- Where is Joseph Kony, the Rebel who sought to destabilise Uganda
- The push and pull: oil and gas producers adamant amid the energy transition pressure
- Africa’s food crisis deepens as one billion people unable to afford healthy diet
- Dangote Refinery breaks ground, set to process one million barrels in debut
- President Ruto’s relentless efforts to boost Kenya’s agricultural productivity
- Africa will need pragmatism, not idealism, to achieve a just energy transition
- AfDB warns of $25 billion drain on Africa with new EU carbon tax
- Shareholders pressure Glencore spin off and disposal of coal business in two years
Browsing: Nairobi Securities Exchange
- Nairobi, Kenya, will be the site of the highly anticipated Annual Conference of the African Securities Exchanges Association (ASEA) from November 22nd to 24th, 2023.
- The African Securities Exchanges Association has played a pivotal role in moulding Africa’s financial scene.
- A partnership of financial firms, the African Securities Exchanges Association is a key player in Africa’s economic revival. Its ability to promote inclusive growth, knowledge sharing, and cooperation is crucial.
Nairobi, Kenya, will be the site of the highly anticipated Annual Conference of the African Securities Exchanges Association (ASEA) from November 22nd to 24th, 2023, drawing the attention of the financial community of Africa. Positioning for Growth: Unlocking Africa’s Stock Exchange Potential for Sustained Economic Development is more than simply a debate topic; it’s a rallying cry for an economic revolution that is about to happen on the African continent.
The African Securities Exchanges Conglomerate (ASEA) has played a pivotal …
- Kenya seeks to attract $10 billion in Foreign Direct Investments (FDI) in the next four years despite dwindling inflows over the past years.
- The Kenya Investment Authority has partnered with UNDP and the World Bank to develop and implement an Investment Facilitation Framework and FDI Attraction Strategy.
- The framework is aimed at creating a transparent, predictable, efficient and trusted mechanism for effective investment facilitation.
Kenya aims to attract $10 billion in Foreign Direct Investments (FDI) in the next four years despite experiencing declining investment inflows in recent years. The East African country, in collaboration with the Kenya Investment Authority, has partnered with the United Nations Development Programme (UNDP) and the World Bank to formulate and implement an Investment Facilitation Framework and FDI Attraction Strategy.
Rebecca Miano, the Cabinet Secretary (CS) for the Ministry of Investments, Trade, and Industry (MITI) in Kenya, stated that the framework seeks to establish a transparent, …
- Sasini PLC has posted 149 percent increase in net profit for the year ended 30th September 2022 to hit $8.8 million (Sh1.1 billion) compared to $4.6 million (Sh573 million) posted in the same period previous year.
- The profits are attributed to most of the business units performing exceptionally well as the main segments of Tea, Coffee and Macadamia trading surpassed expectations.
- The cost of sales, however, increased to $44 million (Sh5.54 billion) against the prior year’s $36.2 million (Sh4.49 billion) a corresponding increase of 23.3 percent.
Sasini PLC has posted a 149 percent increase in net profit for the year ended 30th September 2022 to hit $8.8 million (Sh1.1 billion) compared to $4.6 million (Sh573 million) posted in the same period previous year.
The profits are attributed to most of the business units performing exceptionally well as the main segments of Tea, Coffee and Macadamia trading surpassed expectations.
The year …
Interesting market developments encircled WPP ScanGroup in this review period. The counter’s share price has been on a rally albeit a sharp decline in its bottom line (-1,191.1% y/y) in the just-released FY20 results.
The uptick – that comes after a sequential diminution – is on the back of the exoneration of the suspended senior management that boosted investor confidence given the fact that there was no adverse effect on the counter’s financial performance, position and/or operations linked to the aforementioned. We opine that the rally will continue in the near term to 2Q21 levels as investors accumulate on the earlier exited positions.…
While others are still trying to wrap their heads around blockchains and the safety of cryptos, Africa is embracing this digital currency with both hands. So much that in Kenya, you can even buy your groceries and I mean vegetables with cryptocurrencies.
