Overall sentiment on African equity markets was bullish with most markets advancing this week. Once again, Zimbabwe led the pack. Its benchmark index jumped another 11.43%, while, conversely, Nigeria’s declined 1.66% over the week. West Africa BRVM – The Western Africa regional exchange confirmed its positive momentum. The Composite Index gained 1.74% in a week […]
DESPITE a change of the tide on the last trading session of the week, JATU still managed to trivially suppress the Tanzania Share Index (TSI) after the counter dropped by 23.15 per cent on a weekly basis. JATU opened the week at a price of 1,080/- then closing at 830/- on Friday 05th February 2021 […]
FBNHoldings PLC (“FBNHoldings) , Nigeria’s leading financial holdings company, has announced the appointments of Seni Adetu and Juliet Anammah as Independent Non-Executive Directors, while Otu Hughes has been appointed as a Non-Executive director. These appointments are subject to the approval of the Central Bank of Nigeria (“CBN”). Speaking on the appointments, the Group Chairman of […]
Safaricom ’s market value at the Nairobi bourse has hit a new high as demand for the telco’s stock continues to outweigh supply. The firm’s valuation at the Nairobi Securities Exchange has risen by Sh104.17 billion year to date, closing yesterday at Sh1.476 trillion. The telecommunication company’s share price closed at a new average all-time […]
Foreign investors sold more than Sh37 billion worth of equity in the country’s leading listed companies as uncertainty around Covid-19 sent jitters through the market. The latest market data indicates foreign investors sold significant shareholding in five leading listed companies – Safaricom, KCB Group, Equity Group, NCBA and East African Breweries (EABL) last year, increasing […]
East African Breweries expects its sales to recover from a COVID-19-pandemic-induced slump in its second half to June, its outgoing chief executive has said, as nations in the region relax measures to curb the spread of the virus. The brewer, which is controlled by Britain’s Diageo Plc, recorded a 3% drop in net sales for […]
•Manufacturers say the law will result in massive job losses across the alcohol value chain, from glass and carton manufacturers, bars and transporters to distributors. •Government would also suffer lower revenues because of the decline in alcohol volumes while people resort to illicit brews. Sample of alcohol bottles in a liquor shop Alcohol manufacturers will […]
KEY POINTS Bars & Establishments that heavily rely on alcohol sales will have to cut 60,000 jobs with an earning capacity of a 1.8 billion per month. Covid-19 has hit hard on businesses, not just in Kenya but around the world. Businesses have been shutting down and people have been losing jobs en masse. In […]
KBL Head of Beer Marketing Ann Joy Muhoro gives her address during the launch of Raising the bar Campaign The Kenya Breweries Limited (KBL) has extended the application deadline for bars and eateries interested in signing up to its lifeline funding. The establishments will now have up to February 12 to join the scheme which […]
KEY POINTS The top mover of the day was Safaricom Plc after selling 10.61 million shares followed by Co-operative Bank who sold 2.77 million shares. Equity Group, KCB Group, and KenGen sold 1.36 and 1.21 million. Kenya Power and Lighting Company emerged as the top gainer of the day at the Nairobi Securities Exchange (NSE) […]
The value of investments can go down in value as well as up, so you could get back less than you invest. Past performance does not necessarily indicate a financial product’s future performance. This website aims to provide information to help you make your own informed decisions. Our publications, ratings and analysis should be viewed as an additional investment resource, not as your sole source of information. This website does not provide personal advice based on your circumstances. To obtain advice tailored to your situation, please contact a professional financial adviser.