Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange
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| Email: | hello@abacus.co.ke |
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1. Equity Reports 58% Growth in Pre Tax Profit
Equity Bank has reported a 58% in growth of profit before tax in its 3rd quarter result for the 3 months ending September 30th. The Bank reported a profit of KES 10.9 Billion in the 3rd quarter up from KES 6.9 Billion reported in the second quarter of 2012.
The bank disclosed that in the 3 months to September 30th, loans and advances to customers stood atKES 119.5 billion up from KES 114.3 billion and KES 112.9 billion in the 2nd and 1st quarters respectively.
2. Treasury Borrowed Excess Money for Poll Kit Purposes
The controversy surrounding the cost of securing Biometric Voter Registration (BVR) kits deepened on Monday after it emerged that the Treasury borrowed more than it needed to from the Standard Chartered Bank.
Finance permanent secretary Joseph Kinyua said that although the government signed a KES 7.2 billion facility from the bank, it would only draw KES 6.3 billion.
3. Shilling Holds Firm Ahead Of Central Bank's Meeting
The shilling gained slightly against the dollar in Monday’s trading, buoyed by traders’ gain taking ahead of yesterday's Central Bank meeting expected to review the policy lending rate.
The local currency closed at 85.45 units to the dollar compared to Monday’s 85.55, according to dealers at Bank of Africa.
4. Kenya Airways Drops Most in 6 Weeks After Loss
Kenya Airways Ltd. (KNAL), sub-Saharan Africa’s third-largest airline, dropped the most in more than six weeks after reporting a first-half loss and saying full-year earnings would be reduced by at least 25 percent.
The stock fell 3.6 percent to 12 shillings by the close in Nairobi, the biggest decline since Sept. 21. About 437,000 shares, 107 percent of the three-month daily average, were traded.
5. The MPesa Loophole that Remains Unsealed
Safaricom unveiled a service a while back that allows subscribers to buy data bundles directly from their M-Pesa account by dialing *544#. The service is relatively convenient since it eliminates the trouble of first having to purchase airtime through M-Pesa, then using the airtime to purchase data bundles. In addition to buying yourself data bundles, the service allows you to purchase bundles for other subscribers using your M-Pesa account.
And that’s where the loophole lies...
6. Drug Resistant Malaria Strain Found in Kenya
New evidence has confirmed the presence of hard-to-treat malaria strains in Kenya despite continued denials by government officials and lobbies.
Data collected by local and foreign scientists in western Kenya shows that it is taking much longer to treat malaria in some patients than before using first line medicines.
7. It's Obama! Barack Wins the US Presidential Election
US President Barack Obama get's re-elected. Bloomberg Live Blog. And Kogelo is ecstatic.
8. Nation Gets KES 6 Million Relief in Defamation Case
The Court of Appeal has reduced damages awarded to a judge arising from a case against the Nation Media Group.
Commercial Division Judge Daniel Musinga, who had been awarded Sh10 million in a defamation case, will now get KES 4 million. At the time he sued NMG, Judge Musinga was a senior partner at Musinga and Company Advocates, and he claimed the article published in 1999 injured his reputation.
Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange
| Email: | hello@abacus.co.ke |
|---|---|
| Tel: | +254 792 753 774 |