Browsing: NSE

  • TransCentury Group Plc (TC)’s rights issue commenced trading on Thursday morning at the Nairobi Securities Exchange (NSE).
  • TC shareholders have until January 23, 2023 to take up 1.87 million new ordinary shares 
  • The firm is seeking to raise Sh 2 billion which will be directed towards recapitalizing the business, reducing debt and unlocking working capital.  

TransCentury Group Plc (TC) shareholders have until January 23, 2023 to take up 1.87 million new ordinary shares as rights issue commenced trading on Thursday (29th December, 2023) at the Nairobi Securities Exchange (NSE). 

The infrastructure investment firm is seeking to raise Sh 2 billion which will be applied towards recapitalizing the business, reducing debt and unlocking working capital for TC’s underlying businesses.

TC Group Chief Executive Officer Nganga Njiinu said the company has strengthened its governance structures reassuring shareholders as it strives towards profitability. 

“Our shareholders taking up their rights will be investing in

NSE market update: On Wednesday, Sep 7, investors proved their confidence in Kenya’s new president William Ruto as the Nairobi Stock Exchange (NSE) shot through the roof to record the highest single day raise in over four and a half years.

Local media confirmed the NSE market gained Sh102.6 billion describing the leap as ‘the biggest single-day jump in four-and-a-half years.’ This jump comes in the wake of settling election dust that saw the NSE stumble, fall and now, rise up again.

Sector pundits and political analysts agree that this huge gain is a clear signal of investor’s confidence in the fifth president of Kenya.

In fact, the last time the NSE scored a similar single-day gain was way back in 2018 when there was an almost mirror effect of the political situation. Back then, the NSE market had all but collapsed during the election turmoil but as soon as …

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.…

An Equity Bank branch. Equity, Kenya’s second biggest bank weathered the effects of the Covid-19 pandemic to surpass the US$ 10 billion (Ksh 1 trillion) mark in 2020.

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. …

Kenyan-based lender Family Bank Limited has officially rang the bell to mark the listing and the commencement of trading of its corporate bond at the Nairobi Securities Exchange (NSE).

The country’s Capital Markets Authority gave a nod to list the first tranche of its Medium Term Note under the Fixed Income Market Segment at the NSE after a successful offer that raised a total of US$40.6 million against a US27.8 million target, marking a subscription of 147.3 percent.

Early in June, the Authority allowed the mid-tier lender to issue an US$74.1 million multicurrency Medium Term Note (MTN) programme in tranches.

“The response that this bond has generated demonstrates the confidence the market has in the Family Bank brand despite constrained liquidity in the money market as evidenced by the tough economic environment due to the COVID-19 pandemic,” said Family Bank Chief Executive Officer Rebecca Mbithi.

“The capital raised will definitely …

Swala lists on Mauritius Stock Exchange

Bearish sentiment was the overarching theme in the Kenya equities markets, due to the effects of the Covid-19 pandemic that has made the possibility of a global recession closer to reality. On a year-to-date (YTD) basis, the NSE-20 and NASI have posted negative returns of 24.1% and 15.6%, respectively. Notable out-performers YTD are Barclays ETF Gold (+23.7% YTD), a security whose value is pegged on the value of gold (a safe haven asset), Kenya Airways (+53.7% YTD) on a recent price rally, and Uchumi Supermarkets (+6.9% YTD). All other stocks at the NSE are in the red zone YTD, save for WPP ScanGroup that is at break even.

The bearish market, the ensuing global economic recession coupled with uncertainty around resolution of the Covid-19 pandemic, has shifted investors’ risk appetite to safer assets with the price of the Barclays NewGold ETF rising by about 23.7% this year, following accumulation of…

E.A Trends

The economies of the East African region have for a long time recorded impressive growths among other African peers. They have been expanding at an average rate of 6.3 percent, with that of Rwanda expected to lead at eight percent from 7.8 percent. This growth, however, is facing one of its biggest challenges with the emergence of the Novel Coronavirus, scientifically referred to as COVID-19 as well as local challenges including political processes and the recent locust invasion. These effects are likely to cut down on any projected growth and gains made over the years. Kenya, the largest economy in the region, will most likely be hit hard with the halting of international flights and tourism. The bourse has already recorded a bear run, similar to other markets in the region. Burundi and Tanzania are preparing for elections, Kenya is seeking constitutional changes and Uganda is looking for ways to

NCBA Group PLC has listed 793.8 million shares on the Nairobi Securities Exchange following the merger of NIC Group PLC and Commercial Bank of Africa Limited (CBA) earlier this month.

The merged entity will trade as NCBA at the NSE. The previously listed entity, NIC Group’s issued and paid up share capital stood at Sh3.5 billion ($$33.77 million) (comprising 703.9 million ordinary shares of Sh5 each ($0.048).  NCBA now has a total of 1.49 billion issued shares with a par value of KES 7.45 billion (71.89 million).

NCBA Group PLC officially commenced operations on Tuesday, 1st October 2019 following approval by the Central Bank of Kenya and the National Treasury on 27 September 2019. Shareholders of both institutions had earlier, in April 2019, approved the merger.

Speaking during the bell ringing ceremony to kick of the trading of the new shares, NCBA Group Chairman James Ndegwa, noted that the …