Mumias Sugar in more trouble with losses past Sh3bn Troubled sugar maker Mumias has sunk deeper into losses, triggering yet another profit warning. The management expects it to record losses of at least Sh3.4 billion this year, more than 25 per cent higher than the…

Olympia Capital Holdings Limited was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 8.70% to end the day at KES 5.00. This was a KES 0.40 gain in share price. Pan Africa Insurance Company Ltd closed the day as the worst performing share…

East African Portland Cement Company was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 9.26% to end the day at KES 59.00. This was a KES 5.00 gain in share price. East African Portland Cement’s gain comes a few days after it swung…

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,…

Banks left with idle capital after fund raising campaigns Data from the Central Bank of Kenya shows lenders have core capital (shareholders’ funds) equivalent to 16.7 per cent of their loan book against the statutory minimum of 10.5 per cent. The headroom against regulatory requirement gives the lenders muscle to…

Energy shares gain as falling oil price lifts consumption Shares of oil marketers KenolKobil and Total are up 15.5 per cent and 12.5 per cent respectively so far this year at Sh10.05 and Sh27. On the electricity side, Kenya Power and KenGen are up 17.6 per cent and 4.4…