Leah Wamugu

Global Markets Asia

Asia Stocks Mostly Rise as Investors Assess Omicron Variant Risk

Shares in Asia-Pacific were mostly higher in Wednesday trade as investors continued to assess the impact of the omicron Covid variant. Hong Kong’s Hang Seng index gained 0.34% as of its final hour of trading, paring earlier gains of more than 1%. Mainland Chinese stocks closed mixed, with the Shanghai composite slipping slightly to 3,622.62 and the Shenzhen component advancing 0.697% …

Asia Stocks Mostly Rise as Investors Assess Omicron Variant Risk Read More »

Crude Oil

Oil Prices Edge Higher on Weaker Dollar, Amid Omicron Variant Caution

 Oil prices rose again on Wednesday as the dollar slipped, with risk appetite returning as some governments resist imposing lockdowns to curb the spread of the Omicron COVID-19 variant and as China said it would be able to sustain economic growth. U.S. West Texas Intermediate (WTI) crude futures rose 50 cents, or 0.7%, to $71.62 …

Oil Prices Edge Higher on Weaker Dollar, Amid Omicron Variant Caution Read More »

Asian Markets Traders

Asian Stocks Rise, Japan’s Nikkei 225 Jumps 2%

Shares in Asia-Pacific rose on Tuesday as investors reassessed the situation surrounding the omicron Covid variant. Japanese stocks led gains regionally, with the Nikkei 225 in Japan rising 2.08% on the day to 28,517.59 while the Topix index advanced 1.47% to 1,969.79. South Korea’s Kospi climbed 0.41% to close at 2,975.03. Mainland Chinese stocks closed higher, with the Shanghai composite up …

Asian Stocks Rise, Japan’s Nikkei 225 Jumps 2% Read More »

Kengen

KenGen’s Ethiopia Earnings Grow to Kes1.7 Billion

Kenya Electricity Generating Company (Kengen) earnings from the new Ethiopian operations quadrupled from Kes 440 million last year to Kes 1.7 billion in the year ending June 2021. The firm’s diversification venture that includes drilling in Tulu Moye in Ethiopia contributed revenues that surpassed the expenses of setting up. In its annual report, the electricity …

KenGen’s Ethiopia Earnings Grow to Kes1.7 Billion Read More »

Oil Prices Brent WTI China

Oil Prices Gain 0.8% Despite Worries on the Rapid Spread of Omicron

Oil prices rose on Tuesday, though investors remained worried about the rapid spread of the Omicron coronavirus variant globally, prompting countries to consider more restrictions potentially denting fuel demand. Brent crude futures increased by 59 cents, or 0.8%, to $72.11 a barrel by 0418 GMT while U.S. West Texas Intermediate (WTI) crude futures rose by …

Oil Prices Gain 0.8% Despite Worries on the Rapid Spread of Omicron Read More »

image of a Kenya shilling

Shilling Hits an all-time low of Kes 112.5 against the Dollar Due to Increased Demand

The shilling has declined to a new all-time low of 112.5 against the dollar as importers increase demand for the greenback with the economy recovering from the impact of the pandemic. Reuters quoted the shilling at 112.45/65 per dollar on Thursday, a record low, after hitting its previous all-time low of 112.30/50 earlier in the …

Shilling Hits an all-time low of Kes 112.5 against the Dollar Due to Increased Demand Read More »

Asian Financial Markets

Asian Markets Mixed, Chinese Tech Stocks in Hong Kong Drop

Asia-Pacific stocks were mixed on Friday, following days of turbulent trading this week as investors continue to monitor the situation surrounding the omicron Covid variant. Chinese tech stocks in Hong Kong plunged after ride-hailing giant Didi announced Friday that it will begin taking steps to delist from the New York Stock Exchange — less than six months after it made …

Asian Markets Mixed, Chinese Tech Stocks in Hong Kong Drop Read More »

