At the end of today’s trading session on the Nairobi Securities Exchange A total of 17,580,900 shares in 975 deals, corresponding to a market value of KES 777,164,417.00, were traded. Compared with the previous NSE trading day (Wednesday, September 22), today’s data shows 16% decline in volume, 3% decline in turnover, and 9% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.71 trillion. In the aggregate, 46 NSE equities...
Shares in Asia-Pacific were mostly higher in Thursday trade as investors in Asia-Pacific continue monitoring the situation surrounding China Evergrande Group. Hong Kong’s Hang Seng index rose 1.04%, as of its final hour of trading, following losses earlier in the week. It had returned to trade after a holiday on Wednesday. Shares of China Evergrande Group in the city jumped more than 17%, paring some gains after soaring more than 20% earlier. That was also after days...
Nigeria and Ghana are looking forward to adopting central bank digital currencies as they look to ride the wave of popularity of cryptocurrencies in West Africa’s two largest economies. The Central banks in both countries have partnered with foreign financial tech companies to create digital versions of their currencies. The Bank of Ghana has partnered with German firm Giesecke+Devrient (G+D) to pilot the e-Cedi. G+D will provide the technology that will be tested in a...
Ethiopia and the Government of Kenya through the Ethiopia Customs Commission and the Border Control and Operation Coordination Committee have signed the Moyale-Moyale One-Stop Border Post (OSBP) operational procedure manual. The signing ceremony was held in Addis Ababa and attended by key private and public sector players from both countries. This follows the inauguration launch on 9th December 2020 by the Heads of both Governments and the subsequent commencement of OSBP Operations on 8th June...
Oil prices rose on Thursday, extending strong gains overnight with fuel demand growing and crude stocks declining as production remains hampered in the U.S. Gulf of Mexico after two hurricanes. The market was also supported by a broader switch back into risk assets as concerns eased over a potential default by huge property developer China Evergrande (3333. HK) and the possible fallout on the world’s second-largest economy. U.S. West Texas Intermediate (WTI) crude futures rose 13 cents,...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 20,957,300 shares in 1,072 deals, corresponding to a market value of KES 799,404,479.00, were traded. Compared with the previous NSE trading day (Tuesday, September 21), today’s data shows 23% improvement in volume, 26% decline in turnover, and 8% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.71 trillion. In the aggregate, 49 NSE equities...
Kenya Power has withdrawn an application to increase bills by up to a fifth, shifting its focus to lowering costs, curbing electricity theft and recovery of unpaid bills amounting to over Kes 27 billion. Energy Cabinet Secretary Charles Keter Wednesday says the firm has recalled the application that was submitted to the Energy and Petroleum Regulatory Authority (EPRA) in 2019. In the application, the firm had sought to increase the consumption charge for usage of...
Oil prices climbed more than 1% on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. U.S. West Texas Intermediate (WTI) crude futures rose 89 cents, or 1.3%, to $71.38 a barrel at 0516 GMT, adding to a 35 cent gain from Tuesday. Brent crude futures climbed 88 cents, or 1.2%, to $75.24 a barrel,...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 16,991,000 shares in 1,160 deals, corresponding to a market value of KES 1,082,645,967.00, were traded. Compared with the previous NSE trading day (Monday, September 20), today’s data shows 187% improvement in volume, 489% improvement in turnover, and 7% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.71 trillion. In the aggregate, 49 NSE equities...
Vodacom Group has signed a deal that could see it buy an additional 10.9 per cent stake in Safaricom Telecommunications Ethiopia from the UK’s sovereign wealth fund CDC Group at a cost of $1.74 billion (Kes 191.2 billion) in the coming years. “As part of the transaction agreements, Vodacom has granted a put option on the shares held by the CDC Group in the holding company to facilitate CDC Group’s potential exit in the investment....
Shares in Asia-Pacific were mixed on Tuesday as investors continued monitoring the situation surrounding embattled developer China Evergrande Group. Japanese stocks declined as they returned to trade following a Monday holiday. The Nikkei 225 closed 2.17% lower at 29,839.71 as shares of conglomerate Softbank Group plunged 4.98%. The Topix index shed 1.7% on the day to 2,064.55. Hong Kong’s Hang Seng index, which was dragged down by more than 3% on Monday amid investor fears around Evergrande, rose 0.51% to close...
Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global markets remain haunted by the potential impact on China’s economy of a crisis at heavily indebted property group China Evergrande. Brent crude gained 52 cents or 0.7% to $74.44 a barrel by 0212 GMT, having fallen by almost 2% on Monday. The contract for West Texas Intermediate (WTI), which expires later on Tuesday, was up...
At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 5,916,500 shares in 1,089 deals, corresponding to a market value of KES 183,738,871.00, were traded. Compared with the previous NSE trading day (Friday, September 17), today’s data shows 52% decline in volume, 52% decline in turnover, but 20% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.76 trillion. In the aggregate, 44...
