Author: David Indeje

Returns on Pension investments in Kenya declined by 60 per cent in 2020 due to COVID-19 pandemic, according to a report by fund managers, Zamara. Its report covering  421 schemes with a total of KSh951.8 billion assets under management shows that returns on investing dropped from 17 per cent to 7 per cent in the one year to December 31, 2020. “Over the one-year period to December 31, 2020, the median return of the participating schemes was 7.3 per cent compared to 17.1 per cent over a similar period in 2019. Performance in 2020 was negatively impacted by reduced economic…

The steady rise in crude oil prices is the latest worry for Kenya’s fiscal health according to financial markets analysts. This is besides the current inflation remains well within the central bank’s target at 5.69% in January. According to NCBA Research Team, Faith Atiti and Stephanie Kimani, crude oil has made a comeback rising above $60 a barrel for the first time in more than a year. Oil has risen by close to 13% on a year-on-year basis.  The team says the rise was a tightening of stockpiles and improving demand outlook, especially from China. “For Kenya, the increase in…

Kenya’s tax collector reported a 102.6% stellar revenue performance on Monday surpassing its January target by Ksh 3.53 billion. Kenya Revenue Authority (KRA) collected Ksh. 142 billion against a target of Ksh. 138 billion representing 6.7% growth over the same period last year.  This was the second month running that KRA posted an improved and above target performance since the outbreak of Covid-19. In December, KRA collected KSh166 billion against a target of KSh164 billion representing 3.5 per cent growth over the same period in 2019. The improved performance has been attributed to the economic recovery following the relaxation of…

Company will run the business under the Yana brand Peter Gitonga confirmed  managing Director Sameer Africa PLC ( SAMR.NR) says it will reinvest in the tyre business renouncing its earlier decision to shut the business. In its four years strategic plan (FY 2021-2024), the tyre maker says it will run the business under the Yana brand anchored on ‘both the company’s real estate portfolio and its extensive tyre industry experience’. “The Boards’ decision to return to the tyre business reverses the earlier communicated decision made on 20th April 2020, to exit from the tyre business,” the company said in a…

Land prices in Nairobi’s satellite towns witnessed sluggish growth in Q4’2020, at 0.4% Quarter Over Quarter (Q/Q) with Kiambu County being the most affected. Year Over Year (Y/Y) growth witnessed the biggest drop of 1.1% in 2020 compared to a 6.9% rise in 2019 according to Data from real estate research firm HassConsult. Kiambu Town, Ruiru and Limuru witnessed the biggest annual drops of 11.4%, 6%, and 3% respectively after years of speculative land buying activity backed by massive infrastructure upgrades. “Kiambu County has in the last decade seen the most intense development in infrastructure… attracting institutional investors such as…

BOC Kenya has delayed its takeover by Carbacid Investments by not serving its shareholders with the offer documents. Through a public notice on Friday, BOC informed its shareholders that it would not circulate the documents as planned pending the resolution of undefined issues. “This is to allow for consultations pertaining to certain issues that have risen related to the proposed transaction and which impacts the takeover documents,” BOC’s board stated. https://twitter.com/tradingroomke/status/1357551816712589313?s=20 BOC received approval from the Capital Markets Authority (CMA) to extend the time granted to serve its shareholders with the offer documents on 5th February 2021. The initial date…