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 […]
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Eveready East Africa most expensive stock on the Nairobi Securities Exchange
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 […]
Led by Safaricom CEO Peter Ndegwa, Lipa Na MPESA hits 30 million monthly active users milestone
Peter Ndegwa CEO Safaricom, speaking at a media showcase for the launch of the company’s 5G service in Kenya, March 26, 2021. According to the telco’s chief executive Peter Ndegwa, Kenya accounted for more than 30 million users out of the platform’s 51 million total active customers across the region. The CEO also noted that […]
Safaricom’s M-Pesa crosses 30 million active users in Kenya
A mobile phone user makes an M-Pesa transaction. FILE PHOTO | NMG Mobile money transfer platform M-Pesa has crossed 30 million users in Kenya as traders accepting payments through Lipa na M-Pesa doubled, cementing Safaricom’s dominance in digital transactions in the country. The giant telco’s chief executive Peter Ndegwa announced Thursday that Kenya accounted for […]
US flags Kenya for relaxing dirty cash reporting rule
Before 2021, the Central Bank of Kenya (CBK) required commercial banks to record and report all transactions above Sh1 million (approximately $10,000). Kenyan officials handling money-laundering investigation files are tipping account holders of suspicious transactions to move their assets before raids, hampering the fight against money launderers. A new US report tracking the global money-laundering […]
Banks’ reserve cash at CBK hits a record Sh268b
Central Bank of Kenya (CBK) building, Nairobi [Courtesy] Money that banks sets aside to cushion themselves against a run by depositors rose to a record Sh268.1 billion in December last year. This was a jump of 13.5 per cent compared to Sh236.2 billion in December 2020, according to data from the Central Bank of Kenya […]
KCB to lend Sh5bn in first big green loan financing
KCB Bank #ticker:KCB will extend Sh5 billion loan facility to an infrastructural sector firm in the country, being the first company to receive the green funds. In 2020, the lender received accreditation from the United Nations Green Climate Fund (GCF) for on-lending to investments and projects with a positive impact on the environment such as […]
Kenya’s ‘financial imperialism’ and curious lights from Kigali
A KCB banking hall in Rwanda. Many Kenyans may not have heard of Gisenyi, the Rwandan town on the DR Congo border. The one across in DRC is Goma — now everybody has heard of it, if only for its volcano eruptions. The border point between the two countries, on the Rwandan side, is called […]
Kenya: 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 market capitalisation fell to Sh2.49 trillion on Tuesday from Sh2.56 trillion at the beginning of the trading week. Safaricom […]
Eveready East Africa most expensive stock on the Nairobi Securities Exchange
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 […]