I&M Holdings in deal to acquire Giro Bank
I&M Holdings in deal to acquire Giro Bank I&M Holdings Ltd (IMHL) has reached an agreement to buy out tier III lender Giro Commercial Bank in a deal that will see I&M grow its asset base by Sh16.2 billion. IMHL, which is listed at the…
Closing Bell: I&M Holdings Ltd Top Gainer as Eveready East Africa Limited Declines
I&M Holdings Ltd Top Gainer as Eveready East Africa Limited Declines I&M Holdings Ltd (I&M) was the top gainer of the day. It gained 12.15% to close at KES 120.00 which was a KES 13.00 gain in share price. Eveready East Africa Limited (EVRD) was the top loser of the…
Rea Vipingo set to delist this month
Rea Vipingo set to delist this month Rea Vipingo is expected to delist at the Nairobi Securities Exchange (NSE) by the end of the month if the industry regulator approves the move. Chairman Richard Robinow says the sisal firm is now awaiting for the go ahead…
Equity picks a new fight with Safaricom over M-Pesa fees
Equity picks a new fight with Safaricom over M-Pesa fees Equity Bank Group has written a protest letter to the Central Bank of Kenya (CBK) objecting to Safaricom’s intended increase of charges on bank-to-MPesa transfers, which once effected will raise fees charged on Equitel — its…
Closing Bell: Uchumi Supermarket Limited Top Gainer as British American Tobacco Kenya Limited Declines
Uchumi Supermarket Limited Top Gainer as British American Tobacco Kenya Limited Declines Uchumi Supermarket Limited (UCHM) was the top gainer of the day. It gained 9.83% to close at KES 9.50 which was a KES 0.85 gain in share price. British American Tobacco Kenya Limited (BAT) was the top loser…
Kenya Airways defends air ticket pricing against rivals
Kenya Airways defends air ticket pricing against rivals Kenya Airways has defended its higher air ticket prices relative to other airlines. KQ chief executive Mbuvi Ngunze on Thursday said the airline’s tickets are only priced higher during peak demand, when travellers book late and according to quality…
Closing Bell: Uchumi Supermarket Limited Top Gainer as Kakuzi Limited Declines
Uchumi Supermarket Limited Top Gainer as Kakuzi Limited Declines Uchumi Supermarket Limited (UCHM) was the top gainer of the day. It gained 9.88% to close at KES 9.45 which was a KES 0.85 gain in share price. Kakuzi Limited (KUKZ) was the top loser of the day. It had a…
Loss-making Home Afrika sends CEO packing
Loss-making Home Afrika sends CEO packing Loss-making real estate developer Home Afrika has sacked its CEO, Njoroge Ng’ang’a ,nearly two years after he took over the post from his predecessor, Gerald Chege ,in November 2013. The company did not disclose reasons for sending Mr Ng’ang’a packing……
Closing Bell: Umeme Limited Top Gainer as Jubilee Holdings Limited Declines
Umeme Limited Top Gainer as Jubilee Holdings Limited Declines Umeme Limited (UMME) was the top gainer of the day. It gained 10% to close at KES 19.25 which was a KES 1.75 gain in share price. Jubilee Holdings Limited (JUB) was the top loser of the day. It had a…
BAT and anti-tobacco lobby oppose new cigarette tax
BAT and anti-tobacco lobby oppose new cigarette tax Kenya’s largest cigarette manufacturer and an anti-tobacco lobby have closed ranks to oppose new excise tax rates they say will only reduce government revenues. The parties, who are normally on opposing sides, say Parliament’s amendment of the Excise…
Closing Bell: Sameer Africa Limited Top Gainer as Kapchorua Tea Company Ltd Declines
Sameer Africa Limited Top Gainer as Kapchorua Tea Company Ltd 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. Kapchorua Tea Company Ltd (KAPC) was the top loser of the…
Mumias resumes sugar production after a two-month break
Mumias resumes sugar production after a two-month break Sugar miller Mumias has resumed operations after a two-month break in a move that is expected to raise the depleted national stock of sugar. The miller says it is producing up to 500 tonnes of the sweetener in…
Closing Bell: Equity Group Holdings Limited Top Gainer as East African Cables Limited Declines
Equity Group Holdings Limited Top Gainer as East African Cables Limited Declines Equity Group Holdings Limited (EQTY) was the top gainer of the day. It gained 7.79% to close at KES 41.50 which was a KES 3.00 gain in share price. East African Cables Limited (CABL) was the top loser…
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…
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