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Real estate turbulence goes beyond Covid-19

Real estate is a laggard in this tale of recovery. ....

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Poor sales push real estate firms off the cliff


THE STANDARD
REAL ESTATE
The mortgage decline in Kenya comes even as the government accelerates its affordable housing programme. [Courtesy]
No sooner had the grave of Chris Kirubi dried up than Centum Investment, a company the late tycoon founded, recorded its first loss in four decades.
This news must have left the flamboyant billionaire shaking in his grave. But even Kirubi would not be amused was he alive, that one of the most decorated feathers in his investment cap- Two Rivers Mall- contributed to the Sh1.4 billion loss in the year ending March.
It is not only Centum that had a rough patch owing to difficulties in the property market. Almost all the listed companies dealing in real estate have been hit hard by the Covid-19 pandemic. ....

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Poor sales push real estate firms off the cliff

Poor sales push real estate firms off the cliff
standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.

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Koa Partners With Britam To Offer Digital Savings Solutions

Koa Partners With Britam To Offer Digital Savings Solutions
sokodirectory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sokodirectory.com Daily Mail and Mail on Sunday newspapers.

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Britam posts record loss of Sh9bn after asset division hit


Britam posts record loss of Sh9bn after asset division hit
Thursday April 29 2021
By VICTOR JUMA
The company did not give details of what went wrong at the asset management unit.
The disclosure of the losses at the fund came after the insurer overhauled its executive and board, including the investment committee.
Britam Holdings #ticker:BRIT reported a record net loss of Sh9.1 billion in the year ended December when its asset management division underperformed.
The insurer had made a net profit of Sh3.5 billion a year earlier. The performance saw the company suspend dividend payouts, having made a distribution of Sh630.8 million or Sh0.25 per share the year before. ....

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