The high court has declared minimum tax provisions unconstitutional and its tax guidelines void. In its judgement, the High Court has issued an order restraining the Kenya Revenue Authority(KRA) from implementing, further implementing, administering, applying or enforcing section 12D of the Income Tax Act, chapter 470 of the laws of Kenya as amended by the Tax Laws ( Amendment) No.2 Act, 2020 by collecting or demanding payment of the minimum tax. The move has offered...
Hong Kong’s Hang Seng index led losses among Asia-Pacific markets in Monday trade, with shares of embattled Chinese developer China Evergrande Group continuing to drop. The Hang Seng index dropped 3.3% to close at 23,099.14. Shares of China Evergrande Group in the city plummeted 10.24%, after falling as much as 17% earlier. The Hang Seng Properties Index dropped to a 52-week low, falling 6.69% on the day. Shares of insurers listed in asia also plunged. AIA dropped 4.94% while...
The BOC Kenya Board has appointed Joseph Ramashala the Non-Executive Director with effect from 13 September 2021. This comes after the resignation of Marius Kruger as a Non-Executive Director who was appointed a Non-Executive Director of BOC Kenya in August 2013 and was a Member of the Audit & Risk and the Nominations and Corporate Governance Committees. Marius Kruger has a wealth of experience in general management, financial audits and advisory services, business planning, financial and management...
China has been named the leading bilateral lender to Kenya by the Central Bank of Kenya (CBK) accounting for 67% of its external debt followed by Japan(14%), France(7%) with other countries accounting for 11%. A new analysis of the composition of Kenya’s bilateral lenders by the Central Bank of Kenya (CBK) shows that China controlled less than one per cent of Kenya’s external debt portfolio in 2006. By June 2011, however, the Asian country was...
Oil prices fell on Monday, extending losses from Friday after the U.S. dollar jumped to a three-week high and the U.S. rig count rose, although nearly a quarter of U.S. Gulf of Mexico output remained offline in the wake of two hurricanes. U.S. West Texas Intermediate (WTI) crude futures fell 30 cents, or 0.4%, to $71.67 a barrel at 0059 GMT, after declining by 64 cents on Friday. Brent crude futures fell 27 cents, or 0.4%, to...
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 12,263,100 shares in 909 deals, corresponding to a market value of KES 384,690,461.00, were traded. Compared with the previous NSE trading day (Thursday, September 16), today’s data shows 33% decline in volume, 26% decline in turnover, and 15% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.78 trillion. In the aggregate, 47...
The board of ICEA LION General Insurance Company Limited has appointed Mr Philip Lopokoiyit as the new Chief Executive Officer and Principal Officer of the company effective 20th September 2021 following regulatory approval. The appointment follows the stepping down of Mr Paul Muthaura in line with medical advice so as to completely recover following an accident early in the year. The board however has expressed gratitude for the contribution he has made during his tenure...
Longhorn Publishers has reported a profit after tax of kes 7.48 million for the first six months ended 30th June 2021 a significant improvement from the loss of Kes 225 million that was recorded during the previous year. Revenue for the period recorded a 16% increase to Kes 1.244 billion attributed to the business model, strong brand, agile employees and ability to adapt to a changing operating environment. The publisher reported that Kenya recorded an...
Oil prices fell on Friday as more supply came back online in the U.S. Gulf of Mexico following two hurricanes, but both benchmark contracts are on track to post weekly gains of around 4% as the recovery in output is seen lagging demand. Brent crude futures fell 17 cents, or 0.2%, to $75.50 a barrel at 0359 GMT, giving up most of the previous session’s 21 cent gain. U.S. West Texas Intermediate (WTI) crude futures...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 18,178,000 shares in 1,065 deals, corresponding to a market value of KES 521,842,680.00, were traded. Compared with the previous NSE trading day (Wednesday, September 15), today’s data shows 46% improvement in volume, 17% improvement in turnover, but 33% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.74 trillion. In the aggregate, 47 NSE equities...
Asia-Pacific stocks were largely lower on Thursday, with Chinese stocks leading losses regionally. By the mainland market close on Thursday, the Shanghai Composite dropped 1.34% to 3,607.09 while the Shenzhen component plunged 1.954% to 14,258.13. Hong Kong’s Hang Seng index declined 1.46% to close at 24,667.85, with most casino stocks listed in the city seeing a second straight day of sharp losses. Shares of Wynn Macau in Hong Kong dropped 4.69%, Sands China fell 7.96% and Melco International Development slipped 0.76%. Those moves followed a Wednesday plunge...
Kenya Power, the electricity distributor company is back to profitability according to its parent Ministry. Chief Administrative Secretary (CAS) in the Ministry of Energy Zachary Ayieko says the company will post a profit for the year ended June 2021 on the back of concerted efforts to improve its operations. “We are going to make a profit and the turnaround results can now be seen. We hope this performance can be sustained. What we are noting...