Global Markets Asia

Asian Pacific Stocks Mixed, Razer Shares Plunge in Hong Kong

Stocks in Asia-Pacific struggled for direction on Thursday, as concerns over the economic impact of the omicron Covid variant continue to weigh on investor sentiment. Hong Kong’s Hang Seng index rose 0.55% to close at 23,788.93, reversing earlier losses. Shares of Razer in the city, however, dropped 7.87% on the day. The company said a consortium has offered to take …

Asian Pacific Stocks Mixed, Razer Shares Plunge in Hong Kong Read More »

Kenya Inflation

Kenya’s Inflation Slows to a Six Month Low of 5.8% in November

Kenyan inflation slowed for the second consecutive month in November, reaching a six-month low as food price growth decelerated. Kenya’s annual inflation rate rose to 5.8% in November, compared to 6.45% recorded in October, Nairobi-based Kenya National Bureau of Statistics said Tuesday in a statement. The median of five economists’ estimates in a survey was …

Kenya’s Inflation Slows to a Six Month Low of 5.8% in November Read More »

Oil Price

Oil Prices Edge Higher, as Investors Focus on OPEC+ Decision Oversupply Policy

Oil prices rose on Thursday, recouping the previous day’s losses, as investors adjusted positions ahead of an OPEC+ decision oversupply policy, but gains were capped amid fears the Omicron coronavirus variant will hurt fuel demand. Brent crude futures rose 85 cents, or 1.2%, to $69.72 by 0402 GMT, having eased 0.5% in the previous session. …

Oil Prices Edge Higher, as Investors Focus on OPEC+ Decision Oversupply Policy Read More »

NSE Market Report

Market Report; 30 November 2021

At the end of today’s trading session on the Nairobi Securities Exchange  A total of 28,282,200 shares in 1,324 deals, corresponding to a market value of KES 1,138,832,773.00, were traded. Compared with the previous NSE trading day (Monday, November 29), today’s data shows 18% improvement in volume, 76% improvement in turnover, and 12% improvement in …

Market Report; 30 November 2021 Read More »

Asia Trader

Asia-Pacific Stocks Fall Amid Renewed Covid Uncertainty; Oil Drops 3%

Major Asia-Pacific markets fell in Tuesday trade as investors in the region continued to track developments surrounding the omicron variant. Major markets in the region fell after Moderna CEO Stephane Bancel told the Financial Times that he expects existing vaccines to be less effective against the new variant. Bancel told CNBC on Monday that it could take months to develop …

Asia-Pacific Stocks Fall Amid Renewed Covid Uncertainty; Oil Drops 3% Read More »

Electricity

Electricity Demand Hits New High Backed by Green Energy in the wake of post-COVID-19 Recovery

The demand for electricity in Kenya hit a new record this week rising to a peak of 2,036MW, the highest ever recorded in history, marking a significant resurgence in demand since the onset of the COVID-19 pandemic in March 2020. At the same time, the country recorded a new energy gross demand peak of 36,381MWh …

Electricity Demand Hits New High Backed by Green Energy in the wake of post-COVID-19 Recovery Read More »

oil

Oil Prices Fall More than 2% after a Report Causes Doubt on the Effectiveness of Vaccines

Oil prices gave up gains on Tuesday, falling more than 2% along with broader financial markets after a media report cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant. The head of drugmaker Moderna told the Financial Times that COVID-19 vaccines are unlikely to be as effective against the Omicron variant …

Oil Prices Fall More than 2% after a Report Causes Doubt on the Effectiveness of Vaccines Read More »

Asian Markets

Asian Markets Mostly Fall, Investors Watch Out for the Omicron Variant

Major markets in Asia-Pacific largely fell on Monday as investors continue to monitor developments surrounding the recently discovered omicron Covid variant. Hong Kong’s Hang Seng index slipped 0.95% to close at 23,852.24. Hong Kong-listed shares of Chinese tech giant Meituan lost 7% after the firm on Friday posted a loss of about 10 billion Chinese yuan ($1.56 billion) for …

Asian Markets Mostly Fall, Investors Watch Out for the Omicron Variant Read More »

Tanzania President

Tanzania Set to Launch Central Bank Digital Currency (CBDC)

