Closing Bell 24/4/12
Gainers Price (KES) Change (%) Kenya Reinsurance Corporation 9.30 16.25 CFC Stanbic Holdings 43.50 6.10 KenGen Limited 8.95 5.92 Trans-Century Limited 24.75 5.32 Olympia Capital Holdings Limited 3.65 4.29 Losers Price (KES) Change (%) Mumias Sugar Company 5.70 9.52 Standard Group Limited 22.50 4.26 Rea Vipingo Plantations Limited 15.25 1.61…
BAT Dividends Out This Week
BAT shareholders are about to get paaaaaaaiiid. A dividend of 27 bob per share is to be paid out on Thursday.
Kenya, a Drinking Nation
Official statistics, company research, store checks and trade interviews suggest that Kenyans last year consumed 601 million litres of alcohol, 30 million litres more than what was consumed in 2010. It is predicted that Kenyans will consume 625 million litres of alcohol this year. Statistics from…
Interbank Rate at its Highest in Two Weeks
The interbank rate, the cost at which commercial banks lend money to one another, rose to 19.4223% yesterday. This is the highest the rate has reached since April 5th when it was at 18.87%. Last week activity by the Central Bank of Kenya’s (CBK) mopped up excess liquidity in the…
KRA to Tax Mobile Money Transfers
The Kenya Revenue Authority could soon be taxing all transactions you make on your mobile money account, the tax man has announced. Speaking while releasing the KRA’s third quarter revenue performance Commissioner General John Njiraini said they were considering taxing the transactions to increase their…
Remittances: An Infographic
An infographic on the remittances over the last 5 years
The Man who Quit Money
Do you think quitting money would solve all our problems? Is it possible to quit money and survive in a system that worships it, where everything is flesh and money is the skeleton? A man, named Daniel Suelo back in 2000 decided to break up with the capitalist system, leaving…
Stocks Watch
The NSE 20-share closed last week at 3,571.20 points, 16.74 points up from Friday’s. The NSE all-share index closed at 77.20 points, up 0.48 points. These gains follow the trend set last week where both indices consistently gained over the entire course of the week. The shares to watch today…
How a Pyramid Scheme Works
Yesterday one of the dailies ran the headline “Investors lose KES 100 million in fresh pyramid-like scandal.” In brief the story is about hundreds of investors who have lost more than KES 100 million in a scheme ran by fraudulent agents working from within a Nairobi-based insurer’s offices. The…
Kenyans Shift To Non-Malt Alcoholic Drinks Denies the Tax-man His Cut
Volumes of tax-free non-malt containerized brands grow by 60% over the past nine months, hurting KRA'S performance in domestic excise duty
Forex Trail
Below is a table showing how the Kenya shilling fared against other major foreign currencies yesterday compared to last Friday: CURRENCY DATE US Dollar Sterling Pound Euro SA Rand KESUSHS KESTSHS KESRWF Friday 20th April 2012 83.1969 133.6227 109.3992 10.5841 30.1695 19.0513…
The Risk of Joining a Pyramid Scheme
Pyramid schemes have been around for at least a century and while a few people have benefited from them, majority have lost significant amounts of money to them. The concept behind pyramid schemes is simple and easy to identify. However, they are often presented…
Do Tax Cuts Pay Off?
Several policies, mostly concerning interventions to address the cost of living through reduction of duties and taxes have negatively affected revenue collection. When Kenyans complained of high petroleum prices, the government responded through removing excise taxes on kerosene and reduction of excise duty on diesel. When…
What Capping of Interest Rates Could Have Done
The Finance Bill 2011/2012 was passed in parliament on Thursday after long debates and a troubled life on the shelves of the house. The bill was passed without the amendments proposed to it of having interest rates on loans capped and deposits interest made at a base rate…
Pyramid Scheme Smokes up Investors Cash
Policy holders at CIC Insurance have lost their investment to the tunes of Shs 100m to a suspected fraudulent scheme connected to agents at the firm. The affected were introduced to ‘Mavuno’, a unit-linked investment plan that was allegedly supposed to yield returns of between 7% and 10% a month.
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