Oil prices slipped on Thursday, paring back only some of the large gains made the previous day on the back of a larger-than-expected drawdown in crude oil stocks in the United States. Brent crude oil fell 12 cents, or 0.2%, to $75.34 a barrel by 0649 GMT, after rallying 2.5% the previous day. U.S. West Texas Intermediate (WTI) crude was down 14 cents, or 0.2%, at $72.47 after surging 3.1% on Wednesday. U.S. crude oil...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 12,451,800 shares in 1,579 deals, corresponding to a market value of KES 445,915,853.00, were traded. Compared with the previous NSE trading day (Tuesday, September 14), today’s data shows 30% decline in volume, 18% decline in turnover, but 30% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.73 trillion. In the aggregate, 48 NSE equities...
Shares in Asia-Pacific were largely lower on Wednesday, as investors reacted to the release of Chinese economic data. Hong Kong’s Hang Seng index dropped 1.84% to close at 25,033.21 — falling more than 1% for the third straight session. Casino stocks listed in the city plunged amid fears over tighter regulations as Macao kicked off a public gaming consultation. Shares of Wynn Macau plummeted 29%, while Sands China plunged more than 32%. Galaxy Entertainment Group dropped around 20%. Mainland Chinese stocks closed lower,...
The Energy and Petroleum Regulatory Authority (EPRA) has raised the prices of super petrol by Kes.7.58 per litre to past Kes.130 per litre, an all-time high cost for the commodity in its latest price review. This is while the cost of diesel and kerosene shoots by Kes.7.94 and Kes.12.97 per litre to Kes115.60, and Kes110.82 per litre respectively in Nairobi. A litre of petrol in Kenya’s Capital Nairobi will now cost Kes.134.72 rising from Kes.127.14....
Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen. Brent crude oil rose 39 cents, or 0.5%, to $73.99 a barrel by 0133 GMT, U.S. West Texas Intermediate (WTI) crude climbed 44 cents, or 0.5%, to $70.90 a barrel. U.S. crude oil, gasoline and distillate stocks all fell last week, according to two...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 17,720,500 shares in 1,216 deals, corresponding to a market value of KES 545,478,593.00, were traded. Compared with the previous NSE trading day (Monday, September 13), today’s data shows 13% improvement in volume, 11% decline in turnover, but 8% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.74 trillion. In the aggregate, 48 NSE equities...
Shares in Asia-Pacific were mixed on Tuesday as investors looked ahead to the release of U.S. consumer inflation data for August. In Hong Kong, China Evergrande Group’s stock plunged 11.87% after the embattled property developer on Tuesday flagged expectations for a “significant continuing decline in contract sales in September,” as confidence falls following negative media reports surrounding the firm. Shares of China Evergrande New Energy Vehicle and Evergrande Property Services, units that Evergrande has been attempting to sell, also plummeted 24.66%...
The Kenya Electricity Generating Company PLC (KenGen) has been cleared to sell an equivalent of 4.6 million tonnes of carbon emissions earned over the last 18 months. This follows the finalization of the verification of the issuance of a cumulative 4,617,309 tonnes of Carbon Emissions to six KenGen projects by the United Nations Framework Convention on Climate Change (UNFCCC). This decision was arrived at after the issuance of the latest 2,025,813 tonnes of Carbon Emission Reductions to...
Oil prices hit a six-week high on Tuesday on concerns that another storm could affect output in Texas this week even as the U.S. industry struggles to return to normal production levels after Hurricane Ida wreaked havoc on the Gulf Coast. Oil prices rallied for a third straight day, with Brent crude hitting the highest since August. 2 earlier in the session. Brent crude was up 40 cents, or 0.5%, at $73.91 a barrel at...
At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 15,651,400 shares in 1,127 deals, corresponding to a market value of KES 615,823,237.00, were traded. Compared with the previous NSE trading day (Friday, September 10), today’s data shows 39% improvement in volume, 54% improvement in turnover, and 7% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.74 trillion. In the aggregate, 49...
Shares in Asia-Pacific were mixed on Monday, with stocks in Hong Kong leading losses. Hong Kong-listed shares of Alibaba dropped 4.23% following a Financial Times report that Beijing wants to break up Ant Group’s Alipay and force the creation of a separate loans app. Other Chinese tech stocks also declined, with Tencent falling 2.45% while Meituan slipped 4.47%. The Hang Seng Tech index dropped 2.27% to 6,595.03. Chinese electric vehicle stocks fell after the country’s industry minister said consolidation in the sector is...
Oil prices rose for a second session on Monday as concerns over U.S. output following damage from Hurricane Ida supported the market, along with expectations for higher demand. Brent crude rose 33 cents, or 0.5% to $73.25 a barrel. U.S. West Texas Intermediate (WTI) crude also added 32 cents, or 0.5%, to $70.04at 0436 GMT. Both markets were at their highest since September 3 earlier in the session. About three-quarters of the offshore oil production...
