Closing Bell: Kapchorua Tea Company Ltd Top Gainer as Home Afrika Ltd Declines
Kapchorua Tea Company Ltd Top Gainer as Home Afrika Ltd Declines Kapchorua Tea Company Ltd (KAPC) was the top gainer of the day. It gained 10% to close at KES 220.00 which was a KES 20.00 gain in share price. Home Afrika Ltd (HAFR) was the top loser of the…
KPMG set to replace Ernst & Young as Uchumi auditors
KPMG set to replace Ernst & Young as Uchumi auditors KPMG is set to take over from Ernst & Young the auditing of troubled retailer Uchumi Supermarkets, which has accused its former top management of manipulating its last year’s financial statements. The consultancy, classified as one…
Closing Bell: Kakuzi Limited Top Gainer as Home Afrika Ltd Declines
Kakuzi Limited Top Gainer as Home Afrika Ltd Declines Kakuzi Limited (KUKZ) was the top gainer of the day. It gained 9.78% to close at KES 348.00 which was a KES 31.00 gain in share price. Home Afrika Ltd (HAFR) was the top loser of the day. It had a…
Safaricom M-Pesa transfers across borders hit Sh17bn
Safaricom M-Pesa transfers across borders hit Sh17bn The value of cross-border M-Pesa transactions has hit Sh17 billion four years since the service was introduced, indicating a high growth potential for mobile money transfers in facilitating international remittances and business transactions. Safaricom says the uptake of M-Pesa…
KQ eyes rebound with McKinsey turn-around plan
KQ eyes rebound with McKinsey turn-around plan Kenya Airways (KQ) will be hoping to calm headwinds that pummelled its business as it seeks to rebound from record losses and turn around a negative equity position that saw the Senate call for the sacking of its top…
Treasury behind borrowing targets on high finance costs
Treasury behind borrowing targets on high finance costs As the current financial year started it emerged the government was experiencing unprecedented difficulties in raising cash, partly because the Sh2.2 trillion Budget was an increase of 25 per cent while domestic borrowing and tax revenues were short…
M-Pesa now enters Uganda in Safaricom, MTN pact
M-Pesa now enters Uganda in Safaricom, MTN pact M-Pesa users will now send and receive money from one of Kenya’s biggest trade partners Uganda after Safaricom partnered with MTN, a mobile phone service provider in the neighbouring country. Uganda is one of Kenya’s top trading partners…
Britam profit alert pushes the tally for the year to a record high of 14
Britam profit alert pushes the tally for the year to a record high of 14 Britam Holdings has announced its 2015 profit will fall below last year’s, becoming company number 14 to issue a profit warning. Britam attributed this to a depressed economy that had slowed…
ARM set for Sh12.7bn cash boost from foreign investor
ARM set for Sh12.7bn cash boost from foreign investor ARM Cement is seeking to raise $125 million (Sh12.7 billion) from a strategic investor who is expected to take a controlling stake in the company once it converts the preference shares it is allotted in the Nairobi…
Uchumi targets Sh5bn from new strategic investor
Uchumi targets Sh5bn from new strategic investor Uchumi Supermarkets is looking for a strategic investor to take a controlling stake in the retailer in exchange for a Sh5 billion capital injection. Uchumi plans to create an additional one billion shares to accommodate the new investor, which…
Jamii Bora targets global lenders for Sh1.6bn expansion loan
Jamii Bora targets global lenders for Sh1.6bn expansion loan Jamii Bora Bank is hoping to get an unsecured Sh1.6 billion convertible loan in January. The loan will be provided by three international lenders whom the management declined to disclose as they are still conducting due diligence…
Closing Bell: Sasini Limited Top Gainer as British American Tobacco Kenya Limited Declines
Sasini Limited Top Gainer as British American Tobacco Kenya Limited Declines Sasini Ltd (SASN) was the top gainer of the day. It gained 9.64% to close at KES 22.75 which was a KES 2.00 gain in share price. British American Tobacco Kenya Limited (BAT) was the top loser of the day. It had…
Collymore says Safaricom will not risk CBK’s wrath over bitcoin transactions
Collymore says Safaricom will not risk CBK’s wrath over bitcoin transactions Safaricom CEO Bob Collymore has said the telecommunications giant will not agree to have bitcoin-related transactions on its M-Pesa system unless the virtual currency is authorised by the banking sector regulator. Safaricom CEO Bob Collymore…
Closing Bell: TransCentury Limited Top Gainer as Jubilee Holdings Limited Declines
TransCentury Limited Top Gainer as Jubilee Holdings Limited Declines TransCentury Limited (TCL) was the top gainer of the day. It gained 9.42% to close at KES 7.55, which was a KES 0.65 gain in share price. Jubilee Holdings Limited (JUB) was the top loser of the day. It had a loss of 8.20%…
500 to lose jobs in Telkom Kenya layoffs
500 to lose jobs in Telkom Kenya layoffs Five hundred employees of Telkom Kenya could lose their jobs in a restructuring plan announced by the company which is in acquisition talks with private equity fund Helios Investment Partners. Telkom Kenya has indicated that the layoffs are…
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