The capital markets regulator on Monday allowed Dr Christopher J Kirubi to acquire up to 49.99 per cent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders. The exemption, pursuant to Regulation 5(1) of the Capital Markets Authority (CMA) Takeovers & Mergers Regulations, 2002, will see Kirubi […]
Category: Markets
Nairobi Stock Exchange halts trading as share prices collapse on coronavirus Scare
Trading on the Nairobi Securities Exchange (NSE) was yesterday suspended towards the close of the market as panicky investors made indiscriminate sale of shares. Total market capitalisation dropped by Sh120 billion ($1.2bn) – one of the largest declines in a single day in the history of the bourse. The value of all stocks closed at […]
Uganda Stock Exchange dips as Investors Hold Back
Trading on the Uganda Securities Exchange (USE) have hit an all-time low recording a paltry Ush1.89 million ($504) in Thursday’s trading from only 10,700 shares. Thursday’s trading represented a minimal improvement from Wednesday’s Ush1.2 million ($320) in a situation exacerbated by the coronavirus pandemic that sent global markets into turmoil. The trades value plunged 60.7 […]
Kenyan bourse trading driven by local investors
Turnover at the Nairobi Securities Exchange (NSE) surged on Monday, boosted by increased trading of energy sector stocks by local investors. Turnover stood at 9.5 million U.S. dollars on a volume of 46 million shares, from 31 million shares worth 7.2 billion dollars of Friday last week. Oil marketer KenolKobil traded 32 million shares to […]
Nigeria: Securities Commission set up Investors Protection Fund
The Securities and Exchange Commission (SEC), has leveraged further investors’ confidence and mitigation of losses on the nation’s bourse with the inauguration of a National Investors Protection Fund (NIPF). The quasi investors’ insurance scheme worth, N5 billion, would serve as a buffer for compensating investors for pecuniary losses, liquidation, insolvency, bankruptcy or negligence of non-broker/dealer […]
Tanzania: DSE slows down for Xmas
The week-on-week turnover at the Dar es Salaam Stock Exchange (DSE) dropped by 67 per cent last week as investors shift their attention to the festive season. The turnover dropped to Sh12.7 billion during the week ending December 18, 2015 compared with Sh38.91 billion that was registered during the week ending December 11, 2015, market […]
Zimbabwe: Willdale returns to profitability on the back of volume increases and better cost management
Cost management initiatives undertaken during the year resulted in a 22 percent decline in average production costs. WILLDALE’s after tax profit for the year ended 30 September 2015 grew by 77% to $214 086 from a loss position of $931 011 in prior year and the group says it is now positioned to sustain profitability […]
Ghana: Despite poor performing banking stocks in 2015, Analysts remain optimistic for 2016
Stock market analysts are projecting that banking stocks on the Ghana Stock Exchange (GSE) will perform better next year (2016) than they did this year (2015). All the banking stocks on the stock exchange with the exception of the Trust bank of Gambia recorded declines in their share prices this year as compared to 2014. […]
Zimbabwe stock Pelhams suspended from trading on stock exchange ahead of company liquidation
PELHAMS Limited has applied for voluntary suspension in the trading of its shares with immediate effect having failed to meet its debt obligations. According to a statement from the Zimbabwe Stock Exchange (ZSE) the company notified the bourse on 24 November 2015. “Pelhams Limited wishes to advise all Shareholders that the Company has applied for […]
Nigeria: Stock Exchange returns go down after Central Bank drops rates
Returns on equity investments on the Nigerian Stock Exchange, NSE, nosedived further in the outgone week by 1.81 per cent, as investors and other financial stakeholders wait for the nation’s fiscal policies. The Central Bank of Nigeria in the outgone week reduced the Monetary Policy Rate to 11 per cent from 13 per cent while […]