Longhorn, Home Afrika biggest gainers at NSE

The small cap counters of Longhorn and Home Afrika were the top gainers at the Nairobi Securities Exchange (NSE) last week, bucking the market trend that saw 42 out of the 61 actively traded stocks record share price declines. Publisher Longhorn was the leading gainer in the market at 29.8 per cent in the week to close at [...]

FEP set to pay Sh4bn for controlling stake in Nyachae’s Credit Bank

Fountain Enterprises Programme (FEP) is set to acquire a 75 per cent stake in Credit Bank for Sh4 billion upon approval by the Central Bank of Kenya (CBK), the Business Daily has learnt. The firm will pay Sh4 billion to acquire to acquire a 75 per cent stake in Credit Bank. The lender will use the entire Sh4 billion to expand and is banking on creating synergy with the diaspora-heavy FEP’s other businesses, workforce and foreign footprint [...]

2016 foreign investor inflows seen jumping despite Fed rate hike

The stock market is set to attract higher foreign capital inflows this year compared to 2015 despite the much-feared US Fed rate hikes, analysts at Sterling capital say. Stronger economic fundamentals, including rising foreign reserves and manageable debt are likely to help Kenya withstand the external shock [...]

January domestic borrowing down Sh10bn on bond maturities

Kenya’s net domestic borrowing for the current fiscal year dropped Sh10 billion in the first two weeks of this month to Sh83 billion due to heavy maturities, signalling further pressure on interest rates as the State plays catch up [...]

NSE 2015 performance below other frontier markets, Citi report shows

The Nairobi Securities Exchange (NSE) performed below other frontier markets due to the weakening shilling, Citi analysts say. The index, which measures dollar returns in select frontier markets, said most markets had negative returns due to a mix of falling oil prices and weakening of national currencies due to the strengthening dollar [...]

Moody’s airline industry outlook offers KQ hope

Global ratings agency Moody’s has predicted that profits in the global airline industry will be strong for the next one-and-half years, boosted by the plunge in oil prices, offering hope for struggling national carrier Kenya Airways. Moody’s expects that the global airline industry’s operating profit margin will top 10 per cent this year [...]

Safaricom, Airtel in high-stakes poaching game of senior managers

Senior Safaricom and Airtel managers have switched to rival camps in the past six months, indicating a heated talent war between the two telcos. Safaricom has poached four managers from Airtel and lost an equal number to its closest rival [...]

Billionaire investor Kimani ups Kakuzi stake to Sh1.7bn

Billionaire investor John Kibunga Kimani has raised his shareholding of agricultural company Kakuzi to 27.41 per cent, equivalent to Sh1.7 billion as per the company’s current market price. John Kibunga Kimani raised his stake in Kakuzi by 1.31 percentage points between May and November last year, equivalent to a Sh79.5 million buyout at current rates. Mr Kimani early last year announced his intention to eventually accumulate a 29 per cent interest in the company [...]