Tanzania’s central bank has announced intentions to launch its central bank digital currency (CBDC) amid the global rise and the increasing adoption of cryptocurrencies. The country’s Central Bank Governor Prof Florens Luoga made these comments while speaking last week at a two-day Conference of Financial Institutions in Tanzania held on 25th and 26th November 2021 which …

Tanzania Set to Launch Central Bank Digital Currency (CBDC) Read More »

Asia Trader

Asia-Pacific Markets Slip Amid Renewed Covid Fears as New Variant Emerges

Shares in Asia-Pacific dropped on Friday, with stocks in Hong Kong and Japan leading losses regionally as fears of a new Covid variant weighed on investor sentiment. World Health Organization officials said Thursday they are monitoring a new variant with “a large number of mutations.” A special meeting is scheduled for Friday to discuss its implications …

Asia-Pacific Markets Slip Amid Renewed Covid Fears as New Variant Emerges Read More »

NSE Market Report

Market Report; 25 November 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 39,505,200 shares in 1,284 deals, corresponding to a market value of KES 1,522,818,731.00, were traded. Compared with the previous NSE trading day (Wednesday, November 24), today’s data shows 26% improvement in volume, 59% improvement in turnover, and 31% improvement in …

Market Report; 25 November 2021 Read More »

Asian markets

Asia-Pacific Stocks Mixed; Bank of Korea Announces Rate Hike

Shares in Asia-Pacific were mixed on Thursday as investors reacted to the Bank of Korea’s rate decision. South Korea’s Kospi dipped 0.47% to close at 2,980.27 after the Bank of Korea raised its policy rate by 25 basis points to 1%, a move that was largely expected by analysts in a Reuters poll. Following the decision, the Korean won traded 1,189.89 …

Asia-Pacific Stocks Mixed; Bank of Korea Announces Rate Hike Read More »

Crude Oil Prices

Oil Prices Edge Lower, as Investors Wait for OPEC+ Response on U.S-led Crude Release

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 9 cents, or 0.1%, to $78.30 a barrel at 0201 …

Oil Prices Edge Lower, as Investors Wait for OPEC+ Response on U.S-led Crude Release Read More »

NSE Market Report

Market Report; 24 November 2021

At the end of today’s trading session on the Nairobi Securities Exchange  A total of 31,376,400 shares in 980 deals, corresponding to a market value of KES 960,661,364.00, were traded. Compared with the previous NSE trading day (Tuesday, November 23), today’s data shows 163% improvement in volume, 145% improvement in turnover, and 6% improvement in …

Market Report; 24 November 2021 Read More »

Asia Trader

Asian Markets Mixed, New Zealand Dollar Falls after Central Bank Announces Rate Hike

Shares in Asia-Pacific were mixed on Wednesday, with Japanese stocks leading losses regionally. The Nikkei 225 in Japan fell 1.58% to close at 29,302.66 while the Topix index declined 1.16% to 2,019.12. Markets in Japan were closed on Tuesday for a holiday. South Korea’s Kospi dipped 0.1% on the day to 2,994.29. Hong Kong’s Hang Seng index rose 0.54% as of …

Asian Markets Mixed, New Zealand Dollar Falls after Central Bank Announces Rate Hike Read More »

Asian Financial Markets

Asian Markets Mixed, as Tech Shares Drop

Shares in Asia-Pacific were mixed on Tuesday as investors watched for market reaction to U.S. President Joe Biden picking Jerome Powell for a second term as Federal Reserve chair. Hong Kong’s Hang Seng index declined more than 1% as of its final hour of trading. Mainland Chinese stocks closed mixed, with the Shanghai composite up 0.2% to 3,589.09 while the Shenzhen component slipped 0.371% to 14,905.13. …

Asian Markets Mixed, as Tech Shares Drop Read More »

HF Group

HF Group Appoints Peter Mugeni as Managing Director

Mortgage lender Housing Finance (HF Group) has appointed its credit director Peter Mugeni Oduori as the managing director, effective November 17, 2021. Peter Mugeni is a seasoned banker, with 20 years of experience in leadership, credit risk management and operations, as well as leading large teams both regionally and across Africa. “Through his experience, he …

