Listed battery distributor Eveready East Africa #ticker:EVRD is the most expensive stock on the Nairobi Securities Exchange (NSE) #ticker:NSE relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares […]
Tag: uchumi supermarket
Eveready East Africa most expensive stock on the Nairobi Securities Exchange
Listed battery distributor Eveready East Africa is the most expensive stock on the Nairobi Securities Exchange (NSE) relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares traded at […]
Ailing Uchumi Carries The Day As Top Gainer At The NSE
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 […]
Home Afrika Tops the NSE On Monday As Uchumi Leads The Losing Pack
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 […]
CMA to probe audit firm Ernst & Young on Uchumi forged books
Uchumi Supermarkets branch in Nairobi. FILE PHOTO | NMG The Capital Markets Authority (CMA) has been allowed to investigate audit firm Ernst & Young (E&Y) over claims that it helped cook Uchumi Supermarkets’ books, covering up transactions that left the retailer on its death bed. The Court of Appeal ruled that the regulator was free […]
Naivas to open stores at Greenspan, Imara malls
Supermarket chain Naivas will open two branches at Nairobi’s Greenspan Mall and Imara Shopping Mall in the next two weeks as it steps up its expansion in the country. The establishment of the outlet at Greenspan Mall, which is owned by Nairobi Securities Exchange #ticker:NSE -listed property investor ILAM Fahari I-Reit #ticker:FAHR , had been […]
The BIG lie about Kenya’s mega retailers
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 […]
Trouble as struggling, dead supermarkets owe KCC Sh764m
New KCC audit query flags possible loss of billions as processor gives no clear avenue for recovering outstanding debts. New Kenya Cooperative Creameries may not recover Sh764 million owed by several supermarkets, some of which have closed shop and others facing closure. Auditor General Nancy Gathungu has cast doubt on whether the state milk processor […]
KDF ups fight for Uchumi assets with purchase deal
Kenya Defence Forces (KDF) will forcibly acquire 3.7 acres on which Uchumi Supermarkets’ #ticker:UCHM Lang’ata branch sits, adding a fresh twist to the ownership of the prime plot that is a subject of a court suit. The National Land Commission (NLC), on behalf of KDF, is working on the papers that will convert the land […]
CMA bars ailing companies from share buybacks
The Capital Markets Authority (CMA) has barred listed firms with negative equity from rolling out share buybacks, locking out cash-strapped companies from the process largely applied to correct perceived undervaluation of stock. The regulator has ruled that directors of the companies which intend to repurchase stock from the market should ensure “assets … are equal […]