Dec 21, 2014
Business News Kenya November 14 by Abacus Monday Morning Brief – Dec 1

Kenyans lose millions on Facebook Scam More than 5,000 Kenyan Facebook users have lost millions of shillings in a hacking scam that lasted for a year, a local cyber security firm has revealed. The firm, Serianu, says it has unmasked a Kenyan hacker who broke into personal accounts of Facebook users in Nairobi, Mombasa andRead more

Kenya business news Nov 25 by Abacus Tuesday’s Morning Brief – Nov 25

Kenyan tea firms warn of poor annual earnings after H1 profits dip Kenyan tea firms Williamson Tea and peer Kapchorua reported on Monday weaker first-half pretax profits, and both said falling tea prices would reduce their respective full-year earnings by at least a quarter. Williamson Tea, which shares owners with Kapchorua, said its pretax profitRead more

Closing Bell: Scangroup Top Gainer While Longhorn Slumps At The NSE

Scangroup Limited (SCAN) was the top gainer at the Nairobi Securities Exchange (NSE) on the basis of its closing price. It rose 9.52% to close at KES 46.00. While Longhorn Kenya Limited (LKL) slumped 9.80% to close at KES 23.00. Longhorn’s annual general meeting was concluded last Friday where it was agreed that the company would have aRead more

Ideas For CIOs and IT Managers On Securing Their Networks Keep Your Business Safe: Ideas On Securing Your Computer Networks

Eng. Tom Makau the Chief Technology Officer at Callkey writes: There has been a lot of talk about increased cases of cyber criminals accessing information stored on computing networks. Many an events organization have also held conference after conference targeting IT managers and Chief Information Officers (CIOs) to ostensibly sensitize them on the matter. ManyRead more

Kenya business news Nov 25 by Abacus Monday’s Morning Brief – Nov 24

US oil firm Camac suspends Lamu exploration Camac Energy, a Houston based oil explorer, has suspended carrying out seismic surveys in Lamu after concerns were raised over the effect of the operations on the Arabuko-Sokoke forest in the area. [...] Local contractors take 40% of SGR fund Local firms are angling for opportunities set aside forRead more

Closing Bell: Eaagads Top Gainer At The NSE After Releasing Half Year Results

Eaagads Limited (EGAD) was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a massive gain of 54.88% to end the day at KES 63.50. Its weighted average price for the day was KES 53.16. If you were observing the market you would have noticed the wild swings in the share price today, it touchedRead more

Micah Cheserem illustrates County revenue allocation in Kenya by Abacus Fairness Should Inform Revenue Sharing Between Counties

As you would know, Kenya’s Commission on Revenue Allocation (CRA), the constitutional body tasked with dividing government revenue between the 47 counties of Kenya has released a new revenue allocation formula. The formula introduces two new parameters to the current five parameters which include the development factor and personnel emolument factor. Mzalendo discuss the changes below: TheRead more

Kenya business news Nov 25 by Abacus Friday’s Morning Brief – Nov 21

Africa’s mobile money makes its way to Europe with M-Pesa M-Pesa has nearly 17 million active customers and as many as 186,000 agents worldwide. Customers make more than €900 million (US$1.1 billion) worth of person-to-person transactions a month. Now, the technology that was honed in Africa is being exported to Europe, with the launch ofRead more

Nse Kenya prices Nov 20 by Abacus Closing Bell: Standard Group Rebounds While Kapchorua Tea Slumps At The NSE

In an interesting twist of events Standard Group Limited (SGL) rebounded from being yesterday’s worst performer at the Nairobi Securities Exchange (NSE) to today’s top gainer. It ended the day at KES 36.75, up 9.70% from yesterday’s close of KES 33.50. However, this was on thin volumes with only 300 Standard media shares changing hands today. 100 isRead more

Gold Cards Aren't The In Thing Anymore Gold Cards Aren’t The In Thing Anymore

Statistics from the Central Bank of Kenya show that in August this year there were over 185,000 credit cards in Kenya. These cards were used in slightly above 106,000 transactions which carried a value of above KES 1 billion. This was an increase of over 66% from the KES 615 million that was transacted inRead more