The Painful Side of Taking a Loan on Items
A sign on a shop in Nairobi (Photo: Mocality) When you walk on the ever busy and crowded Tom Mboya street in Nairobi, you will see hundreds of pink signs with “INSTANT CASH ON ITEMS”. The rate at which entities sprung clearly shows there is business in it. The…
Inflation to Rise During Election Period
Expect inflation to rise during the election period as politicians pour money into the economy. Campaign insiders predict that political parties targeting not only the presidential seat but also senate and parliamentarian positions for their candidates will spend up to about $100 million to $150 million…
Scangroup Profits Up 42%
ScanGroup Limited, Africa’s leading marketing services company has released its financial results for the year ended 31st December 2011. The company’s profit before tax increased by 52.68% from KES 838,396,000 in 2010 to KES 1,280,100,000 in 2011. The company’s operating expenses increased by 49.36% from KES 1,685,377,000 to…
Interbank Rate Rises
The interbank rate went up by 1.2% from 13.8% to 15% on Monday and rose even further to 16.3962% as at the close of business on Tuesday. The interbank rate is the cost at which commercial banks borrow from each other. This increase seems to be in response to the…
Forex Trail
Forex Trail is a daily tracker of exchange rates, observing daily performance and offering some insights and predictions.
Treasury to Issue Two Year Bond
The Treasury has announced that it seeks Ksh 5 billion through a two year bond to be issued this month. The last two year bond issued was in November 2011 and the weighted average yield rose to 22.844% from 16.526% the previous month. The weighted average yield may rise even…
Safaricom's Unlimited Internet Bundles to Be Scrapped
Safaricom plans to scrap off its unlimited Internet bundles, according to the company’s CEO, Bob Collymore. He further added that there has been a misuse of the service by subscribers who have been making huge downloads, resulting in huge losses for the company. Perhaps this explains…
Stocks Watch
As at the close business yesterday, the NSE All share index had moved up by 0.25 points (0.33%) to close at 74.93 points while the NSE 20-Share index had risen by 0.5% to close at 3461.19 points. Safaricom was the most active share in yesterday’s trading moving 9.2 million shares…
Get The Most from Safaricom’s Post Pay Plan
Thanks guys for the positive response on our previous post on: Join Safaricom’s Postpay Plan and Save. I thought it would be ideal to give you some more information that would make it easier to use this Postpay plan plus enable you to get…
President Urges EALA to Remove Trade Barriers
President Mwai Kibaki on Tuesday urged member states of the East African Community to hasten removal of trade barriers. The president was addressing the fourth sitting of The East African Legislative Assembly (EALA). President Kibaki spoke against the existence of trade barriers in the regional economic bloc even after the…
Integration, What Does it Mean?
Over the last few years there’s been quite a bit of discussion on integration and how the East Africa Community can be united into one economic block. This integration would include the unification of economic policies between the five East African States through the partial or full abolition of tariff…
DStv Launches New Channels
Multichoice annual price reviews saw an increase in monthly subscriber fees. (Read the price reviews here) These price reviews come with something good-an increase in the number of channels in the different bouquet packages. The new channels include: Trace Sports: Accessible on channel 129…
How Much It Would Cost You to Gain Occupancy of State House
Thinking of vying for Presidency or just curious about how much it would cost to vie for the position? Well, this post is for you. A survey by Coalition for Accountable Political Financing (CAPT), a Nairobi-based think-tank, shows that the 2007 general election was the most expensive in…
Closing Bell 17/04/2012
A summary of today's trading at the NSE. All the numbers you need to know.
Finance Bill in Trouble
Members of parliament have threatened to shoot down the supplementary budget presented by the Ministry of Finance today. The Legislators claim that treasury in tabling supplementary estimates should be informed based on what should have accrued from taxes if parliament had passed Finance Bill 2011-2012. They now want the supplementary…
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