james wika 
- CMA suspends East African Cables, TransCentury Shares Trading
The Capital Markets Authority(CMA) has suspended trading in shares of the TransCentury Limited (TCL) and its subsidiary East African Cables indefinitely, in a bid to protect investors.
This comes after the two firms were last week taken over by Equity Bank over a defaulted loan of sh 4.74 billion.
“Notice is hereby given of the suspension in trading of TransCentury PLC and East African Cables PLC shares following the placement of TransCentury PLC under receivership and East African Cables PLC under administration and the appointment of Merzrs,” the CMA said in a notice issued via the Nairobi Securities Exchange (NSE).
“George Weru and Muniu Thoithi of PricewaterhouseCoopers Limited as joint receivers and managers effective June 20, 2025.”
CMA stated that the suspension falls under Regulation 73(2)(a) of the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023.
“The suspension of trading in the shares of the company will remain in force indefinitely with effect from June 23, 2025,” CMA stated.
CMA further advised the shareholders, investors and the general public to take note of the suspension.
The move reinstates Muniu Thoithi and George Weru of PricewaterhouseCoopers Limited as joint receivers and managers of TransCentury and joint administrators of East African Cables.
Both were initially appointed on June 16, 2023, and resumed operations on June 19, 2025, following the expiry of a 90-day extension of court orders.
East African Cables, however, has been placed under administration, a legal process to try and save the company or aid more for the creditors than liquidation.
Both companies are now under the direct control of PwC-appointed administrators, with all communication, claims, and transactions to go through the respective PwC channels.
The Court of Appeal had, on May 23, dismissed a bid by East African Cables to stop Equity from auctioning its properties over a sh 2.2 billion debt.
