Feb 01, 2015
Sh1.9trn budget big on growth projects Saturday Brief – 31st Jan

Shilling steady on liquidity, overnight rates up The Kenyan shilling has become steady against the dollar on Friday with dollar demand restricted by tight local currency liquidity that has led to rising interbank lending rates. At 0743 GMT, commercial banks quoted the shilling at 91.65/75 to the dollar, from Thursday’s close of 91.60/70. This couldRead more

Upper Hill land most costly as prices in Nairobi up 535pc Friday Brief – 30th Jan

Investors in Uchumi issue gain 45 per cent over two weeks Uchumi’s share reached Sh13 this week, a 27 percent gain since it traded at a low of Sh8.05 after opening of its rights issue two months ago. The highest gainer has been Mumias Sugar’s whose stock is up 50 per cent. Those Uchumi investorsRead more

Tax on keg beer cuts sorghum prices by 80pc Thursday Brief – 29th Jan

Private equity Phatisa buys ‘significant’ stake in General Plastics A private equity fund, Phatisa has bought a major stake in General Plastics (GPL), a Nairobi-based family business specializes in manufacture of packages for food, beverage, cosmetics and agro-chemical companies. General plastics, which was founded in 1977, and currently has 900 employees, manufactures packages for BidcoRead more

State probes Mwalimu Sacco’s bid to buy Merali bank Wednesday Brief – 28th Jan

UAP second most valued insurer on Old Mutual deal UAP insurance has been ranked the second most valued insurance company after Britam. This comes after Old Mutual raised its stake in the insurance company to 60.66 per cent after buying an extra 37.33 per cent stake. The company which plans to list in the marketRead more

CfC Bank puts Naivasha flower grower Karuturi up for sale Tuesday Brief – 27th Jan

Use of cheques rises 10pc as clearance time falls to one day The clearance time for cheques has dropped to one day from three days since August 2013, due to an automated system allowing processing based on electronic images. This system has also eliminated physical movement of cheques to paying banks and reduced cheque frauds,Read more

Treasury seeks Sh45bn IMF facility Monday Morning Brief – 26th Jan

HF share defies dilution prospects as investors’ eye rights The share price of Housing Finance has risen by 7.7 per cent in the past five days to Sh48.75 last Wednesday, which could have been motivated by a publication by the mortgage lender of a timetable for the significantly discounted rights. The firm is selling anRead more

Fly540 loses bid to block Sh 101m tax demand Saturday Brief – 24th Jan

Ambitious Sh17b leather city could be a game-changer The government plans to construct a Sh17 billion leather city on a 500-acre piece of land in Kinanie, Athi River in Machakos County. Within the city will be 15 tanneries each with a production capacity of 10 tons of skins and raw hides per day and atRead more

CfC Bank puts Naivasha flower grower Karuturi up for sale Friday Brief – 23rd Jan

Kenya Revenue Authority to be split into two by year end The Kenyan Government will by the end of this year split Kenya Revenue Authority (KRA) into two independent agencies but inter-dependent agencies. This process of this split will begin by tabling of the Customs and Border Protection Agency Bill and the Inland Revenue AgencyRead more

Safaricom to set up Sh3bn M-Pesa Academy in Thika Thursday Brief – 22nd Jan

Experts see economic growth at 6pc According to a survey by HTM Capital shows, the economy is expected to grow at a minimum of six per cent this year. It is anticipated that the economy will benefit from one-off additions of between two and 2.5 per cent from infrastructure projects such as the standard railwayRead more

Housing Finance prices Sh3.5 bn cash call Wednesday Brief – 21st Jan

Britam to defend large HF stake in Sh3.5bn cash call The insurance and investment company which owns 46.08 per cent of Housing Finance will enable the mortgage company to have a successful fund raising if it participates in the upcoming rights issue. Britam, which acquired a 24.7 per cent stake of Housing Finance that wasRead more