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 11,263,500 shares in 1,049 deals, corresponding to a market value of KES 399,062,545.00, were traded. Compared with the previous NSE trading day (Thursday, September 9), today’s data shows 31% decline in volume, 27% decline in turnover, and 15% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.74 trillion. In the aggregate, 47...
Shares in Asia-Pacific rose on Friday, as investors monitored Hong Kong-listed stocks of firms in regulation-hit sectors such as video games. Shares of Tencent in Hong Kong jumped 2.08% on Friday while NetEase gained 3.14% — a partial recovery after the heavy losses seen Thursday. Gaming stocks had tumbled on Thursday as the South China Morning Post reported that the Chinese government will suspend approvals for new online games in the country. After the market close, however, the...
Analysts at British bank Standard Chartered predict that Bitcoin’s price could reach $100k by the end of 2021 or early next year while Ether could hit $10k by then. The digital currency has been trading close to the $50k region, but analysts at Standard Chartered believe that its price could double in the coming months. Bitcoin is currently struggling below the $50k level and is currently exchanging hands at $46,203.58 a 0.65% decline as at...
Oil prices rose on Friday on growing signs of tightness in U.S. markets after Hurricane Ida hit offshore output, although benchmarks were heading for weekly losses of about 1% after China announced plans to sell crude from its strategic reserves. Brent crude futures for November rose 44 cents, or 0.6%, to $71.89 a barrel by 0324 GMT. U.S. West Texas Intermediate (WTI) crude futures for October was at $68.49 a barrel, up 35 cents, or...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 16,311,000 shares in 1,227 deals, corresponding to a market value of KES 550,021,133.00, were traded. Compared with the previous NSE trading day (Wednesday, September 8), today’s data shows 48% improvement in volume, 67% improvement in turnover, but 11% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.73 trillion. In the aggregate, 48 NSE equities...
Hong Kong stocks dropped on Thursday, with shares in the rest of Asia-Pacific also largely declining. Shares of Tencent and Netease in Hong Kong dropped 8.48% and 11.03% respectively on Thursday after regulatory pressures surfaced again. While the broader Hang Seng index in Hong Kong dropped 2.3% on the day to 25,716. Chinese state media reported that the two were among video game firms summoned to a meeting with regulators. Issues discussed during the meeting included reminding them of restrictions on...
Stanbic Holdings Plc Board of Directors has appointed Ms Wambui Kihuha-Mbesa as an Independent Non-Executive Director on the Board, with effect from 8th September 2021. Wambui Kihuha-Mbesa is a seasoned technology industry executive and entrepreneur with over 20 years of experience. Currently, she works as the Chief Executive Officer of INTRASOFT International East Africa. She has previously been at the helm of several multinationals and possesses diverse board experience. Her expertise will bolster digital and entrepreneurship skills...
The Board of Directors of Home Afrika Limited has appointed Mr Nelson Ashitiva as a Non-Executive Director of Home Afrika with effect from 1st September 2021. Nelson Ashitiva is a lawyer, business leader and corporate governance expert with more than 15 years of experience. He leads three business advisory firms in the sector of law, energy and structured finance. His expertise includes mergers & acquisitions, capital markets, corporate/ commercial transactions and investments in each of...
Oil prices rose for a second session on Thursday, recovering from earlier losses as a decline in U.S. Gulf of Mexico output following damages from Hurricane Ida underpinned the market. Brent crude added 23 cents, or 0.32% to $72.83 a barrel at 0221 GMT West Texas Intermediate (WTI) crude rose 15 cents, or 0.22%, to $69.45 a barrel. “U.S. production is struggling to recover from Hurricane Ida. Extensive damage to infrastructure and power outages mean Ida...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 11,049,600 shares in 1,378 deals, corresponding to a market value of KES 328,708,061.00, were traded. Compared with the previous NSE trading day (Tuesday, September 7), today’s data shows 23% decline in volume, 15% decline in turnover, and 2% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.71 trillion. In the aggregate, 51 NSE equities...
Shares in Asia-Pacific were mixed on Wednesday, with shares of China Evergrande Group recovering slightly after briefly falling below their IPO price. By the Wednesday market close in Hong Kong, China Evergrande Group shares in the city rose 3.92%. Still, the embattled property developer’s stock has dropped nearly 5% so far this week, extending declines since last week after it warned that it could default. Moody’s Investors Service on Tuesday downgraded its rating, citing “heightened liquidity...
The price of bitcoin fell Tuesday after breaking through $52,000 late Monday, reaching its highest level since May. The price action comes as El Salvador adopted the largest cryptocurrency by market capitalization as legal tender, becoming the first country to do so. Bitcoin dropped as much as 16% on Tuesday morning to $46,892.04. The digital currency is currently trading at $ 45,440.23 as of 10.30 A .M East African Time a 13.12% 24-hour decline. Consequently,...