HF Group Appoints Peter Mugeni as Managing Director Read More »

Asia traders

Asia-Pacific Stocks Mixed; JD.com, Netease Shares in Hong Kong Jump

Shares in Asia-Pacific were mixed on Monday as China kept its benchmark lending rate unchanged. The Hang Seng index in Hong Kong dipped 0.39%, closing at 24,951.34. Hong Kong-listed shares of JD.com and NetEase gained 1.93% and 3.02%, respectively, following a Friday announcement that the two stocks are set to be included in the benchmark Hang Seng index from Dec. 6. In mainland …

Asia-Pacific Stocks Mixed; JD.com, Netease Shares in Hong Kong Jump Read More »

IMF

IMF Grants Tanzania a $372.4 million Zero Rated Loan

The International Monetary Fund (IMF) has approved a zero-rated $372.4 million loan for Tanzania, aimed at supporting the country’s COVID-19 pandemic relief measures. President Suluhu this week hosted the World Bank’s Managing Director for Development Policy and Partnerships Mari Pangestu at State House in Dar es Salaam, in what officials described as a follow-up to …

IMF Grants Tanzania a $372.4 million Zero Rated Loan Read More »

Asia

Asian Markets Edge Lower, Hong Kong Shares Extend Losses

Asian markets were mainly lower on Friday as Hong Kong shares slumped, extending losses from the previous session as some of China’s biggest tech names remained under pressure. The benchmark Hang Seng index declined 1.07% to 25,049.97 while the tech-focused Hang Seng tech index dropped 0.26% to 6,457.97. Alibaba shares listed in Hong Kong dropped more than 10% …

Asian Markets Edge Lower, Hong Kong Shares Extend Losses Read More »

NSE

Market Report;18 November 2021

At the end of today’s trading session on the Nairobi Securities Exchange  A total of 9,761,700 shares in 911 deals, corresponding to a market value of KES 339,253,272.00, were traded. Compared with the previous NSE trading day (Wednesday, November 17), today’s data shows 41% decline in volume, 52% decline in turnover, and 14% decline in …

Market Report;18 November 2021 Read More »

Asia Trader

Asia-Pacific Markets Mixed as Hong Kong Tech Shares Sell off

 Asia-Pacific markets traded mixed on Thursday, following overnight losses on Wall Street, as shares in Japan, Hong Kong and the Chinese mainland struggled for gains. Hong Kong’s Hang Seng Index fell 1.29% to 25,319.72 while the Nasdaq-style technology board, Hang Seng tech index, sold off nearly 3%. Some of the major tech names listed in Hong Kong declined …

Asia-Pacific Markets Mixed as Hong Kong Tech Shares Sell off Read More »

Oil

Oil Prices Decline as China Readies Release of Crude from Strategic Reserves

Oil prices fell on Thursday, adding to an overnight plunge as China said it was moving to release reserves following a Reuters report that the United States was asking big crude consumers to consider a coordinated release of stocks to lower prices. The bid by the U.S. administration to shock markets comes as inflationary pressures, …

Oil Prices Decline as China Readies Release of Crude from Strategic Reserves Read More »

NSE

Market Report; 17 November 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 16,502,200 shares in 1,065 deals, corresponding to a market value of KES 701,323,091.00, were traded. Compared with the previous NSE trading day (Tuesday, November 16), today’s data shows 399% improvement in volume, 950% improvement in turnover, and 6% improvement in …

Market Report; 17 November 2021 Read More »

Asian Markets

Asia-Pacific Stocks Fall as Shares of Japan’s Automakers Slip

Declines across Asia-Pacific stocks were seen by Wednesday’s close, with data showing Japan’s exports growth hit an eight-month low. Markets in the U.S., however, were lifted on the back of stronger-than-expected retail sales data. Australia and South Korea led losses in the region. In Australia, the S&P/ASX 200 fell 0.68% to close at 7,369.90. Financial stocks were …

