Listed battery distributor Eveready East Africa is the most expensive stock on the Nairobi Securities Exchange (NSE) relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares traded at […]
Tag: XUGA_EABL
Keroche: How KRA’s thirst for taxes brought brewers down
A plant operator at Keroche Breweries supervises the production of Vienna Ice Strong Lager. May 2021 The decision by the Kenya Revenue Authority (KRA) to shut Naivasha-based Keroche Breweries over tax arrears of Sh323 million has brought to the fore the bruising brawl between the taxman and local brewers. KRA, whose perceived high-handedness has seen […]
Local raw material sourcing spares EABL from Russia shocks
The strategic shift to local sourcing of raw materials has spared East African Breweries Plc (EABL) #ticker:EABL from supply chain disruptions following Russia’s invasion of Ukraine. The geopolitical event has led to soaring commodity prices including those of wheat and barley which are key brewing ingredients for the alcoholic beverages produced by EABL. “A few […]
A toast to Tanzania for the fastest growth as we go into next century
Kenya Breweries Limited Managing Director Jane Karuku during interview with The EastAfrican in Nairobi on March 1, 2022. PHOTO | JEFF ANGOTE | NMG Whether it is Kenya Breweries, Serengeti Breweries or Uganda Breweries, EABL is an integral part of the society and the economy. In 2000, EABL attracted the global firm Diageo, who acquired […]
Rosier times for Kenya’s post-Covid economy despite election jitters: analysts
Economic recovery began with easing of Covid containment measures and gradual resumption of business in the past year. PHOTO | FILE | NMG Market analysts expect rising political temperatures ahead of the August general election, rising fuel prices, lower agricultural output due to potential adverse weather and the desert locust infestation in the northern parts […]
Stock market drops Sh65bn in two days
The stock market shed Sh65.6 billion in investor wealth in the first two trading sessions this week, pressured by foreign investor sales that have overshadowed the expected price rally ahead of the dividend season. The NSE’s #ticker:NSE market capitalisation fell to Sh2.49 trillion on Tuesday from Sh2.56 trillion at the beginning of the trading week. […]
Eveready East Africa most expensive stock on NSE
Listed battery distributor Eveready East Africa #ticker:EVRD is the most expensive stock on the Nairobi Securities Exchange (NSE) #ticker:NSE relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares […]
Keroche rules out sale in Sh22.7bn clash with KRA
Keroche Breweries chief executive Tabitha Karanja addresses the media on March 9, 2022, regarding the tax row with Kenya Revenue Authority (KRA). She asked the taxman to reopen the plant to stem huge losses. PHOTO | DIANA NGILA | NMG Naivasha-based Keroche Breweries’ owners have ruled out the possibility of selling the firm facing an […]
Rosier times for Kenya’s post-Covid economy despite election jitters: analysts
Economic recovery began with easing of Covid containment measures and gradual resumption of business in the past year. PHOTO | FILE | NMG Market analysts expect rising political temperatures ahead of the August general election, rising fuel prices, lower agricultural output due to potential adverse weather and the desert locust infestation in the northern parts […]
Keroche: How KRA’s thirst for taxes brought brewers down
A plant operator at Keroche Breweries supervises the production of Vienna Ice Strong Lager. May 2021 The decision by the Kenya Revenue Authority (KRA) to shut Naivasha-based Keroche Breweries over tax arrears of Sh323 million has brought to the fore the bruising brawl between the taxman and local brewers. KRA, whose perceived high-handedness has seen […]