Umeme was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered again of 8.88% to end the day at KES. 19.00.

Britam shares continue to decline as it is still suffering the repercussions of being associated with Bramer Bank Corporation and BAI Company (Mtius) Ltd.

Following the action of the Bank of Mauritius revoking the banking license of Bramer Bank Corporation and the subsequent appointment of PwC by the Financial Services Commission as conservator to protect the interest of policyholders of BAI Company (Mtius) Limited, Britam issued a statement saying:

• Britam (Kenya) is an independent legal entity separate from Bramer Bank Corporation and BAI Company (Mtius) Ltd (BAI).
• Britam is a diversified financial services group listed in the Nairobi Securities Exchange with over 25,000 shareholders. One of Britam’s shareholders, British-American (Kenya) Holdings Limited that holds 23.34% stake, is related to BAI.

• Bramer Bank Corporation is not a shareholder of Britam (Kenya).

• There are common directorships between Britam, BAI and Bramer Bank Corporation. However, Britam is managed through an independent board of directors and management

Besides that, there is no other relationship between Britam (Kenya) and BAI or Bramer Bank Corporation.

This statement has however not helped investors regain faith in the company as shares continue to decline.

The winners:

The other top gainers were: National Bank of Kenya Ltd (NBK), Kenya Airway’s Limited (KQ), Sasini Ltd (SASN) and Olympia Capital Holdings Ltd (OCH). Each closed at KES 24.50, 7.50, 16.00 and 5.65 respectively.

The losers:

The counters that shed the most value were: British- American Investments (BRIT), British American Tobacco Kenya Limited (BAT), Express Kenya Limited (XPRS), East African Breweries Limited (EABL) and Transcentury Limited (TCL). They ended the day at KES 22.25, 7.20, 5.25, 305.00 and 16.50 respectively.

Most shares traded:

Safaricom Limited (SCOM), Kenya Commercial Bank Limited (KCB), Equity Bank Limited (EQTY), Mumias Sugar Company Limited (MSC) and KenolKobil Limited (KENO). Over 5.5 million Safaricom shares changed hands today representing 30.1% of all shares traded.

MOVERS              VOL

SCOM                 5,584,800

KCB                     3,557,200

EQTY                    2,684,500

MSC                     1,073,100

KENO                  903,300