By Duncan Miriri NAIROBI (Reuters) -Kenya’s KCB Group has agreed to sell subsidiary National Bank of Kenya (NBK) to Nigeria’s Access Group, KCB’s chief executive said on Wednesday. Paul Russo told an investor briefing the deal was struck at 1.25 times book value, but did not give the exact figure. “The right thing to do …
KCB Group to sell National Bank of Kenya to Nigeria’s Access Read More »
JOHANNESBURG (Reuters) – South Africa’s parliament said on Wednesday it had decided to refer to a special investigative unit the collapsed deal to sell a majority stake in South African Airways (SAA) to a consortium. The deal to sell a controlling stake in SAA to the Takatso Consortium was announced by the government in 2021 …
South African parliament refers failed SAA deal for investigation Read More »
NAIROBI (Reuters) – Kenya’s second biggest lender by assets KCB Group posted a 15% drop in pretax profit for last year to 48.5 billion shillings ($367.42 million), it said on Wednesday, weighed on by higher provisions for bad debts and other costs. ($1 = 132.0000 Kenyan shillings) (Reporting by Duncan Miriri; Editing by Kirsten Donovan)
(Reuters) -Canadian Miner Barrick Gold said on Wednesday it was ready to explore new gold and copper deposits in the Democratic Republic of Congo, in partnership with the government. The world’s No. 2 gold miner wants to explore the region after it had success with its Kibali gold mine in the northeast DRC. The mine …
Barrick looks to explore new gold, copper deposits in DR Congo Read More »
JOHANNESBURG (Reuters) – Former Steinhoff chief executive Markus Jooste has been fined 475 million rand ($25.15 million) by South Africa’s Financial Sector Conduct Authority for publishing false and misleading financial statements, the regulator said on Wednesday. Steinhoff has suffered hefty losses and a stream of lawsuits since revealing holes in its accounts in December 2017, …
S. Africa regulator fines former Steinhoff CEO for accounting fraud Read More »
NAIROBI (Reuters) – Kenya’s KCB Group has accepted a binding offer from Access Group for all the shares of its subsidiary National Bank of Kenya, its group chief executive said on Wednesday. The deal, which will be valued at 1.25 times the book value, is expected to close in the next six to nine months, …
KCB Group has accepted a binding offer for subsidiary NBK, CEO says Read More »
JOHANNESBURG (Reuters) – South Africa’s consumer inflation ticked up for the second month in a row in February, moving closer to the central bank’s upper target, which economists say could mean a longer wait for rate cuts this year. Headline consumer inflation rose to 5.6% year on year from 5.3% in January, Statistics South Africa …
South Africa’s inflation uptick makes case for delayed rate cuts Read More »
(Reuters) -Prudential on Wednesday declared a cash dividend for 2023 and reported an 8% rise in its annual operating profit, as upbeat policy sales across its key markets in Asia and Africa propelled the insurer’s revenue growth. The company benefited from strength in its agency and bancassurance distribution channels, its asset management business Eastpring, and …
Insurer Prudential’s annual earnings rise on strong policy sales Read More »
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. The central bank policy party rolls on into Wednesday with China and Indonesia under the spotlight in Asia ahead of the main event in Washington later in the day, as investors continue to digest the Bank of Japan’s historic rate hike …
Morning bid: Yen hurtles toward historic low, Fed in focus Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices rose to multi-month highs for the second straight session on Tuesday as traders assessed how Ukraine’s recent attacks on Russian refineries would affect global petroleum supplies. U.S. West Texas Intermediate crude futures gained 75 cents, or 0.9%, to settle at $83.47 a barrel, the highest since Oct. …
Oil rises to multi-month highs on Russian supply concerns Read More »
