Privately-owned Nakumatt, Kenya's biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, part of an effort to bolster its balance sheet and pay off debts, its managing director said on Wednesday.
Kenya’s inflation rate fell to 6.35 percent year-on-year in December from 6.68 percent recorded in November, the statistics office has announced.
French automaker Peugeot is set to start local assembly of its brands from next year, becoming the latest multinational to produce vehicles in Kenya.
According to Central Bank of Kenya Dr Governor Patrick Njoroge, the regulator will soon begin licensing of new banks after it freezed the exercise in November 2015 on concerns that most local banks were undercapitalized as compared to the foreign banks operating in Kenyan soil.
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