Oil prices were little changed on Wednesday following overnight losses from a stronger dollar and demand concerns, with a slow production restart in the U.S. Gulf of Mexico providing some support. U.S. West Texas Intermediate (WTI) crude futures rose 11 cents, or 0.2%, to $68.46 a barrel at 0429 GMT, after sliding 1.4% on Tuesday following the Labor Day holiday. Brent crude futures fell 2 cents to $71.67 a barrel after falling 0.7% on Tuesday. “The market...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 14,312,200 shares in 1,406 deals, corresponding to a market value of KES 385,906,865.00, were traded. Compared with the previous NSE trading day (Monday, September 6), today’s data shows 16% improvement in volume, 9% improvement in turnover, and 9% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.7 trillion. In the aggregate, 47 NSE equities...
Shares in Asia-Pacific were mostly higher on Tuesday, as China’s August trade data came in above expectations. The Shanghai Composite in mainland China rose 1.51% to close at 3,676.59 while the Shenzhen component advanced 1.074% to 14,702.90. China’s exports jumped 25.6% year-over-year in August, customs data showed Tuesday — above expectations for a 17.1% rise by analysts in a Reuters poll. Hong Kong’s Hang Seng index gained 0.73% to close at 26,353.63. Shares of retail firms listed in the city...
WPP Scangroup’s share price gained 54.4% at the Nairobi Securities Exchange, four days after publishing its delayed 2020 results. The stock is currently trading at Kes 5.56, rising from Kes 3.6 recorded the last week on Tuesday. The rally started on Wednesday when Scangroup published its financial statements for the year ended December, which showed the Marketing and communication company reported a 22% loss in the group revenue for the year 2020 from continuing operations...
Oil prices were mixed on Tuesday in quiet trade as some investors scooped up bargains following the recent losses while growing fears over slower demand after Saudi Arabia’s sharp cuts to crude contract prices for Asia weighed on sentiment. Brent crude futures for November rose 31 cents, or 0.4%, to $72.53 a barrel by 0452 GMT, after falling 39 cents on Monday. U.S. West Texas Intermediate crude for October was at $69.14 a barrel, down 15...
At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 12,353,200 shares in 1,288 deals, corresponding to a market value of KES 352,712,521.00, were traded. Compared with the previous NSE trading day (Friday, September 3), today’s data shows 55% decline in volume, 3% improvement in turnover, and 15% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.72 trillion. In the aggregate, 52...
Asia-Pacific stocks rose on Monday, with shares in Japan and China seeing big gains. Japan’s Nikkei 225 was among the biggest gainers regionally, rising 1.83% to close at 29,659.89. That added to its surge of 2.05% on Friday after Japanese Prime Minister Yoshihide Suga said he will not be running in the upcoming leadership election. The Topix advanced 1.24%. Mainland Chinese stocks also saw robust gains on the day, with the Shanghai composite gaining 1.12% to 3,621.86 and the Shenzhen component jumped...
Cryptocurrency markets were buoyed by a fresh wave of bullishness Monday, as bitcoin rose for a sixth straight day to a three and a half-month high of over $50,000 and ether (ETH), the native token of the Ethereum blockchain, pushed past a key psychological level of $4,000. Bitcoin climbed to as high as $51,000 on Monday, a 3.06% rise and was changing hands at around $51,689.55 at around 12.00 P.M East African Time, the highest...
Unga Group has announced the appointment of Mr Joseph Malel Choge as the incoming managing director of the group following the retirement of Mr Nicholas Hutchison effective 31st December 2021. Joseph Choge is a senior executive with years of experience within manufacturing, telecoms, banking, insurance and Finance. Joseph has graduated from the University of Nairobi with a degree in mathematics and later on a Master’s degree in International Management. Previously, Joseph Choge served as Chief...
Oil prices extended losses on Monday after the world’s top exporter, Saudi Arabia, slashed crude prices for Asia over the weekend, signalling that global markets are well supplied. Brent crude futures for November fell 57 cents, or 0.8%, to $72.04 a barrel by 0101 GMT, while U.S. West Texas Intermediate crude for October was at $68.73 a barrel, down 56 cents, or 0.8%. State oil giant Saudi Aramco notified customers in a statement on Sunday that it will...
Safaricom Telecommunications Ethiopia PLC (Safaricom Ethiopia) announced a countrywide staff recruitment drive and introduced its leadership team as it affirmed its commitment to investing in Ethiopia’s digital future ahead of its commercial launch. “The Global Partnership for Ethiopia is proud to be investing in Ethiopia and thanks the Government of Ethiopia and other key partners for their support in the initial preparations for commercial launch. Such partnerships are the building blocks of digital transformation, and...
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 27,578,900 shares in 1,124 deals, corresponding to a market value of KES 341,911,653.00, were traded. Compared with the previous NSE trading day (Thursday, September 2), today’s data shows 302% improvement in volume, 128% improvement in turnover, and 10% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.73 trillion. In the aggregate, 47...
