Safaricom leads stocks higher Kenyan shares rose on Friday led by telecoms firm Safaricom. The Nairobi Securities Exchange’s main NSE-20 Share Index added 14.26 points to close at 5,093.00 points, driven higher by Safaricom, which added 2.7 percent to Sh17.20. Analysts said Safaricom’s shares were buoyed by a favorable outlook…

Kenya Power outshines energy stocks at NSE The Kenya Power stock is up 18.7 per cent to Sh17.15 year-to-date—carrying on a trend established in 2014—even as power generating firm KenGen has shed three per cent to Sh10. The stock has been among the leading beneficiaries of foreign investor inflows since…

Kenya Re profit hits Sh3bn on new business growth Kenya Reinsurance registered a 12.4 per cent growth in net profit on the back of an increase in net premiums and higher investment income. Kenya Re’s profit stood at Sh3.1 billion in the year ended December 31, 2014 while its net earned…

Centum signs deal with UK brothers for Rea Vipingo Investment firm Centum has reached a multi-billion shilling  deal with two British brothers that will see it withdraw its hostile takeover bid for Rea Vipingo, an NSE-listed agricultural firm majority owned by the UK citizens. The deal will see Centum acquire 10,546…

Mastermind wins Kenya Power deal to build substations Advertising firm Magnate Ventures and Mastermind Tobacco, through its subsidiary NGM Ltd, have signed lucrative tenders for construction of 36 Kenya Power substations in bids, which were dominated by Asian and Gulf-based companies. According to Kenya Power, the new substations will improve…

Telecom firms to pay hefty penalties for poor service Telecom firms are set to start paying between 0.1 to 0.2pc of their annual revenue instead of Sh500,000 flat rate as penalties for providing substandard services to customers. CA director-general stated that the current fine was too lenient and has…

Safaricom’s M-Pesa cards plan targets e-payment billions The M-Pesa debit cards and point of sale (POS) terminals will enable customers to pay for government services, which the State has committed to shift online in a bid to curb corruption and ease transactions at public offices. Safaricom has signed deals with…

At 3.10 pm today when the Nairobi Securities Exchange (NSE) closed The Kenya Power & Lighting Company Limited (KPLC) had risen 13.33%. The power distributor released its end of year results today posting …

Kenya Power & Lighting Company Limited (KPLC) was as at noon today the top gainer at the Nairobi Securities Exchange (NSE). The power distributor released its end of year…

Services paralyzed as workers’ protest spread The protest by City Council of Nairobi workers over delays in effecting a salary increment negotiated two years ago spread to other local authorities Monday, paralysing services. City Hall workers downed their tools last Thursday, abandoning vital services like…