Yesterday we looked at the entertainment industry, specifically East African Breweries Limited (EABL) and British American Tobacco (BAT). Share price for both went up by KES 2. EABL closed the day at KES 244 while that of BAT at KES 457.
Here are the shares we will be closely watching in today’s trading at the Nairobi Securities Exchange:
- Kengen – Kenya’s largest electricity producer has just seen the CEO Eddy Njoroge announce his stepping down from his position. He crossed the 60 year age mark this week and is bound by law to retire. He made his “goodbye” speech this week and also announced the search for a new CEO starting January 2013. This corporate action may, or may not have an effect on the company valuation. We shall keep an eye on the stock’s price movement.
- KCB – Much like Kengen, the bank is to see a change in CEO. Martin Oduor has resigned but not because of age. His replacement is Joshua Oigara, who was the Chief Financial Officer of the bank. Change in leadership always has an effect on stocks price generally and this institution may just see material movement in its valuation. Shareholder confidence is key and any slight changes results in change in share price.