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…
Thursday Brief – 5th Feb
Kenya Airways up 41pc on positive investor outlook The share price of KQ has risen to Sh10.95 per share — a six month high — on account of positive investor sentiment due to falling fuel prices and hope of an end to the Ebola crisis that robbed the airline of…
Wednesday Brief – 4th Feb
Safaricom surrenders Sh500m to unclaimed assets agency Safaricom has released money amounting to Sh500m which was held in inactive phone lines for more than two years to the unclaimed assets agency. This also includes unreplaced phone lines that had been lost and those belonging to people who have left the…
Tuesday Brief – 3rd Feb
Banks defy new loan pricing tool to rake in Sh141bn The latest statistics show there has been high interest rates and growth in lending which has helped Kenyan banks to raise their profits by Sh18 billion. The super profits are attributed to a 22.8 per cent extension of the loan…
Monday Brief – 2nd Feb
Home Afrika bucks bond boom trend Home Afrika has decided to borrow Sh500 million from banks through a private placement. This has happened after their initial corporate bond offer realized less than Sh500 million, the minimum required for the Capital Markets Authority-approved note to be declared a success. This had…
Saturday Brief – 31st Jan
Shilling steady on liquidity, overnight rates up The Kenyan shilling has become steady against the dollar on Friday with dollar demand restricted by tight local currency liquidity that has led to rising interbank lending rates. At 0743 GMT, commercial banks quoted the shilling at 91.65/75 to the dollar, from Thursday’s…
Friday Brief – 30th Jan
Investors in Uchumi issue gain 45 per cent over two weeks Uchumi’s share reached Sh13 this week, a 27 percent gain since it traded at a low of Sh8.05 after opening of its rights issue two months ago. The highest gainer has been Mumias Sugar’s whose stock is up 50…
Thursday Brief – 29th Jan
Private equity Phatisa buys ‘significant’ stake in General Plastics A private equity fund, Phatisa has bought a major stake in General Plastics (GPL), a Nairobi-based family business specializes in manufacture of packages for food, beverage, cosmetics and agro-chemical companies. General plastics, which was founded in 1977, and currently has 900…
Wednesday Brief – 28th Jan
UAP second most valued insurer on Old Mutual deal UAP insurance has been ranked the second most valued insurance company after Britam. This comes after Old Mutual raised its stake in the insurance company to 60.66 per cent after buying an extra 37.33 per cent stake. The company which plans…
Tuesday Brief – 27th Jan
Use of cheques rises 10pc as clearance time falls to one day The clearance time for cheques has dropped to one day from three days since August 2013, due to an automated system allowing processing based on electronic images. This system has also eliminated physical movement of cheques to paying…
Monday Morning Brief – 26th Jan
HF share defies dilution prospects as investors’ eye rights The share price of Housing Finance has risen by 7.7 per cent in the past five days to Sh48.75 last Wednesday, which could have been motivated by a publication by the mortgage lender of a timetable for the significantly discounted rights.
Saturday Brief – 24th Jan
Ambitious Sh17b leather city could be a game-changer The government plans to construct a Sh17 billion leather city on a 500-acre piece of land in Kinanie, Athi River in Machakos County. Within the city will be 15 tanneries each with a production capacity of 10 tons of skins and…
Friday Brief – 23rd Jan
Kenya Revenue Authority to be split into two by year end The Kenyan Government will by the end of this year split Kenya Revenue Authority (KRA) into two independent agencies but inter-dependent agencies. This process of this split will begin by tabling of the Customs and Border Protection Agency…
Thursday Brief – 22nd Jan
Experts see economic growth at 6pc According to a survey by HTM Capital shows, the economy is expected to grow at a minimum of six per cent this year. It is anticipated that the economy will benefit from one-off additions of between two and 2.5 per cent from infrastructure projects…
Wednesday Brief – 21st Jan
Britam to defend large HF stake in Sh3.5bn cash call The insurance and investment company which owns 46.08 per cent of Housing Finance will enable the mortgage company to have a successful fund raising if it participates in the upcoming rights issue. Britam, which acquired a 24.7 per cent stake…
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