The Linde Group, (Germany) has applied to takeover the BOC Group (UK) which owns 65% of BOC Kenya - and who are in the process of acquiring Carbacid Kenya. Both local company shares remain suspended on the NSE and BOC Kenya managers’ don’t expect this new deal to affect the Carbacid takeover which is yet to be approved by the CMA.
- The Judge at the corruption trial of former Central Bank Governor, Andrew Mullei has refused to allow Charterhouse Bank lawyers to cross-examine witnesses.
- Kenya Commercial Bank has thwarted efforts by the City Council to set up a public toilet on Aga Khan walk, opposite Kencom House.
Sometimes, Government is a good shareholder
Kenya has blocked Ethiopian Airlines from operating daily flights on the Entebbe-Nairobi route. The move could however trigger a backlash since it’s only a matter of time before other African counties, envious of KQ, and desiring to revive/support their airlines, retaliate with their own trade blockades.
The high court has indefinitely extended the period for Madaraka residents to obtain financing to purchase their houses.
Equity No. 1
Equity, is the first bank to report quarterly results as at 30 June 2006 and they have come out just in time for their shares to list on the NSE on August 7. On Monday, the Bank announced some amazing numbers. From a year ago (June 2005) assets are up 55%, pre tax profit is up 115%, deposits are up 67% while loans are up 130%. Good Buy, on August 7? Maybe!
All the three major phone companies in Kenya are now offering VoIP for international calls.
A comparison of call costs to the USA;
- Telkom 888 15/= per minute ($0.2)
- Celtel 123 29/= ($0.39)
- Safaricom 888 30/= ($0.4)
The Daily Nation has joined the East African Standard and now restricted the magazine section articles on their website to premium subscribers only (One month costs $10 while annual cost is $ 60)
Cool true story on converting a Volkswagen Jetta to run on cooking oil and achieve 600 miles a gallon! Wouldn’t it be cool if someone started converting our local Toyota’s so that a taxi driver could buy chips, from Kenchic and then squeeze out the oil to put in his fuel tank?
Oil & Gold
Gold: encouraging results from Migori
Oil: High potential deposits in Lamu.