Struggling supermarket chain Tuskys has dropped the bid to lease its brand through a franchise after losing most of its stores due to non-payment of debt to landlords and suppliers. The retailer had received approval from the Competition Authority of Kenya (CAK) to allow various independent retailers to trade using its brand at a fee […]
Uchumi Supermarkets branch in Nairobi. FILE PHOTO | NMG Investors on Nairobi Securities Exchange (NSE)-listed Uchumi Supermarkets remain in the dark as the troubled retailer is yet to publish its financials for four years in an alarming regulatory breach. The retailer has not released its financials for the year ending June 2018 despite several extensions […]
NSE chief executive Geoffrey Odundo monitors daily trading at the Nairobi Bourse/ Investors at the Nairobi Securities Exchange (NSE) last month lost almost over Sh60 billion in paper wealth as the Evergrande Group’s crisis hit home. Data from the Nairobi bourse shows market capitalisation dropped to Sh2.78 trillion from Sh2.84 trillion the previous month. Evergrande […]
Kenya Power and Lighting Company (KPLC) was the top mover of the day with 10.43 million shares with a market capitalization of 3.34 billion shillings. Safaricom came in second with 2.10 million shares and a capitalization of 1.66 trillion shillings. Nairobi Business Ventures, WPP ScanGroup, and NCBA Group ended the day by moving 244,200, 204,800, […]
KEY POINTS Absa Bank Kenya was the second top mover of the day with 3.06 million with a market capitalization of 57.57 billion shillings. Kenya Power and Lighting, KCB Group, and Stanlib Fahari Income – REIT moved 930,400, 550,500, and 331,900 respectively. The top mover of the day at the Nairobi Securities Exchange (NSE) on […]
Naivas Supermarket is set to take over Uchumi’s city centre outlet in Nairobi and open a new store in Malindi next month, underlining its aggressive expansion plan. The first outlet will be on the Aga Khan Walk within the central business district in Nairobi, which the struggling Uchumi Supermarket previously occupied. The second premise is […]
The Nairobi Securities Exchange All-Share Index is set to halt a five-month winning streak in September after investors’ sentiments soured due to China Evergrande Group ’s crisis, and a local rally driven by growth in corporate earnings motivated investors to take out gains. So far this month investors on the bourse have lost 2.5% after […]
KEY POINTS Nairobi Business Ventures was the top gainer of the day on Thursday at the Nairobi Securities Exchange (NSE) with 6.09 percent at the price of 7.32 shillings per share. Nairobi Business Ventures was the top gainer of the day on Thursday at the Nairobi Securities Exchange (NSE) with 6.09 percent at the price […]
Shoprite has announced that it will stop operations in Uganda and Madagascar. They join Nakumat and Uchumi supermarkets that exited Uganda in the recent past. The South African-based supermarket had branches at Village mall in Bugolobi, Lugogo and Acacia mall in Kololo and Victoria mall in Entebbe. According to a report by Reuters, the South […]
KEY POINTS The top gainer of the day was BK Group with 8.05 percent at the price of 38.25 shillings per share. It was followed by Britam Holdings with 5.06 percent at the price of 8.30 shillings per share. The top gainer of the day was BK Group with 8.05 percent at the price of […]
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