Foreign investor activity at the Nairobi bourse has plummeted to below 50 percent, contributing to the market weakness that has seen investor wealth drop by Sh176 billion in the three months to March. A report by the Capital Markets Authority (CMA) shows that foreigners have been withdrawing from the market, with their participation reported at […]
Tag: nairobi securities exchange
KenGen completes drilling of seven geothermal wells in Ethiopia
Electricity producer KenGen #ticker:KEGN has completed the drilling of seven geothermal wells in Ethiopia, four at the Aluto-Langano site and three at Tule Moye. In February 2019, KenGen in a consortium with Shandong Kerui Petroleum Equipment Company and Shandong Kerui Oilfield Service Group won a joint contract worth Sh7.6 billion to supply geothermal drilling services […]
Kakuzi avocado farmers earnings fall 45 percent
Avocado farmers contracted by Kakuzi #ticker:KUKZ earned Sh31.4 million from the agricultural firm in the year ended December, a 45.6 percent decline from the year before. The payout fell from Sh57.9 million, attributed to lower export quantities besides a decline in the price of the fruit in the international markets, the company says in its […]
CBK orders banks to ration scarce dollars
CBK Governor Patrick Njoroge. PHOTO | SALATON NJAU | NMG The Central Bank of Kenya (CBK) has directed commercial banks to ration dollars following a shortage of the US currency and the race to protect reserves, hitting manufacturers and general goods importers. A number of currency traders and importers say banks have imposed a daily […]
BOC records 6.5pc increase in profit
Medical and industrial gases manufacturer BOC Kenya grew its net profit 6.5 percent to Sh108.3 million in the year ended December. FILE PHOTO | NMG Medical and industrial gases manufacturer BOC Kenya grew its net profit 6.5 percent to Sh108.3 million in the year ended December, helped by higher sales. The Nairobi Securities Exchange -listed […]
State’s dividend earnings from listed companies fall by Sh27b
An employee makes notes in front of an electronic stock information screen inside the Nairobi Securities Exchange Ltd. (NSE), in Nairobi, Kenya, on Tuesday, December 8, 2015. [Riccardo Gangale, Bloomberg] The government’s income from profits and dividends in listed companies fell to Sh45 billion in the 2020/2021 financial year , a 37 per cent drop […]
Pension funds major buyers of EABL bond that raised Sh11 billion
Pension funds were among the major buyers of the corporate bond issued by East African Breweries Plc (EABL) #ticker:EABL in October last year, a move that more than doubled their investment in debt sold by private companies to Sh6.8 billion. Before the brewer raised the funds, the corporate bond market had shrunk considerably on the […]
NCBA says profits weighed down by its regional units
Losses at regional subsidiaries eroded the earnings of NCBA Group #ticker:NCBA in the year ended December when the bank relied on its Kenyan operation for 99 percent of its consolidated net income. The Kenyan business made a net profit of Sh11.7 billion in the review period while Tanzania and Uganda reported net losses of Sh1.1 […]
Budget 2022/23: Ukur Yatani’s Full Speech
Treasury CS Ukur Yatani read the Budget 2022/23 on Thursday, April 7, 2022, at the National Assembly. File Mr. Speaker, it is once again an immense privilege for me to present to this August House and to the people of the Republic of Kenya the Budget Statement that highlights the budget policies and the revenue […]
Foreigners sell Sh1.5bn stocks in first quarter on geopolitical jitters
Nairobi Securities Exchange (NSE) on the trading floor at the Exchange building in Nairobi on August 26, 2020. PHOTO | SALATON NJAU | NMG Foreign investor outflows at the Nairobi Securities Exchange (NSE) have surged 60.7 percent in the three months to March, reflecting the impact of ongoing geopolitical tensions. Data show the bourse has […]
