Closing Bell: Kakuzi Limited Top Gainer as Pan African Insurance Declines
Kakuzi Limited Top Gainer as Pan African Insurance Declines Kakuzi Limited (KUKZ) was the top gainer of the day. It gained 10.00% to close at KES 363.00 which was a KES 33.00 gain in share price. Pan African Insurance Company (PAFR) was the top loser of the day. It had…
Uchumi to close loss-making outlets, sell assets in recovery plan
Uchumi to close loss-making outlets, sell assets in recovery plan Uchumi Supermarkets has announced radical changes to its operations, which include closing down several outlets and selling a Sh2 billion plot in Kasarani in its newest plan to steer clear of financial troubles. This development comes…
Why Britam restated its profit after declaration
Why Britam restated its profit after declaration Investment firm Britam has said the recent downward revision of its 2014 profit by Sh342.3 million came out of an erroneous accounting of its ownership of a 21.4-acre piece of land in Ngong’.Bramer Properties Limited, a fully owned Britam…
Britam pulls plug on low-income individual cover
Britam pulls plug on low-income individual cover Britam is pulling the plug on an increasingly popular low-end cover for individuals launched with Safaricom in January last year. Individuals who bought the Linda Jamii covers will still continue to get the services until expiry but no new…
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…
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…
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…
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…
Treasury raises Sh24bn from 12-year reopened bond
Treasury raises Sh24bn from 12-year reopened bond The 12-year Sh25 billion infrastructure bond tap sale (reopening) has raised Sh24 billion, meaning the Treasury has achieved its target of netting Sh50 billion from the issue. All the subscriptions to the bond were accepted and allotted at the same fixed yield rate…
Ponzi scheme fells top Britam owner’s Mauritius bank
Ponzi scheme fells top Britam owner’s Mauritius bank A Mauritian bank, Bramer Banking Corporation (BBCL), associated with Britam’s director and top shareholder Dawood Rawat has lost its licence after it was found to have been running a Ponzi scheme. Mr Rawat is the single largest investor in Britam, which is…
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