Closing Bell: Umeme Top Gainer While Flame Tree Group Remains Top Loser
Umeme was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 10% to end the day at KES 18.50. This is a KES 1.50 gain per share. Flame Tree Group Holdings Limited took the lead in being the worst performing share in the exchange…
James Ndegwa to stay at NIC Bank amid conflict of interest fears
James Ndegwa to stay at NIC Bank amid conflict of interest fears Newly appointed Capital Markets Authority (CMA) chairman James Ndegwa Thursday said he will not resign as chairman of listed NIC Bank to avert conflict of interest as demanded by critics. NIC Bank owns stock market intermediaries, including…
Closing Bell: Unga Group Rises To Top Gainer
Unga Group Limited was the top gainer at the Nairobi Securities Exchange (NSE). This was a good turnaround from being the 4th worst performing share yesterday. The counter registered a gain of 9.66% to end the day at KES 48.25. This was a KES 4.25 gain in share price.
KRA to miss capital gains tax target by Sh6.8 billion
KRA to miss capital gains tax target by Sh6.8 billion The government is set to miss nearly all of the Sh7 billion it expected from charging capital gains tax (CGT) on stocks and property this financial year, official statistics show. The taxman is expected to collect a paltry Sh200 million…
Closing Bell: Crown Paints Kenya Rises While Equity Bank Declines
Crown Paints Kenya Limited continues to perform well in the market. It improved today to close the day as the top gainer. Crown Paints ended the day at KES 126.00 having gained 9.57% (11.00) in its share price. Equity Bank Limited continues to decline in its performance. It ended the…
KCB Group 2015 Quarter 1 Results
KCB Group 2015 Quarter 1 Results KCB Bank Group saw its Q1 pre-tax profit rise by 12% to KShs. 6.2 Billion on the back of higher interest income, fees and commissions arising from new business lines. The Group’s CEO, Mr Joshua Oigara said that the growth in profitability from…
Exchange rate slide pushes shilling past 95 units mark
Exchange rate slide pushes shilling past 95 units mark The shilling on Tuesday crossed the 95 units to the US dollar level, continuing a losing streak with forex traders predicting a further drop to 98 units to the dollar by end of year. A weaker currency and its effect…
Closing Bell: Liberty Kenya Holdings Top Gainer as Transcentury Declines
Liberty Kenya Holdings Limited continued to perform well and closed the day as the top gainer in the market. It ended the day at KES 23.00 having gained 9.52% (KES2.00) in its share price. Transcentury Limited took the lead as being the worst performer in the exchange. The counter registered…
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…
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