Business: Corporate briefs.
Added on August 02, 2012
The African Development Bank has made a 1.2 billion shilling equity investment into African Trade Insurance Agency, to boost its core capital. The capital injection will enable ATI underwrite business in member countries. Under the agreement AFDB will also hold a seat on ATI’s board allowing it to co-finance with the World Bank, ATI’s expansion into new African member countries especially in West Africa. Else where, the management of auto dealer CMC motors has welcomed high court ruling by Justice Isaac Lenaola dismissing with costs, a contempt of court application against CMC directors by ousted CMC Chairman Peter Muthoka. In the ruling, the court held that the orders made by Justice Mumbi only touched on the day to day affairs of CMC holdings but did not deal with the composition of the board.
Last Modified: 02 Aug 2012 22:21
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