Kenya Shilling Holds Steady, Expected to Weaken
According to Reuters, the Kenyan shilling has held steady against the dollar on Monday. The shilling may however weaken as the end of the month approaches as imports could put downward pressure on the shilling. The main imports expected are oil and oil products. What does this mean to…
Closing Bell 23/04/2012
Gainers Price Change Crown Berger Limited 27.50 8.91% KenGen Limited 8.45 5.63% Scangroup Limited 51.50 5.10% East Africa Cables Limited 11.30 3.67% AccessKenya Group Limited 4.45 3.49% Losers Price Change Pan Africa Insurace Holdings Limited 28.00 5.88% Kapchorua Tea Company Limited 115.00 4.96% Eveready East Africa Limited 1.65 2.94%…
Kenya-Re Profits up 24%
KenyaRe's profits are up 24%
StanChart: Charting Their Progress
Standard Chartered Bank is one of the world’s major banks, having been listed on the London, Hong Kong and Mumbai stock exchanges as well as our very own Nairobi Securities Exchange. The bank opened its Kenyan branches in 1911 as the first foreign-owned bank and a hundred years…
Number of Shares Traded Increases by 35.43%
According to the weekly bulletin released by the Central Bank of Kenya (CBK) the number of shares traded at the Nairobi Stock Exchange (NSE) from 16th April to 20th April 2012 stood at 159.92 million shares. This is 41.84 million shares more than the 118.08 million traded in…
KRA Now Collecting Taxes 'Legally'
The Kenya Revenue Authority will now be collecting taxes ‘legally’ after the Finance Bill 2011/2011 was passed. The taxman had been collecting taxes illegally since January of 2012 to date. KRA was collecting taxes in the months preceding January based on the Provisional Collection of Taxes and Duties Act.The provision allows…
No Capping Interest Rates, House Decides
Loan borrowers will have to put up with the high interest rates main stream banks charge them on loans after parliament shot down proposed amendments to the finance bill 2011/2012. The Jakoyo Midiwo sponsored amendments to have bank interest capped and have a base on the interest given…
The Taxman Hands are Tied
Interventions by the government to lower cost of living are negatively impacting revenue collection by the taxman. Kenya Revenue Authority (KRA) has admitted that the policy and administrative measures taken in the current year have negatively impacted its operations. Such interventions include reduction of duties and taxes…
Sameer Dividends Dip by 60%
The Board of Directors of Sameer Africa Limited has recommended a first and final dividend of 20 cents per share subject to shareholder approval at the Annual General Meeting. The company’s profit before tax increased by KES 86.2 million (138.66%) from KES 62.19 million in 2010 to KES 148.45 million…
New NHIF Tariff Takes Effect in June
The National Hospital Insurance Fund (NHIF) will effect its new tariffs beginning of June. The announcement by NHIF comes after a bid by The Central Organization of Trade Unions to block the proposal from taking effect was defeated. The new rates which were projected to start May, will now take…
When the Big Money Knocks Unexpectedly
When you have not planned to get money and it comes your way, does it become very difficult to plan for it thereafter? Winners of Jackpots, mega athletes, musicians, actors artists and other sportsmen and women fall in this category of people who sometimes sleep poor and wake up amongst…
Stocks Watch
Stocks Watch: What to expect from the day's trading at the NSE
Purpose of the NSE
The Nairobi Securities Exchange (NSE) is Kenya’s national stock exchange. A stock exchange is a form of a market which provides services for investors to trade in stocks, bonds, unit trusts and other securities. A stock is a type of security that signifies ownership in a corporation and represents a claim on part…
What’s Pushing the Mumias Stock?
Over the last week, the Mumias Sugar Company share has steadily risen from KES 4.70 at the end of last week to KES 5.50 as at the end of business on Thursday. This is a 17% rise and is quite uncharacteristic of stocks listed under the Manufacturing and Allied segment…
Your Rent Might Increase Soon
Expect an increase in your house rent as the tax-man targets landlords in the quest to expand Kenya’s revenue base. Kenya Revenue Authority (KRA) is preparing to register all properties in the country’s major towns with the expectation that it would help catch landlords who are not paying…
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