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Wanjui, tycoon pocket Sh3bn in UAP share sale


Wanjui, tycoon pocket Sh3bn in UAP share sale
Summary
Businessmen Joe Wanjui and James Muguiyi have completed the sale of a combined six percent stake in insurance firm UAP Holdings to South African multinational Old Mutual Holdings for R437 million (Sh3.2 billion).
Old Mutual announced in August 2018 that it would buy a total of 12.7 million of the insurer’s shares from the two shareholders but only started the purchases last year, according to disclosures in UAP’s latest annual report.
It acquired 2.8 million shares from Mr Muguiyi in the year ended December and purchased the remaining 9.8 shares earlier this year.

Newspapers Review for July 7: Ruto Reaches Out to Oparanya, Wetang'ula for Western Kenya Votes


Newspapers Review for July 7: Ruto Reaches Out to Oparanya, Wetang'ula for Western Kenya Votes
Tuko
16 hrs ago
Racheal Nyaguthie
© Provided by Tuko
Newspapers Review for July 7: Ruto Reaches Out to Oparanya, Wetang'ula for Western Kenya Votes
On Wednesday, July 7, the national dailies reported on President Uhuru Kenyatta's Ukambani tour which had been postponed due to COVID-19 fears.
© Provided by Tuko
National dailies on Wednesday, July 7. Photos: Daily Nation, The Standard, The Star and Taifa Leo. Source: UGC
The papers also widely reported on the punitive taxes imposed on Kenyans as prices of basic goods hit a record high at a time when Kenyans are struggling to stay afloat amid the COVID-19 pandemic.

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