Asian markets were mixed as Shares in Japan jumped on Friday after Prime Minister Yoshihide Suga said he will not be running in the upcoming leadership election. The Nikkei 225 closed 2.05% higher at 29,128.11 while the Topix index finished the trading day 1.61% higher at 2,015.45. Japanese manufacturing stocks saw big gains, with Fanuc jumping 3.46% while JFE Holdings surged 6.49%. The Japanese yen traded at 109.97 per dollar, still stronger than levels around 110.4 seen against the greenback earlier this...
A report by the Kenya Bankers Association (KBA) showed that commercial banks contributed 27 % of all corporate taxes paid in Kenya in 2020 despite the adverse effects of the COVID-19 pandemic, which caused a 12 % overall decline in their contribution to the exchequer compared to the year 2017 to 2018. A new report compiled by audit firm PricewaterhouseCoopers (PwC) on behalf of the Kenya Bankers Association (KBA) attributes the reduction to lower tax...
Oil prices were mixed on Friday after a strong rise in the previous session on a weaker dollar and a fall in U.S. crude stocks and were set for modest weekly gains ahead of a highly anticipated U.S. monthly jobs report. Brent crude futures were up 13 cents, or 0.2%, to $73.16 a barrel at 0619 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1%, at $69.95 a barrel. Both...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 6,864,700 shares in 1,022 deals, corresponding to a market value of KES 149,824,581.00, were traded. Compared with the previous NSE trading day (Wednesday, September 1), today’s data shows 60% decline in volume, 70% decline in turnover, and 20% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.75 trillion. In the aggregate, 47 NSE equities...
East African Breweries Limited (EABL) has launched its inaugural Environmental, Social and Governance report to society. The report provides an overview of the processes and mechanisms EABL has put in place to support communities and do business the right way, detailing the direct impact their sustainability work has on its various stakeholders. Speaking during the virtual event where the report was launched, PS Kiptoo urged companies to continue supporting and embracing the global agenda for...
Shares in Asia-Pacific were mixed in Thursday trade as Australia reported a higher-than-expected trade surplus in July. The S&P/ASX 200 in Australia shed 0.72%. Australia recorded a trade surplus of 12.117 billion Australian dollars (about $8.93 billion) in July, according to data released Thursday by the country’s Bureau of Statistics. That was much higher than the 10.2 billion Australian dollars surplus projected in a Reuters poll. Elsewhere, mainland Chinese stocks were mixed, with the Shanghai composite up...
The National Treasury has given the Capital Markets Authority (CMA) powers to oversee all investment funds formally solicited from the public. In the new regulations published by the treasury, they said the move is a bid to rein in fraudulent and unregulated schemes where unsuspecting Kenyans lose billions of shillings. The regulator attributed this grey area to a proliferation of private entities, some of which ended up defrauding Kenyans of billions of shillings as currently,...
Oil prices fell on Thursday after OPEC+ agreed to keep its policy of gradually returning supply to the market at a time when coronavirus cases around the world are surging and many U.S. refiners, a key source of crude demand, remained offline. Brent crude was down by 16 cents, or 0.2%, at $71.43 a barrel by 0422 GMT, after dropping 4 cents on Wednesday. U.S. oil fell 23 cents, or 0.3%, to $68.36 a barrel, after...
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 17,042,400 shares in 1,270 deals, corresponding to a market value of KES 502,290,249.00, were traded. Compared with the previous NSE trading day (Tuesday, August 31), today’s data shows 8% decline in volume, 37% decline in turnover, and 4% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.77 trillion. In the aggregate, 44 NSE equities...
Nairobi Business Ventures (NBV) has reported a rise in the net profit for the period that ended 31st March 2021 to Kes 32.9 million from a net loss of Kes 39.4 million recorded during a similar period last year. The company achieved sharp growth in profit after restarting its trading business during the year. NBV posted KSh45.4 million in revenue at the end of March this year, compared to zero revenue a year ago when...
Shares in Asia-Pacific were mixed on Wednesday, as a private survey showed shrinking Chinese factory activity in August. Mainland Chinese stocks closed mixed as the Shanghai composite advanced 0.65% to 3,567.10 while the Shenzhen component dipped 0.1% to 14,314.09. Hong Kong’s Hang Seng index edged 0.45% higher, as of its final hour of trading. The Caixin/Markit manufacturing Purchasing Managers’ Index for August came in at 49.2 on Wednesday, below the 50 mark that separates expansion from contraction. Deutsche Bank International...
WPP Scangroup company has released its financial results for the financial year ended 31st December 2020 after a three-month- delay which was occasioned by the firm’s investigations against its former Chief Executive Officer Bharat Thakrar and the former Chief Finance Officer Satyabrata Das over gross misconduct. The Marketing and communication company reported a 22% loss in the group revenue for the year 2020 from continuing operations to Kes 2.239 Billion from Kes 2.872 Billion reported...
