What's in a name?
Shakespeare once asked through one of his fictional characters. Another old adage goes that a rose will still smell the same, even if it is called by another name!.
The Kenyan corporate scene has been awash with news of different facets. The stock market is recording gains with indications that it might not be infected by the electioneering fever that is slowly creeping into our country with stories of proverbial horses in the race gearing for the penultimate showdown.
MPesa phonomenal growth is traversing international borders as new of mergers and acquisitions continue to hot up.
Companies are releasing outstanding results and profitability feats accompanied by bonuses and hefty dividends. Others are running back to the market to borrow through further rights issues and bonds issues.
Trancentury is entering the private equity and investments scene with a bang leaving many coveting their unparalleled feats.
News has it that the Treasury and the Commission of Monopolies has approved the buy out of CFC Group by Stanbic Bank, paving the way for further endorsement by banking and securities regulators. Closure of the deal will usher in Kenya's largest merger and acquisition deal, M&A, which is expected to change the way local banks sell financial services to the public.
Companies are rebranding and unleashing new products as banks continue hawking loans with a new found zeal. This comes after the realization that the common man who has a bank account
Kuwait’s MTC Group, the majority shareholder in Celtel, has formally announced a name change for its local subsidiary —the second in seven years . Celtel Kenya joins the company’s 21 sister companies in Africa and the Middle East in adopting the brand name Zain . The latest name change for Kenya’s second mobile phone service provider comes just three years after changed its trade name from KenCell following a buyout that brought in telecommunications tycoon Mohammed Ibrahim as the principal shareholder.
In 2004, Celtel bought its 60 per cent stake in KenCell Communications for $250 million prompting the name change.
This is the leading telecommunications mobile provider in 21 countries across the Middle East and Africa, today announced it has re-branded to Zain which becomes the Group's corporate master brand with immediate effect. In Africa the Zain Group will continue to trade under the Celtel brand.
Four country operations in Kuwait and Bahrain, (both formerly MTC-Vodafone), Jordan (formerly Fastlink) and Sudan (formerly Mobitel) will immediately re-brand to Zain. The Group will commence operations in the Kingdom of Saudi Arabia under the Zain brand in early 2008 after being awarded the third mobile telecommunications licence in July 2007. Additionally, the Group's successful operation in Iraq, MTC Atheer, will also re-brand to Zain in the near future after recently winning an extended 15 year nationwide licence.
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Friday, September 14, 2007
What's in a name?