That’s right, and this is not only in urban centres like the bustling capital of Nairobi, no, no, no, but it is also in the villages, upcountry. Peasants on the Coastal towns are trading in cryptos, buying and selling. Here we are not talking of mining cryptos only but rather using the digital currency for normal day to day trade, like Is said to buy supplies.
The way it works is, the cryptocurrency, a famous one in Kenya is coined Sarafu, which has now become an accepted medium of transfer such that one can use Sarafu to trade for goods and services.
Sarafu and others like it are …
As of July 1, price for petroleum products in Tanzania increased drastically owing to the amendments outlined in the country’s new Finance Act as passed by parliament. A huge chunk of the money you pay at the pump goes to the government in taxes; in fact the government takes anything between 30 and 40 percent in form of taxes, levies and regulatory fees.
Nonetheless, Tanzania’s Energy and Water Utilities Regulatory Authority (Ewura) still attributed the price hike to global trends, in part admitting to the tax effect and in part deflecting it to global trends.…
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Equity’s operations in the DRC now constitute 28 per cent of the Group by asset size signalling the company’s positive sentiment on the future outlook of the country. By virtue of the acquisition, Equity also became the largest bank by asset size at the Nairobi Securities Exchange (NSE).
Banking penetration in the DRC ranks at the bottom of regional peers, with only 6 per cent of the population holding a bank account. This presents a great opportunity for the Equity Group to leverage on its digital platform and inclusive products to penetrate the market and generate high returns. …
The month of March marked one year after most countries globally locked up their people, introduced tough restrictions on movement and introduced ways of containing the Novel Coronavirus (Covid-19). For East Africa, this has been a tough outing with thousands sick, and millions affected economically. The countries in the region have also reacted differently, with Rwanda and Kenya being on the extreme cautious path, while Tanzania and Burundi have applied the Laissez-Faire approach.
Stocks in the region have been hit hard with the regional bourses shrinking significantly, as well as a loss in interest by foreign investors. The Nairobi Securities Exchange (NSE) seems to have been hard hit with an unprecedented bear run. According to the Capital Markets Authority (CMA) end-of-year statistical bulletin, all indices at the Nairobi bourse performed poorly, with net foreign outflow hitting KSh28.63 billion ($260.9M) compared to a net foreign inflow of KSh1.38 billion ($12.6M) in
Liquidity in the stock market can simply be defined as the ability of a market to absorb large trade volumes with minimal effect on price movement. The more liquid a market is the lower the costs of transactions, the faster new entrants experience price discovery and also serves as a big attraction for foreign investors.
However, there are various challenges observed in frontier and emerging markets with low liquidity levels. Among them include limited free-float, poorly diversified investor profiles and large portions of long-term investors. Moreover, limited awareness of the market by potential domestic investors and complex market access models have been an especially enormous challenge in Africa.
Majority of Exchanges in the continent have liquidity levels below one percent (1%), with only two Exchanges recording levels of over ten percent (10%) as at May 2020- Egypt 48% and Johannesburg (45%). These have wider pools of listed companies and relatively …
East Africa continues to draw attention due to its high growth rate. The positive growth has been projected by both national and multilateral agencies like IMF and World Bank. The growth is expected in both agricultural and manufacturing sectors with great support from the service industry. To harness the power of all this growth is a budding bourse across the region. In this issue, we focus on how the stock markets are expected to behave this year.
The Institute of Chartered Accountants in England and Wales (ICAEW) released a report at the end of 2019 which showed that East Africa’s economy is expected to continue expanding at an average of 6.3 per cent in 2020, with that of Rwanda expected to lead at eight per cent from 7.8 per cent. Kenya’s economy is expected to expand in the margins of six per cent while that of Uganda and Tanzania is…