Short Trading Week Hurts NSE
At the Nairobi bourse, a short trading week impacted negatively on the bourse, pulling down its performance. Total shares traded and the number of deals decreased by 27.4% and 32.6%, respectively. [...]
NSE Issues Profit Warning
The Nairobi Securities Exchange (NSE) has joined a long list of listed firms that have issued a profit warning as a slowing economy hits the performance of many firms. The [...]Curb on foreign travel, remittances boost Shilling strength
The Kenyan shilling has held steady against the US dollar over the past one week due to a combination of an easing in the monetary policy stance and increased forex [...]Safaricom in 2020; Countrywide 4G Coverage by July, New Products around Mpesa, Ethiopia Expansion
In a recent interview with Safaricom's interim CEO Michael Joseph, Global Investment Bank and Financial Services Citi revealed that the telco expects to have countrywide 4G coverage by July 2020 [...]
Banking Stocks Dominate Trading at NSE
The Banking Sector dominated the trading at the Nairobi Securities Exchange (NSE). This comes after it had shares worth KSh464 million transacted. This, therefore, accounted for 41.31% of the traded [...]Pending Bills Depress Business Activity
A huge portfolio of pending bills owed to suppliers by both the State and County Governments continue to depress the outlook of many firms in 2020. The future output sub-index [...]Dubai-based Fund Manager, Abraaj, exits Kenya
Abraaj Kenya Advisers Limited, part of The Abraaj Group- a private equity firm operating in six continents, has folded its operations in Kenya. The Dubai-based fund manager has already sent [...]Safaricom Introduces Mali, a new Investment Tool Powered by MPesa
The region's most profitable company Safaricom is introducing an investment tool dubbed Mali, which will allow MPesa users to invest as little as 100 for daily interest. Mpesa users will [...]
Police Sacco Gets Stable Credit Rating
Kenya Police Sacco Society Limited has been given a stable outlook by Global Credit Rating (GCR). The rating agency attributes the favourable ranking to the Society’s strong capital position, solid [...]Five African Exchanges Partner to Deepen Their Financial Markets
Kenya, Nigeria, Egypt, Morocco, and Mauritius have signed an agreement to form the African Stockbrokers, and Securities Dealers Association (ASSDA). The association will enable cross-border trading in Africa. The members [...]Scope Markets Officially Launches in Kenya
Scope Markets (SCFM), a licenced non-dealing online foreign exchange broker, has officially launched in Kenya. The company has been operating in Kenya since May 2019 says it has already garnered [...]IMF Sets New Conditions For Kenya's Precautionary Loan Facility
The International Monetary Fund (IMF) has disclosed new conditions for Kenya to access the $1.5 billion precautionary loan facility. In this case, East Africa's largest economy will have to conform [...]
