EABL half-year profit hits Sh7.7bn on land, bottle plant sale
EABL half-year profit hits Sh7.7bn on land, bottle plant sale The sale of land and a glass bottle manufacturing subsidiary has boosted East African Breweries Limited’s half-year net profit by over two-thirds to Sh7.7 billion, making up for currency losses at its South Sudan business. EABL’s…
NSE brings six banks on board ahead of derivatives market launch
NSE brings six banks on board ahead of derivatives market launch The Nairobi Securities Exchange (NSE) has signed up six commercial banks to act as clearing members ahead of the upcoming trade in derivatives. NSE said the banks have been brought on to handle the Central…
Uchumi changes tack on sale of assets after receiving low offers
Uchumi changes tack on sale of assets after receiving low offers Retail chain Uchumi Supermarkets has changed tack on its ongoing sale of assets, preferring to only dispose part of the land on which the flagship Ngong Road branch is built and part-lease the Lang’ata Hyper…
Longhorn, Home Afrika biggest gainers at NSE
Longhorn, Home Afrika biggest gainers at NSE The small cap counters of Longhorn and Home Afrika were the top gainers at the Nairobi Securities Exchange (NSE) last week, bucking the market trend that saw 42 out of the 61 actively traded stocks record share price declines.
Nairobi stock market valuation falls below the Sh2 trillion mark
Nairobi stock market valuation falls below the Sh2 trillion mark Shareholder wealth at the Nairobi Securities Exchange slipped below the Sh2 trillion mark Thursday as large counters recorded price drops. The drop in share prices has created good bargains for investors looking to enter the market.
Closing Bell: Atlas Development and Support Services Ltd Top Gainer as East African Portland Cement Company Declines
Atlas Development and Support Services Ltd Top Gainer as East African Portland Cement Company Declines Atlas Development and Support Services Ltd (ADSS) was the top gainer of the day. It gained 10% to close at KES 2.20 which was a KES 0.20 gain in share price. East African Portland Cement…
Vodafone launches M-Pesa Ghana in Africa expansion bid
Vodafone launches M-Pesa Ghana in Africa expansion bid UK telecommunications company Vodafone, which holds a 40 per cent stake in Safaricom, has launched M-Pesa services in Ghana —completing the spread of mobile money in all African countries where the British firm has a presence.
India-based cement giant eyes Sh12.7bn majority ARM stake
India-based cement giant eyes Sh12.7bn majority ARM stake India’s largest cement manufacturer UltraTech Cement is in the race to acquire a controlling stake in Nairobi Securities Exchange-listed ARM Cement, in which it could buy convertible preference shares of up to $125 million (Sh12.7 billion). UltraTech is…
KCB signs deal with Tuskys for advance pay of suppliers’ bills
KCB signs deal with Tuskys for advance pay of suppliers’ bills Kenya Commercial Bank has signed a financing facility with retailer Tuskys Supermarkets that will see suppliers get payment before their invoices fall due. KCB is the second bank to enter into such a partnership with…
Centum seeks more shares of Coca-Cola bottling firms
Centum seeks more shares of Coca-Cola bottling firms NSE-listed investment company Centum is set to buy more shares in Almasi Beverages, signalling its intention to possibly take full ownership of the holding company of three Coca-Cola bottlers that it owns. Centum has made a limited offer…
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