Kenya Stocks Five-Month Rally Loses Steam on Global Risk Outlook

Kenya Stocks Five-Month Rally Loses Steam on Global Risk Outlook

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 […]

East Africa: Sameer Turns to Staff Redundancy and Sale of Property to Ease Financial Woes

East Africa: Sameer Turns to Staff Redundancy and Sale of Property to Ease Financial Woes

Troubled tyre maker Sameer Africa Plc has shed 107 jobs and put up an undisclosed property for sale to ease its biting cashflow constraints and return to profitability. The regional tyre distributor revealed through its 2020 annual report that it declared 107 positions redundant comprising management staff (75) and unionisable employees (32), translating to over […]

Safaricom Moves 3.10 Million Shares To Top The NSE

Safaricom Moves 3.10 Million Shares To Top The NSE

Kenya’s telecommunications giant, Safaricom was the top mover of the day at the Nairobi Securities Exchange (NSE) after selling 3.10 million shares with a market capitalization of 1.62 trillion shillings. Kenya Re-Insurance was the second top mover with 1.54 million shares and a market capitalization of 6.92 billion shillings followed by East Africa Breweries Limited […]