Performances of the Safaricom shares arguably lead to lower performance at the Nairobi Securities Exchange . Trading over 76 million shares at a lower price takes its toll on the bourse and the day’s end performance was proof of it. Both the All-Share index and the 20-share index dipped in performance by 1.12 and 24.89 points respectively.
A summary of yesterday’s trading activities can be found here. The counters we shall divert our attention to (away from Safaricom) are;
- Barclays Bank – The bank’s CEO and Managing Director for East & West Africa, Adan Mohamed, has been appointed as Chief Administration Officer for Barclays Africa. He shall be sitting on the boards of 10 countries effective from February 2013. Such a move could increase investor confidence in the bank’s performance given its long term strategy and may result in either a higher price or stable price but increase in volumes traded. Monitoring the counter’s price change and quantity movement may be worth it today.
- Britam – The Company has partnered with Safaricom and changamka to launch a medical insurance product. The product, dubbed Linda Jamii, will make insurance a sexy product….words from Britam CEO Benson Wairegi. Given the subscriber base of Safaricom, the product has the potential to yield high returns for Britam. The service is affordable and payments have been made easy. There could be a few shareholders who have seen it from this perspective and will be monitoring the stock. Why not join them today?