The revelation that 97 percent of stock trading accounts have been dormant for years should spur regulators and other stakeholders in the capital markets into action. It speaks to widespread investor apathy that comes on the back of disappointing returns, a major part of which can be traced to poor corporate governance among some Nairobi […]
Technology adeptness has come at a price for workers as more jobs are taken up by machines. [Courtesy] Technology continues to revolutionalise the workplace, with companies becoming more efficient and effective. But this adeptness has come at a price for workers more jobs are taken up by machines. For instance, agricultural firm Sasini in its […]
British American Tobacco (BAT) office in Nairobi. British American Tobacco (BAT) Kenya has proposed to pay its shareholders a dividend of Ksh50 ($0.44) per share after its net profit surged by 18 percent for the year ended December 31, 2021. PHOTO | FILE Net profit increased to Ksh6.48 billion ($57.34 million) from Ksh5.51 billion ($48.76 […]
New KCC has initiated talks with the Azim Milk Company of Oman in a deal that would see Kenya’s milk export increase by Sh100 million per annum. The deal is to supply lactose-free milk to Oman for an initial five years. Kenyan exports to United Arab Emirates (UAE) are worth Sh34.1 billion ($300 million) while […]
Centum Investment Company #ticker:CTUM has been spared from compensating the buyer of its Coca-Cola bottling businesses Sh3.7 billion after the Supreme Court stopped the Kenya Revenue Authority (KRA) from demanding the billions. The company in 2019, sold its 27.6 percent stake in Nairobi Bottlers and 53.9 percent interest in Almasi Beverages — the owner of […]
Securities trader Mbuthia Irungu at Nairobi Securities Exchange (NSE) trading floor at the Exchange building in Nairobi on August 26, 2020. PHOTO | SALATON NJAU | NMG Nearly 97 percent of equities accounts used for trading at the Nairobi Securities Exchange (NSE) have been dormant in the past two years, revealing the apathy among retail […]
Market watch at EABL National Stock Exchange (NSE) [David Gichuru, Standard] Investors at the Nairobi Securities Exchange (NSE) will now be able to borrow, lend and trade shares among themselves. This follows approval by the Capital Markets Authority (CMA) of a securities lending and borrowing (SLB) solution developed by the Central Depository and Settlement Corporation […]
According to the Communications Authority of Kenya’s first quarter sector report for the financial year 2021/2022, Safaricom controls a 64.6% market share The report indicated Airtel was second with 26.5% mobile subscriptions followed by Telkom Kenya (6.4%) and Equitel (2.3%) Safaricom shareholders comprise the government of Kenya (35%), Vodacom (35%), Vodafone (5%) and free float […]
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 […]
The decline of big names such as Uchumi, Kenya Airways, East African Cables, East African Portland Cement and Mumias Sugar was the first sign of struggle in corporate Kenya. [File, Standard] An increase in the number of financially crippled corporates is the new headache for banks, with some lenders in court battles to recover billions […]
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