Retail chain Uchumi Supermarkets has closed operations in five outlets within Kenya as part of its reorganisation process that will see about 253 workers lose their jobs.

The Treasury has capped approval fees payable by issuers of initial public offers (IPOs) and corporate bonds at Sh30 million, in a move aimed at encouraging more large companies to list securities on the stock exchange.

KenolKobil nearly doubled its net profit for the year ended December 2015 helped by a reduction in borrowing costs and the sale of assets following disposal of its units in Tanzania and the Democratic Republic of Congo.

Co-operative Bank Of Kenya on Thursday released its Full Year 15 results posting a profit after tax growth of 46.2% to Ksh 11.7 Billion.