Asia-Pacific Stocks Fall as Shares of Japan’s Automakers Slip Read More »

Kenya shilling

The Kenya Shilling Weakens as its External Debt Repayment Burden Weighs in

Kenya’s debt service costs, which are expected to surge by 22% this fiscal year, are set to rise even further as the Kenya Shilling sank to all-time lows of Kes 112.100 against the US Dollar, reports by Bloomberg Africa indicate. The latest Central Bank of Kenya (CBK) weekly bulletin shows that the Kenya Shilling exchanged …

The Kenya Shilling Weakens as its External Debt Repayment Burden Weighs in Read More »

oil

Oil Edges Lower, as U.S. Gasoline Stock Draw Raises Prospect of SPR Release

Oil prices dropped on Wednesday after U.S. gasoline stocks fell more than expected last week, which could heighten pressure on the Biden administration to release oil from emergency reserves to cap soaring gasoline prices. U.S. West Texas Intermediate (WTI) crude futures fell 76 cents, or 0.9%, to $80.00 a barrel at 0211 GMT, extending a …

Oil Edges Lower, as U.S. Gasoline Stock Draw Raises Prospect of SPR Release Read More »

Bitcoin

Bitcoin Drops Towards $60K as Major Crypto currencies Lose Ground

Bitcoin and other cryptocurrencies fell sharply on Tuesday retreating from near-record highs. The world’s largest digital coin fell toward $60,000 during late morning trade Singapore time. It recovered some of those losses and was trading at around $60,542 at 9:26 a.m. London time (4:26 a.m. ET), according to Coin Metrics data, is down 5% from 24 …

Bitcoin Drops Towards $60K as Major Crypto currencies Lose Ground Read More »

Asia traders

Asian Markets Mixed, Investors React to Biden-Xi Talks

Shares in Asia-Pacific were mixed on Tuesday as investors reacted to a virtual meeting between U.S. President Joe Biden and Chinese President Xi Jinping. Hong Kong’s Hang Seng index closed 1.27% higher at 25,713.78. Shares of gaming hardware firm Razer in Hong Kong surged 11.46% after Reuters reported, citing sources, that executives at the firm are leading a consortium plan to value the company at …

Asian Markets Mixed, Investors React to Biden-Xi Talks Read More »

AFDB and World Bank Blacklist

Nearly 20 Kenyan Firms Blacklisted by the World Bank and AFDB Over Fraud

Nearly 20 Kenya-based companies have been blacklisted by the World Bank and the African Development Bank (AfDB), in less than two years, over fraud and quality concerns in projects funded by the multilateral lenders. Recently, the World Bank blacklisted Africa Development Professional Group (ADP), a Kenyan consultancy firm that has undertaken several multimillion shilling projects …

Nearly 20 Kenyan Firms Blacklisted by the World Bank and AFDB Over Fraud Read More »

Asian Financial Markets

Asia Pacific Socks Mixed, China Shares Trade Lower Despite economic Data Exceeding Expectations

Shares in Asia-Pacific were mixed on Monday as investors reacted to the latest Chinese economic data for October. Mainland Chinese stocks closed lower, with the Shanghai composite slipping 0.16% to 3,533.30 while the Shenzhen component dipped 0.469% to 14,636.39. Hong Kong’s Hang Seng index sat little changed, as of its final hour of trading. The losses in mainland China came …

Asia Pacific Socks Mixed, China Shares Trade Lower Despite economic Data Exceeding Expectations Read More »

Global Markets Asia

Asia-Pacific Stocks Rise; JD.com Shares in Hong Kong Surge

Shares in Asia-Pacific advanced on Friday as technology shares mostly rose, following overnight gains for their counterparts on Wall Street. Hong Kong-listed shares of JD.com soared nearly 5% following the Singles Day online shopping event, while Alibaba dropped 0.67%. Both companies set new sales records across their platforms on Singles Day. Meanwhile, Hong Kong-listed shares of Chinese chip maker Semiconductor …

