NAIROBI–( BUSINESS WIRE )– Western Union , a global leader in cross-border, cross-currency money movement and payments, is collaborating with major financial institutions in Africa, to enable millions of consumers to send and receive cross-border payments , quickly and reliably, 24/7. “Customers, globally and in Africa, want flexibility and trust in their cross-border money transfers […]
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Half of Nairobi bourse firms fail to recover from Covid
Nairobi Securities Exchange trading floor. PHOTO | NMG Firms that have made positive corporate moves in the stock market such as bonus issuances and buyouts like Nairobi Business Ventures (NBV) have also recorded higher gains relative to peers. But investors have punished top firms viewed to struggle under effects of Covid-19, including East Africa Breweries […]
Sh13bn bad loan provision cuts lift bank profits
Kenya’s top nine listed banks slashed their provisions for loan defaults by a third in six months to June, defying Covid-19 hardships to raise their combined net earnings 72.5 percent to Sh66.5 billion. KCB #ticker:KCB, Equity #ticker:EQTY, Co-op Bank #ticker:COOP, I&M #ticker:I&M, Absa Bank Kenya #ticker:ABSA, NCBA #ticker:NCBA, Standard Chartered Bank Kenya #ticker:SCBK, DTB #ticker:DTK, […]
Nairobi Securities Exchange suffers biggest daily loss since May
Investors on the Nairobi Securities Exchange (NSE) Wednesday lost about Sh54 billion in paper wealth, the biggest single-day decline in four months, hit by a slump in the share price of market driver Safaricom . Data showed that the NSE’s market capitalisation fell by Sh53.8 billion to stand at Sh2.776 trillion Wednesday the largest margin […]
Foreign investors record Sh242m net inflows at bourse
A stockbroker at the Nairobi Securities Exchange trading floor. FILE PHOTO | NMG Foreign investors at the Nairobi Securities Exchange (NSE) recorded net inflows of Sh242.3 million last week, reversing the previous week’s net outflows of Sh208.5 million as they bulked up on Safaricom and large banks’ shares. Their buying activity, combined with higher participation […]
NSE suffers biggest daily loss since May
Nairobi Securities Exchange trading floor. PHOTO | NMG Investors on the Nairobi Securities Exchange (NSE) Wednesday lost about Sh54 billion in paper wealth, the biggest single-day decline in four months, hit by a slump in the share price of market driver Safaricom . Data showed that the NSE’s market capitalisation fell by Sh53.8 billion to […]
Top 5 Gainers, Losers, And Movers At The NSE On Thursday
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 […]
KQ eyes Treasury signal for new turnaround plan
A proposed new turnaround strategy for Kenya Airways is awaiting approval by the Treasury even as the airline hopes for improved fortunes in the medium term. The plan submitted by UK consultancy firm Steer Group last month suggests the most viable options of revamping the airline in the face of deepening financial losses and depressed […]
Eveready East Africa Ends The Week As Top Gainer Of The Day
KEY POINTS The top gainer of the day was Eveready East Africa with 8.25 percent at the price of 1.05 shillings per share. Jubilee Holdings gained 5.36 percent at the price of 368.75 shillings per share. The top gainer of the day was Eveready East Africa with 8.25 percent at the price of 1.05 shillings […]
Stanbic dominates as bancassurance sees 2nd quarter growth
The Insurance Regulatory Authority (IRA) of Uganda, has published industry performance for the period April-June 2021 with bancassurance recording a 54% growth dominated by Stanbic Bank which consolidated its market share to 21.2% from 19.1 between January and March. This was followed by Absa Bank with 17.7%, Centenary Bank 7.7%, dfcu Bank 6.2%, Orient Bank […]