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…

Treasury scraps controversial 5pc capital gains tax after rejection Treasury secretary Henry Rotich has scrapped the controversial five per cent tax on the gains made from selling shares and instead introduced a 0.3 per cent withholding tax on sales value. Resistance by the Kenya Association…

Closing Bell: Eaagads Limited Top Gainer as Unga Limited Declines Eaagdas limited (EGAD) was the top gainer at the NSE. It gained 10% to close the day at KES 33.00 which was a KES 3.00 gain in share price. Unga Group Limited (UNGA) was the top loser with a drop…

Equity to cede 2.3pc stake in Congolese bank acquisition bid Equity on Tuesday last week announced that three institutional investors — German firm ProCredit, Belgian development finance institution BIO and Dutch fund DOEN — that respectively own 61 per cent, six per cent and 12 per…

Inflation eases to 6.87pc on rising food supply The Kenya National Bureau of Statistics (KNBS) data shows that inflation fell from an eight-month high of 7.08 per cent last month, helped by increased supply of food items due to the onset of heavy rains. May’s Inflation reduced to 6.87 per…

StanChart earnings dip 28 per cent on bad loans Standard Chartered Bank Kenya recorded a 28 per cent drop in net profit in the first quarter ended March, as bad debts took a toll on its earnings. StanChart reported a net profit of Sh1.8 billion in the three months compared…

Ecobank eyes commodity traders, farmers with loan product Ecobank Kenya is set to introduce financing for commodity traders and farmers secured through warehouse receipts. The product is being rolled out by Ecobank as part of improving its trade financing offers given Kenya’s strength in commodities such as maize and wheat…

Gulf African Bank records 41 per cent profit growth Shariah-compliant lender Gulf African Bank (GAB) has recorded a 41 per cent growth in profits after tax, riding on improved operating efficiencies. Gulf African Bank reported an after-tax profit of Sh402 million up from Sh285 million a year earlier. The growth,…

Senator Otieno Kajwang’ passes on Homabay Senator Otieno Kajwang’ died Tuesday night after suffering a cardiac arrest. Orange Democratic Movement (ODM) spokesperson Philip Etale confirmed the death shortly after midnight. […] RVR sues insurance company, seeks KES 68 million compensation Rift Valley Railways (RVR) has sued Cannon…

Kenya Airways Limited (KQ) was the top loser at the Nairobi Securities Exchange (NSE) based on its closing price . It shed 15.34% to KES 8.00 from yesterday’s close of KES 9.45. This was after it announced an…