KRA stopped from closing Keroche as excise tax licence renewal dispute rages
KRA stopped from closing Keroche as excise tax licence renewal dispute rages Keroche Breweries has obtained court orders temporarily stopping the Kenya Revenue Authority (KRA) from shutting down its business following its refusal to renew it excise tax licence for the current financial year.The taxman had…
Closing Bell: Kakuzi Limited Top Gainer as East African Portland Cement Declines
Kakuzi Limited Top Gainer as East African Portland Cement Declines Kakuzi Limited was the top gainer of the day. It gained 5.88% to close at KES 360.00, which was a KES 20.00 gain in share price. East African Portland Cement (PORT) was the top loser of the day. It had…
Closing Bell: Eveready East Africa Top Gainer as CfC Stanbic Declines
Eveready East Africa Top Gainer as CfC Stanbic Declines Eveready East Africa (EVRD) was the top gainer of the day. It gained 7.32% to close at KES 4.40, which was a KES 0.30 gain in share price. CfC Stanbic Holdings (CFC) was the top loser of the day. It had…
Closing Bell: CfC Stanbic Top Gainer as Housing Finance Kenya Declines
CfC Stanbic Top Gainer as Housing Finance Kenya Declines CfC Stanbic Holdings (CFC) was the top gainer of the day. It gained 8.41% to close at KES 116.00, which was a KES 9.00 gain in share price. Housing Finance Kenya (HFCK) was the top loser of the day. It had…
Overvalued shilling may hit 110 to the dollar by year end
Overvalued shilling may hit 110 to the dollar by year end Economists says Kenya’s real effective exchange rate (REER) is 20 per cent overvalued and forecasted that the currency is headed for 110 units to the dollar by the end of the year. The REER…
Uchumi sends Ciano packing as it launches forensic audit
Uchumi sends Ciano packing as it launches forensic audit Uchumi Supermarkets’ board has let go of chief executive Jonathan Ciano even as it opened a forensic audit into the cash flow problems that have in recent weeks left the retail chain with empty shelves. Owino Ayodo, the general manager, operations,…
Uhuru rejects mobile T-bill investment
Uhuru rejects mobile T-bill investment President Uhuru Kenyatta has rejected changes to the law that would have allowed retail buyers to invest small amounts in State securities, including through mobile phones. The proposed changes to the Central Bank of Kenya Act would have forced the banks’…
Closing Bell: CFC Stanbic Top Gainer as Pan African Insurance Declines
Closing Bell: CFC Stanbic Top Gainer as Pan African Insurance Declines CFC Stanbic (CFC) was the top gainer at the NSE today. It gained 5.88% to close the day at KES 108 which was a KES 6.00 gain in share price. Pan African Insurance (PAFR) was the top loser as…
Shilling’s decline could scale down ballooning imports
Shilling’s decline could scale down ballooning imports The recent weakening of the shilling against the dollar could help address Kenya’s uncompetitive production of goods and reduce imports, economists at CfC Stanbic say. The shilling is still relatively strong in real exchange rate compared to the currencies…
I&M Bank Will Cut Lending Rate to 18%
I&M Bank Will Drop Lending Rate by 1.5% to 18% from the previous tariff of 19.5%. The move follows a verdict from the Central Bank of Kenya’s (CBK) Monetary Policy Committee (MPC) to reduce the CBR to 11%
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