Business & Finance

Somewhere in the bible there must be a chapter and verse that says something like whatever is done in darkness must come to light some day. I can vaguely recollect something like that from my ill-conceived adventure to read the bible cover to cover like a novel sometime back in my childhood. And it seems that the source of some of the foreign exchange that has been pumped into the Kenyan market may not be restricted to the pirates of Somalia shores as some were prone to propagate. Our very own Peter Mwangi could very well be the tip of the iceberg as he was jailed for six years by a Massachusetts court for a Sh46.8 million fraud.

Thy Kingdom Falls; Co-operative Bank in a Brokerage Multi Million Shilling Loss

Coming from the highly publicized take over of the stock brokerage firm, Bob Mathews Stock Brokers Ltd in June 2009, to form Kingdom Securities, Cooperative Bank of Kenya has had a not so pleasant introduction into the kingdom of Nairobi Stock Exchange as they announced a Kenya Shillings loss of 19 million for the financial year ending 31st December 2009.

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