Nairobi bourse plans platform for trading in carbon credits

Nairobi Securities Exchange (NSE) plans to set up a carbon-tracing board for Kenyan companies with carbon credits to sell to foreign countries and manufacturers. Power generators, petrochemical firms, steel producers, car makers, electro-mechanical firms and airlines from developed countries are the likeliest buyers of credits since they face strict emission caps at home. Kenyan firms such as KenGen, Mumias Sugar, East Africa Portland Cement and Kenya Power already participate in carbon trade arrangements [...]

Listed underwriting companies headed for mixed fortunes

Insurance stocks are likely to offer investors at the NSE mixed fortunes this year as some counters remain overpriced going by financial performance ratios. The sector as a whole is likely to see a reduction in earnings across board as a result of exposure to the equities market which underperformed in 2015. Although most have issued profit warnings, the industry has been recording a real premium growth above 14 per cent since 2014 compared to [...]

Treasury invested Sh262m in Stanlib I-Reit

The Treasury invested an estimated Sh262 million of taxpayers’ cash in the real estate investment trust (I-Reit) listed on the NSE by Stanlib in December, regulatory filings have shown. Treasury bought 6.5 million units of the Stanlib I-Reit, with a similar number of shares also purchased by the Investor Compensation Fund Board — a State agency that is managed by the CMA [...]

Inflation among Nairobi’s rich households hits 17-month high

The January inflation rate rose to a 17-month high among the rich Nairobi households as families grappled with rising school fees and entertainment costs. Inflation for the upper income group rose from 4.83 per cent in December to 5.44 per cent last month — the highest rate since August 2014. The rich spend more on education and leisure activities, followed by middle class homes while the poor spend the least [...]

Kenya plans project expenditure cuts in next mini budget

The Treasury for the first time plans to table a supplementary budget withdrawing cash from ministries following a slow rollout of projects and revision of spending targets. At the end of December ministries had not spent Sh139.2 billion earmarked for development projects. The government now plans to slash Sh70 billion from the development budget in a move that is likely to hurt economic growth [...]

Centum invests in weddings online start-up

Centum Foundation has invested an undisclosed amount in Blissful.co.ke; a website that connects businesses in the weddings and events industry to prospective clients. It becomes the first startup in which Centum Foundation will invest in this year. The announcement comes a week after Centum said it had committed to invest about $5 million [...]

Nakumatt to open five more outlets in neighbour countries

Nakumatt Supermarkets will in the next four months open five new stores in neigbouring countries in an expansion drive that will see the retailer spend an estimated $4 million [...]

Micro-financier Premier Credit in asset loans plan

Micro-lender Premier Credit has entered into an asset financing deal with local manufacturers targeting individuals and small and medium-scale entrepreneurs to grow its clientele [...]