Browsing: Kapchorua Tea

Nairobi Securities Exchange investor sell-off in 2023
  • In 2023, a significant investor sell-off led to a $15.5 million (KSh4.2 billion) decline in the Kenya stock market.
  • During the review period, Safaricom’s market valuation declined, attributed in part to prolonged and price-agnostic portfolio outflows by foreign investors in favor of dollar-denominated assets.
  • Utility Umeme Limited recorded the highest valuation gains throughout 2023, registering an impressive 115.6 percent return.

Nairobi Securities Exchange-listed firms, including Safaricom PLC, British American Tobacco (BAT), and Cooperative Bank, emerged among the top counters experiencing the highest investor sell-off in 2023, a new trading report reveals.

Over the past year, a consistent trend of investor flight led to the Nairobi Securities Exchange (NSE) witnessing a drop of $15.5 million (KSh4.2 billion) in the value of shares traded on the bourse

The 2024 outlook report by AIB-AXYS Africa Investment indicates that despite some firms, such as Safaricom, recording improvements in share prices towards the end …

Kenya's tea sector
  • Kapchorua Tea Kenya saw an 87 per cent increase in net profit for the half-year period, reaching $1.4 million compared to $762,240 in the same period last year.
  • Similarly, Williamson Tea Kenya posted a 93 percent increase in net profit during the same period, reaching $3.1 million compared to $1.6 million in the previous year.
  • Management attributes this growth to cost containment, the use of modern technology, and a weakening shilling.

Kenya’s tea sector is experiencing a recovery, with two tea exporting companies reporting significant increases in net profit for the six months ending September 30, 2023 following strong earnings due to weakening currency.

Both Kapchorua Tea and Williamson Tea, which are listed on the Nairobi Securities Exchange, recorded profit increases of over 80 per cent in the period, attributed to a rise in demand.

Kenya’s tea sector players post huge profit gains

Kapchorua Tea Kenya saw an 87 per …