Safaricom Net Earnings Rise 19.5% to KSh 74.7 Billion
Mobile phone operator Safaricom Limited has registered a 19.5 per cent to KSh 74.7 Billion for the financial year ended 31st March, 2020. This is compared to KSh 62.5 Billion [...]
Live Updates; Safaricom Full Year 2019/2020 Financial Results
Safaricom will be releasing its full-year financial results this morning for the period ending 31 March 2020. A key highlight will be the growth in revenues and growth in the [...]
Podcast; WTI Crude Futures Crash Could Reoccur in June Contracts
This week in our global markets podcast, we turn our focus on last Monday's WTI crude futures crash. As always, we join our esteemed analysts Gaurav Kashyap in Dubai and [...]
Foreign investors take out KSh 11.7 billion from NSE in Q1 2020
Nairobi Securities Exchange activity declined in the first quarter of this year with prices of shares traded falling across all counters. According to a statistical quaterly report by the Capital [...]Shoprite Hints at Possible Exit from East Africa
South Africa's retail giant, Shoprite, has hinted at a possible exit from the East African market on the grounds of unprofitability. According to the firm, its operations outside South Africa [...]
Sameer Africa Quits 50-Year Old Tyre Business
Stiff competition from other imports and lack of adequate stockpiles has forced Sameer Africa Limited Plc to close down its more than 50 years tyre business, effectively rendering 73 employees [...]AM Best issues negative rating to Kenya Re
Poor technical performance of Kenya Reinsurance Corporation (Kenya Re) in recent years, demonstrated by non-life underwriting results that have been weaker for two years running, as earned it a negative [...]Ex-CMA Boss Paul Muthaura joins ICEA LION as COO
The Board of ICEA LION General Insurance Company Limited has appointed Mr Paul Muthaura as Chief Operating Officer (COO), a newly created position with effect from 1st May, 2020. Muthaura, [...]Deloitte Recommends 3-6 Months Corporate Tax Suspension
Most businesses in Kenya are struggling to meet their financial obligations due to changes brought about by the COVID19 pandemic. Some have slashed their employees' salaries while others have laid [...]
US Oil May Contracts Crash 300% to Below $0
The West Texas Intermediate (WTI) crude May futures shocked markets in late Monday trading as they fell below $0 to lows of -$37.63 per barrel. The historic lows were due [...]CMA Issues Advisory Against Unlicensed Funds
The Capital Markets Authority(CMA) has warned investors that those dealing with unlicensed entities will not get its protection. This cautionary statement comes amid queries from the public concerning the license [...]Global Markets Weekly Review
Global markets continue to bear the brunt of COVID19 pandemic that has threatened to ground things to a halt. The week commencing 13 April and ending on Friday 17 was [...]