Asia-Pacific Stocks Rise; JD.com Shares in Hong Kong Surge Read More »

NSE Nairobi Securities Exchange

Market Report; 11 November 2021

At the end of today’s trading session on the Nairobi Securities Exchange  A total of 29,285,100 shares in 1,722 deals, corresponding to a market value of KES 1,182,002,888.00, were traded. Compared with the previous NSE trading day (Wednesday, November 10), today’s data shows 47% improvement in volume, 63% improvement in turnover, and 61% improvement in …

Market Report; 11 November 2021 Read More »

Kengen Ethiopia Drill Team

KenGen Drills Ethiopia’s Deepest Geothermal Well

Kenya Electricity Generating Company PLC (KenGen) has completed drilling the deepest geothermal well in Ethiopia reaching a depth of 3,000 meters, surpassing a target of 2,750 meters. This marks the second of eight geothermal wells KenGen has been contracted to drill for the state-owned electricity producer, Ethiopia Electric Power Company which was delivered successfully amid …

KenGen Drills Ethiopia’s Deepest Geothermal Well Read More »

Global Markets Asia

Asian Markets Mixed, Evergrande Group shares surge

Asia-Pacific stocks were mixed on Thursday after data released overnight showed U.S. consumer inflation spiked in October. Shares of China Evergrande Group listed in Hong Kong surged 6.75%, following a report from Chinese media outlet Cailianshe that several bondholders received coupon payments from the debt-ridden developer. Other real estate stocks in Hong Kong also rose, with China …

Asian Markets Mixed, Evergrande Group shares surge Read More »

Asian Stocks Exchange

Asian Markets Mixed, Investors React to Chinese Inflation Data

 Shares in Asia-Pacific were mixed on Wednesday as investors reacted to the release of Chinese inflation data for October. Hong Kong’s Hang Seng index gained 0.74% to close at 24,996.14. Shares of Chinese real estate firm Fantasia Holdings in Hong Kong plunged 36.61% after returning to trade. Fantasia — whose Hong Kong-listed stock was suspended for more than …

Asian Markets Mixed, Investors React to Chinese Inflation Data Read More »

NSE

Market Report; 09 November 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 30,271,500 shares in 1,272 deals, corresponding to a market value of KES 974,892,582.00, were traded. Compared with the previous NSE trading day (Monday, November 8), today’s data shows 347% improvement in volume, 531% improvement in turnover, and 2% improvement in …

Market Report; 09 November 2021 Read More »

Asian Markets

Asian Pacific Stocks Mixed, Investors React to China’s Trade Data

Shares in Asia-Pacific were mixed on Monday as investors reacted to China’s trade data released over the weekend. Mainland Chinese stocks recovered from earlier losses to close higher, with the Shanghai composite up 0.2% to 3,498.63 while the Shenzhen component climbed 0.32% to 14,508.86. Hong Kong’s Hang Seng index dipped around 0.4% as of its final hour of trading. …

Asian Pacific Stocks Mixed, Investors React to China’s Trade Data Read More »

image of a Kenya shilling

Kenya Shilling hits losing Streak Against the U.S Dollar on Strong USD Demand

The Kenya Shilling has been on a losing streak against the U.S Dollar in what analysts and forex traders attribute to strong dollar demand especially from oil importers and weak inflows. Figures from the Central Bank of Kenya (CBK) shows that when trading at the forex markets opened on Friday, 5th November 2021, the Kenya …

Kenya Shilling hits losing Streak Against the U.S Dollar on Strong USD Demand Read More »

KRA Tax returns

KRA Collects Kes 154 Billion Taxes in Q2 2021/22, a 23.2% Growth

Kenya Revenue Authority(KRA) collected Kes 154.383 Billion in Q2, 2021/22 financial year, a performance rate of 108.5% and a growth of 23.2% from a Kes 142.285 Billion target. KRA began the 2021/22 financial year on a positive note, surpassing its July-September 2021 target of Kes 461.653 Billion by Kes 15.053 Billion, a growth of 30%. …

