Browsing: Stanbic Bank Holdings

• Businesses in Kenya only saw a mild improvement in operating conditions in October 2022
• The latest Purchasing Managers’ Index showed that ongoing concerns about the rising cost of living led to a softer expansion in new orders and a renewed drop in output
• Inflationary pressures remained severe, as firms highlighted a record increase in purchasing costs from the previous month

According to the latest Purchasing Managers’ Index, businesses in Kenya only saw a mild improvement in operating conditions in October 2022.

The Stanbic Bank Kenya survey showed that ongoing concerns about the rising cost of living led to a softer expansion in new orders and a renewed drop in output.

Despite this, employment continued to rise amid increased backlogs, while firms were the most upbeat about the
outlook for activity since July 2021.

“October’s PMI continued to signal an improvement in business conditions, albeit with a loss of momentum
compared …

• Stanbic Bank majority shareholder Standard Africa Holdings Limited (SAHL) has received regulatory approval from the Capital Markets Authority to further extend the exemption from making a complete takeover
• Under the exemption, SAHL aims to acquire a maximum of 10.6 million ordinary shares in Stanbic to bring its total shareholding to up to 75.0 per cent of Stanbic Holdings’ ordinary shares
• SAHL first announced the intention to purchase shares from willing shareholders in March 2018 to acquire 59.0 million ordinary shares at a price of KSh 95.0 per share

Standard Africa Holdings Limited (SAHL) has received regulatory approval from Kenya’s Capital Markets Authority (CMA) to acquire a bigger stake in Stanbic holdings.

Standard Africa Holdings Limited (SAHL), which is the majority shareholder in Stanbic Holdings, said it received regulatory approval from the CMA to further extend the exemption from making a complete takeover.

Under the exemption, Johannesburg Stock Exchange (JSE) listed …