With overcapacity and pricing pressures weighing in on the east African cement industry, cement producers are setting their sights on the return of strong demand by 2023. In the meantime, will they prepare by taking up a stronger position, possibly through industry consolidation? By Standard Investment Bank, Kenya. The Tanzanian cement industry is expected to […]
WPP ScanGroup was the largest loser at the Nairobi Securities Exchange (NSE) on Wednesday. The company lost 43.77 percent at the price of 11.05 shillings per share. The second top loser was Longhorn Publishers with 8.16 percent at the price of 4.50 shillings per share followed by Trans-Century with a loss of 7.65 percent at […]
The top gainer of the day on Tuesday was Home Afrika with 9.09 percent at the price of 0.48 shillings per share followed by Bamburi Cement with 7.31 percent at the price of 27.90 shillings per share. ABSA Bank Kenya gained 3.77 percent at the price of 9.36 shillings per share followed by Stanbic Holding […]
The market data shows that among actively traded stocks, 27 or 47 per cent of the companies registered gains while 30 or 53 per cent posted losses. FILE PHOTO | NMG Troubled Kenya Airways leads a group of loss-making companies to emerge with the best stocks from a period when the country imposed tight coronavirus […]
Rwanda’s newest cement grinding plant is set to start commissioning at a great time. Last week Milbridge Group subsidiary Prime Cement said that its 0.6Mt/yr grinding plant in Musanze, Northern Province was preparing to start up in August 2020. This week the main local producer, Cimerwa, announced that it was setting standardised cement prices in […]
A new mega cement plant is set to be constructed in Tanzanian city of Tanga, a move that promises cutthroat competition in an industry that is already facing a myriad of challenges such as price wars, high power costs, cheap imports and counterfeits. Compensation has started for 94 residents to pave way for construction of […]
Kampala – Hima Cement Hima Cement Ltd, a subsidiary of Bamburi Cement Group and Jumia Uganda the leading e-commerce platform on Wednesday announced an exciting Partnership aimed at driving flexibility and convenience for cement customers. Customers will from 1st July 2020, access the wide selection of Hima cement solutions on Jumia, Africa’s leading e-commerce platform. […]
Giant telecommunications company, Safaricom was the top mover of the day on Tuesday at the Nairobi Securities Exchange (NSE). The telecom sold 19.23 million shares at a market capitalization of 1.08 trillion shillings. Kenya Power and Lighting Company was the second top mover of the day with 3.30 million shares with a market capitalization of […]
The responsibility of piloting a firm’s affairs and ensuring profitability often rests squarely on the shoulders of the Chief Executive Officer (CEO). Agreed, running a company is never a task that can be accomplished by just one person. But that notwithstanding, CEOs are the ones at the helm of affairs. As such, they take most […]
Kenya-based Bamburi Cement has posted a 37 per cent YoY fall in net profit in 2019. Net profit declined to KES359m (US$3.39m) from KES572m in 2018. The company attributed the decrease in profit to reduced domestic cement consumption, low prices and an inability to access the Rwandan market due to the closure of the border […]
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