Closing Bell: Britam top mover on Mauritius Ponzi Speculation
British-American Investments Company Limited – BRITAM – (BRIT) was the biggest mover today mostly on account of the situation in Mauritius. The government of Maurtius took over British American Investments Mauritius (BAI Mauritius) over alleged involvement in Ponzi scheme like operations. BAI Mauritius has a 23% ownership stake…
Britam now restates profit after exit of two directors
Britam now restates profit after exit of two directors Financial services firm Britam has revised its books for 2014 a month after they were published, reducing its after tax profit by Sh342 million to about Sh2.5 billion. The Sh342 million profit reduction was revealed two days after the resignation of…
Closing Bell: Kakuzi Rises To Top Gainer as Sameer Africa Limited Declines
Kakuzi Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 9.65% to end the day at KES. 284.00. This is a KES 25.00 gain per share. Sameer Africa Limited took the lead as the worst performing share in the exchange. The counter…
Safaricom to launch TV decoders next month
Safaricom to launch TV decoders next month Safaricom is set to launch its own Internet-enabled digital television decoders next month, stepping up the battle for TV and data customers. Buyers of the high speed 4G-enabled Safaricom decoders will also have access to video-on-demand and downloads […] Tax experts fault KRA…
Kenya’s Transcentury swings into 2.11 bln shillings loss in 2014
Kenya’s Transcentury swings into 2.11 bln shillings loss in 2014 Transcentury reported on Friday a pretax loss of 2.11 billion shillings ($22.42 million) for 2014, after posting a 859 million shillings profit the previous year. It blamed the loss on a 36 percent drop in revenue from its engineering…
Closing Bell: Unga Rises To Take Lead As Top Gainer While Kakuzi Declines
Unga Group Limited continues to perform well in the market as it rises to the top of the gainers list. It ended the day at KES 50.00 having gained 9.89% (KES 4.50) in its share price. Kakuzi Limited took the lead as being the worst performer in the exchange. The…
Jambojet leases another plane amid row with pilots
Jambojet leases another plane amid row with pilots Kenya Airways’ budget carrier Jambojet has leased a second plane to serve the Eldoret and Kisumu routes amid a row with its pilots who are afraid of losing their jobs. The low-cost carrier said on Thursday it had leased a second plane…
Closing Bell: Britam takes the lead as Top Gainer While Umeme Declines
British- American Investments makes a remarkable turnaround in its performance today. It has greatly improved from the worst performing share to the best performing share as the market came to a close today. Britam ended the day at KES 22.25 having gained 9.88% (KES 2.00) in its share price. Umeme…
Equity gains 5pc buoyed by demand from local investors
Equity gains 5pc buoyed by demand from local investors Equity Bank stock has this week rallied to gain nearly five per cent at Sh48, as it recovers from a slide to an eight-month low seen last week. Analysts said the counter has been attracting demand this week, more so from local…
Closing Bell: Total Kenya Top Gainer While Britam Continues to Drop
Total Kenya Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 10% to end the day at KES 24.75. This is a KES 2.25 gain per share. Britam continues its drop in share price for the fourth day in a row and…
Lower oil prices to offer no relief on lending rates
Lower oil prices to offer no relief on lending rates Investment managers say low oil prices are unlikely to spur lower lending rates this quarter as the Central Bank of Kenya (CBK) is expected to maintain a cautious monetary policy. A survey of 10 fund managers, economists and treasury dealers…
Closing Bell: Umeme Top Gainer While Britam Continues To Decline
Umeme was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered again of 8.88% to end the day at KES. 19.00. Britam shares continue to decline as it is still suffering the repercussions of being associated with Bramer Bank Corporation and BAI Company (Mtius) Ltd. Following the…
Equity to refund Dyer & Blair over Sh20m paid out to fraudster
Equity to refund Dyer& Blair over Sh20m paid out to fraudster Equity Bank has lost a protracted court battle with Dyer and Blair Investment Bank after the court directed it to refund over Sh20 million that was fraudulently transferred from one of its client’s account […] Banks struggle to meet…
NSE firms owners’ 2014 earnings up by Sh13.4 billion
NSE firms owners’ 2014 earnings up by Sh13.4 billion NSE firms have paid Sh13.4 billion more in dividend to shareholders for the 2014 financial year with banks and telecoms operator Safaricom owners topping the list of beneficiaries. Dividend payout for the period between January 2014 and March this year stood at…
Safaricom leads stocks higher
Safaricom leads stocks higher Kenyan shares rose on Friday led by telecoms firm Safaricom. The Nairobi Securities Exchange’s main NSE-20 Share Index added 14.26 points to close at 5,093.00 points, driven higher by Safaricom, which added 2.7 percent to Sh17.20. Analysts said Safaricom’s shares were buoyed by a favorable outlook…
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