Kenya Airways Rights Take Off
National carrier Kenya Airways on Friday announced that it had entered an agreement with the International Finance Corporation (IFC) in which the IFC will buy shares and loan out money to the airline to the tune of Kshs. 8.7 billion ($105 million). KQ chief executive, Mr. Titus Naikuni,…
KQ rights issue off to a promising start.
Today the Kenya Airways rights issue opened. The rights issue is such that each shareholder has the opportunity to purchase 16 new shares for every 5 shares they currently own at Ksh 14 per share. The World Bank ‘s private sector lending arm the International Finance Corporation (IFC) has committed…
NSSF To Build 30,000 Houses in Mavoko
The National Social Security Fund is planning to build 30,000 housing units in a mixed residential development in Mavoko. This comes as the Government is urged to change its approach to the current housing delivery methods. Focus has been on providing housing for the high income earners and…
CLOSING BELL 30/3/2012
Gainers Price Change Pan Africa Insurance Holdings 24.75 7.61% Sasini Limited 11.05 2.79% Express Limited 4.15 2.47% Standard Chartered Bank Limited 174.00 1.75% Scangroup Limited 50.50 1.51% Losers Price Change Standard Group Limited 21.00 8.70% Total Kenya Limited 14.05 4.10% Jubilee Holdings Limited 178.00 3.26% Eveready…
Kenya Airways Rights Issue Taking Off
In a research note sent out on Thursday by Dyer and Blair Investment Bank, Kenya Airways say that they have received commitments for 70% of the shares on offer in its on-going rights issue. Majority shareholders Dutch airline KLM (26%) and the Government of Kenya (23%) had…
Got a Chama? Get a Financial Pro to Help
Local investment groups popularly known as ‘Chamas’ are playing an increasingly visible and crucial role in the economy and as such need to adopt modern investment practices. Two top financial executives have advised such investment groups to seek professional support in identifying and exploiting emerging economic…
Family Bank to list on the NSE
image from www.familybank.co.ke Family Bank is seeking to list at the Nairobi Securities Exchange. The bank started as Family Finance Building Society in 1984 with the vision to serve the needs of the mass market which had been ignored by the mainstream banks. Over the years it…
Jubilee Announces Results: Net Profits Increase By 4%
Jubilee Holdings Limited has released its audited financial results for the year ended 31st December 2011. Shareholders will be happy to hear that the company posted growth on almost all fronts with net insurance premium and revenue increasing from Kshs. 5,360,136,000 in the previous period to Kshs. 7,341,996,000 representing growth…
ScanGroup to expand further into Sub-Saharan Africa
According to the Business Daily, marketing services firm ScanGroup has planned acquisitions in Nigeria, Angola and Mozambique by year-end as it seeks to serve multinational clients in diverse markets. The company intends to buy controlling stakes in marketing firms in the three countries to give it…
Closing Bell 29/3/2012
Gainers Price (Ksh) Change (%) TransCentury Limited 22.00 6.02 Kakuzi 79.50 4.61 Eveready East Africa Limited 1.50 3.45 Unga Group Limited 9.30 2.76 Sameer Africa Limted 3.90 2.63 Losers Price (Ksh) Change (%) Sasini Limited 10.75 4.44 Tatal Kenya Limited 14.65 4.25 AccessKenya Group Limited 4.00 2.44 Bamburi Cement…
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