC). The lender, which already has presence in the two markets, signed a share purchase agreement with London-based Atlas Mara Limited and gave itself a six-month timeline to complete the deal. The transaction will be settled in cash with $32 million being incurred on BPR and $8 million on BancABC. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 2,016 Location: Kitale
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Ericsson wrote:https://www.businessdailyafrica.com/bd/corporate/companies/kcb-seeks-approval-to-buy-two-banks-in-tz-rwanda-3275184
KCB Group has made a formal application to the regional competition watchdog to be cleared for the Sh4.4 billion ($40 million) deal in which it is seeking to acquire two banks in Tanzania and Rwanda.
Comesa Competition Commission said in a notice dated last week Monday that it had started collecting views from interested parties including competitors, suppliers and customers over the two deals.
KCB in late November last year announced that it would acquire 62.06 percent stake in Banque Populaire Du Rwanda (BPR) and 100 percent stake in African Banking Corporation Tanzania Limited (BancABC).
The lender, which already has presence in the two markets, signed a share purchase agreement with London-based Atlas Mara Limited and gave itself a six-month timeline to complete the deal.
The transaction will be settled in cash with $32 million being incurred on BPR and $8 million on BancABC. The process looks like it will take long to conclude Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Ebenyo wrote:Ericsson wrote:https://www.businessdailyafrica.com/bd/corporate/companies/kcb-seeks-approval-to-buy-two-banks-in-tz-rwanda-3275184
KCB Group has made a formal application to the regional competition watchdog to be cleared for the Sh4.4 billion ($40 million) deal in which it is seeking to acquire two banks in Tanzania and Rwanda.
Comesa Competition Commission said in a notice dated last week Monday that it had started collecting views from interested parties including competitors, suppliers and customers over the two deals.
KCB in late November last year announced that it would acquire 62.06 percent stake in Banque Populaire Du Rwanda (BPR) and 100 percent stake in African Banking Corporation Tanzania Limited (BancABC).
The lender, which already has presence in the two markets, signed a share purchase agreement with London-based Atlas Mara Limited and gave itself a six-month timeline to complete the deal.
The transaction will be settled in cash with $32 million being incurred on BPR and $8 million on BancABC. The process looks like it will take long to conclude We are in the third month,by end of May they should be done. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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https://www.businessdail...n-property-sale-3286860
The head of Cement maker East African Portland Cement Company (EAPCC), Stephen Nthei, has defied a regulatory notice from the board announcing his ouster amid a directors’ fallout over the sale of land parcels worth Sh10 billion. His replacement by Mr Kiprono, head of internal audit at EAPCC, comes in wake of differences on the board over the sale 2,000 acres of prime but idle land in Mavoko, Machakos County. Sources close to EAPCC’s board reckon Mr Nthei favoured the sale of the land done in partnership with KCB Group, which the cement maker owes Sh6.2 billion. But a section of directors are fronting for a Chinese investor and a Somalia national to acquire the land for Sh8 billion, triggering the boardroom fallout. Good move in them reducing their stock of non-performing/defaulted loans Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 2,016 Location: Kitale
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Ericsson wrote:https://www.businessdailyafrica.com/bd/corporate/companies/portland-boss-fights-fallout-over-sh10bn-property-sale-3286860
The head of Cement maker East African Portland Cement Company (EAPCC), Stephen Nthei, has defied a regulatory notice from the board announcing his ouster amid a directors’ fallout over the sale of land parcels worth Sh10 billion.
His replacement by Mr Kiprono, head of internal audit at EAPCC, comes in wake of differences on the board over the sale 2,000 acres of prime but idle land in Mavoko, Machakos County.
Sources close to EAPCC’s board reckon Mr Nthei favoured the sale of the land done in partnership with KCB Group, which the cement maker owes Sh6.2 billion.
But a section of directors are fronting for a Chinese investor and a Somalia national to acquire the land for Sh8 billion, triggering the boardroom fallout.
