Kenya

Kenya gets $700 million IMF’s insurance finance

Posted on by The Editorial Team
Kenya gets $700 million IMF’s insurance finance

The IMF Executive Board approved February 2 a financing package for Kenya of about $700 million that the East African country’s authorities plan to use as insurance against external shocks. This financing is precautionary, as Kenya plans not to draw on it unless the balance of payments comes under pressure. The financing package approved by the Board involves “blended access”—combined general and concessional resources comprising a $504.3 million Stand-By Arrangement and a $194 million arrangement…

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Centum exits stake in UAP Holdings Limited

Posted on by The Editorial Team
Centum exits stake in UAP Holdings Limited

Centum Investment Company Limited (“Centum”) is pleased to announce that it has entered into an agreement with a member of the Old Mutual Group for the sale of Centum’s 13.75% shareholding in UAP Holdings Limited.  Alongside the sale by Centum, Dr Christopher John Kirubi, a director and shareholder of Centum, has agreed to sell his 9.58% stake in UAP Holdings Limited to the same buyer. When the sale is completed, Old Mutual Holdings will be…

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