KenGen approves rights issue to raise billions for energy projects
KenGen approves rights issue to raise billions for energy projects The Kenya Electricity Generation Company (KenGen) board has approved a rights issue to raise billions of shillings for its energy projects. KenGen said it would seek investors’ approval to issue up to 7.8 billion shares, reversing…
Closing Bell: Umeme Limited Top Gainer as Eaagads Limited Declines
Umeme Limited Top Gainer as Eaagads Limited Declines Umeme Limited (UMME) was the top gainer of the day. It gained 9.94% to close at KES 18.80, which was a KES 1.70 gain in share price. Eaagads Limited (EGAD) was the top loser of the day. It had a loss of…
Centum Investments 2015 Half-year Results
Centum’s half year profit grew by 55.04% to KES 1.9 billion, up from KES 1.23 billion reported in September 2014. This was boosted by a 342% increase in investment and other income to KES 8.38 billion from KES 1.90 billion reported in September 2014. The group’s…
Stanlib extends debut Reit sale by week after investors seek clarity
Stanlib extends debut Reit sale by week after investors seek clarity The sale of Stanlib Investments debut Real Estate Investment Trust (Reit) has been extended by one week after the issuer asked for more time in response to investor queries. The investment firm said fund, pension…
Closing Bell: Atlas Development and Support Services Ltd Top Gainer as Standard Group Limited Declines
Atlas Development and Support Services Ltd Top Gainer as Standard Group Limited Declines Atlas Development and Support Services Ltd (ADSS) was the top gainer of the day. It gained 8.77% to close at KES 3.10, which was a KES 0.25 gain in share price.
Safaricom out to link 2,000 more homes with fibre optic cable
Safaricom out to link 2,000 more homes with fibre optic cable Safaricom is seeking to connect 2,000 more homes to its fibre optic network by the end of the year in a bid to reduce reliance on voice business as a profit driver. Jamii Telecom’s Jamii…
Closing Bell: Carbacid Investments Limited Top Gainer as Uchumi Supermarket Limited Declines
Carbacid Investments Limited Top Gainer as Uchumi Supermarket Limited Declines Carbacid Investments Limited (CARB) was the top gainer of the day. It gained 9.70% to close at KES 16.40, which was a KES 1.45 gain in share price. Uchumi Supermarket Limited (UCHM) was the top loser of the day. It had…
Fidelity Shield downgraded to negative outlook
Fidelity Shield downgraded to negative outlook Fidelity Shield Insurance’s future outlook has been downgraded from stable to negative over weak liquidity and recently “subdued” cash flow. GCR assigned the negative grade to Fidelity Shield Insurance but retained BBB+ rate on its ability to settle claims. The…
Q3 Housing Price Index Report
In the recent released housing index report by Kenya Bankers Association, the third quarter of 2015 showed a marginal 1.26 percent increase in price, which was a relative faster increase compared to the 0.2 percent increase during the second quarter. This could be attributed to demand on some house units…
Closing Bell: Kakuzi Limited Top Gainer as Sameer Africa Limited Declines
Kakuzi Limited Top Gainer as Sameer Africa Limited Declines Kakuzi Limited (KUKZ) was the top gainer of the day. It gained 10% to close at KES 330.00, which was a KES 30.00 gain in share price. Sameer Africa Limited (FIRE) was the top loser of the day. It had a…
KenolKobil eyes higher revenue with Sh1.5bn Nairobi office block
KenolKobil eyes higher revenue with Sh1.5bn Nairobi office block KenolKobil is set to build a Sh1.5 billion office block in Nairobi’s central business district to serve as its new headquarters besides generating rental income. The 22-storey building will be located on a one-acre parcel of land…
Safaricom eyes SMEs in cash transfer deal for Lipa na M-Pesa with 8 banks
Safaricom eyes SMEs in cash transfer deal for Lipa na M-Pesa with 8 banks Safaricom has signed a deal with eight more banks to offer retailers real-time money transfer from the Lipa na M-Pesa tills to their banks accounts, a move aimed at recruiting more merchants…
ARM halts Kitui plant plans to sort out debts, shape up Tanzania unit
ARM halts Kitui plant plans to sort out debts, shape up Tanzania unit Athi River Mining (ARM) has postponed plans to build a new plant in Kitui until it sorts out its debts and shapes up its Tanzanian operations. The firm stated that it would build…
Insurance Industry Steady in Second Quarter of 2015
Insurance Regulatory Authority (IRA) , whose mandate is to regulate, supervise and develop the insurance industry , showed positive outcome in the released report for the second quarter of 2015. Some of the activities that IRA take to develop insurance industry in Kenya include Executive Certificate…
Co-op Bank to borrow Sh10.7bn from IFC
Co-op Bank to borrow Sh10.7bn from IFC The Co-operative Bank of Kenya is set to receive Sh10.7 billion ($105 million) in long-term financing from the International Finance Corporation for onward lending to small and medium enterprises. IFC, the World Bank’s private lending arm, has disclosed its…
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