Listed battery distributor Eveready East Africa is the most expensive stock on the Nairobi Securities Exchange (NSE) relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares traded at […]
Category: Nairobi Stock Exchange
Bamburi increases cement prices on escalating costs
Bamburi Cement Plc #ticker:BAMB is now the latest company to announce plans to increase prices of its products by between two and 10 percent effective March 10 due to higher cost of input raw materials. The move is rare in the cement industry which had suffered declining prices over the years amid price wars as […]
Kenya Airways targets 2025 for eVTOL testing
Eve Air Mobility eVTOL Kenya Airways (KQ, Nairobi Jomo Kenyatta ) aims to start testing electric vertical take-off and landing (eVTOL) aircraft from 2025 through its new subsidiary Fahari Aviation ( Nairobi Jomo Kenyatta ), according to Chief Executive Officer Allan Kilavuka. Speaking to Business Daily Africa, he said: “We are working on a future, […]
Total targets Jua Kali sector in second edition of mechanics contest
A mechanic with a spanner TotalEnergies Kenya, in partnership with Toyota Kenya, has launched the second edition of the skill-based competition for motor vehicle mechanics in the informal sector dubbed “QUARTZ Golden Spanner Competition”. The initiative aims to equip mechanics with engine oil knowledge, vehicle diagnostic and servicing skills. The program also seeks to empower […]
Safaricom inks first infrastructure deal with Ethiopia
Anwar Soussa, CEO of Safaricom Ethiopia. The firm has signed a five-year lease agreement with Ethiopia’s state-owned power utility to share fiber-optic infrastructure. PHOTO | POOL Safaricom says it has finalised preparations to launch commercial operations to provide telecom service to Ethiopians, becoming the first private and foreign entity to offer these services in the […]
Led by Safaricom CEO Peter Ndegwa, Lipa Na MPESA hits 30 million monthly active users milestone
Peter Ndegwa CEO Safaricom, speaking at a media showcase for the launch of the company’s 5G service in Kenya, March 26, 2021. According to the telco’s chief executive Peter Ndegwa, Kenya accounted for more than 30 million users out of the platform’s 51 million total active customers across the region. The CEO also noted that […]
Coca-Cola’s $8bln African IPO plan
Image used for illustrative purpose. A view of Coca-Cola bottles at the opening ceremony of a Coca-Cola factory outside of Yangon June 4, 2013. Soe Zeya Tun Coca-Cola Co, based in Atlanta, US, could quaff €7bn ($8.1bn) when it lists its African bottling operations with an initial public offering. It owns 66.5% of Coca-Cola Beverages […]
Tanzania: Dar es Salaam Stock Exchange Monthly Turnover Rises By 13 Per Cent
FOR February, the DSE bourse recorded a 12.63% hike in the turnover generated on the equities market. The turnover recorded amounts to TZS 15.74Bln ($6.84Mln) against TZS 13.98Bln ($6.08Mln) that was generated on the previous month. On the other hand, the number of shares traded declined by 45.59% from approximately 22 million shares in January […]
Kenya: NSE Joins Global Stock Exchanges to ‘Ring the Bell’ for Gender Equality
Nairobi — As the world marks the International Women’s Day, the Global Compact Network Kenya in partnership with the Nairobi Securities Exchange (NSE), United Nations (UN) Women Kenya and International Finance Cooprtation (IFC) Africa joined stock exchanges across the globe to ring the annual Bell for Gender Equality. The event Convened by NSE becomes the […]
Safaricom’s M-Pesa crosses 30 million active users in Kenya
A mobile phone user makes an M-Pesa transaction. FILE PHOTO | NMG Mobile money transfer platform M-Pesa has crossed 30 million users in Kenya as traders accepting payments through Lipa na M-Pesa doubled, cementing Safaricom’s dominance in digital transactions in the country. The giant telco’s chief executive Peter Ndegwa announced Thursday that Kenya accounted for […]