Closing Bell: Britam Top Gainer While Flame Tree Group Top Loser
British-American Investments was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 4.55% to end the day at KES 23.00. This was a KES 1.00 gain in share price. Diversified financial services firm Britam and Equity Group Holdings Ltd (EGHL) have ended their near-two…
Equity runs ahead of rivals with takeover of DRC bank
Equity runs ahead of rivals with takeover of DRC bank Equity Group has announced plans to acquire a 79 per cent stake in a Democratic Republic of Congo bank, ProCredit Bank, for $60 million (Sh5.8 billion), marking the Kenyan lender’s entry into central Africa. The acquisition is partly being financed…
Closing Bell: Pan Africa Insurance Rises To Top Gainer
Pan Africa Insurance Company Ltd was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 9.40% to end the day at KES 81.50. This was a KES 7.00 gain in share price. Higher returns in the insurance sector and growing middle class are attracting…
CIC expands reach with new branch in Kitengela
CIC expands reach with new branch in Kitengela CIC Insurance has opened a branch in Kitengela, Kajiado County, as it seeks to deepen its national reach. The insurer said the branch would increase its presence as it plans to open more units in Naivasha and Kilifi in the next few…
Barclays win over KRA saves banks hefty tax demand
Barclays win over KRA saves banks hefty tax demand Barclays Kenya has won a protracted legal battle with the Kenya Revenue Authority, which was demanding tax payments on fees remitted to Visa, Mastercard and American Express for electronic money transfer services […] NSE…
South Sudan instability hits CfC Stanbic profit
South Sudan instability hits CfC Stanbic profit CFC Stanbic Bank has reported a 28 per cent drop in profit after tax for the three months to March this year attributable to a decline in income from its South Sudan branch. CFC is in the process of converting the South Sudan…
Closing Bell: Flame Tree Group Holdings Top Gainer
Flame Tree Group Holdings Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 9.66% to end the day at KES 7.95. This was a KES 0.70 gain in share price. Flame Tree Group’s improvement in share price comes shortly after they delved…
Tobacco firms seek Senate help to suspend strict rules
Tobacco firms seek Senate help to suspend strict rules British American Tobacco (BAT) and Mastermind Tobacco have picked 10 clauses they want declared unconstitutional before the rules come into effect in two weeks. Appearing on Thursday before the Senate Committee on Delegated Legislation, the two firms…
Closing Bell: Olympia Capital Remains Top Gainer
Olympia Capital Holdings Limited remains the top gainer for the second day in a row. The counter registered a further gain of 8.00% to end the day at KES 5.40. This was a KES 0.40 gain in share price. Unga group Limited closed the day as the worst performing share…
Centum to inject Sh1.2bn bond proceeds into K-Rep
Centum to inject Sh1.2bn bond proceeds into K-Rep Centum is set to inject Sh1.2 billion additional capital into K-Rep Bank from the proceeds of its Sh6 billion bond whose sale kicked off on Monday. The listed investment firm disclosed in its information memorandum for the fixed-rate and equity-linked notes that…
Closing Bell: Olympia Top Gainer While Pan Africa Insurance Top Loser
Olympia Capital Holdings Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 8.70% to end the day at KES 5.00. This was a KES 0.40 gain in share price. Pan Africa Insurance Company Ltd closed the day as the worst performing share…
NSE 20 share index up on blue chip gains
NSE 20 share index up on blue chip gains The NSE 20 share index inched upwards on Tuesday on modest blue chip gains, halting a slide that has seen the market drop below 5000 points to a six-month low. This was mainly on the back of gains by Bamburi, Standard…
Closing Bell: Kapchorua Tea Top Gainer At The Exchange
Kapchorua Tea Company Limited was the best performing share as the market came to a close today. Kapchorua ended the day at KES 126.00 having gained 8.62% (KES 10.00) in its share price. Atlas Development and Support Services took the lead as the worst performer in the exchange. The counter…
KCB 2015 ANNUAL GENERAL MEETING HIGHLIGHTS
The year 2014 was a good year for KCB Bank as it posted an 18% rise in its pre-tax profit. This was an improvement from KES 20.12 Billion in 2013 to KES 23.79 Billion in 2014. Following the good performance in the year 2014, the board recommended a dividend payout…
International Finance Corporation (IFC) eyes 11pc in Kenya Re partly owned reinsurer
IFC eyes 11pc in Kenya Re partly owned reinsurer The International Finance Corporation (IFC) will acquire an 11 per cent stake in Zep-Re, in a Sh1.9 billion deal. Kenya Re, which is opposing this share purchase, has its shareholding in Zep Re shrunk to 16 per cent from 20.7 per…
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