Equity gains 5pc buoyed by demand from local investors
Equity gains 5pc buoyed by demand from local investors Equity Bank stock has this week rallied to gain nearly five per cent at Sh48, as it recovers from a slide to an eight-month low seen last week. Analysts said the counter has been attracting demand this week, more so from local…
Closing Bell: Total Kenya Top Gainer While Britam Continues to Drop
Total Kenya Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 10% to end the day at KES 24.75. This is a KES 2.25 gain per share. Britam continues its drop in share price for the fourth day in a row and…
Lower oil prices to offer no relief on lending rates
Lower oil prices to offer no relief on lending rates Investment managers say low oil prices are unlikely to spur lower lending rates this quarter as the Central Bank of Kenya (CBK) is expected to maintain a cautious monetary policy. A survey of 10 fund managers, economists and treasury dealers…
Closing Bell: Umeme Top Gainer While Britam Continues To Decline
Umeme was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered again of 8.88% to end the day at KES. 19.00. Britam shares continue to decline as it is still suffering the repercussions of being associated with Bramer Bank Corporation and BAI Company (Mtius) Ltd. Following the…
Equity to refund Dyer & Blair over Sh20m paid out to fraudster
Equity to refund Dyer& Blair over Sh20m paid out to fraudster Equity Bank has lost a protracted court battle with Dyer and Blair Investment Bank after the court directed it to refund over Sh20 million that was fraudulently transferred from one of its client’s account […] Banks struggle to meet…
NSE firms owners’ 2014 earnings up by Sh13.4 billion
NSE firms owners’ 2014 earnings up by Sh13.4 billion NSE firms have paid Sh13.4 billion more in dividend to shareholders for the 2014 financial year with banks and telecoms operator Safaricom owners topping the list of beneficiaries. Dividend payout for the period between January 2014 and March this year stood at…
Safaricom leads stocks higher
Safaricom leads stocks higher Kenyan shares rose on Friday led by telecoms firm Safaricom. The Nairobi Securities Exchange’s main NSE-20 Share Index added 14.26 points to close at 5,093.00 points, driven higher by Safaricom, which added 2.7 percent to Sh17.20. Analysts said Safaricom’s shares were buoyed by a favorable outlook…
Kenya Power outshines energy stocks at NSE
Kenya Power outshines energy stocks at NSE The Kenya Power stock is up 18.7 per cent to Sh17.15 year-to-date—carrying on a trend established in 2014—even as power generating firm KenGen has shed three per cent to Sh10. The stock has been among the leading beneficiaries of foreign investor inflows since…
NSE sets stage for counties to raise health funds from Reits
NSE sets stage for counties to raise health funds from Reits The Nairobi Securities Exchange (NSE) has announced it will launch Real Estate Investment Trust (Reit) for the health and water sectors in the counties. The NSE said it is ready to launch share units for both income and development…
CBK steps in to halt shilling slump
CBK steps in to halt shilling slump The Central Bank of Kenya on Tuesday moved to calm the market as the shilling continued its slide to a new three- year low of 93.40 units to the US dollar. The shilling is being weakened by a combination of a stronger dollar…
Mumias Sugar Company lays off 100 staff at closed water bottling plant
Mumias Sugar Company lays off 100 staff at closed water bottling plant Sugar miller Mumias was on Monday preparing to lay off 100 employees of its water bottling plant, which is being wound up as part of the grand plan to rescue the company from collapse. Mumias Sugar Company on Monday…
KCB overtakes Equity Bank in valuation at NSE
KCB overtakes Equity Bank in valuation at NSE KCB has grabbed back its position as the most valuable listed lender at the NSE ahead of Equity Bank for the first time in seven months with its share price rallying to an all-time high and Equity slipping. KCB’s closing price of Sh63 a…
The lady who went from the reception to the corner office
The lady who went from the reception to the corner office Meet Patricia Kiwanuka, executive director of Old Mutual Investments Group who was a former Pension Advisor for East African Community Secretariat and used to be head of Business Development at PineBridge Investments East Africa and AIG Global Investment Group.
Home Afrika says 2014 profit to fall by a quarter
Home Afrika says 2014 profit to fall by a quarter Kenyan property developer Home Afrika Ltd said on Friday its 2014 profit would be at least 25 per cent lower than the previous year, hurt by a delay in developing its infrastructure projects during…
Treasury raises Sh24bn from 12-year reopened bond
Treasury raises Sh24bn from 12-year reopened bond The 12-year Sh25 billion infrastructure bond tap sale (reopening) has raised Sh24 billion, meaning the Treasury has achieved its target of netting Sh50 billion from the issue. All the subscriptions to the bond were accepted and allotted at the same fixed yield rate…
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