Browsing: Nairobi Securities Exchange (NSE)

East African Cables
  • East African Cables is a private limited liability company incorporated in mainland Tanzania. It manufactures extensive cables for domestic and industrial lighting and power electricity transmission.
  • The sale is subject to regulatory and shareholders’ approval.
  • Upon completion of the sale, EAC Tanzania will cease being a subsidiary of the company.

Msufini Tanzania Limited (MTL), a chlorine and sodium hydroxide manufacturer, is set to buy a majority stake in East African Cables’s Tanzanian subsidiary if regulators and stakeholders approve an agreed deal between the two firms.

East African Cables, which is listed on the Nairobi Securities Exchange, has entered into a share purchase agreement with Msufini for the sale of 16 218,000 ordinary shares at a value of Tsh10, constituting 51 per cent of the issued share capital of East African Cables (Tanzania) Limited.

East African Cables is a private limited liability company incorporated in mainland Tanzania. It manufactures extensive …

Kenyan Shilling
  • The Kenyan shilling has made a strong turnaround against the US dollar this week,
  • Last Tuesday, Kenya successfully raised $1.5 billion from its Eurobonds buyback offer initiated on February 7, reducing the chance of defaulting payment on its $2-billion-dollar debt due in June.
  • East Africa’s most robust economy plans to use the funds to repay its debut Eurobond issued in 2014.

The Kenyan shilling has made a strong turnaround against the Ubest human hair wigs for black females jordan air force 1 latex hood sac eastpak nike air jordan 1 elevate low smith and soul johnny manziel jersey jordan max aura 4 dallas cowboys slippers mens johnny manziel jersey bouncing putty egg adidas yeezy boost 350 turtle dove luvme human hair wigs jordan proto max 720 uberlube luxury lubricant S dollar this week, moving towards the most potent levels since March last year, mainly on investor confidence and increased …

Kenya’s capital markets is showing a sign of recovery this year with the Nairobi Securities Exchange (NSE) recording a gain in January, albeit minimal, as large stocks pay investors.
  • The latest Nairobi Securities Exchange monthly Barometer shows month-on-month growth comparing January this year and December last year, with prospects looking much better after a bear run last year.
  • Market capitalisation increased by 0.08 per cent in January to $9.11 billion from $9.05 billion in December 2023.
  • The NSE 20 and NSE 25 Share Index recorded increases in activity of 0.89 per cent and 1.32 per cent, respectively, while the All-Share Index experienced a 0.08 per cent increase.

Nairobi Securities Exchange showing recovery signs

Kenya’s capital market is showing a sign of recovery this year, with the Nairobi Securities Exchange (NSE) recording a gain in January, albeit minimal, as large stocks pay investors.

This is despite interest rates in advanced economies remaining high into 2024, a trend that has seen foreign investors focus on home markets, mainly the United States.

The latest NSE monthly Barometer shows month-on-month growth comparing January …

Kenyan Shilling
  • Kenyan Shilling, which has been on a free-fall against the Dollar since mid-last year, fell to a record-low of 162 to the greenback with projections it could tumble further into the year.
  • The unit has shed over 31 per cent of its value to the dollar year-to-date, as the Fed rate hikes in the US took a toll on currencies across the different markets.
  • According to Kenya National Bureau of Statistics (KNBS), the Kenyan shilling also ceded ground against the Euro, Pound Sterling and the Japanese Yen.

The Kenyan government is facing a major headache as the country’s currency continues to fall against the US Dollar and other major currencies, hitting a new low this week.

Kenyan shilling, which has been on a free-fall against the dollar since mid-last year, fell to a record-low of 162 to the greenback with projections it could tumble even further this year.

The local…

Investor Sell-Of in 2023
  • The Nairobi Securities Exchange (NSE) Share Value dropped from from US$60.3 million in September 2022 to US$33.3 million in September 2023.
  • The NSE 20 Share Index also declined from 1,718 points in September 2022 to 1,508 points recorded in September 2023.
  • Nairobi bourse hit by turbulence as investor sell off persisted in favour of other lucrative markets in the nine months to September 2023.

The Nairobi Securities Exchange took a hit in the past year losing US$26.9 million (KSh4.2 billion) in the value of shares traded to reach US$33.33 million (KSh5.2 billion).

Latest data contained in the Quarterly Gross Domestic Product Report released by Kenya National Bureau of Statistics (KNBS) shows that despite the drop, the number of shares traded recorded a rise.

