Loss-making Home Afrika sends CEO packing Loss-making real estate developer Home Afrika has sacked its CEO, Njoroge Ng’ang’a ,nearly two years after he took over the post from his predecessor, Gerald Chege ,in November 2013. The company did not disclose reasons for sending Mr Ng’ang’a packing……

BAT and anti-tobacco lobby oppose new cigarette tax Kenya’s largest cigarette manufacturer and an anti-tobacco lobby have closed ranks to oppose new excise tax rates they say will only reduce government revenues. The parties, who are normally on opposing sides, say Parliament’s amendment of the Excise…

Bourse slips below 4,300 points in sixth successive session of losses The Nairobi Securities Exchange 20 share index fell for the sixth straight session Thursday to slip below the 4,300 points barrier for the first time this year as major counters lost ground. The index…

Safaricom puts on hold sale of digital decoders Safaricom has suspended the sale of its Internet-enabled digital TV decoders to allow for software upgrade barely three months after its launch. Chief executive Bob Collymore told the Business Daily the suspension was due to realisation that…

StanChart’s net profit drops 36pc on bad loans  Standard Chartered Bank’s rising load of non-performing loans has pulled down its net profit for the six months to June by 36 per cent and seen the lender overtaken by two of its peers. With all six top-tier…

Uchumi Supermarket Limited Top Gainer as Atlas Development and Support Services Ltd Declines Uchumi Supermarket Limited (UCHM) was the top gainer of the day. It gained 8.84% to close at KES 8.00 which was a KES 0.65 gain in share price. Atlas Development and Support Services Ltd (ADSS) was the…

South Africa, Nigeria, Kenya bourses in funds cross-list talks The South Africa, Kenya and Nigeria stock exchanges together with market participants have opened discussions with a view to cross-list exchange traded funds (ETF) across the countries. The move is expected to boost liquidity of the…

M-Shwari clients to get mobile medical consultation services The Commercial Bank of Africa (CBA) has partnered with an international mobile-health provider to offer its more than 11 million M-Shwari customers medical consultation services on their phones. Under the partnership the m-Health service provider Hello Doctor, a subsidiary of Metropolitan…

Equity Group Holdings Limited Top Gainer as Sameer Africa Limited Declines Equity Group Holdings Limited (EQTY) was the top gainer of the day. It gained 10% to close at KES 44.00 which was a KES 4.00 gain in share price. Sameer Africa Limited (FIRE) was the top loser of the…

Top foreign funds see returns on NSE equities drop 11pc The top-five foreign mutual funds investing in Kenya have seen their returns decline by an average of 11 per cent year-to-date, a new report by consultancy PricewaterhouseCoopers shows.Investor returns have taken a hit from the…