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Browsing: Nairobi Securities Exchange (NSE)
- 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, …
- 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 …
- 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 …
- 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.
- 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 …
- Housing demand in Kenya is estimated at 250,000 units annually.
- With a supply of only 50,000 new houses annually, there is an 80 per cent annual housing deficit.
- President William Ruto has detailed his plan to deliver 200,000 housing units annually.
Kenya has had an ambitious plan to address the housing shortage in the country, with the two past regimes placing affordable housing as one of the key priorities.
Housing demand in Kenya is estimated at 250,000 units annually. With a supply of only 50,000 new houses annually, there is an 80 per cent annual housing deficit.
The previous government led by former President Uhuru Kenyatta had an Affordable Housing Programme that had targeted to deliver at least 500,000 units by last year, but failed way below with less than 10 percent of intended units being delivered by 2022.
President William Ruto has detailed his plan to deliver 200,000 housing …
The Kenyan stock market resumed Wednesday following the general election break with a $268 million gain, as early results revealed a close contest involving Deputy President William Ruto and former Prime Minister Raila Odinga.…
Flame Tree Group (FTG) Holdings has announced a 64% increase in pre-tax profit up to KES148.4 million ($1.4 million) for the 2020 Financial year, from KES90.5 million ($900,000 USD) posted the previous year.
FTG Holdings is the diversified manufacturer and distributor of plastic tanks, cosmetics, snacks, spices and playground equipment.
According to the Nairobi Securities Exchange (NSE) listed firm, all profit ratios showed major improvements.
In a press statement issued on Thursday, April 15, the firm noted that sales increased by 20% and the gross margin grew by 39% from 34 p.p. to 39 p.p.
The company was able to cut down costs and achieve savings in all areas, following the implementation of a cost-saving plan.
However, there was an increase in depreciation costs (due to new equipment and asset revaluation from previous year), debt impairment, and finance costs (impacted by the devaluation of the Kenyan Shilling) in FY2020.
All …
The second 20 years Treasury Bond that was auctioned last week by the Central Bank of Tanzania has oversubscribed, again.
The Bank of Tanzania (BoT) was forced to close the trading session as the market gabbled up the high interest rate bond.
The bond had an attractive interest rate of 15.85 percent coupon rate was offered in the 20-year instrument held on Wednesday slightly down compared to 16.21 per cent of the session held in February this year.
The auction was meant to serve as a debt instrument that the government targeted to raise only 117bn/-, local media reported mid week. However, interest for the bond was more than anticipated with the government, through the BoT, racking in a whopping 276.86bn/- that is more than double the targeted amount.
As mentioned this is actually the second 20-year Treasury Bond to be auctioned this year and both had good response, both …
As the rest of the country shuts down all entry ports, heavily reliant on tourism, the spice Isles of Zanzibar are allowing charter flights to land but with strict conditions.
Isles authorities have permitted charter flights bringing tourists to the island to land but on condition that all persons on board enter a 14 days quarantine stay, at their own expense.
This surprising turn of events happens in the backdrop of ongoing global threat of the spread of coronavirus. Even leading sports leagues have been cancelled and regional high profile meetings are been held on conference calls.
Across Africa, the tourism industry has come to an almost complete shutdown. It is time immemorial since a disease stopped people from touring and going for holidays, at least not since the deadly World War I and II power viruses.
With most all African countries eventually succumbing to the threat and finally closing …