Oil prices recovered on Wednesday after a U.S. industry report showed crude inventories fell more than expected last week, steadying after overnight losses from the impact of Hurricane Ida on U.S. refineries. Prices rose ahead of the OPEC+ meeting at 1500 GMT where the Organization of the Petroleum Exporting Countries (OPEC), Russia and allies are expected to stick to a plan to add 400,000 barrels per day (BPD) each month through December. Brent crude futures...
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 18,564,000 shares in 1,328 deals, corresponding to a market value of KES 793,045,075.00, were traded. Compared with the previous NSE trading day (Monday, August 30), today’s data shows 111% improvement in volume, 300% improvement in turnover, and 15% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.77 trillion. In the aggregate, 48 NSE equities...
Britam Holdings has posted Kes 376.3 million net profit in six months to June, marking a recovery from the Kes 1.63 billion net loss posted in a similar period last year. The return into profits was attributed to growth in investment income and a rise in the value of shares at the Nairobi Securities Exchange (NSE). Net revenue in the financial services company rose 2.4 % to Kes 11.97 billion during the half-year period from...
I&M bank booked a 29% rise in its half-year profit to hit Kes 4.25 billion during the six months period ended 30th June 2021 from a lower Kes 3.19 billion recorded during the same period last year. The performance was largely attributed to higher operating income in the six months, which helped offset greater costs in the period. The group’s total operating income increased by 15.3 % to Kes 12.8 billion during the half-year period...
Shares in Asia-Pacific were mixed on Tuesday, as data showed slowing Chinese factory activity growth in August. In mainland China, the Shanghai composite rose 0.45% to close at 3,543.94 while the Shenzhen component shed 0.659% on the day to 14,328.38. China’s factory activity grew at a slower pace in August as compared with the previous month, data released Tuesday showed. The official manufacturing Purchasing Managers’ Index for August came in at 50.1, against July’s reading of 50.4. Meanwhile, the...
NCBA Bank has posted a 77 % rise in half-year profit to Kes 4.66 billion during the half-year period ended 30th June 2021 compared to Kes 2.6 billion recorded during the same period in 2020. The group attributed the strong financial performance to the steadily improving economic environment and early outcomes of the Group’s focus on its strategic initiatives anchored on customer experience. “We have made a concerted effort to reduce the risk in our...
Oil prices fell on Tuesday on concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output. U.S. West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.6%, to $68.80 a barrel at 0245 GMT, reversing most of Monday’s gains. Brent crude futures for October, due to expire on Tuesday, were down 46 cents, or 0.6%, at...
At the end of the first weekday of trading on the Nairobi Securities Exchange. A total of 8,787,600 shares in 1,156 deals, corresponding to a market value of KES 198,122,100.00, were traded. Compared with the previous NSE trading day (Friday, August 27), today’s data shows 18% decline in volume, 41% decline in turnover, and 10% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.82 trillion. In the aggregate, 52...
Standard Group’s performance for the 6 months period ended 30 June 2021 showed improvement with a 14% revenue increase to close at Kes. 1.6 billion compared to Kes. 1.4 billion for the same period in 2020. The media house attributed the performance to the improved operating environment with key clients gradually increasing their advertising budgets, while recently launched products have continued to increase their revenue growth. The Group’s result after tax significantly improved, closing at...
Shares in Asia-Pacific mostly rose on Monday trade, with Australian stocks recovering from an earlier slip as Covid cases in the country spike. In Japan, the Nikkei 225 advanced 0.54% to close at 27,789.29 while the Topix index gained 1.11% to 1,950.14. South Korea’s Kospi ended the trading day up 0.33% at 3,144.19. Mainland Chinese stocks were mixed on the day as the Shanghai composite rose 0.17% to 3,528.15, while the Shenzhen component dipped fractionally to 14,423.37. Hong Kong’s Hang Seng index closed 0.52%...
Jubilee Holdings has posted a profit before tax of Kes 4.5 billion for the half-year ended June 30, a 150 % jump compared to Kes 1.8 billion reported same period last year. The notable rise was pegged to the sale of a 66 % stake in its former subsidiary Jubilee General Insurance Limited to Munich-based multinational Allianz. “Our outstanding financial results in the first half of the year is evidence of the tremendous progress we’re...
Oil prices pared early gains on Monday, off more than three-week highs reached earlier in the session as a powerful hurricane ploughing through the Gulf of Mexico forced shutdowns and evacuations of hundreds of offshore crude platforms. U.S. gasoline prices rose more than 3% as power outages added to refinery closures on the Gulf coast. Brent was up 27 cents or 0.4% at $72.97 a barrel by 0337 GMT. It rose more than 11% last...
Bamburi Cement Group has posted a Kes 776 million profit for the half-year ended 30th 2021, a 7.6 % growth compared to the Kes 721 million profit recorded in a similar period last year. The cement maker attributes the growth to the recovery of the cement market against a depressing first half of 2020, impacted adversely by the COVID-19 containment measures introduced at the onset of the pandemic. Pretax Profit grew significantly to Kes 1.1...
