Abacus Wealth Management

Saturday Brief – 7th Feb

CA to get Sh1.5m fine from three top media houses, lifts licence ban

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 signal distribution platform. This allows NTV, KTN and Citizen – who form the ADN consortium -seven days beginning Friday to meet four conditions among them paying a penalty fee of Sh500,000 each for running a misleading advertisement against the Kenya Information Communication Act 1998 section 46 (1) […]
Shilling steady amid weak demand, strong dollar inflows
Kenya’s shilling held steady around its strongest levels in more than two weeks on Friday, supported by weaker corporate demand for dollars and improved inflows of hard currency. At 0722 GMT, the shilling was trading at 91.25/35, the same level as Thursday’s close and its strongest level against the US currency since January 20. This may be due to a reduction in corporate demand and an improvement in dollar inflows […]
Kenya losing Sh40m monthly to new mobile phone fraud

Kenya could be losing about Sh40 million in month to SIM Box fraud, a fairly new form of crime where international calls are routed as local calls, affecting both service providers and governments., Safaricom who have found the need to invest in new technology to curb the rising threat are now able to detect and disconnect the illegal calls in less than five minutes […]
Over-reliance on a few markets is killing horticulture
Kenya has lost a share of its global horticultural market over the past five years one of the major challenges facing the sub-sector being over-reliance on one or two markets. Some of the most affected crops are maize and sugar cane growing counties whose farmers are grappling with poor prices for their produce […]

New strategy ups Co-op Bank’s investor confidence as stocks rise
Co-operative Bank Group’s business restructuring plan could have received nod from investors. This is after the bank’s share price at the Nairobi Securities Exchange (NSE) surged to Sh20.5 per share on average this week, from an average of 19.25 last week. The bank also became the top mover on the NSE on Tuesday, trading 4.99 million shares valued at Sh102.30 million – accounting for 18.8 per cent of market activity. Co-operative Bank was also most heavily traded stock on Wednesday with 9.62 million shares worth Sh193.8 million traded – making the stock much sought after by foreign investors […]
Kenya dairy farmers get Sh2.3b funding
Thousands of small-scale dairy farmers in Kenya are set to benefit from part of a Sh2.3 billion financial support that seeks to improve their livelihood though enhanced productivity. This follows the signing of a deal between Family Group Foundation and Heifer International Kenya to improve dairy farmers in Kenya, Uganda and Tanzania in a five year programme. Dubbed East Africa Dairy Development Project (EADD), the project in its second phase is partly funded by the Bill and Melinda Gates Foundation and targets about 136,000 farmers in the three countries […]

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