West African Countries to Move from French CFA Currency to Eco by 2020
Eight West African countries have agreed to stop using the CFA Franc, renaming the currency to Eco. The Monetary Union of West Africa (UEMOA) will also reduce financial ties with [...]
Kenya Shilling Strengthens Ahead of Christmas
When the forex market opened today, the Central Bank of Kenya(CBK) quoted the local unit exchanging at a mean rate of KSh 100.7118 to the US Dollar, while buying the [...]
Real People Kenya Gets Third CEO in 2 Years
Troubled Microfinance institution, Real People has appointed the third CEO in two years time. The company linked to South Africa's Real People has named Dr. Robert Lukhanda Shibutse as the [...]
Interview; Paul Muthaura's Tenure as CMA Boss Comes to an end
The board of the Capital Markets Authority (CMA) in September announced it had begun the process of identifying a suitable candidate to succeed Mr. Paul Muthaura who opted not to [...]
Banks main drivers of activity at NSE
The Banking Sector had shares worth KSh.265.9Million transacted which accounted for 54.86per cent of Thursday’s traded value. Equity Group Holdings had 2.8M shares valued at KSh.150M at between KSh.52.00 and [...]Mumias and Deacons' Share Suspension Extended
Shares of Mumias Sugar Company will not trade at the Nairobi Securities Exchange until March 2020 after the NSE trading suspension was extended by three months with effect from 27th [...]State to Survey the Trillion Shillings Co-operatives Sector
It will soon be possible to establish what acreage and value of land is owned by all co-operative societies in Kenya. The state will also be able to quantify the [...]NSE Turnover Down as Banks Dominate Activity
Market turnover retreated to KSh407 million on Wednesday from the previous session’s KSh1.2 billion. The number of shares traded stood at 13.8 million against 34 million posted on Tuesday. The [...]Sasini Group Makes KSh 337.7 Million Net Loss
Listed firm Sasini Group posted a net loss of KSh 337.7 Million for the financial year ended 31st September 2019. This is compared to a net profit of KSh 293.5 [...]Treasury Bills Undersubscribed After Rate Cap Repeal
The subscription of Treasury bills fell from 55.3% to 53.5% as liquidity tightens. The slow uptake of short-term debt instruments is also because banks are looking to lend to the [...]Safaricom Shares Boost Activity at the NSE
Boosted by the sale of Safaricom shares, turnover soared to KSh.1.29Bn from the previous session’s KSh.384M, the number of shares traded stood at 34M against 10.5M posted this Monday. Safaricom [...]Cost of Goods Rises as East Africa Faces Region-Wide Inflation
East Africa member countries face rising inflation as the year comes to an end. Kenya, Uganda, Tanzania and Rwanda saw prices of goods rise in November, as the festive season [...]
