Nairobi Securities Exchange trading floor. FILE PHOTO | NMG The share prices of companies linked to construction and real estate have been in the red over the past year due to slowdown in the sector’s activity in an economy that has shed jobs and seen stagnant wage growth. Bamburi Cement share has declined by 55 […]
Tag: bamburi cement
Banks and Safaricom to widen NSE dominance
Stock traders on NSE trading floor. FILE PHOTO | NMG Banks and Safaricom will make up almost the entire market capitalisation and earnings at the Nairobi Securities Exchange (NSE) over the next two years, as other sectors of Kenya’s equity market fail to keep up with their growth. Egyptian investment firm EFG Hermes Holding estimates […]
Banks top in valuation on NSE stock price rally
Stockbrokers at the Nairobi Securities Exchange. FILE PHOTO | NMG The banking stocks’ rally and issuance of additional shares have seen the segment edge out industrial, construction and services stocks in the ranking of the top 10 companies by market capitalisation at the Nairobi Securities Exchange (NSE). EABL #ticker:EABL, which was ranked the second-largest firm […]
Regional cement exports fall 68 percent
Bamburi Cement plant in Mombasa. FILE PHOTO | NMG Kenya’s cement exports to East African markets suffered a 67.9 percent slump in the first nine months of 2019, largely blamed on increased production capacity in the region amid a general economic slowdown. Data from the Kenya National Bureau of Statistics (KNBS) shows that Kenyan cement […]
Kenya’s Cement Export To Neighbours Slumps 68PC As New Entrants Spell Doom
Kenya’s cement industry now faces a bleak future, even as its export to neighbours seems to be dwindling day by day. In the first nine months of 2019, exports to East African markets suffered a 67.9 percent slump, blamed on increased production capacity in the region amid a general economic slowdown. According Kenya National Bureau […]
Cement firms trim output to 4-year low
Workers at a construction site. FILE PHOTO | NMG Shrinking exports market and low domestic consumption have hit the local cement firms, forcing them to cut production to a four-year low. Cement firms produced 5.37 million tonnes in the 11 months to November, a three percent drop from 5.54 million tonnes for 2018. The 11-month […]
Kenya’s NSE-20 share index at 10-year low amid China-U.S.trade woes
Reuters NAIROBI, Aug 7 (Reuters) – The Kenyan stock exchange’s main index dropped to a 10-year low on Wednesdayas foreign investors fled amid turmoil in global markets and profit-taking hit banking stocks, analysts said. The NSE-20 share index closed at 2,545.28 points, down from 2,552.19 a day earlier. It last was near this level on […]
EABL staff face layoffs
EABL plant at Ruaraka in Nairobi. Parent company Diageo plans to retrench more than 100 employees. FILE PHOTO | NMG London-based brewer Diageo, the parent company of East African Breweries (EABL), is set to retrench more than 100 employees working at its business support centre in Nairobi, marking one of the latest large-scale layoffs in […]
Kenya’s East African Portland Cement withdraws notice dismissing workforce
NAIROBI (Reuters) – East African Portland Cement backed away from a plan to dismiss its entire 800-strong workforce on Friday, saying it would make a further statement about restructuring the company. Kenya media reported earlier on Friday that the company had dismissed all of its workers. The Daily Nation newspaper cited an internal memo written […]
Kenya’s East African Portland Cement dismisses workforce -media
NAIROBI, Aug 9 (Reuters) – East African Portland Cement has dismissed all 800 of its workers but plans to rehire some at lower wages, Kenyan media reported on Friday. An internal memo written by acting managing director Stephen Nthei said the cement maker planned to rehire 600 of its 800 staff, but on 40 percent […]