The Nairobi Stock Exchange is starting to dream of better days ahead as foreign investors troop back in. The bourse, which is the largest in East and Central Africa in terms of market capitalization, has seen a 64% jump in foreign investor activity over the last month. This indicates that investor confidence in the market […]
Tag: safaricom
Foreign investors pull Sh1.5 billion from Nairobi bourse
Foreign investors pulled out Sh1.48 billion from the Nairobi Securities Exchange (NSE) last month. This marks the second straight month of net-selling amid the prevailing rise in stock prices. Data from trading and corporate advisory firm AIB-AXYS Africa shows that foreigners bought shares worth Sh6.75 billion but sold others valued at Sh8.24 billion during the […]
Airtel accuses Kenyan regulator of favouring its rival
Airtel Networks Kenya has taken aim at regulator the Communications Authority of Kenya (CAK), alleging bias in favour of Airtel’s rival Safaricom. In a petition to Kenya’s parliament, Airtel has accused the CAK of ignoring market dominance by Safaricom. By the end of June Safaricom apparently claimed 64 per cent of the local market, more […]
Tribunal halts CA’s order to Safaricom in customer row
Safaricom Limited’s headquarters, Nairobi. PHOTO FILE | NMG A tribunal has suspended a Communications Authority of Kenya (CA) directive requiring Safaricom to connect calls to a customer who has been waiting for the services since 2016. Communications and Multimedia Appeals Tribunal agreed with the country’s largest telco that the customer – Homeland Group – must […]
Mdundo records over 16 million users in Q3 of 2021
The figure represents a 10 percent growth compared to the previous quarter, mainly driven by significant increase in Tanzania, Kenya and South Africa. During the period, the country had the platform’s biggest user base with over 4.1 million subscribers while Nigeria and Kenya followed closely with 3.1 and 2.6 million respectively. According to a statement […]
MTN Uganda offers East Africans free IPO shares
An MTN stand at an expo. PHOTO | FILE | NMG East African investors have been offered free shares to motivate them to buy stock in telecoms firm MTN Uganda that opened its $250 million (Ush895.56 billion) initial public offering (IPO) on Monday. South Africa’s MTN Group is selling 4.47 billion shares in its Ugandan […]
Foreign investor activity at NSE rebounds to 64 percent
A stockbroker at the Nairobi Securities Exchange trading floor. FILE PHOTO | NMG Foreign investor participation at the Nairobi Securities Exchange (NSE) rebounded last month after holding below 50 percent in the two previous months, indicating renewed confidence in the market. Foreign investors’ share of traded turnover at the bourse stood at an average of […]
Size of locally listed stocks declines by 1.3 per cent
The Capital Markets Authority (CMA) has said a drop in share prices of locally listed companies saw the size of Uganda Securities Exchange (USE) decline by 1.3 per cent for the period ended September. In details contained in its Quarterly Bulletin, CMA noted that domestic market capitalisation declined from Shs4.33 trillion for the period ended […]
KenGen awarded for bolstering clean energy production
Kenya Electricity Generating Company PLC (KenGen) has been recognized for leading the Eastern Africa region in clean energy production. The power producer was granted honorary recognition in the 2021 Climate Action Awards East Africa, a competition that shines a spotlight on people and organizations with groundbreaking innovations and ideas to mitigate the effects of climate […]
Safaricom sponsors Maxine Wahome with an additional Ksh. 2 Million
Safaricom has announced an extension of their sponsorship for female rally star Maxine Wahome with an additional Ksh. 2 million. The sponsorship amount will cater for the remaining rounds of the Kenya National Rally Championship (KNRC) and autocross competitions. Maxine, popularly known as the riding queen for her prowess in the motorsport, has successfully participated […]