| ICDCI changes name to Centum (2008-02-21) |
| Pioneer Equity investment firm, ICDC Investments has changed its name to Centum Investment Company. The change in name is meant to distinguish it from its parastatal parent, Industrial and Commercial Development Corporation (ICDC) and also give the company opportunity to leverage on business opportunities outside Kenya. |
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| Barclays Profits rise (2008-02-21) |
| The leading Bank in the country released its year end results, posting a 9% increase in pre-tax profits to Kshs7bn from Kshs6.4bn. The Bank is the most profitable in the region and has for years enjoyed a large market share and high revenues fuelled by increase in deposits and strength of the economy. |
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| AccessKenya posts Shs127mn Profit (2008-02-21) |
| Only 6 months after listing at the bourse, Kenya’s leading ISP has delivered strong financial results, recording an increase by three fold of profits after tax to Kshs150mn, compared to Kshs47mn recorded in a similar period in 2006. |
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| KQ suspends flights to Paris (2008-02-20) |
| The company has decided to suspend its thrice-weekly flights to France following travel advisories issued by key EU countries and the US, leaving it with almost empty seats on the flights. |
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| Weekly Report(11th-15th February) (2008-02-19) |
| STOCK MARKET PERFORMANCE REPORT
As concern continues mounting on whether the Kenyan Economy will be able to shake off pressure from effects of post election violence, all eyes over the past week we’re on the negotiating team, with investors showing some signs increased levels of confidence in the market compared to the last couple of weeks.
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| Safaricom sale awaits new chief (2008-02-19) |
| The release of a time table for sale of part of Safaricom is awaiting the appointment of a new chair to the privatization commission. Plans of sale of the country’s most profitable company began last year but were hamstrung by the outcome of the disputed general elections in December. |
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| Olympia to venture into Zimbabwe (2008-02-08) |
| Olympia Capital seeks to make a gamble by entering the troubled state of Zimbabwe as part of its expansion in southern Africa. |
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| KCB Seeks Kshs5bn in Rights Issue (2008-02-08) |
| The Kenya Commercial Bank (KCB) will seek to raise Kshs5bn from a rights issue to finance regional expansion. |
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| TransCentury to sell shares at NSE (2008-02-05) |
| One of Kenya’s most private, prestigious and powerful investment firms, TransCentury, is opening its doors to outsiders through a process expected to get it listed on the Nairobi Stock Exchange. |
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| How Kenya got Comesa nod on sugar (2007-11-30) |
| Kenya agreed to sell its shares in sugar milling firms in order to secure a four-year extension from Comesa allowing it to limit imports from members of the trade bloc. The country has, since 2000 enjoyed the safeguard on sugar aimed at making the industry ready to compete against the imports. Under the extended safeguard, Kenya can limit duty-free sugar imports to 200,000 tones annually. The original safeguard was to expire in February 2008. |
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| Kenol investors to reap Kshs151m (2007-11-28) |
| Oil marketer Kenya Oil Company (Kenol) has prepared a Sh151 million special payment to its shareholders as a sweetener for them to agree to the acquisition of Kobil Petroleum Limited. |
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| Safcom offer period to spill into Jan (2007-11-24) |
| Safaricom IPO is expected to flow into January. According to media reports the transaction advisors lodged documents with the regulator Wednesday last week. it is is expected that the regulator will give the offer its approval in about two weeks time. |
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| Kengen Unveils Kshs70b plan (2007-11-23) |
| The Kenya Electricity Generating Company (Kengen) will unveil a Ksh70 billion plan expected to lift its generation capacity by 500 mega watts (MW) over the next five years. |
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| KCB launches subsidiary in Uganda (2007-11-22) |
| KCB is the latest regional financial institution to open its doors to Ugandans.
Trading as KCB Uganda Limited, the bank opened its doors to the public on Monday and signed on more than 10 accounts in the first hour. |
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| NIC rights issue over subscribed (2007-11-22) |
| The new additional 16.5 million NIC Bank shares floated during the recent successful Rights Issue start trading at the Nairobi Stock Exchange on Thursday, November 22. |
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| Safaricom to hit the market in Dec 07 (2007-11-21) |
| The much awaited Safaricom IPO may hit the market before the end of the year with the presentation of the draft information memorandum to CMA on Wednesday. Dyer and Blair, which is the lead transaction advisor for the planned listing, said yesterday through its chairman Jimnah Mbaru that the process is in an advanced stage. |
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| NSE endorses CFC Bank additional shares (2007-11-15) |
| Nairobi Stock Exchange (NSE) has authorized CFC Bank to list additional shares following its merger with Stanbic Bank Kenya. NSE Chairman, Mr Jimnah Mbaru, said the board had given CFC Bank permission to list additional 117,684,211 shares following the merger with Stanbic Kenya, a subsidiary of South Africa’s Standard Bank. |
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| NSE says yes to Shs5bn Barclays bond (2007-11-15) |
| The Nairobi Stock Exchange on Wednesday allowed Barclays Bank of Kenya to list a Sh5 billion bond at the bourse making it the first bank in the country to borrow from the public to finance its operations. The board also approved listing of a similar paper worth Sh600 million to be issued by Sasini, and the listing of 117.6 million additional shares by CFC Bank. |
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| Global Investor buys 24.9% of Equity (2007-11-15) |
| Equity Bank on Wednesday announced it was ceding a quarter of its shareholding to an international investor. |
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| CFC/Stanbic shares to be ratified (2007-11-13) |
| The Nairobi Stock Exchange (NSE) will this week approve the additional shares created from the CFC, Stanbic merger following a minority shareholders’ backing for the deal. The shareholders yesterday endorsed six key resolutions, sending the merger closer to conclusion. “Approvals for the additional shares created will be done this week,” said Jimnah Mbaru, the chairman of the NSE. |
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