The review period saw the Nairobi bourse hit by turbulence as investor sell off persisted in favour of other lucrative markets, this saw NSE ranked the worst …

The CEO of the Nairobi Securities Exchange Geoffrey Odundo
  • Kenyan water firms are seeking about $7.1 billion from the capital markets for various projects. 
  • The initiative is a liaison between the Kenya Association of Stockbrokers & Investment Banks and the Eldoret Water and Sanitation Company.
  • Traditionally, water service providers rely on tariffs, taxes, transfers, loans, bonds, and equity investments for funding.

Kenyan water firms have received the greenlight to secure fresh financing through the capital markets. Data shows that the utilities want to plug a funding shortfall of about $7.1 billion required for water projects.

The development comes following a collaboration between the Kenya Association of Stockbrokers and Investment Banks and the Eldoret Water and Sanitation Company.

KASIB and Eldoret Water and Sanitation Company partnership will establish alternative financing options through the bourse.  The deal paves the way for water companies in Kenya to explore ways of raising capital through the stock market.

Water funding shortage in Kenya

Overall, …

Kenya Airways Embraer 190 1
  • Total operating costs during the year under review increased to USD930.1 million (Ksh122.4 billion) from USD585.3 million (Ksh77.02 billion).
  • This ate into gains made in revenue as total income grew to USD887.5 million (Ksh116.8 billion), from USD533.4 million (Ksh70.2 billion).
  • African carriers are expected to post a loss of USD638 million in 2022, narrowing to a loss of USD213 million in 2023, according to IATA.

Kenya’s flag carrier-Kenya Airways has posted the worst loss ever as high operating costs wiped out gains made in revenues last year, as the aviation industry slowly picked from the impact of the Covid-19 pandemic.

The carrier’s has reported a USD290.8 million (Ksh38.26 billion) loss for the year ended December 2022, which is a dip from USD120.6 million (Ksh15.87 billion) posted in a similar period in 2021.

Total operating costs during the year under review increased to USD930.1 million (Ksh122.4 billion) from USD585.3 million (Ksh77.02 …

DSC 8493 Coop
  • The survey was conducted by interviewing over 33,000 customers of all member banks of KBA.
  • The results of the survey were released on Wednesday at a media briefing hosted by KBA, at the Sarova Stanley Hotel in Nairobi.
  • This re-affirms the bank’s position as the financial institution offering the most fulfilling customer experience in the industry, Group Managing Director & CEO Dr Gideon Muriuki said.

The Co-operative Bank of Kenya has emerged as the overall winner in the Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA).

The survey was conducted by interviewing over 33,000 customers of all member banks of KBA.

The results of the survey were released on Wednesday at a media briefing hosted by KBA, at the Sarova Stanley Hotel in Nairobi, where Co-op Bank was presented with a certificate of recognition for excelling in customer service based on the survey’s findings.

This award comes barely  …

martin.mwita Kenyas geothemal industry. KegGens Olkaria II geothermal plant
  • Public-Private Partnerships  have allowed  drilling and geothermal energy production capacity to rise.
  • Combined with hydro, these two sources contribute 65.62 percent of the total, while wind and solar account for 18.69 percent.
  • While Kenya Power has tried to revise energy prices in the country, analysts observe that expanding geothermal investments will provide the country with cheaper power for future expansion.
Kenya is the leading producer of geothermal energy in Africa and ranks seventh in the world, behind the United States, Indonesia, the Philippines, Turkey, New Zealand, and Mexico.
Ongoing investments, primarily through Public-Private Partnerships (PPPs), have allowed the country's drilling and geothermal energy production capacity to rise.
Part of this investment is the development of a 35MW Menengai geothermal project is scheduled to begin this month, according to the London-based energy company Globeleq.
Toyota Tsusho Company (TTC) has signed an engineering, procurement, and construction (EPC) contract and a long-term service
tcl
  • TransCentury Plc’s right issue is set to be reopened following approval from the Capital Markets Authority (CMA) after the initial issue failed to hit a 50 per cent threshold. 
  • Unfortunately, the rights issue performed below expectations, and as a result, CMA has invoked its powers under Section 14 of the Public Offers and Listings Regulations to allow TransCentury to reopen the issue. 
  • The rights’ issue will be open from March 20 -30 this year with additional information provided in the secondary prospectus to be issued by March 17 as the firm seeks  shareholders’ approval to enable the conversion of shareholder loans to ordinary shares as a mode of payment for rights.

TransCentury Plc’s right issue is set to be reopened following approval from the Capital Markets Authority (CMA)  after the initial issue failed to hit a 50 per cent threshold. 

TC shareholders had until January 23, 2023 to take