NSE ranked second-best exchange in Africa despite foreign investor outflow
NSE ranked second-best exchange in Africa despite foreign investor outflow The Nairobi Securities Exchange (NSE) is the second-best performer this year amongst Africa’s large bourses despite recent foreign investor outflows. NSE has slowed down as dollar returns fall with the weakening of the shilling but its performance amongst six second-tier…
Closing Bell: Crown Paint Kenya leads as Top Gainer
Crown Paints Kenya Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 17.65% to end the day at KES 120.00. This was a KES 8.00 gain in share price. Crown Paints announced net profits for the year ended December 2014 declined…
Bond failure and project delays hit Home Afrika’s profit
Bond failure and project delays hit Home Afrika’s profit Property developer Home Afrika has announced a 90 per cent drop in profit last year, attributing it to project delays after the firm’s Sh900 million bond issue failed. The bond flop saw the company turn to bankers taking a loan of…
Safaricom backs down on unpopular change to tariff
Safaricom backs down on unpopular change to tariff Safaricom has changed its mind about taking away all the unused airtime, SMS credits and data held by Karibu Postpay tariff users after May 26 this year. Subscribers can keep their accumulated bundles but any new ones purchased from May 1 will…
KCB mobile phone-based service hits over one million accounts
KCB mobile phone-based service hits over one million accounts KCB Group’s mobile phone-based lending services has hit more than one million accounts a month after it was launched, underlining the high potential of mobile banking. The platform dubbed KCB-M-PESA signed its one millionth customer this week and its deposits grossed…
TransCentury stock value drops by 67pc since listing in 2011
TransCentury stock value drops by 67pc since listing in 2011 TransCentury Limited shareholders have seen the value of their holdings in the company plummet by two-thirds over the past four years, a sign that the share may have been too optimistically priced during its listing by introduction. TransCentury was valued at…
CBK spends Sh51bn in four months to prop weak shilling
CBK spends Sh51bn in four months to prop weak shilling The Central Bank of Kenya (CBK) foreign exchange reserves have contracted by Sh51 billion ($545 million) in the past four months as dollars were used to shore up the shilling and for debt servicing. The shilling exchange rate has already…
Closing Bell: Britam top mover on Mauritius Ponzi Speculation
British-American Investments Company Limited – BRITAM – (BRIT) was the biggest mover today mostly on account of the situation in Mauritius. The government of Maurtius took over British American Investments Mauritius (BAI Mauritius) over alleged involvement in Ponzi scheme like operations. BAI Mauritius has a 23% ownership stake…
Britam now restates profit after exit of two directors
Britam now restates profit after exit of two directors Financial services firm Britam has revised its books for 2014 a month after they were published, reducing its after tax profit by Sh342 million to about Sh2.5 billion. The Sh342 million profit reduction was revealed two days after the resignation of…
Closing Bell: Kakuzi Rises To Top Gainer as Sameer Africa Limited Declines
Kakuzi Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 9.65% to end the day at KES. 284.00. This is a KES 25.00 gain per share. Sameer Africa Limited took the lead as the worst performing share in the exchange. The counter…
Safaricom to launch TV decoders next month
Safaricom to launch TV decoders next month Safaricom is set to launch its own Internet-enabled digital television decoders next month, stepping up the battle for TV and data customers. Buyers of the high speed 4G-enabled Safaricom decoders will also have access to video-on-demand and downloads […] Tax experts fault KRA…
Kenya’s Transcentury swings into 2.11 bln shillings loss in 2014
Kenya’s Transcentury swings into 2.11 bln shillings loss in 2014 Transcentury reported on Friday a pretax loss of 2.11 billion shillings ($22.42 million) for 2014, after posting a 859 million shillings profit the previous year. It blamed the loss on a 36 percent drop in revenue from its engineering…
Closing Bell: Unga Rises To Take Lead As Top Gainer While Kakuzi Declines
Unga Group Limited continues to perform well in the market as it rises to the top of the gainers list. It ended the day at KES 50.00 having gained 9.89% (KES 4.50) in its share price. Kakuzi Limited took the lead as being the worst performer in the exchange. The…
Jambojet leases another plane amid row with pilots
Jambojet leases another plane amid row with pilots Kenya Airways’ budget carrier Jambojet has leased a second plane to serve the Eldoret and Kisumu routes amid a row with its pilots who are afraid of losing their jobs. The low-cost carrier said on Thursday it had leased a second plane…
Closing Bell: Britam takes the lead as Top Gainer While Umeme Declines
British- American Investments makes a remarkable turnaround in its performance today. It has greatly improved from the worst performing share to the best performing share as the market came to a close today. Britam ended the day at KES 22.25 having gained 9.88% (KES 2.00) in its share price. Umeme…
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