Safaricom #ticker:SCOM net profit for the six months through September this year jumped 14.4 percent to Sh35.65 billion on strong M-Pesa and mobile data revenue growth that offset a decline in voice and messaging (SMS) revenues. This has set the telco on a course for the eighth straight year of increasing bottom-line. During the half […]
Category: Nairobi Stock Exchange
NSE nears 13-month high on banking stocks surge
A man at Nairobi Securities Exchange. FILE PHOTO | NMG Investors at the stock market have wiped out losses suffered over the last one year as share valuation rose to over 12-month highs. Market capitalisation hit Sh2.435 trillion by close of trading yesterday, a level last seen in September last year when the value of […]
Safaricom Investment Co-operative joins race for NSE
Safaricom staff attend to clients at one of their outlets in Nairobi. Safaricom Investments Sacco largely draws members from the communications company. FILE PHOTO | NMG Safaricom Investment Co-operative (SIC) has lined up to join 17 other firms at Ibuka, the Nairobi Securities Exchange (NSE) programme that aims to help companies list on the bourse. […]
Can deploying big data come to rescue of Kenya Airways?
Big data is permeating every aspect of daily commercial activity—from financial services, retail, logistics to production lines. Airlines are now having their moment of epiphany with big data. Take the case of AirAsia, one of the leading low-cost carriers (LCC) in the ASEAN region. At a recent Credit Suisse Asia Investment conference, its chief executive […]
Rwanda: Cigarette Prices Double Following Tax Revisions
Cigarette prices have doubled following the recent tax revisions, Sunday Times can exclusively reveal. The development follows a law published in the national gazette in September, detailing some of the imported products or products manufactured in Rwanda. The new law stipulates a 36 percent tax levy on a retail price of a pack of 20 […]
NCBA (NIC and CBA merger) add shares on Nairobi Stock Exchange
NCBA Group, an amalgamation of NIC Group and Commercial Bank of Africa, yesterday listed 793.8 million new shares at the Nairobi bourse, further cementing the merger. The newly entity officially began operating as one on October 1, after Central Bank of Kenya gave the green light on September 27. Given NIC Group initially had 703.9 […]
Finlays to close two flower farms
A worker at Finlays in Naivasha packs flowers for sale on February 10, 2015. The firm will close two farms due to high cost of doing business. PHOTO | FILE | NATION MEDIA GROUP Multinational flower firm Finlays will close its two farms by December 25 due to the increasing cost of doing business. In […]
Kenya: KCB Lists New Shares On the NSE in NBK Kenya Take-Over
Nairobi — KCB Group Plc has listed an additional 142,979,717 shares at the Nairobi Securities Exchange (NSE) following the successful acquisition of the National Bank of Kenya (NBK). Effectively, NBK shareholders who swapped their shares for those of KCB will now be able to freely trade the new stocks at the bourse. KCB got consent […]
Kenya: Qatar Airways Increases Mombasa Flights to Five
Qatar Airways is set to increase its flights between Mombasa and Doha in December, stepping up competition for struggling national carrier Kenya Airways. The Middle East carrier, which operates three daily flights to Nairobi’s Jomo Kenyatta International Airport, said they would be flying to Mombasa five times a week, up from four. The additional flight […]
From barter to cash: How East Africa’s currencies have evolved
Central Bank of Kenya Governor Patrick Njoroge displays new notes at his office in Nairobi on June 3, 2019. PHOTO | FILE | NATION MEDIA GROUP The silver coin, originally minted in Austria, was introduced to supplement grain and livestock — then commonly used as the medium of trade. Cowrie shells, which were also acceptable […]