CBK suspends licensing of commercial banks
CBK suspends licensing of commercial banks Central Bank of Kenya (CBK) has in a shock move slapped a moratorium on licensing new commercial banks throwing off balance the entry of Dubai Islamic Bank and the planned conversion of Unaitas Sacco. The moratorium is likely to force…
Closing Bell: Home Afrika Ltd Top Gainer as Atlas Development and Support Services Ltd Declines
Home Afrika Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Home Afrika Ltd (HAFR) was the top gainer of the day. It gained 3.85% to close at KES 1.35 which was a KES 0.05 gain in share price. Atlas Development and Support Services Ltd (ADSS) was the…
KRA, Unilever Tea in Sh1.8bn tax battle
KRA, Unilever Tea in Sh1.8bn tax battle The Kenya Revenue Authority (KRA) is locked in a multibillion-shilling tax battle with Unilever Tea Kenya where it is seeking unpaid taxes dating back to the start the millennium. Unilever has however countered the KRA’s claims that the tea…
Closing Bell: Liberty Kenya Holdings Limited Top Gainer as TransCentury Limited Declines
Liberty Kenya Holdings Limited Top Gainer as TransCentury Limited Declines Liberty Kenya Holdings Limited (CFCI) was the top gainer of the day. It gained 7.45% to close at KES 18.75 which was a KES 1.30 gain in share price. TransCentury Limited (TCL) was the top loser of the day. It…
Williamson Tea Kenya 2015 Half-year Results
Williamson Tea profit grew by 126% to KES 380.67 million, up from KES 168.29 million in September 2014. Weak Kenyan shilling and implementation of cost control measures boosted the growth in profit. The company’s turnover rose by 21.81% to KES 1.53 billion compared to KES 1.26 billion reported in September…
Kapchorua Tea 2015 Half-year Results
Kapchorua Tea’s half-year profit increased by 110.45% to KES 100.41 million compared to KES 47.71 million which was reported in September 2014. Weak Kenyan shilling and implementation of cost control measures boosted the growth in profit. The company’s turnover slightly dipped by 0.02% to KES 525.74 million compared to KES…
Equity gains Sh30bn in a month as small banks lose deposits
Equity gains Sh30bn in a month as small banks lose deposits Equity Bank management says it has grown its deposit base by Sh30 billion in the last month riding on shift of deposits from small banks. Small banks have suffered loss of deposits since last month…
Closing Bell: Eaagads Limited Top Gainer as Kenya Airways Limited Declines
Eaagads Limited Top Gainer as Kenya Airways Limited Declines Eaagads Limited (EGAD) was the top gainer of the day. It gained 10% to close at KES 27.50 which was a KES 2.50 gain in share price. Kenya Airways Limited (KQ) was the top loser of the day. It had a…
Tuskys set to open 75 shops at Shell stations
Tuskys set to open 75 shops at Shell stations Tuskys Supermarket has moved to open convenience stores at 75 Shell-branded fuel stations, operated by Vivo Energy Kenya, as part of its expansion strategy. The supermarket has already opened two such shops along Thika Road in a…
Chase Bank Q3 profit up 28 pc on increased lending
Chase Bank Q3 profit up 28 pc on increased lending Chase Bank’s net profit for the first nine months of the year grew by a third on the back of increased lending and higher earnings from fees and commissions. The mid-tier lender has announced an after-tax…
Closing Bell: Express Kenya Limited Top Gainer as Kenya Power & Lighting Co. Ltd Declines
Express Kenya Limited Top Gainer as Kenya Power & Lighting Co. Ltd Declines Express Kenya Limited (XPRS) was the top gainer of the day. It gained 8.97% to close at KES 4.25 which was a KES 0.35 gain in share price. Kenya Power & Lighting Co.
Family Bank to sell PE funds Sh15bn stake
Family Bank to sell PE funds Sh15bn stake Family Bank plans to raise as much as Sh15 billion through sale of stake to private equity (PE) firms. Family Bank shareholders will now have to create more shares to accommodate potential investors. Family Bank intends to use…
Closing Bell: Atlas Development and Support Services Ltd Top Gainer as TransCentury Limited Declines
Atlas Development and Support Services Ltd Top Gainer as TransCentury Limited Declines Atlas Development and Support Services Ltd (ADSS) was the top gainer of the day. It gained 8.82% to close at KES 3.70, which was a KES 0.30 gain in share price. TransCentury Limited (TCL) was the top loser…
KenGen approves rights issue to raise billions for energy projects
KenGen approves rights issue to raise billions for energy projects The Kenya Electricity Generation Company (KenGen) board has approved a rights issue to raise billions of shillings for its energy projects. KenGen said it would seek investors’ approval to issue up to 7.8 billion shares, reversing…
Closing Bell: Umeme Limited Top Gainer as Eaagads Limited Declines
Umeme Limited Top Gainer as Eaagads Limited Declines Umeme Limited (UMME) was the top gainer of the day. It gained 9.94% to close at KES 18.80, which was a KES 1.70 gain in share price. Eaagads Limited (EGAD) was the top loser of the day. It had a loss of…
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