Safaricom at all-time high as NSE soars
The indicative NSE 20-Share index gained 27.7 points in Thursday’s trading to close at 5473.8 as telecommunication giant Safaricom touched an all-time high and beer maker East African Breweries Limited (EABL) traded at the highest price in the last one year. This could be attributed to buoy by local investor demand as they price rally of blue chips. Safaricom has been spreading its wings beyond the communication sector having won lucrative tenders such as installing the security surveillance system, running electronic fertiliser subsidy management system and it has a stake in the 1963 transit card being introduced in the transport sector […]
HF to start construction of 424 houses in Komarock by mid-year
Housing Finance through its fully-owned subsidiary, the Kenya Building Society, is putting up the 424 units on 32 acres it owns in the Komarock area. HF chief executive Frank Ireri said part of the Sh3.5 billion the bank is raising through the ongoing cash call will go into the Komarock housing project. Another 848 units will be constructed from October 2016. Already 162 houses and a commercial centre are being built on the Komarock land and the management is looking at the possibility of packaging some of the properties into a Real Estate Investment Trusts (Reits) […]
Crown Berger stock gains 50pc on expansion plan lift
The sharpest gain in price has come in the past three weeks, lifting the stock to an all-time high of Sh165 seen Tuesday. The stock, however, Thursday retreated to Sh150 following the announcement that profit for 2014 would be at least 25 per cent lower than the previous year. The price gain could be attributed by investors eyeing gains from regional expansion into Rwanda announced earlier this week and a possible bonus or share split […]
Shoe vendor seeks regulatory approval for listing on NSE
Nairobi Business Ventures is seeking regulatory approval to list on the NSE’s Growth Enterprise Market Segment (Gems) as a strategy to raise capital to open new outlets and venture into manufacturing of leather footwear and accessories. NBV plans to set up a manufacturing plant in Kenya and a public listing allows it to tap a larger pool of investors to raise capital.KShoe previously traded as Kwanza Shoes after the company acquired Pakistani firm, Servis, which exited the market in 2012 […]
Airtel sparks price war with new tariff
Airtel Kenya has launched a new bundled tariff to challenge conventional post paid tariff models. The move is aimed at growing the telcos market share in the country’s competitive telecommunications industry. The UnlimiNET bundle allows users to enjoy 20 free minutes voice calls to any network, 100 free SMSs to any network and 100MB data daily from as little as Sh50 each day. For Sh100 a week, one gets 300MBs, 60 minutes to any network and 500 SMSs to any network […]
Airline sues Kenya Civil Aviation Authority over Sh1.4 billion award
Aviation industry regulator Kenya Civil Aviation Authority (KCAA) is embroiled in a legal tussle with an airline operator over Sh1.4 billion award by the court for cancelling the airline’s operations certificate in 2003. This is after African Commuter Services Ltd moved to court under a certificate of urgency, accusing KCAA of transferring its money to another account held by the Ministry of Transport and Infrastructure to allegedly not honour court orders. […]