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…

TransCentury seeks to calm Sh8.1bn bond holders after CEO exit TransCentury has moved to assure investors that it is on course to repaying Sh8.1 billion owed to bondholders despite the sudden resignation of its CEO Gachao Kiuna last week. Dr Kiuna left the investment firm last…

Revenue grows but falling stock values hit Britam’s bottomline Kenyan insurer British American Investments (Britam) saw its profit after tax for the first half of the year fall dramatically to Sh625 million, down from Sh2.75 billion in the same period last year. Pretax profit fell to…

NSE welcomes pro-investor budget measures Nairobi Securities Exchange (NSE) officials have applauded three of the measures proposed in Treasury secretary Henry Rotich’s budget statement Thursday. For example, exemption of shares from Capital Gains Tax (CGT); plans to introduce mobile-based bond purchases. Exemption from stamp duty of…

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…

TransCentury, BAT top listed firms with diversified boards The analysis of the listed companies’ boards commissioned by New Faces New Voices (Kenya) was done by research firm Think Business, as a way of  improving corporate governance in Kenya’s listed firms. TransCentury Limited  and BAT are the leading companies in board diversification among…

Africa’s mobile money makes its way to Europe with M-Pesa M-Pesa has nearly 17 million active customers and as many as 186,000 agents worldwide. Customers make more than €900 million (US$1.1 billion) worth of person-to-person transactions a month. Now, the technology that was honed in Africa is being exported to…

The NSE today closed on a lower note than last week Friday. The 20-share index closed at 4147.94, down 8.05 points from last Friday and the All-share index at 92.26, down 0.33 points. Despite such wanting performance, the bourse has maintained performance over the 4000 mark for this last third…

The performance at the Nairobi Securities Exchange ended at a slight dip on Friday with both major indices recording decreased performance. The number of shares that were traded edged up to 43.7 million compared to 35.2 million on Thursday. Market capitalization however, dipped by around KES 850 million. It…

There was a recorded increased performance from both the NSE 20-share index and the All-share index for the first time this week. Good news all round for investors whether they had a diversified portfolio or one focused on a few shares. The All-share index closed at 92.66 points,…