Gold ETF hits historic high on the Nairobi Securities Exchange

On the Nairobi Securities Exchange (NSE), the New Gold ETF price rose to the highest level since listing last week. This is due to the rise in global demand of Gold ETF as the dollar has lost its premium value. Market players have said they need to hedge portfolios because of the uncertainty that has […]

Global Brands Risk losing Trademark Protection in Kenya

Following the expiration of their trademark licenses, over 2,000 products risk losing their market protection in Kenya. This includes global brands like Vaseline, Smirnoff, and Total Gas. The Kenya Industrial Property Institute (KIPI), the custodian of trademarks in the country, said it would clear 2,162 products from its register if their owners failed to renew […]

MUA Ltd acquires Saham for Sh1.2 billion

Mauritian insurance company MUA Ltd has acquired Nairobi based Saham Assurance company in a deal worth around Sh1.23 billion MUA confirmed that the acquisition of Saham was finalised on Monday after it got all the necessary approval needed. The acquisition process began with the January’s signing of the Sales Purchase Agreement (SPA). After the SPA […]

Safaricom reveals its Stake in New M-Pesa Firm

Kenya telecom giant, Safaricom  has disclosed a 50 percent ownership of M-Pesa. This is after the firm and South Africa’s Vodacom acquired the mobile money platform from Britain’s Vodafone for Sh2.14 billion. In its latest annual report, Safaricom says that the two partners split the acquisition costs equally. This gives each of them a 50 percent […]

UBA Appoints new Deputy Managing Directors

UBA has announced the appointments of Ayoku Liadi and Oliver Alawuba as Deputy Managing Directors reporting to Group CEO, Kennedy Uzoka. In their capacity as Deputy MDs, they will oversee UBA’s Nigeria and Africa businesses, respectively. The creation of the new positions represents further strategic recognition of the growth of UBA’s pan-African business. Commenting on […]

Rova Caviar – The First of its Kind in Africa

Africa’s first ever caviar-producing sturgeon facility in Madagascar has decided to postpone its spring harvest this year. This is due to its supply chains being retracted and the lockdown the island nation imposed because of the coronavirus.   The caviar farm produces roe for the wealthy diners of Paris and other global capitals. But as social […]