Friday Brief – 20th Feb
Safaricom at all-time high as NSE soars The indicative NSE 20-Share index gained 27.7 points in Thursday’s trading to close at 5473.8 as telecommunication giant Safaricom touched an all-time high and beer maker East African Breweries Limited (EABL) traded at the highest price in the last one year.
Thursday Brief – 19th Feb
Telecom firms to pay hefty penalties for poor service Telecom firms are set to start paying between 0.1 to 0.2pc of their annual revenue instead of Sh500,000 flat rate as penalties for providing substandard services to customers. CA director-general stated that the current fine was too lenient and has…
Wednesday Brief -18th Feb
Rift Valley Railways seeks Sh1.2 billion fuel levy refund Rift Valley Railways (RVR) has sued the government for wrongfully charging it the levy that is specific to road users despite its continued operation as a railway-specific company. The firm is seeking a refund of Sh1.3 billion for the Road Maintenance…
Tuesday Brief – 17th Feb
Firm to complete Sh1.6m homes for low-end buyers in March Karibu Homes which is targeting the low income market segment is offering 281 units in the first phase of a 1,082-unit project in Athi River off Mombasa Road for sale. One-bedroom units go for Sh1.6 million each, two-bedroom house will…
Monday Brief – 16th Feb
Safaricom’s M-Pesa cards plan targets e-payment billions The M-Pesa debit cards and point of sale (POS) terminals will enable customers to pay for government services, which the State has committed to shift online in a bid to curb corruption and ease transactions at public offices. Safaricom has signed deals with…
Sunday Brief – 15th Feb
Why on earth buy a football club? The quip goes that it is relatively easy to take out £1m by being the owner of a football club. All you have to do is first put in £2m. Since the English Premier League was formed in 1992, football finances have…
Saturday Brief – 14th Feb
Oil explorer seeks Sh910m in damages from partner over Kenya project ‘breach’ Africa-focused oil explorer Taipan Resources is seeking at least $10 million (Sh910m) in damages from EAX, its partner in a Kenyan oil field and a subsidiary of London-listed oil firm Afren. Taipan’s Kenya-based subsidiary Lion Petroleum said it…
Friday Brief – 13th Feb
Kwal staff begin buying winery shares at Sh34 Kwal staff is buying a four per cent share in the wines and spirits maker at Sh34.46 a unit under the privatization program. The Privatisation Commission announced that the government is offloading the 3.84 million shares in Kwal in a deal that…
Thursday Brief – 12th Feb
Agency banking transactions hit Sh320bn mark The number of transactions conducted by bank agents rose by 38 per cent last year underscoring the growing confidence in the banking concept introduced four years ago. Banks have contracted businesses such as supermarkets, pharmacies, couriers, hardware shops and post offices as third party…
Wednesday Brief – 11th Feb
Central Bank data show domestic debt up by Sh30bn According to the latest data from the Central Bank of Kenya, domestic debt has increased by nearly Sh30 billion since the beginning of the year, bringing cumulative borrowing to Sh1.334 trillion. Analysts expect yields on the domestic bond issues to experience…
Tuesday Brief – 10th Feb
Co-op Bank spent Sh1.2bn to send home 160 employees last year Co-op Bank disclosed to analysts and investors that it now stands to save Sh500 million annually from this year onwards in staff costs after following the layoffs of 160 of its employees in December which cost Sh1.2 billion. The…
Monday Brief – 9th Feb
State secures Kenya Re 20pc share of local reinsurance For the first time in two decades, the government has increased the share of business insurance companies. The government has also ensured a steady flow of business for the next five years by extending the duration for the mandatory cessions and…
Sunday Brief – 8th Feb
Kisumu’s Imperial Hotel owner leaves a mark in lakeside town. Even though the small advert last week in the newspapers announcing the passing of one of Kenya’s millionaires did not say much, Sadrudin Manji Gilani had built a business empire which still leaves a mark. One of his flagship…
Saturday Brief – 7th Feb
CA to get Sh1.5m fine from three top media houses, lifts license ban The Communication Authority of Kenya (CA) Board Friday conditionally lifted the suspension of the digital broadcasting license of the three leading media houses, setting stage for the consortium- Africa Digital Network (ADN) to roll out own…
Friday Brief – 6th Feb
Billionaire squatter buys 25 per cent stake in Kakuzi Billionaire investor John Kibunga Kimani who owns more than 25 per cent in Kakuzi is using his major shareholding in the company to fight for fair treatment of the squatters in the company’s Murang’a farms. He has applied to the Capital…
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