New System to Track Irregularities at the NSE
The market authorities have launched a surveillance system that will monitor transactions in real-time and help track irregularities in the Nairobi Stock Exchange. This new system will ensure equal information on stocks to all market players, and will send real time alerts and analysis to investors. Commenting on it, Stella…
CFC Insurance Holdings Profits Rise
CfC Insurance Holdings Limited (CfCIH) held its first Annual General Meeting (AGM) during which they announced a consolidated pretax profit of KSh 950 Million for the year ended 31 December 2011 up from KSh 260 Million in 2010. CfCIH, which was listed at the…
CFC Holdings Shareholders Approve Name Change
CFC Insurance Holdings will be changing its name to Liberty Holdings Kenya Limited. This came as the shareholders approved the change of name at the company’s Annual General Meeting (AGM) CFC Insurance Holdings, which listed at the Nairobi Securities Exchange (NSE) is the…
NSSF Real Estate Disposal to Adhere to RBA Rules
The National Social Security Fund (NSSF) has reiterated that ongoing plans to reduce its real estate portfolio will be undertaken in strict adherence to the Retirements Benefits Authority (RBA) regulations. According to NSSF acting Managing Trustee Tom Odongo, the ongoing process to reduce…
Budget Analysis: Understanding Taxation Proposals
Below is an analysis of the various taxation proposals in the 2012/2013 budget. The interpretation of each proposal we have listed has been sourced from the Institute of Economic Affairs 2012 Budget Guide. In regard to excise duties, there’s a proposal to revoke the status of…
Fake Phones and Unregistered SIM Cards on Notice
The governments intention to wipe out counterfeit mobile phones from the market is well on course, Information Permanent Secretary Dr. Bitange Ndemo has said. Speaking at the launch of Safaricom‘s Huawei 100Y phone, the PS said that the shut down of the counterfeit mobile phones could start…
Closing Bell – June 26 2012
INDICES In today’s trading, the NSE 20 share index gained 12 points to stand at 3,738 points from 3,726 points yesterday. The All-Share index today stood at 81.3 points from 80.90 points yesterday. Meanwhile, the FTSE NSE Kenya 25 index closed today’s trading at 110.13 points up from 109.79 points…
K-Rep Bank To Open More Branches
K-Rep Bank has disclosed that plans are underway to open at least 20 new branches countrywide by 2015. The SME lender which re-branded on Monday 25th says it plans to roll out more branches countrywide to ensure that it takes its services closer to its target clients…
Budget Allocations Towards Social Equity
The budget for the fiscal year 2012/2013 has made special allocation of funds to certain groups in the society. The allocations are outlined below: In regards to gender allocation, KES 300 million has been allocated towards the provision of sanitary towels for girls from poor families…
Kenya's Luxury Housing Boom
How do you feel about renting an unfurnished two bedroom apartment for KES 180,000 per month? How about KES 480,000 per month for a three bedroom penthouse? These prices are on a brochure I came across for Serene Valley apartments in Upper Hill, one of Nairobi’s high-end residential areas.
Bamburi, E.A. Portland Shares Drop
Both Bamburi and E.A. Portland Cement company shares fell yesterday signaling possible shifts in investor confidence towards the cement making industry. Bamburi fell by 3.7% to close at KES 158 down from KES 164 on Friday while E.A. Portland fell 4.7% to close at KES 60 down from…
Kenya Airways Fleet Expansion Program on Course
National carrier Kenya Airways has signed an agreement with Africa Export-Import Bank (Afreximbank) for a KES 159.6 billion ($1.9 billion) loan for its fleet expansion program. The airline raised KES 14.488 billion which it intended to use for buying new aircraft to replace its ageing B767 and B737…
Airtel’s New Airtime Offer
Airtel Kenya is offering discounted airtime at all Nakumatt branches. For airtime worth KES 1000 you will pay KES 750 For airtime worth KES 500 you will pay KES 400 For airtime worth KES 250 you will pay KES 213 The offer ends on 22nd July…
Budget Analysis: Health Sector Allocation
The 2012/2013 budget has allocated KES 12.3 billion to the Health sector. The allocation is expected to go towards Employment of 5,200 health workers among them, 715 doctors Improving immunization coverage for children and reducing morbidity and mortality from malaria HIV/AIDs, tuberculosis and non-communicable diseases (NCDS)…
My Money in My 20’s: Your Financial Future is Determined in Your 20’s
See that fella over there? He’s 20 years old. In 10 years, he’s got a chance to be a star. Now that fella over there, he’s 20 years old too, in 10 years he’s got a chance to be 30 – Cesey Stengel
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