Fitch Affirms Kenya Rating at B+'; Outlook Negative
Fitch Ratings has affirmed Kenya Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at B+' with a Negative Outlook. According to the rating agency, this reflects Kenya's strong economic growth, macroeconomic [...]
Kenyan Bourse Hikes Dividend After Net Profit Doubles to KSh168 Million
The Nairobi Securities Exchange has reported a 109% increase in net profit for the year that ended in December 2020. Its profit after tax increased to KSh167.9 million at the [...]
CIC Insurance Posts KSh297 Million Loss in 2020
CIC Insurance Group, one of the largest insurers in East Africa, has reported a net loss of KSh297 million for the full-year period that ended on 31st December 2020, a [...]Bharat Thakrar Resigns From WPP Scan Group on Allegations of Gross Misconduct
Bharat Thakrar has stepped down from the role of CEO at WPP Scan Group, a company he founded nearly four decades ago, after he was suspended from the position in [...]Centum Issues Profit Warning After Record Half-Year Loss
Centum Investments, one of the largest investment companies in East Africa, has warned investors that its full-year net profit for the year that ends on 31st March 2021 is expected [...]Uganda's Umeme Limited Warns of up to 60% Net Profit Decline for FY 2020
Umeme Limited has issued a profit warning to shareholders, cautioning that it expects a net profit decline of up to 60% for the year ending 31 December 2020, compared to [...]
Somaliland’s Somtel Announces IPO, Priced at $100 Per Share
Somaliland's Telecom and technology service provider, Somtel, has announced an Initial Public Offering (IPO) to investors, with interested parties able to purchase a minimum of 20 shares for$100 apiece. Additionally, [...]Silicon Valley-based VC firm Flourish Ventures Opens Nairobi Office Targeting Fintech
Flourish Ventures, a Silicon Valley-based venture capital firm has opened a new office based in Nairobi as it targets to invest in startups across Africa who are building fintech solutions [...]CMA Invites IT Specialists to Develop its ICT Framework
The Capital Markets Authority (CMA), the government agency in charge of Kenya's financial markets, is seeking ICT specialists to develop its Information and Communication Technologies (ICT) framework. As Kenya develops [...]Market Report; 11 March 2021
At the end of today's trading session on the Nairobi Securities Exchange A total of 16,376,700 shares in 773 deals, corresponding to a market value of KES 690,276,715.00, were traded. [...]
House Prices Recover, After Seven Quarters of Contraction
House prices in Kenya improved by 0.22% in the 4th quarter of 2020, after seven quarters of contraction according to a report by the Kenya Bankers Association. The jump in [...]Kenya Power Records Kes 0.94 Billion Loss for FY2020
The Kenya Power and Lighting Company ( KPLC) has recorded a loss after tax of Kes.0.94 billion compared to a profit of Kes 0.26 billion in 2019. This was despite [...]
