The second half period of 2020 has been marked with persistent bearish sentiment exacerbated by the financial performance amidst uncertainty in economic and business recovery in the pandemic era. On a year to date (YTD) basis, the NSE-20 and NASI have posted negative returns 34.2% and 22.2%, respectively. However, there have been outstanding performers that bucked the general market trend. Absa NewGold ETF (a security whose value is pegged on the value of global price of gold) is up 39.5%; Kenya Airways (+86.8%) on a buy-out fueled price rally; and Olympia Capital (+21.9%). The key index counters are all negative with the key banks (Equity, KCB and COOP) sharply lower, on average by 41% YTD while Safaricom and EABL have retreated 12.1% and 22.4% YTD, respectively.  

Also Read: Understanding Stock Market Liquidity in African Exchanges

The bearish market coupled with uncertainty around resolution of the Covid-19 pandemic, has shifted investors’ …

I have been working in the investment industry for nearly 33 years. Over that time I have made a few mistakes and have had many successes. This week one of my clients, a very successful young Kampala man, told me that whilst he had made a lot of money in business he had lost a lot of money that he had invested. He asked me what advice I would give him to help him make better investments. Based on my experience here are ten “DO´s and DON´Ts” for successful investment:

1. DON´T do it if you don´t fully understand it

If you don´t understand EXACTLY how an investment works then either you are being scammed or the person promoting the investment isn´t competent enough to trust with your money. If you are unsure about any aspect of the investment don´t do it!!!!

2. DON´T ever invest money that you may need quickly

In the Kenya Gazette of 14^th November 1944, the Governor of the Colony and Protectorate of Kenya approved a bill to make provision against Third Party risks arising out of the use of motor vehicles. This Ordinance was cited as the Motor Vehicles Insurance (Third Party Risks) Ordinance, 1944. Section 4 Subsection 1 of the Ordinance says,“Subject to the provisions of this Ordinance it shall not be lawful for any person to use, or to cause or permit any other person to use, a motor vehicle on a road unless there is in force in relation to the user of the vehicle by that person or by that other person, as the case may be, such a policy of insurance or such security in respect of third party risks as complies with the requirement of this ordinance”.

That same Ordinance is now cited as the Insurance (Motor Vehicles Third …

A new law has been signed by Nigerian President Muhammadu Buhari which goes after boosting government revenue via a raising value-added tax (VAT) rate and simultaneously supporting small businesses, Reuters revealed.

The finance bill which was signed into law on Monday will raise the VAT rates from 5 per cent to 7.5 per cent, which is arguably still the lowest in the world.

READ:Nigeria retains top spot as Africa’s largest economy

According to a 2019 BBC report, Nigeria was highlighted to face a fiscal crisis if it failed to improve its ability to collect taxes. Africa’s populous nation and biggest economy expenditure doubled and debt servicing cost grew substantially, while revenues missed their targets by 45 per cent a year since 2015.

Reuters cited that, Nigeria has been struggling with the diversification of its economy to reduce dependence on sales of crude oil, which also sustained changes in revenue, …

The U.S. Department of State gathered a group of private sector representatives to explore investment and collaborative business opportunities in Ethiopia, during the Global Entrepreneurship Week.

A week was spent by the Partnership Opportunity Delegation (POD) engaging with government leaders, private sector entities and Ethiopian entrepreneurs to understand the challenges and opportunities facing Ethiopian innovators and share expertise on how the country can better provide an enabling environment for tech and startups. The delegation included more than 15 companies representing Japan, United States and Sweden.

Also Read: Awash Bank, USAID to help small Agribusinesses in Ethiopia

The Office of Global Partnerships led the POD in exploring opportunities in various sectors of the Ethiopian economy such as digital connectivity, Fintech, creative industry and startups. From these first-hand engagements, several delegates committed to supporting Ethiopia’s economy in tangible ways through workforce development, social entrepreneurship, startup investment, exploring opportunities for telecom privatization …

Vivo Energy Kenya, the company that markets and distributes Shell-branded fuels and lubricants in Kenya has awarded a matatu driver and his conductor a brand new 32-seater matatu valued at Kshs 5.2 million as curtains close on the 10-week Weka Collabo promotional campaign.

The campaign which also saw 15 consumers being awarded with motorbikes valued at Kshs 4.5 million, sought to reward loyal customers and sensitize matatu drivers, conductors and ‘Boda Boda’ riders on Shell fuels and lubricants.

Vivo Energy operates and markets its products in countries across North, West, East and Southern Africa. The Group has a network of over 2,100 service stations in 23 countries operating under the Shell and Engen brands and exports lubricants to a number of other African countries. Its retail offering includes fuels, lubricants, card services, shops, restaurants and other non-fuel services. It provides fuels, lubricants and liquefied petroleum gas (LPG) to business customers …