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 …
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 …
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 …
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 …
The shilling gains against the dollar have masked its decline against other currencies which have a positive impact on Kenya’s agriculture exports to the United Kingdom and Europe. The dollar is losing ground against a basket of currency globally and Kenyan shilling exchange fell to 102 units to the dollar …
Daily Market report: February 1, 2018 Turnover declined on Thursday to Sh497million from the previous sessions Sh638million as the number of shares traded stood at 15.2million shares against 20million shares posted yesterday. The NSE 20 Share Index was up 15.22 points to stand at 3752.48. All Share Index (NASI) inched …