Author: David Indeje

Banks opt for short term gains Kenya’s total Public Debt rose to KSh 6.6 Trillion at the end of May The demand for shorter assets amid abundant liquidity in the market continues to drive yields lower due to the uncertainty regarding Kenya’s economic outlook. “The Treasury bills auction of July 16 received bids totaling KSh 65.2 billion against an advertised amount of KSh 24.0 billion, representing a performance of 271.5 percent. Interest rates on all the Treasury bills tenors decreased,” says the Central Bank of Kenya. During the week, 91-day paper registered the highest subscription at 746.9 percent, down from 948.1…

Artcaffé Group, a vibrant chain of Kenyan restaurants and bakeries opened its third location in Nairobi Central Business District. The lifestyle and a social hub new restaurant will be in Chester House, along Kimathi Street which has emerged as one of the busiest within the capital. The restaurant serves freshly baked artisanal bread and pastries. It also brews real Kenyan coffee, craft signature cocktails and leads the way in ‘modern casual dining in Kenya’. “Each part of the city has its own unique demographic and our restaurants reflect this through their own style, premium offers, and events calendars,” reads its…

The Central Bank should maintain the government’s inflation target range of 5.0 percent with a 2.5 percent margin on either side for the ninth straight year says Kenya’s National Treasury. Treasury serves as an advisory to the Central Bank of Kenya on Price Stability Target and Economic Policy, requires the regulator to achieve the target in the 2020/21 fiscal year to preserve macro-economic stability and reduce undesirable fluctuations in economic performance. “The flexible margin of 2.5 percent on either side is to cater for effects of external shocks such as adverse effects of the COVID-19 pandemic and oil price variations.…

Agricultural company Kapchorua Tea Kenya reported a profit of KSh19.4 million for the financial year ended 31st March 2020. This is compared to a loss of KSh125.7 million during the previous financial year. Kapchorua Tea declared a final Dividend Per Share of Ksh 10.00 (11.3% dividend yield), with book closure slated for 30 July 2020. It grows tea in Kenya and manufactures and sells tea products under the brand name Williamson Tea. Kapchorua and Williamson Tea are scheduled to hold a joint AGM on 20th August 2020. The company also has interests in forestry. Formerly known as Kapchorua Tea Company…

The Kenyan shilling closed KSh 107.35 per US dollar on Friday versus Thursday’s close 107.40.  The currency exchanged at KSh 107.35 per US dollar on July 16 compared to KSh 106.96 per US dollar on July 9 according to the Central Bank of Kenya. “The Kenya Shilling weakened against major international and regional currencies during the week ending July 16, on account of unevenly matched demand and supply of dollars in the interbank market,” said the CBK in its weekly bulletin. If the currency continues to weaken, merchandise importers will have to pay a higher price for their commodities which…

Williamson Tea Kenya (Plc) says it posted a Net Profit of KSh 137 Million for the financial year ended 31st March 2020 compared to a loss of KSh 172 Million in the same period last year. “The very large crop volumes experienced at the end of the financial year and the reduced demand pushed the price of tea down as too much supply overtook demand with he average prices falling by 12 percent,” the firm said in its audited results. According to the Nairobi Securities Exchange (NSE) listed firm, its operation costs decreased to KSh 33 million from a loss…