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 10,713,800 shares in 1,278 deals, corresponding to a market value of KES 334,298,808.00, were traded. Compared with the previous NSE trading day (Thursday, August 26), today’s data shows 51% decline in volume, 50% decline in turnover, and 5% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.85 trillion. In the aggregate, 44...
Oil prices rose on Friday, on track to post big gains for the week, on worries about near term supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend. U.S. West Texas Intermediate (WTI) crude futures climbed 16 cents, or 0.2%, to $67.58 a barrel at 0111 GMT, clawing back a 1.4% loss on Thursday. WTI is headed for a weekly gain...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 21,730,000 shares in 1,341 deals, corresponding to a market value of KES 662,151,568.00, were traded. Compared with the previous NSE trading day (Wednesday, August 25), today’s data shows 96% improvement in volume, 67% improvement in turnover, and 8% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.85 trillion. In the aggregate, 47 NSE equities...
Oil fell on Thursday for the first session this week as renewed concerns about demand amid rising COVID-19 infections cut short a three-day rally and as production returned in Mexico. Brent crude was down 29 cents, or 0.4%, at $71.96 a barrel by 0649 GMT, rising 1.7% on Wednesday. U.S. oil was down 44 cents, or 0.6%, at $67.92 a barrel, after gaining 1.2% in the previous session. The U.S. Energy Information Administration (EIA) reported...
Diamond Trust Bank Kenya Ltd (DTK) has reported a 20.1% increase in Profit after tax to Kes 3.2 billion during the six months period ended 30th June 2021 compared to a profit of Kes 2.62 billion recorded during the same period in 2020. Profit before tax stood at Kes 4.9 Billion during the six months period, an 8.8% rise compared to Kes 4.48 billion recorded in 2020. The lender attributed the performance to the gradual...
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 11,073,100 shares in 1,237 deals, corresponding to a market value of KES 396,593,129.00, were traded. Compared with the previous NSE trading day (Tuesday, August 24), today’s data shows 48% improvement in volume, 32% improvement in turnover, and 5% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.85 trillion. In the aggregate, 44 NSE equities...
Asia-Pacific stocks were mixed at the close on Wednesday, as optimism continued to drive U.S. stocks, with the S&P 500 and Nasdaq reaching record highs overnight. Meanwhile, India’s benchmark index hit a record high. Hong Kong’s Hang Seng index slipped 0.13% to close at 25,693.95 after jumping earlier. Chinese tech stocks listed in Hong Kong pared morning gains, losing steam by the close after rallying Tuesday. Tencent shares rose 0.55% after jumping 3% earlier. Food...
Family Bank said it would use the funds to increase its branch network from the current 92 outlets in 37 counties, widening its presence and customer base as it also considers an initial public offering (IPO) proposal.
El Salvador has begun the installation of Bitcoin ATMs, which will allow its citizens to convert the cryptocurrency into U.S. dollars and withdraw it in cash, as part of the government’s plan to make the digital coin a legal tender. The government will install 200 of the teller machines to initially accompany its digital wallet called Chivo, a local slang term for ‘cool,’ President Nayib Bukele said on Twitter. He added that transactions will be...
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 7,475,200 shares in 1,174 deals, corresponding to a market value of KES 300,217,368.00, were traded. Compared with the previous NSE trading day (Monday, August 23), today’s data shows 64% decline in volume, 54% decline in turnover, and 2% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.86 trillion. In the aggregate, 47 NSE equities...
Standard Chartered Bank Kenya(StanChart) has reported a 50.9 % growth in net profit in the half-year period ended 30th June 2021. The performance was attributed to lower operating expenses reported in the group and higher non-interest income. The lender reported net earnings of Kes 4.8 billion in the half-year period compared to Kes 3.2 billion a year reported during the same period in 2020. Net loans to customers declined to Kes 130.3 Billion in H1,...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 12,331,800 shares in 1,479 deals, corresponding to a market value of KES 621,542,339.00, were traded. Compared with the previous NSE trading day (Tuesday, August 17), today’s data shows 47% decline in volume, 62% decline in turnover, but 2% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.83 trillion. In the aggregate, 46 NSE equities...
Shares in Asia were higher on Wednesday, with the Reserve Bank of New Zealand keeping interest rates unchanged despite expectations of a hike. In Japan, the Nikkei 225 rose 0.59% to close at 27,585.91 while the Topix index climbed 0.44% on the day to 1,923.97. Japan’s government on Tuesday decided to extend the Covid-19 state of emergency in Tokyo and other areas to Sept. 12, local news agency Kyodo News reported. Mainland Chinese stocks closed higher. The Shanghai...
TotalEnergies Kenya has reported a 50% increase in the half-year profit to Kes 1.7 billion for the period ended 30th June 2021 from Kes1.1 billion reported at the end of the first half of 2020. TotalEnergies attributed the good performance to the economic recovery witnessed in Kenya in the first half of this year, with the country gradually opening up. The company also reported an increase in sales revenue, diversified its revenue streams, and controlled...
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