Losses at regional subsidiaries eroded the earnings of NCBA Group #ticker:NCBA in the year ended December when the bank relied on its Kenyan operation for 99 percent of its consolidated net income. The Kenyan business made a net profit of Sh11.7 billion in the review period while Tanzania and Uganda reported net losses of Sh1.1 […]
Tag: XNAI_NSE
JUMA: Low expenses ensure steady growth despite Covid hurdles
Nizar Juma, the Jubilee Holdings Ltd chairman. PHOTO | COURTESY Seven years ago, we took a decision to reduce our investments in the NSE and increase them in non-quoted securities and in government securities. That has paid off, and now we are solid. General insurance is becoming a commodity. Everybody with a briefcase is selling […]
KQ gets another Sh36.6bn State bailout
The Treasury will offer Kenya Airways #ticker:KQ a further Sh36.6 billion bailout in the year starting July as part of efforts to prop up the national carrier amid recovery from the Covid-19 travel slump. The allocation, contained in budget documents tabled in Parliament, comes weeks after MPs approved a Sh20 billion bailout to the airline. […]
Kenya Airways gets a Sh36.6b bailout as restructuring looms
The entrance to some of Kenya Airways’ offices in Embakasi, Nairobi. Treasury has allocated cash-strapped Kenya Airways Sh36.6 billion to help with its reorganisation. In the Budget for the upcoming 2022-23 financial year, KQ will get the money as part of government’s strategic investments in public enterprises. This brings the total amount of capital injected […]
KQ owes aviation sector regulator Sh262 million
Kenya Airways #ticker:KQ owes the aviation authority Sh262.9 million, a new audit tabled in Parliament shows. The amount is part of the total of Sh548.4 million owed to the Kenya Civil Aviation Authority (KCAA) by various parties. The amounts claimed by the agency have been disclosed by Auditor General Nancy Gathungu in a review of […]
Equity to inject Sh11bn capital into DRC unit
Equity Bank CEO James Mwangi. PHOTO | CYRIL NDEGEYA | NMG Equity Group is set to inject additional capital of $100 million (Sh11.5 billion) into its new subsidiary Equity Banque Commerciale du Congo (Equity BCDC). The funds will strengthen the subsidiary’s capital base as it seeks to scale up its lending and other banking operations […]
Foreigners sell Sh1.5bn stocks in first quarter on geopolitical jitters
Nairobi Securities Exchange (NSE) on the trading floor at the Exchange building in Nairobi on August 26, 2020. PHOTO | SALATON NJAU | NMG Foreign investor outflows at the Nairobi Securities Exchange (NSE) have surged 60.7 percent in the three months to March, reflecting the impact of ongoing geopolitical tensions. Data show the bourse has […]
Insurer Jubilee buys Coca-Cola office at Sh1.1bn
Jubilee Holdings #ticker:JUB has bought Coca-Cola East Africa’s former head office in Nairobi’s Upper Hill at a cost of Sh1.1 billion, with the insurer planning to move its headquarters to the property in September. The Nairobi Securities Exchange #ticker:NSE -listed firm will lease out part of its current address –Jubilee Insurance House on Wabera Street— […]
Kenya Re risks losing Sh8bn premiums on defaults rise
Kenya Re managing director Jadiah Mwarania. FILE PHOTO | NMG Kenya Re has disclosed that insurance companies and brokers have defaulted on Sh8.57 billion premiums, hurting the profitability of the Nairobi Securities Exchange -listed firm which has had to make provisions for the amounts receivable. The company said in its financial statement for the year […]
Equity tops banks’ shareholder returns over the past decade
If you invested Sh100,000 in shares of each of Kenya’s five largest banks at the end of 2009 and held onto the haul to date, you could have made anywhere between Sh11,000 and Sh262,000, depending on the lender you chose. Shares of large banks stocks have proven to be among the most resilient at the […]
