Money

Money

The multi-billion businesses controlled by top 10 richest men in Kenya

 Kenya is home to over 125 billionaires, according to a report by Knight Frank. The country’s wealthiest individuals have invested in various sectors, including manufacturing, the financial sector, hospitality, and real estate, among others. Below is the list of some of the wealthiest men in Kenya. Bhimji Depar Shah The founder of Bidco Industries is
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Video: US Senators angered by Ruto’s dalliance with China

 President William Ruto’s growing ties with China have ruffled feathers in Washington, with US senators openly questioning whether Kenya remains a trusted ally of the United States. The concerns were raised  during a U.S. Senate Foreign Relations Committee hearing held on Tuesday, May 13, titled “East Africa & The Horn: At A Turning Point Or
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Finance Bill 2025: The bitter and sweet spots of proposed bill

 The Finance Bill 2025 is here, and unlike its predecessor that sparked nationwide Gen Z-led protests in 2024, this year’s version takes a softer approach. The 2024 bill was widely rejected for targeting individuals with tax hikes on basic goods and proposing a controversial motor vehicle tax, triggering mass demonstrations that led to its withdrawal.
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Understanding rights issue before you invest your money

 Rights issues are an invitation to a company’s existing shareholders to buy additional new shares in the company. This is done in a fixed proportion to their existing shares. The shares issued in a rights issue are priced below the current market price to make them attractive to shareholders. For example, if XYZ Company held a rights issue with a one for
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Standard Media to ask for Sh1.5bn from shareholders in rights issue

 The Capital Markets Authority has given financially-troubled media house, Standard Media Group, the green light to hold a rights issue. In the upcoming rights issue, the Standard Media will be looking to raise Sh1.5 billion from shareholders. “The [Capital Markets Authority] has reviewed the documentation and information memorandum submitted in support of the application for
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“I won Sh 224k bet but in the morning I had nothing,” says Harrison Mwaura

 When Harrison Mwaura won a jaw-dropping Sh 224,000 from a single bet, he thought he’d hit the jackpot, literally. But by sunrise, all the money was gone. All he had left was regret, confusion, and a chicken he had bought for Sh1,000. Today, Harrison is an addiction counselor and he shared his gripping story on
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