BOC Kenya’s Profits Up By 88 Percent For Year Ended December

BOC Kenya’s net profit rose by 88 percent on account of increased demand for oxygen in hospitals caring for COVID-19 patients who needed assistance in breathing. The company posted a net income of 105.2 million shillings compared to 55.9 million shillings a year earlier.

The sales for BOC Kenya increased 12.5 percent to 1 billion shillings from 975.8 million shillings. The disclosures have been made in relation to the company’s proposed buyout by Carbacid Investments Plc at a price of 63.5 shillings per share.

“The Covid-19 pandemic has had an impact on BOC Kenya as it has led to an increased demand for oxygen and therefore an opportunity for volume growth,” Dyer and Blair Investment Bank.

Kenya Re Looking For Someone To Buy its Reinsurance Plaza in Kisumu

Kenya Re-Insurance has put up the Reinsurance Plaza building in Kisumu for sale, expecting to receive at least 1 billion shillings.

The eight-story commercial property—which is one of Kisumu’s most iconic buildings— is situated at the junction of Jomo Kenyatta Highway and Oginga Odinga Street in the town center, sitting on 2.23 acres of land.

“The property and the developments therein are being offered for sale on as is where is’ basis and is subject to a reserve price of Sh1 billion for the whole lot, Kisumu Municipality/ Block 7/378,” Kenya Re said.

More here.

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