Investors demand higher interest for Treasury bills
Investors demand higher interest for Treasury bills Investors are demanding higher interest rates for the six-month and one-year government Treasury bills as the market continues with its risk-averse approach to longer-dated fixed-income investment over uncertainties in the interest rate environment. Auction results from last week’s…
Revenue grows but falling stock values hit Britam’s bottomline
Revenue grows but falling stock values hit Britam’s bottomline Kenyan insurer British American Investments (Britam) saw its profit after tax for the first half of the year fall dramatically to Sh625 million, down from Sh2.75 billion in the same period last year. Pretax profit fell to…
Closing Bell: Uchumi Supermarket Limited Top Gainer as Sameer Africa Limited Declines
Uchumi Supermarket Limited Top Gainer as Sameer Africa Limited Declines Uchumi Supermarket Limited (UCHM) was the top gainer of the day. It gained 9.38% to close at KES 8.75 which was a KES 0.75 gain in share price. Sameer Africa Limited (FIRE) was the top loser of the day. It…
Bamburi Cement posts Sh3bn in half-year profit
Bamburi Cement posts Sh3bn in half-year profit Bamburi Cement posted an 85.9 per cent net profit jump in the half year ended June, helped by sales growth and aggressive cost-cutting measures. The firm’s net profit in the period stood at Sh3 billion compared to Sh1.6…
Closing Bell: Sameer Africa Limited Top Gainer as Housing Finance Company Limited Declines
Sameer Africa Limited Top Gainer as Housing Finance Company Limited Declines Sameer Africa Limited (FIRE) was the top gainer of the day. It gained 8.64% to close at KES 4.40 which was a KES 0.35 gain in share price. Housing Finance Company Limited (HFCK) was the top loser of the…
Bidco acquires 78 acres of Tatu City land for expansion
Bidco acquires 78 acres of Tatu City land for expansion Consumer goods manufacturer Bidco has acquired a 78-acre piece of land at Tatu City — where it expects to set up some of its factories and a warehouse. The Thika-based company is owned by the…
Closing Bell: Longhorn Publishers Limited Top Gainer as Unga Group Limited Declines
Longhorn Publishers Limited Top Gainer as Unga Group Limited Declines Longhorn Publishers Limited (LKL) was the top gainer of the day. It gained 3.85% to close at KES 6.75 which was a KES 0.25 gain in share price. Unga Group Limited (UNGA) was the top loser of the day. It…
Bourse slips below 4,300 points in sixth successive session of losses
Bourse slips below 4,300 points in sixth successive session of losses The Nairobi Securities Exchange 20 share index fell for the sixth straight session Thursday to slip below the 4,300 points barrier for the first time this year as major counters lost ground. The index…
Closing Bell: Home Afrika Ltd Top Gainer as B.O.C Kenya Ltd Declines
Home Afrika Ltd Top Gainer as B.O.C Kenya Ltd Declines Home Afrika Ltd (HAFR) was the top gainer of the day. It gained 7.32% to close at KES 2.20 which was a KES 0.15 gain in share price. B.O.C Kenya Ltd (BOC) was the top loser of the day. It…
Airtel Kenya permit expired, operating under Essar licence
Airtel Kenya permit expired, operating under Essar licence Airtel Kenya is operating under the licence previously held by Essar, which it bought out last year, as its permit which expired in February is yet to be renewed. The telecommunications firm had until this February to pay…
Closing Bell: Kapchorua Tea Company Ltd Top Gainer as Atlas Development and Support Services Ltd Declines
Kapchorua Tea Company Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Kapchorua Tea Company Ltd (KAPC) was the top gainer of the day. It gained 9.63% to close at KES 239.00 which was a KES 21.00 gain in share price. Atlas Development and Support Services Ltd (ADSS)…
Safaricom puts on hold sale of digital decoders
Safaricom puts on hold sale of digital decoders Safaricom has suspended the sale of its Internet-enabled digital TV decoders to allow for software upgrade barely three months after its launch. Chief executive Bob Collymore told the Business Daily the suspension was due to realisation that…
KRA gives manufacturers two months to comply with excise tax rule
KRA gives manufacturers two months to comply with excise tax rules Kenya Revenue Authority (KRA) has given manufacturers and importers of excisable goods who have not acquired licenses two months to comply with the requirements. KRA says the manufacturers who have faced difficulties in getting county…
Closing Bell: British American Tobacco Kenya Limited Top Gainer as Sameer Africa Limited Declines
British American Tobacco Kenya Limited Top Gainer as Sameer Africa Limited Declines British American Tobacco Kenya Limited (BAT) was the top gainer of the day. It gained 6.41% to close at KES 830.00 which was a KES 50.00 gain in share price. Sameer Africa Limited (FIRE) was the top loser…
StanChart’s net profit drops 36pc on bad loans
StanChart’s net profit drops 36pc on bad loans Standard Chartered Bank’s rising load of non-performing loans has pulled down its net profit for the six months to June by 36 per cent and seen the lender overtaken by two of its peers. With all six top-tier…
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