Uchumi Share Down Further on Profit Taking
Uchumi, the only Kenyan retailer listed on the NSE, closed yesterday nearly four shillings lower than the share’s price in late May on profit-taking and falling inflation which had earlier boosted investor demand in the share. “The counter has been hit a bit hard by profit-taking”…
Co-op Joins Other Banks in Reducing Interest Rate
Co-operative Bank of Kenya has joined other lenders on the market to reduce their base lending rate. Co-op Bank has announced it will reduce its base lending rates by 1.5%, the same margin Central Bank of Kenya reduced it base lending rate…
Closing Bell – 16 July 2012
At today’s NSE trading, the NSE 20-Share Index closed up 6.46 points (0.17 percent) to settle at 3,795.10 points from 3,788.64 points at the close of trading last week. Source: FILE HIGHEST VOLUMES For a fourth consecutive day at the NSE, Safaricom…
Access Kenya Connects 400 Buildings on Fibre
Internet and IT Solutions Provider AccessKenya Group has now connected 400 commercial buildings on its expanding metropolitan Fibre Network in Nairobi and Mombasa. This follows an expansion plan initiated at the onset of the year to meet rising demand for fibre connectivity among its corporate…
CIC Pours Ksh1 Billion into Real Estate
CIC Insurance plans to set up an office block in Nairobi with a contract sum worth over Ksh651 million. During last year’s Annual Group Meeting (AGM), the company made plans to increase their share capital to Ksh3 billion by creating 90 million ordinary shares. Over Ksh1 billion has…
Kenyan Banks Eye Regional Market
With over 200 banks of Kenyan origin already having a presence in the region Kenyan banks seem focussed on capturing the regional market. More than 5 local banks have opted for regional expansion including Equity, Kenya Commercial Bank (KCB), Bank of Africa (BOA), I&M, Fina Bank and NIC Bank.
In Defense of Luxury: Of Sandstorm, Louis Vuitton and Guilt
Luxury may mean excess, vulgarity and obscene waste; but it’s also a basic human instinct- Sally Feldman Luxury is a hard thing to understand, and only those who know the little pleasures it brings a man can tell you of its essentiality. However, for those standing on the outside, luxury…
Price of Maize Flour Falls by Ksh 4
Increased supply of maize from the south Rift region and Tanzania has led to a 3.7% drop in the cost of maize flour. A 2kg packet which was going at Ksh120 is now Ksh116. In the wholesale trade, a 90Kg bag of maize which would cost Ksh3,800 is…
Coffee Prices May Rise as Nairobi Coffee Exchange Remains Closed
A report from Business Daily July 16th 2012 states that coffee prices at the Nairobi Coffee Exchange have dropped from a high of Ksh719 a kilogramme($8.679) in January 2011 to a low of Ksh246 ($2.976) in June 2012. Trying to explain this, the Coffee Board of Kenya…
Save Ksh 3,000 on a Drifta
DStv mobile has lowered the price of a Walka TV from Ksh 10,500 to Ksh 7,500 and Drifta from Ksh 7,500 to Ksh 4,500. As posted in the Daily Nation Business column, DStv-Mobile manager Felix Kyengo said the cut in prices is part of the firms…
Trend in Fuel Prices
Kenyans yesterday woke up to reduced fuel prices, the lowest prices posted since March 2011. The price drop was foreseeable considering the trend in international oil prices. The Free On Board (FOB) price of Murban Crude oil was post at USD 97.35 per barrel in June, a 12…
Prime Bank Reduces Lending Rate
Prime Bank has has announced that it will be reducing its base lending rate by 1.5% to 22.5% from August this year. This follows Central Bank of Kenya‘s Monetary Policy Committee decision earlier this month to reduce the Central Bank’s…
Forget Economic Growth, We Have Oil.
During the budget speech Finance Minister Njeru Gitahe projected that the country would have a 5.2% growth during the year and gave several factors explaining how the government is working towards realising this dream. He was sure it would be a successful year for Kenyans and the economy…
Consolidated Bank to Open More Branches
Consolidated Bank of Kenya plans to open 10 more branches within a span of two years. The Bank, which has been in existence for 20 years; currently boasts of 17 branches in Nairobi, Mombasa, Thika, Nakuru, Eldoret, Embu, Meru and in other major towns in the country. In its information…
8 Things you should know this Morning
Here is a couple of things you are waking up to this morning: 1. Africa’s under-40 millionaires share their secrets to success Forbes this week published a list of ten African millionaires in their 20s and 30s. Prior to the publication of…
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