CIC to List Over 2 Billion Shares on the NSE
Shareholders will be able to trade their stake at the NSE as soon CIC lists at the bourse. The company, which is Africa’s leading co-operative insurer, is set to list on the NSE on 18th July 2012. The insurer will open its shares to the public without the need to…
Government Offers Consolidated Bank to Private Investors
Consolidated Bank may be privately owned by the end of next year. Ministry of Finance Permanent Secretary, Joseph Kinyua told the media that the Privatisation Commission is currently working on listing the bank on the NSE by the year 2013. According to Ventures Africa, the government currently…
Mobile Money Transfer Users Grow
More Kenyans are taking to Mobile Money transfer as a preferred method of sending and receiving money in the country. According to Communication Commission of Kenya statistics for 3rd quarter of financial year 2011/12, the number of subscribers taking to this mode transacting has increased by close to 6,000 subscribers…
Forex Trail – 11 July 2012
Kenya Shilling exchange rate against major currencies today For a second consecutive day, the Kenya Shilling today exchanged above Ksh 84 to the US dollar, settling at Ksh 83.96 compared to Ksh 83.94 yesterday, CBK data shows. Against the Euro, the shilling was today 20 cents stronger, exchanging at Ksh…
ICT Project Set to Improve Government's Online Service Delivery
Execution and delivery of government online services is set to exhibit more efficiency after the government awarded Chinese telecommunication firm Huawei a tender to construct a Kshs 6 billion fiber optic infrastructure in the country. The tender, which covers other e-government projects as well, is expected to begin…
1.0 Billion Text Messages Sent Between January and March 2012
Kenyans send a billion texts between January and March, a 13.4% increment from last quarter.
Rent On The Increase Despite Stable Property Prices
Property development and management firm, Hass Consult has today released the results of the Hass Property Index for quarter 2 of 2012. The Hass Property Index is a measure of how housing prices and rents are moving. The report has revealed that there is an ongoing…
South Korean Investment Could Improve Kenya’s Infrastructure
Kenya’s Marine Authority is set to sign a Memorandum of Understanding (MOU) with South Korea’s Coast Guard later this week. The MOU is intended to improve security within the country’s coastline. Addressing local media earlier this week President Mwai Kibaki noted that he was ‘pleased to…
When Was The Last Time You Sent a Letter?
Statistics released in Communications Commission of Kenya (CCK) 3RD Quarter Sector Statistics revealed that during the period between January 2012 to March 2012, the total number of local letters sent declined by 14.3 per cent to record 16.8 million letters. In comparison with the January 2011 to March…
Yu Mobile Posts Highest Subscription Growth
As posted in Communications Commisssion of Kenya CCK 3rd Quarter Report, Esser Telecom Kenya Limited (Yu Mobile) posted the highest growth of 14.5 per cent, representing growth of 324,284 new subscriptions. A growth CCK attributes to increased promotional and special offers targeting the youth. As of 31st March…
Summary of CCK 3RD Quarter 2011/2012 Sector Statistics Report
Latest statistics released by the communications regulator (CCK) revealed that the number of mobile subscribers in the country has increased to 29.2 million between January and March 2012, up from 28.08 million in December last year. This has resulted in 89.10 per cent of the population having access…
Stocks Watch
At today’s NSE trading, we will be closely observing the following share counters: B.O.C Kenya – The supplier of industrial and medical gases yesterday closed at a high not seen since early last year, gaining 7.44 percent to close at Ksh 130.00 from Ksh 121.00 on Monday. The…
Civicon To Rehabilitate Roads To Wind Power Plant
Civil and engineering company Civicon has been awarded a USD 36 million (Ksh 3.2 billion) contract to rehabilitate 204 kilometers access roads for the Lake Turkana Wind Power Project (LTWP) and the construction of an additional 109 kilometers on site road network to…
The Future Looks Sweet for Mumias Sugar
Half year profits for Kenya’s leading sugar producer are on an 8 month high. According to the company’s annual report, profit after tax for the half year ended 31 December 2011 amounted to Ksh866.6 million. The company’s stock gained 2.24% to close at Ksh6.85 today. Their total comprehensive…
Kenyans Abroad Bring in More Money, CBK.
Kenyans in diaspora sent home $101 million (Ksh 8.5 billion) in May, which represents a 47% jump from the same month a year ago, and up from the previous month, according to Central Bank of Kenya data released on Tuesday. Apart from tea, horticulture and tourism, remittances…
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