CBK steps into Safaricom, Equity duel The Central Bank of Kenya has waded into the tag of war between banks and mobile money transfer platforms with a proposal to harmonize transaction charges. Through the 2011 National Payment System Act, the regulator is setting up a payment…

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 9.5% to close at KES 9.80 which was a KES 0.85 gain in share price. Atlas Development and Support Services Ltd (ADSS) was the…

Uchumi clears Sh500 million debt to suppliers Retail chain Uchumi Supermarkets says it has so far cleared Sh500 million debts owed to its suppliers as part of its turnaround plan that involves restocking its shelves. The retailer has in recent months suffered low supply of commodities…

Safaricom unveils fund for innovations Safaricom Foundation, the corporate social investment arm of Safaricom Limited, has launched a Sh50 million fund targeting investors in the social innovation field who may need technical and entrepreneurship support to develop and deploy mobile technology. The fund will empower young…

Flame Tree Group Holdings Limited Top Gainer as Crown Paints Kenya Limited Declines Flame Tree Group Holdings Limited (FTGH) was the top gainer of the day. It gained 9.79% to close at KES 7.85 which was a KES 0.70 gain in share price. Crown Paints Kenya Limited (BERG) was the…

Mumias Sugar Company Ltd Top Gainer as Atlas Development and Support Services Ltd Declines Mumias Sugar Company Ltd (MSC) was the top gainer of the day. It gained 8.57% to close at KES 1.90 which was a KES 0.15 gain in share price. Atlas Development and Support Services Ltd (ADSS)…

Airtel threatens exit over Safaricom ‘dominance’ Telecommunications firm Airtel could exit the Kenyan market if new regulations are not passed to curb Safaricom’s dominance, its chief executive Adil El Youssefi said on Tuesday. Mr Youssefi said “anti-competitive behaviour” by the market leader had condemned competitors to…

Kapchorua Tea Company Ltd Top Gainer as Umeme Limited Declines Kapchorua Tea Company Ltd (KAPC) was the top gainer of the day. It gained 9.6% to close at KES 217.00 which was a KES 19.00 gain in share price. Umeme Limited (UMME) was the top loser of the day. It…

I&M Holdings Ltd Top Gainer as Eveready East Africa Limited Declines I&M Holdings Ltd (I&M) was the top gainer of the day. It gained 12.15% to close at KES 120.00 which was a KES 13.00 gain in share price. Eveready East Africa Limited (EVRD) was the top loser of the…

Equity picks a new fight with Safaricom over M-Pesa fees Equity Bank Group has written a protest letter to the Central Bank of Kenya (CBK) objecting to Safaricom’s intended increase of charges on bank-to-MPesa transfers, which once effected will raise fees charged on Equitel — its…