Beyond Zero campaign raises more than six figures in charity run
Beyond Zero campaign raises more than six figures in charity run The First Lady Margaret Kenyatta’s Beyond Zero campaign raised Sh46mn this Sunday attracting 15,000 participants. The initiative geared at improving maternal health has already managed to buy and deliver 21 fully equipped mobile clinics to 21 counties. The…
Lower costs drive Barclays Kenya to 10pc net profit growth
Lower costs drive Barclays Kenya to 10pc net profit growth Barclays Bank of Kenya recorded a 10 per cent net profit growth in the year ended December, helped by lower costs. The lender had made a net profit of Sh8.3 billion in the period compared to Sh7.6 billion the year…
Treasury to raise domestic debt by 75pc next year
Treasury to raise domestic debt by 75pc next year Kenya’s domestic borrowing is projected to rise by 75 per cent to Sh208 billion in the next financial year compared to the current year, energizing the fixed-income market but also raising the spectre of even higher interest rates. The National Treasury…
TransCentury, BAT top listed firms with diversified boards
TransCentury, BAT top listed firms with diversified boards The analysis of the listed companies’ boards commissioned by New Faces New Voices (Kenya) was done by research firm Think Business, as a way of improving corporate governance in Kenya’s listed firms. TransCentury Limited and BAT are the leading companies in board diversification among…
Sale of five State sugar companies delayed over farmers’ petition
Sale of five State sugar companies delayed over farmers’ petition The government plans to sell Nzoia, South Nyanza, Chemilil, Miwani and Muhoroni companies to strategic investors who will control 51 per cent of the sugar millers. Two members of Parliament, however, delayed passing of the motion, citing that the…
KCB issues caution over proposed restructuring
KCB issues caution over proposed restructuring Kenya Commercial Bank Ltd (KCB) directors have urged shareholders and customers to exercise caution when dealing with the bank’s shares. This follows a resolution last week by the bank’s top management to undertake a restructuring which will lead to the establishment of a non-operating…
Banks left with idle capital after fund raising campaigns
Banks left with idle capital after fund raising campaigns Data from the Central Bank of Kenya shows lenders have core capital (shareholders’ funds) equivalent to 16.7 per cent of their loan book against the statutory minimum of 10.5 per cent. The headroom against regulatory requirement gives the lenders muscle to…
Consider driving these high performance cars
Consider driving these high performance cars Technological innovations in the automotive industry have moved quite fast recently. It looked like a fantasy when talk about the electric and battery powered vehicles started. Some modern cars such as the Renault Zoe which is powered with these fuels are so silent that…
Inflation rises to 5.61pc
Food prices offset gains from low energy bills edging up inflation to 5.61pc Inflation bucked a five month decline in February, inching up marginally on rising prices of key food items which offset benefits from lower energy bills. Data from the Central Bank of Kenya (CBK) shows that the cost…
CfC Stanbic triples dividend payout after 10.9pc net profit increase
CfC Stanbic triples dividend payout after 10.9pc net profit increase CfC Stanbic Holdings has nearly tripled its dividend payout following a 10.9 per cent increase in net profit for the full-year ended 2014 driven by sharp growth in interest income. The holding company, which owns CfC Stanbic Bank and its…
Energy shares gain as falling oil price lifts consumption
Energy shares gain as falling oil price lifts consumption Shares of oil marketers KenolKobil and Total are up 15.5 per cent and 12.5 per cent respectively so far this year at Sh10.05 and Sh27. On the electricity side, Kenya Power and KenGen are up 17.6 per cent and 4.4…
Wednesday Brief – 25th Feb
Mastermind wins Kenya Power deal to build substations Advertising firm Magnate Ventures and Mastermind Tobacco, through its subsidiary NGM Ltd, have signed lucrative tenders for construction of 36 Kenya Power substations in bids, which were dominated by Asian and Gulf-based companies. According to Kenya Power, the new substations will improve…
Tuesday Brief – 24th Feb
Kenya’s Uchumi sinks into red but confident of east Africa expansion Kenya’s Uchumi Supermarkets Ltd posted a mid-year pretax loss after investing in new branches but said it was confident its expansion strategy in east Africa would soon pay off. A rise in staff costs and higher rental prices, including…
Monday Brief – 23rd Feb
NSE inches toward seven-year high on Safaricom’s gains The Nairobi bourse shrugged off negative effects of the capital gains tax controversy to hit a seven year high on Friday with demand aided by a highly liquid money market. The NSE 20 share index closed at 5,465 points, the highest since…
Saturday Brief – 21st Feb
Shilling stuck in a tight range against dollar The Kenyan shilling was stable against the dollar on Friday and traders said it was likely to trade in a tight range over the next few days. At 0755 GMT, commercial banks posted the shilling at 91.40/50 per dollar, unchanged from the…
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