Nakumatt, with 63 outlets in three countries at its peak, looked like it was too big to fall. There were no red flags that Nakumatt Supermarket was on the verge of collapse. Like the elephant on its logo, Nakumatt, with 63 outlets in three countries at its peak, looked like it was too big to […]
Car & General Chief Executive Officer Vijay Gidoomal. [Courtesy] Car & General’s shares have staged one of the biggest short-term rallies in the history of the Nairobi bourse, lifting the wealth of its shareholders by Sh1.69 billion in two weeks. The rally, which started on January 6 – a day after the firm announced the […]
Collective investment schemes raised their holdings in listed stocks by 88 percent in the third quarter of 2021, riding on gains in the share prices of blue-chip companies at the Nairobi Securities Exchange (NSE) #ticker:NSE . The value of quoted equities on the schemes’ books stood at Sh8.66 billion at the end of September, up […]
Bags full of money [Courtesy] Money stashed by Kenyans in hard currency accounts touched a record high of Sh798.7 billion in November last year, as jittery investors rushed to hedge their funds from being eroded by a weakening shilling. This was an increase of Sh84.6 billion, or 12 per cent, compared to Sh714.1 billion that […]
The Kenya Mortgage Refinance Company (KMRC) made additional drawdowns worth Sh2.8 billion on a National Treasury loan facility in 2021 for onward lending to mortgage lenders, the company has revealed. The KMRC has an existing Sh18.82 billion credit line that is being on-lent to it by the government from a financing package worth Sh30 billion […]
Diversified trading firm Car & General #ticker:CGEN increased its reliance on borrowing in the year ended September, with the company saying it is betting on improved profitability to lessen the debt burden in the coming years. The ratio of its net debt to shareholder funds, technically known as gearing ratio, rose to 93 percent in […]
Sanlam Plc has joined the list of Nairobi Securities Exchange-listed firms issuing profit warnings for the year ended December 31, 2021. In a statement, the firm’s board said the continued effects of the Covid-19 pandemic have had negative effects on the corporate and retail segments of its businesses. "We wish to report that our projected […]
The Treasury has raised a cumulative Sh62.2 billion from the auction of three bonds, taking in slightly more than its target of Sh60 billion. The government’s fiscal agent, the Central Bank of Kenya (CBK), said the re-opened 10-year bond raised Sh7.3 billion while the re-opened 20-year bond brought in Sh27.5 billion. Investors had bid Sh10.4 […]
When it comes to attractiveness for startups, Lagos leads the ranking of African cities according to data by StartupBlink. The Nigerian capital managed to outperform its direct competitors Nairobi, Cape Town and Johannesburg in 2021, a trend that is likely to continue. These scores are the exception rather than the norm though. As our chart […]
Equity Group CEO Dr James Mwangi. [Wilberforce Okwiri, Standard] In early 1994, Equity Building Society was teetering on the verge of collapse after being found to be technically insolvent by the Central Bank of Kenya (CBK) . Between 1986 and 1993, Equity grew savings by only Sh2 million and loans and advances increased by Sh5 […]
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