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Why the IMF has taken away Kenya’s Emergency loan and why it matters

Bloomberg has reported that the International Monetary Fund withdrew Kenya’s access to a $1.5 billion standby loan in June. The newswire quoted IMF country representative Jan Mikkelsen who said that adjustments that were needed to meet the targets were “insufficient and follow-up discussions on the review were postponed due to …

Market opens with microscope on Banks and foreign investors

Controlling 52 percent of the market, the Banking sector started the week as the center of focus after Moody’s Investors Service downgraded three Kenyan banks – KCB Group, Equity and Co-operative following the weakening of the credit profile of the government. The downgrade was due to sizable holdings of sovereign …

Was it a suspension or a market halt; Circus of Unga group

EQUITIES The Equities market was dominated by the circus surrounding the offer to take over Unga group from minority shareholders. American firm Seaboard offered to buy the small shareholders for Sh40 a share when the shares traded at Sh29.5. Unga Group recorded a 46.15 percent gain to close the week …

Market turnover surges to Sh1.9billion during Tuesday trading

Daily market report: February 6, 2018 Equities Equities were boosted by the sale of Safaricom shares during Tuesday trading. The turnover surged Sh1.9billion from the previous session’s Sh744 million. The number of shares traded stood at 68million against 30.8million posted on Monday. Indices The NSE 20 share Index was up …