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…
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…
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