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, […]
Top Gainer The top gainer of the day at the Nairobi Securities Exchange was Uchumi Supermarket with 10.10 percent at the price of 0.22 shillings per share followed by Sasini with 7.43 percent at the price of 21.70 shillings per share. Umeme and Kakuzi gained 6.21 and 5.73 percent at the price of 6.50 and […]
KEY POINTS Uchumi Supermarket was the top loser after shedding off 9.09 percent at the price of 0.20 shillings per share followed by Sasini and Trans-Century with a loss of 5.61 and 4.31 percent at the price of 20.20 and 1.11 shillings per share. Top Gainers The top gainer of the day at the Nairobi […]
KEY POINTS The top loser of the day was Sameer Africa shed off 6.51 percent at the price of 2.44 shillings per share followed by TPS Eastern Africa (Serena) with a loss of 6.15 percent at the price of 12.20 shillings per share. Top Gainers The top gainer of the day at the Nairobi Securities […]
Technology adeptness has come at a price for workers as more jobs are taken up by machines. [Courtesy] Technology continues to revolutionalise the workplace, with companies becoming more efficient and effective. But this adeptness has come at a price for workers more jobs are taken up by machines. For instance, agricultural firm Sasini in its […]
Silas Njibwakale, the Managing Director of Kipkebe Ltd, a subsidiary of Sasini demonstrates how tea is plucked at one of the company’s tea estates. Agricultural firm Sasini has shed 2,182 jobs in the last five years on the back of mechanisation of its tea harvesting process, which has eliminated tea pickers. The latest disclosures show […]
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 […]
Agricultural firm Sasini #ticker:SASN has fully mechanised its tea harvesting, a move that has seen it eliminate the costs it used to incur to pay seasonal tea pickers. The farm automation was one of the key contributors to the company’s sharp profit jump in the year ended September, chief executive Martin Ochien’g said. “The mechanising […]
Agricultural firm Sasini #ticker:SASN grew its net income 45.5 times to Sh573.2 million in the year ended September, helped by higher sales and cost containment measures that boosted margins. The Nairobi Securities Exchange #ticker:NSE listed firm had made a net profit of Sh12.6 million the year before. Sasini declared a final dividend of Sh0.5 per […]
Agricultural companies have the worst corporate governance record among listed companies, a new report by the Capital Markets Authority (CMA) has said. The sector with six firms had the least weighted score with a rating of 55.04 percen, shining a spotlight on their compliance with the code of governance principles that sets principles such as […]
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