US Dollar, Bitcoin Surge after Trump’s Victory
The US Dollar strengthened to a near 1- year high on Wednesday with markets pricing in Donald J Trump’s victory in the 2024 elections. The Euro slid to a 4-month [...]
Naivas' Full Year Profits Decline by 19.6% to KSh 1.9 billion
Naivas posted a KSh 1.9 billion in profit after tax for the year ended June 2024 a 19.6% decrease from KSh 2.3 billion reported in the same period in [...]How Lower Demand, FX Distortions, Botched Kenya’s Oil Importation Deal with the Gulf
Kenya may be forced to pay Gulf oil companies ‘contingent liabilities’ after failing to honour minimum import volumes agreed upon in a government-to-government deal signed last year, the IMF said [...]Kenya’s Stock Market Outperforms African Peers in Dollar Returns
The Nairobi Securities Exchange (NSE) registered the highest returns among African bourses in dollar terms buoyed by a stronger shilling and higher blue chip stock prices. In Kenya, the MSCI [...]Nairobi Securities Exchange Gains KSh 420bn in Investor Wealth in 2024
Investors at the Nairobi Securities Exchange (NSE) were KSh 419.5 billion richer in the 10 months to October 2024 amid renewed market confidence, especially from domestic investors, as the market [...]Regulator Approves Ramco's Bid to Solely Own Kenyan Subsidiary after Amethis' Exit
The Competition Authority of Kenya (CAK) has approved the acquisition of investment holding company Ramco Plexus by its parent company Ramco Inc. “As per the parties’ submissions, this transaction will [...]Carbacid Profits Up 3.3% Amid Controversial BOC Kenya Buyout Bid
Liquefied carbon dioxide manufacturer Carbacid Investments has posted KSh 843.3 million in profit after tax for the full year ended in July 2024 a 3.3% increase from KSh 816.0 [...]Over 270 National Bank Staff to Lose Jobs in Merger with Access Bank
Access Bank Plc will retain at least 80 per cent of National Bank of Kenya (NBK) employees for at least one year as a condition by the Competition Authority for [...]Data Regulator Orders WPP Scangroup to Pay Former CEO KSh 1.95mn
The Office of the Data Protection Commissioner (ODPC) has ordered listed marketing and communications conglomerate WPP Scangroup to pay former CEO Bharat Thakrar Ksh 1.95 mn, in the latest in [...]
Kenya Power KenGen Stocks Soar After Record Profits, Dividends
Kenya Power and Kengen have seen their price gain 49.7% and 31.1% respectively in a single day, hours after delivering stronger than expected results for the year ended June 2024. [...]KenGen’s Profits Surge 35.5% to KES 6.8 Billion
Kenya Electricity Generating Company (KenGen) has posted strong full-year results for the financial year ending June 30, 2024, with after-tax profits rising by 35.5% to KES 6.8 billion. KenGen’s gross [...]
Fitch Upgrades Ethiopia’s Credit Rating as Addis Cuts Domestic Borrowing
Fitch Ratings has upgraded Ethiopia’s credit rating, citing easing financing pressures coupled with improved macroeconomic stability. The upgrade of Ethiopia's LTLC IDR to CCC+' from CCC- reflects easing financing pressures, [...]
