Closing Bell: Williamson Tea Kenya top Gainer of the day Williamson Tea Kenya (WTK) was the top gainer at the NSE. It gained 32.08% to close the day at KES 350 which was a KES 85 gain in share price. Uchumi Supermarket Limited (UCHM) was the…

Standard Group Limited (SGL) was the top gainer at the Nairobi Securities Exchange. The counter had a gain of 9.77% to the close the day at KES 36.50. This was a KES 3.25 gain in share price. CFC Stanbic Holdings Limited (CFC) closed the day as the top loser registering…

Nairobi, Johannesburg stock markets to cross-list securities The Nairobi and South African bourses are set to launch dual-listing of collective investment funds in the coming months. The listing will focus on exchange traded funds (ETFs)—modelled on unit trusts—at beginning based on the most liquid stocks, principally on the FTSE…

Safaricom share priced ‘above market peers’ Investment bankers at Citi Global Markets are indicating that the Safaricom stock at the Nairobi Securities Exchange (NSE) is trading at a premium compared to peers in emerging and frontier markets. Analysts have changed their recommendation from the “buy” made in January this…

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…

Equity’s returns on shareholder funds seen falling Regional lender Equity Bank could be headed for lower returns on shareholder funds as it doubles bad debt provisions and margins on interest income fall. As Equity grows its loan book, the analysts say, the return on equity (ROE) — used to measure…

PSC shortlists five to battle out for Central Bank governor position Veterans with long experience in public finance management dominate the race to replace retired Central Bank of Kenya governor even as the Public Service Commission (PSC) targeted to fill the influential slot by May. The position of CBK…

TransCentury, BAT top listed firms with diversified boards The analysis of the listed companies’ boards commissioned by New Faces New Voices (Kenya) was done by research firm Think Business, as a way of  improving corporate governance in Kenya’s listed firms. TransCentury Limited  and BAT are the leading companies in board diversification among…

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…

We deliver a summary of important business news in Kenya to you this morning:  Equity Bank secures major Tanzania Revenue Authority tax collection deal Equity Bank Group has sealed a partnership with Tanzania Revenue Authority (TRA) allowing tax payers in the country to pay all their taxes through its network.