My 15min Chat With a Bank CEO: Today’s Topic of Discussion
Join Isaac Awuondo, CEO, Commercial Bank of Africa and Samuel Kimani, CEO, Jamii Bora Bank, today, 26 July, as they discuss about investments and the role banks play in financial inclusion. Samuel Kimani’s chat session begins at 10AM focussing on the role banks play in Financial Inclusion…
Stocks Watch
NIC Bank – Shares in the bank yesterday climbed 0.68 percent to close at their second highest price in one year at KES 37.25 from KES 37.00 on Tuesday. Next month, NIC is scheduled to carry out Kenya’s second largest rights issue of this year set to raise 2.07 billion…
Agrochemical Sector Face a Possible KES 1Billion in Losses
The Agrochemical Association of Kenya (AAK) believes that the proposed 2012 Value Added Tax (VAT) bill may pose a major threat to the agriculture industry. In a fresh outcry for clemency, the Association noted that farmers, agrochemical manufactures, retailers and consumers may have to pay more for their…
8 Things You Should Know This Morning
Some of the stories you are waking up to: 1. Top M-Pesa agent helps clients move millions- Business Daily 2. Ministries returned over Sh101 billion to the Treasury for the financial year ending June 30, in unused development funds which the government blames MPs for the slow-down in…
Closing Bell – 25 July 2012
INDICES At today’s trading, the NSE 20-Share Index gained for a sixth consecutive day to reach a new one-year high of 3,878.49 points closing up 0.85 percent. The NSE All Share Index meanwhile closed up 0.97 percent to 84.66 points from 83.85 points yesterday.
Orange Unveils Free Call,SMS Promotion
Telecommunications company Orange has today unveiled a promotional tariff dubbed Sare through which its pre-paid customers on Orange mobile network will enjoy free 24 hour on-net calls and SMS services as well as 10 free off-net SMSs. According to the company’s CEO, Mickael Ghossein, the…
Teachers to Go On Strike
Kenya Union of Post-Primary Education Teachers (KUPPET) has issued the government with a two weeks ultimatum to ensure that it implements a 100 per cent salary increment lest they go on strike on 5th September 2012. Speaking to the media, KUPPET Secretary General –…
Forex Trail – 25 July 2012
Below is a summary of the Kenya Shilling’s performance against major currencies so far this week: The Kenya Shilling’s Performance so far this week This week the shilling has remained stable against foreign currencies, exchanging in the range of KES 84 against the US…
Cooking Gas Discounted Offer
National Oil Corporation of Kenya has today announced discounted prices on refill of 13kg and 6kg cooking gas. It will now cost you KES 2,420 and KES 1,175 to refill a 13kg and 6kg cooking gas. Included in the offer is discounted price on…
Lonrho Group Eyes Kenya's Hotel Business in Re-entry Bid
Seven years after selling off its hotels in Kenya, Lonrho Group, a major participant in luxury hotel sector is making a re-entry into the country. The group, which sold the Norfolk Hotel, Mount Kenya Safari Club and The Ark to a subsidiary…
Huawei Launches Two Smart Devices in Kenya
Information and communications technology solutions provider Huawei, has launched two high end smart devices into the Kenyan market. The company today launched the Huawei Honor Smartphone and the Huawei Media Pad tablet. The Huawei Honor smartphone, which will be retailing at KES 31,999, comes…
Maternal Health Sector Gets KES 7.3 billion Funding
Kenya’s Health sector will benefit from a KES 7.3 billion funding under a Danish support programme, Health Sector Programme Support (HSPS III). This will be the 3rd phase of the programme to the Kenyan health sector. HSPS…
Self Sustaining Homes the Solution for Kenya
Housing Finance is set to receive a USD 16 million loan from the IFC which will be used to fund the construction of environmentally friendly real estate projects. The proposed initiative will be used to finance buyers and builders who incorporate solar power and water conservation.
NIC to Introduce More Shares to the Market
The Capital Markets Authority has approved NIC Bank’s KES 2.07 billion Rights issue. The bank will issue 98,724,391 rights to purchase New Ordinary Shares at an Offer Price of KES 21 per share, a 43% discount from the latest price of NIC Bank on the NSE as of…
Kenyan Stock Market Index Rallies on Soaring Blue Chip Shares
The NSE 20 Share Index yesterday rallied to reach a new one-year high of 3,845.93 points which marks a 20 percent improvement of the measuring index this year spurred on by equally performing blue chip shares at the Kenyan Stock Market. More than half…
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