Market News In Brief: KCB Receives Ksh 1.8Bn From KMRC

By Soko Directory Team / Published July 7, 2022 | 3:22 pm

KEY POINTS

Kenya Power has been piloting the fixed internet offering to a number of its corporate customers for the past few months.

KEY TAKEAWAYS

Ekaterra Kenya, which already owns approximately 52% of issued ordinary shares of Limuru Tea, has offered to acquire 100% of Limuru Tea's ordinary shares that are not already owned by it.

KCB Reaps Big From KMRC

KCB Group has received 1.8 billion shillings from the Kenya Mortgage RefiKenya Power has indicated that it intends to offer fixed internet services before the end of the current financial year (FY22/23).

The venture into fixed internet services will be an advancement of its current model through which the company leases fiber-optic cables attached to its transmission lines to internet service providers.

Kenya Power has been piloting the fixed internet offering to a number of its corporate customers for the past few months.

Safaricom Launches Zero-interest Credit Service

Safaricom has launched a zero-interest credit service called Faraja which will allow customers to shop for goods and pay later.

The credit service, which is in partnership with Equity Bank, will apply to goods ranging from as low as 20 shillings up to a maximum of 100,000 shillings and the transaction charges applicable at the point of sale will be paid by Equity Bank. Faraja is designed to essentially work as a digital credit card and is set to undercut products such as Lipa Later.

Ekaterra Kenya Offers To Acquire 100% of Limuru Tea

Ekaterra Kenya, which already owns approximately 52% of issued ordinary shares of Limuru Tea, has offered to acquire 100% of Limuru Tea’s ordinary shares that are not already owned by it.

The notice stated that Ekaterra will only acquire additional shares from those shareholders who express their wish to realize their investment. Ekaterra Kenya also stated that it has no current plans of delisting the company from the NSE.

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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