Equitel loans hit Sh4bn, says Equity Bank
Equitel loans hit Sh4bn, says Equity Bank Loans borrowed from Equitel mobile money have hit Sh4 billion since its launch, underlining the vast potential of mobile banking in the country. Equity Bank CEO James Mwangi said an average Sh5,000 is borrowed daily, with most borrowers using…
Closing Bell: Pan Africa Insurance Company Ltd Top Gainer as Sasini Ltd Declines
Pan Africa Insurance Company Ltd Top Gainer as Sasini Ltd Declines Pan Africa Insurance Company Ltd (PAFR) was the top gainer of the day. It gained 10% to close at KES 66.00 which was a KES 6.00 gain in share price. Sasini Ltd (SASN) was the top loser of the…
Uchumi shuts down Syokimau Railway branch
Uchumi shuts down Syokimau Railway branch Retail Chain Uchumi Supermarkets has shut down one of its outlets along Mombasa Road citing poor location. The move is part of the retailer’s reorganisation expected to cut costs and drive it back to profitability. The branch was shut down…
Closing Bell: Kakuzi Limited Top Gainer as Pan Africa Insurance Company Ltd Declines
Kakuzi Limited Top Gainer as Pan Africa Insurance Company Ltd Declines Kakuzi Limited (KUKZ) was the top gainer of the day. It gained 9.76% to close at KES 326.00 which was a KES 29.00 gain in share price. Pan Africa Insurance Company Ltd (PAFR) was the top loser of the…
CBK steps into Safaricom, Equity duel
CBK steps into Safaricom, Equity duel The Central Bank of Kenya has waded into the tag of war between banks and mobile money transfer platforms with a proposal to harmonize transaction charges. Through the 2011 National Payment System Act, the regulator is setting up a payment…
Closing Bell: Uchumi Supermarket Limited Top Gainer as Atlas Development and Support Services Ltd Declines
Uchumi Supermarket Limited Top Gainer as Atlas Development and Support Services Ltd Declines Uchumi Supermarket Limited (UCHM) was the top gainer of the day. It gained 9.5% to close at KES 9.80 which was a KES 0.85 gain in share price. Atlas Development and Support Services Ltd (ADSS) was the…
Uchumi clears Sh500 million debt to suppliers
Uchumi clears Sh500 million debt to suppliers Retail chain Uchumi Supermarkets says it has so far cleared Sh500 million debts owed to its suppliers as part of its turnaround plan that involves restocking its shelves. The retailer has in recent months suffered low supply of commodities…
Closing Bell: Car & General (Kenya) Ltd Top Gainer as Express Kenya Limited Declines
Car & General (Kenya) Ltd Top Gainer as Express Kenya Limited Declines Car & General (Kenya) Ltd (C&G) was the top gainer of the day. It gained 7.69% to close at KES 42.00 which was a KES 3.00 gain in share price. Express Kenya Limited (XPRS) was the top loser…
Athi River Mining says new clinker plant to boost profit margins
Athi River Mining says new clinker plant to boost profit margins Athi River Mining (ARM) Cement expects profitability to improve now that it produces its own clinker for its East African cement plants, the firm’s managing director has said. ARM Cement, East Africa’s second biggest producer…
Safaricom unveils fund for innovations
Safaricom unveils fund for innovations Safaricom Foundation, the corporate social investment arm of Safaricom Limited, has launched a Sh50 million fund targeting investors in the social innovation field who may need technical and entrepreneurship support to develop and deploy mobile technology. The fund will empower young…
Closing Bell: Flame Tree Group Holdings Limited Top Gainer as Crown Paints Kenya Limited Declines
Flame Tree Group Holdings Limited Top Gainer as Crown Paints Kenya Limited Declines Flame Tree Group Holdings Limited (FTGH) was the top gainer of the day. It gained 9.79% to close at KES 7.85 which was a KES 0.70 gain in share price. Crown Paints Kenya Limited (BERG) was the…
Local investors keep KQ stock afloat
Local investors keep KQ stock afloat Local investors’ buying of the Kenya Airways (KQ) share has kept its price stable over the past month even after the airline reported a record Sh25.7 billion loss for the year ended March 2015. The loss wiped out its shareholder…
Closing Bell: Express Kenya Limited Top Gainer as Umeme Limited Declines
Express Kenya Limited Top Gainer as Umeme Limited Declines Express Kenya Limited (XPRS) was the top gainer of the day. It gained 9.88% to close at KES 4.45 which was a KES 0.40 gain in share price. Umeme Limited (UMME) was the top loser of the day. It had a…
Uchumi sub-tenants get order halting eviction
Uchumi sub-tenants get order halting eviction Sub-tenants in Uchumi Supermarkets have secured a court order delaying their eviction by 14 days from the September 15 deadline given by the retailer. Eighteen speciality shop owners claimed they had not been given adequate notice when they pleaded with…
Closing Bell: Mumias Sugar Company Ltd Top Gainer as Atlas Development and Support Services Ltd Declines
Mumias Sugar Company Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Mumias Sugar Company Ltd (MSC) was the top gainer of the day. It gained 8.57% to close at KES 1.90 which was a KES 0.15 gain in share price. Atlas Development and Support Services Ltd (ADSS)…
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