Good move in them reducing their stock of non-performing/defaulted loans They are very much aggressive on that front.The challenge will be to sustain it post Oigara period. Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Ebenyo wrote:Ericsson wrote:https://www.businessdailyafrica.com/bd/corporate/companies/portland-boss-fights-fallout-over-sh10bn-property-sale-3286860
The head of Cement maker East African Portland Cement Company (EAPCC), Stephen Nthei, has defied a regulatory notice from the board announcing his ouster amid a directors’ fallout over the sale of land parcels worth Sh10 billion.
His replacement by Mr Kiprono, head of internal audit at EAPCC, comes in wake of differences on the board over the sale 2,000 acres of prime but idle land in Mavoko, Machakos County.
Sources close to EAPCC’s board reckon Mr Nthei favoured the sale of the land done in partnership with KCB Group, which the cement maker owes Sh6.2 billion.
But a section of directors are fronting for a Chinese investor and a Somalia national to acquire the land for Sh8 billion, triggering the boardroom fallout.
Good move in them reducing their stock of non-performing/defaulted loans They are very much aggressive on that front.The challenge will be to sustain it post Oigara period. Succession planning KCB are good at it so no worries. Check the history from Gareth George,Terry Davidson,Martin Oduor Otieno,Joshua Oigara. The ones you should worry is Co-operative and Equity Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Ericsson wrote:Ebenyo wrote:Ericsson wrote:https://www.businessdailyafrica.com/bd/corporate/companies/portland-boss-fights-fallout-over-sh10bn-property-sale-3286860
The head of Cement maker East African Portland Cement Company (EAPCC), Stephen Nthei, has defied a regulatory notice from the board announcing his ouster amid a directors’ fallout over the sale of land parcels worth Sh10 billion.
His replacement by Mr Kiprono, head of internal audit at EAPCC, comes in wake of differences on the board over the sale 2,000 acres of prime but idle land in Mavoko, Machakos County.
Sources close to EAPCC’s board reckon Mr Nthei favoured the sale of the land done in partnership with KCB Group, which the cement maker owes Sh6.2 billion.
But a section of directors are fronting for a Chinese investor and a Somalia national to acquire the land for Sh8 billion, triggering the boardroom fallout.
Good move in them reducing their stock of non-performing/defaulted loans They are very much aggressive on that front.The challenge will be to sustain it post Oigara period. Succession planning KCB are good at it so no worries. Check the history from Gareth George,Terry Davidson,Martin Oduor Otieno,Joshua Oigara. The ones you should worry is Co-operative and Equity Giddy at Coop is more of a concern than Mwangi, ni hayo tu  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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Angelica _ann wrote:Ericsson wrote:Ebenyo wrote:Ericsson wrote:https://www.businessdailyafrica.com/bd/corporate/companies/portland-boss-fights-fallout-over-sh10bn-property-sale-3286860
The head of Cement maker East African Portland Cement Company (EAPCC), Stephen Nthei, has defied a regulatory notice from the board announcing his ouster amid a directors’ fallout over the sale of land parcels worth Sh10 billion.
His replacement by Mr Kiprono, head of internal audit at EAPCC, comes in wake of differences on the board over the sale 2,000 acres of prime but idle land in Mavoko, Machakos County.
Sources close to EAPCC’s board reckon Mr Nthei favoured the sale of the land done in partnership with KCB Group, which the cement maker owes Sh6.2 billion.
But a section of directors are fronting for a Chinese investor and a Somalia national to acquire the land for Sh8 billion, triggering the boardroom fallout.
Good move in them reducing their stock of non-performing/defaulted loans They are very much aggressive on that front.The challenge will be to sustain it post Oigara period. Succession planning KCB are good at it so no worries. Check the history from Gareth George,Terry Davidson,Martin Oduor Otieno,Joshua Oigara. The ones you should worry is Co-operative and Equity Giddy at Coop is more of a concern than Mwangi, ni hayo tu Equity is Mwangi and Mwangi is Equity. Ni hayo tu.
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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KCB pre-tax profit for FY2020 is ksh.27.5bn minimum. Q4 must have been good for them. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 2,016 Location: Kitale
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Ericsson wrote:KCB pre-tax profit for FY2020 is ksh.27.5bn minimum.
Q4 must have been good for them. Link? Towards the goal of financial freedom
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