KRA Collects Kes 154 Billion Taxes in Q2 2021/22, a 23.2% Growth Read More »

Asia Trader

Asian Markets Mixed, Hong Kong Markets Decline 1.41% Leading Losses

Stocks in Asia-Pacific were mixed on Friday as shares in Hong Kong led to losses among the region’s major markets. Hong Kong’s Hang Seng index slipped 1.41% to finish the trading day at 24,870.51. Mainland Chinese stocks closed lower, with the Shanghai Composite down 1% to 3,491.57 while the Shenzhen component shed 0.637% to 14,462.62. Shares of Chinese property developers …

Asian Markets Mixed, Hong Kong Markets Decline 1.41% Leading Losses Read More »

BK Group Plc

Bank of Kigali (BK Group) Records a 33% Increase in Net Income to Kes 4.1 Billion

Bank of Kigali (BK Group Plc) has reported a Net Income of Kes 4.1 billion (US$ 36.6 million) an increase of 33.0% year on year with a return on average total assets and return on average total equities reaching 3.4% and 18.2% respectively for the period ended September 30th, 2021. In its Audited financial results, …

Bank of Kigali (BK Group) Records a 33% Increase in Net Income to Kes 4.1 Billion Read More »

MTN Uganda

CMA Grants MTN Uganda Consent to Market its IPO to Kenyan Investors

Capital Markets Authority (CMA) has granted  MTN Uganda permission for its Initial Public Offering (IPO) to be marketed in Kenya, allowing the marketing of the shares to both Professional Investors and Retail Investors following the opening of the offer in Uganda on 11th October 2021. The marketing in Kenya is spearheaded by SBG Securities, and Dyer …

CMA Grants MTN Uganda Consent to Market its IPO to Kenyan Investors Read More »

Global Markets Asia

Asian Markets Rise Following Fed’s Decision to Start Tapering Pace of Bond Purchases

Shares in Asia-Pacific rose on Thursday following the U.S. Federal Reserve’s announcement that it will start tapering the pace of its bond purchases later in November. The Nikkei 225 in Japan closed 0.93% higher at 29,794.37 while the Topix index advanced 1.18% to 2,055.56. South Korea’s Kospi also climbed 0.25% on the day to 2,983.22. In mainland China, the Shanghai composite finished the trading …

Asian Markets Rise Following Fed’s Decision to Start Tapering Pace of Bond Purchases Read More »

Asia Kospi

Asian Pacific Stocks Mixed, Shares of Kakao Pay surge in South Korea debut

Shares in Asia-Pacific were mixed on Wednesday as investors looked ahead to the end of the U.S. Federal Reserve’s two-day meeting for clues on tapering. In South Korea, the Kospi declined 1.25% to finish the trading day at 2,975.71. Shares of Kakao Pay surged in their Wednesday debut as they more than doubled from their issue price of 90,000 Korean …

Asian Pacific Stocks Mixed, Shares of Kakao Pay surge in South Korea debut Read More »

Ether

Ether Hits an all time High at $ 4,600 Following Bitcoin’s Trail

 Ether, the world’s second-largest cryptocurrency, hit an all-time high on Wednesday, catching up with bitcoin’s rally and riding on news of wider blockchain adoption. The ethereum token, which underpins the ethereum blockchain network, rose to as high as $4,643 in Asian hours, breaching the previous day’s $4,600 and taking the week’s gains to more than …

Ether Hits an all time High at $ 4,600 Following Bitcoin’s Trail Read More »

Safaricom Plc Peter Ndegwa

DFC Delays Kes 54 Billion Loan to Safaricom-led Consortium in Ethiopia

Development Finance Corporation (DFC), a US government agency has delayed the disbursement of a $500million (Kes 53.97 billion) loan to finance the entry of a Safaricom-led consortium into the Ethiopian telecoms market, citing uncertainty over the ongoing unrest in the country’s Tigray region. The US International Development Finance Corporation (DFC) said it was still weighing …

DFC Delays Kes 54 Billion Loan to Safaricom-led Consortium in Ethiopia Read More »