PesaPortfolio – 23 July 2012
Below is the value of the PesaPortfolio at the close of trading on Friday 20th July 2012: The PesaPortfolio at the end of trading on Friday 20th July 2012 At the close of trading on Friday, our PesaPortfolio had gained KES 122.50 to stand…
KRA's Revenue Collection Grows but Misses Target
The Kenya Revenue Authority(KRA) collected KES 707.3 billion revenue for the financial year ended June. This is against a revised target of KES719 billion for the same year. The original target for the year was KES 733.4 billion. This is however a 13% growth in collection…
8 Things You Should Know This Morning
A couple of things you are waking up to this morning: 1. Kenya’s tourism offerings might be shifting from the traditional high cost hotel or lodge, white beach and game drive experience to the warmth of a domesticated, cozy and personalised environment. In the next three months, the Government will…
Stocks Watch
In today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters: KenolKobil – Shares in the petroleum marketer gained for a third day on Friday, closing up 30 percent at KES 15.95 from KES 15.65 on Thursday. Puma Energy, a…
When Something Goes Wrong, Blame it on the CEO
Kenya’s record inflation and dismally weak shilling performance of late last year has been successfully dealt with by the Central Bank of Kenya’s intervention, the very same institution whose governor came under the spotlight to resign when things in the economy were not so good. Whether he…
A Bank Account in Your Pocket
What if you could manage all your finances by clicking a few buttons on your phone? Kenyan banks may be closer to realising this than you think. Several financial institutions have adopted the trend in a bid to cash in on the fast-growing mobile market.The CBK…
Insanely Expensive Stuff: World’s Most Expensive iPhone
“Yeah, you’ll be the coolest person in the room when you pull one out and show it around, but that gets old fast when three other people have them and one person somehow has one that glows in the dark” – John C. Dvorak An iPhone…
Weekend Reading
Enjoy this weekend’s collection of articles: 1. Can You Guess the World’s Fastest Growing Economy? (No, It’s Not China) Mongolia is part of a new class of countries that, like the Middle Eastern states that got rich selling oil to the West, have hitched their economies to resource-hungry…
Disease Outbreak may Affect Maize Prices
Kenyans may have to dig deeper into their pockets following an outbreak of Maize Lethal Necrosis (MLN) disease which has swept some parts of the country. Farmers in Rift Valley province have already lost 21,000 hectares of crop to the infection. “From my own personal experience, reduced production…
Closing Bell – 20 July 2012
At today’s NSE trading, the NSE 20-Share Index closed up 0.38 percent at 3,840.36 points up from 3,825.93 points yesterday while the NSE All-Share Index closed up 0.34 percent gaining 0.28 points to close at 83.54 points from 83.26 points yesterday. Source: FILE HIGHEST VOLUMES For a…
Shelter-Afrique gives 40m Loan for Low Cost housing project
Pan African housing finance and habitat institution Shelter-Afrique, has extended a KES 40million (US$ 500,000) low cost housing development loan to a local housing microfinance institution, Makao Mashinani in a pilot project geared at raising the market supply of affordable…
CMA Finalising on Real Estate Investment Scheme Framework
The Capital Markets Authority (CMA) is in the final stages of developing Real Estate Investment Trusts (REIT). REIT is a framework that will facilitate the financing and management of collective investment in real estate run by CMA. The Capital Markets Collective Investment Scheme Regulations…
Cost of Electricity may Drop Soon
Reuters Africa this morning reported that Kenya Power plans to reduce power tariffs by 10 per cent by the end of the year if energy costs continue dropping. International crude oil prices have been on a decline for the past three months, with the latest…
NIC Rights Issue Gets the Green Light
NIC Bank has received approval from the Capital Markets Authority to carry out a rights issue agreed on by the bank during its fifty second Annual General Meeting (AGM) held in May this year. Read more on the AGM here. Remarking on…
City Council to Bust Land Tax Defaulters
Land owners may be in for a rude awakening as the City Council of Nairobi moves to crack down on those who fail to pay their taxes. The Council issued its final warning yesterday before handing over its books to the Nairobi County Government. The move, dubbed ‘Operation…
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