Investors and analysts, during the peak of Covid-19 infections, did not expect payouts to snap back quickly to 2019 levels. Kariuki Ngari, the chief executive of Standard Chartered Bank of Kenya, says he does not need to “hold anything in excess” like in 2020 when Covid-19 disruptions convinced him to conserve cash. At the time, […]
Tag: nairobi securities exchange
Kenya Airways shareholders’ long wait for soft landing
Kenya Airways planes at Jomo Kenyatta International Airport (JKIA), Nairobi [Boniface Okendo, Standard] The classic investment philosophy is to invest in companies that are beaten down but with the hope that they will bounce back. That was the thinking of investors who between March 25, 1996 and April 1996 agreed to buy into Kenya Airways […]
Dar bourse braves Ukraine war as investor wealth rises by Sh90 billion in one month
A man stands by the bill board of the Dar es Salaam Stock Exchange (DSE) in Dar es Salaam at a past event. PHOTO | FILE Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) has remained stable during the past one month despite the ongoing war between Russia and Ukraine, which has resulted […]
Kenya Airways reinstates pay cuts as bailout is delayed
The management of Kenya’s national carrier, Kenya Airways , has commenced a series of pay cuts in order to stay afloat. The move has become imperative as the company has not received any of the bailout funds promised to it a full month after the country’s supplementary budget was announced. Kenya Airways reinstates pay cuts […]
Constructors shelve plans on rising price of building materials
Ongoing construction of the Pangani Affordable Housing Programme on January 21, 20222 The rising cost of building materials in Kenya has pushed construction costs by an average of Sh3,000 per square metre, forcing constructors to hold ongoing projects. The rising cost has been attributed to a disruption in the global market on the ongoing Russia/Ukraine […]
Carbacid earnings rise 71pc on higher sales
Carbacid Investments #ticker:CARB posted a 71.4 percent rise in net profit in the half-year ended January on increased sales of carbon dioxide in the regional market. The Nairobi Securities Exchange-listed firm made a net income of Sh360.7 million in the period compared to Sh210.4 million the previous year. Sales increased 56 percent to Sh701.6 million […]
Kakuzi packhouse and orchards bag China Export approval seal from KEPHIS
Kenyan integrated agro-business firm Kakuzi PLC has become one of the first local entities to secure approval from the Kenya Plant Health Inspectorate Service (KEPHIS), to process and prepare export-grade fresh avocados for the Chinese market. The firm has secured its KEPHIS approval following a stringent phytosanitary audit for its extensive Kakuzi farms and packhouse. […]
KCB Group courts DRC bank in expansion plan
KCB Group Chief Executive Officer Joshua Oigara. PHOTO | COURTESY The deal, the bank said, will push the regional lender’s assets towards the Ksh1.5 trillion ($13.15 billion) mark in the next financial year. Chief executive Joshua Oigara told The EastAfrican that negotiations for a potential buyout are at an advanced stage and the deal should […]
Central Bank eyes revamp of M-Akiba to improve its uptake
Central Bank Governor Patrick Njoroge. [David Gichuru, Standard] The Central Bank of Kenya (CBK) will relaunch M-Akiba in a bid to spur uptake of the retail infrastructure bond. CBK Governor Dr Patrick Njoroge said the revamped product will go live by June this year and will be more user friendly to investors. It will also […]
KQ owes aviation sector regulator Sh262 million
Kenya Airways #ticker:KQ owes the aviation authority Sh262.9 million, a new audit tabled in Parliament shows. The amount is part of the total of Sh548.4 million owed to the Kenya Civil Aviation Authority (KCAA) by various parties. The amounts claimed by the agency have been disclosed by Auditor General Nancy Gathungu in a review of […]