Author: David Indeje

Airtel Uganda has launched its initial public offering (IPO) in a bid to raise UGX 800 billion. According to its prospectus, the operator has fixed the price per share at UGX 100 and the minimum number of shares one can purchase is 2,500, meaning that one will need at least UGX 250,000 to apply. The offer will close on 13 October and the results of the IPO will be announced on 30 October. To apply for Airtel Uganda shares, you will need to have a Securities Central Depository (SCD) account. Airtel customers with a valid Ugandan National Identity Number (NIN)…

Britam Holdings Plc made Kshs 2.38 billion in pre-tax profit for the half-year period ending June 30, 2023, but will not be paying shareholders any dividends. This is a significant increase compared to the Kshs 812 million recorded in the same six-month period ended June 30, 2022. The group said it sustained growth in gross earned premiums and fund management fees, which were up 31 per cent to Kshs 20.7 billion for the first half of 2023. Insurance services revenue also increased by 34% to Kshs 16.6 billion. In addition, the company experienced strong growth in interest, dividend, and rent…

Kenya’s E-Health Bill, 2023, one of the four crucial Bills that promote healthcare, has been approved by the Cabinet for transmission to Parliament. While meeting in Kakamega, the Cabinet approved the Primary Health Care Bill, 2023; The Digital Health Bill, 2023; The Facility Improvement Financing Bill, 2023; and The Social Health Insurance Bill, 2023. “These bills usher in a paradigm in the legal and institutional framework for healthcare in Kenya by repealing the current National Health Insurance Fund and establishing in its place the following funds: Primary Healthcare Fund; Social Health Insurance Fund; and Emergency, Chronic and Critical Illness Fund,”…

Kenya Airways PLC (KQ) has reported a 120% improvement in its operating profit for the first half of 2023, from a loss of Kshs 5 billion in 2022 to a profit of Kshs 998 million. The Group’s revenue increased by 56% to Kshs 75 billion, driven by a 43% rise in passenger numbers to 2.3 million and a higher cabin factor of 76.1%. However, the airline’s operating costs also increased by 39% to Ksh 74.1 billion. The airline’s performance was further affected by foreign exchange losses of Ksh 17 billion due to the devaluation of the Kenya shilling and the…

ILAM Fahari Real Estate Investment Trust has received regulatory approval from the Capital Markets Authority (CMA) to convert its unrestricted ILAM Fahari Income Real Estate Investment Trust (IFIR) into a restricted I-REIT. This approval follows a cautionary statement issued in March 2022, indicating that the REIT was undergoing a strategic review involving an operational restructuring of IFIR. ICEA LION Asset Management (ILAM) Chief Executive Officer, Mr Einstein Kihanda said, “The conversion to a restricted REIT will allow us to offer more specialized investment opportunities to our stakeholders, providing increased flexibility and potential for growth.” “A restricted REIT is only for…

OPPO has announced that it will be bringing its latest Reno series, the OPPO Reno 10 series, to the Kenyan market. The official launch of the device has been set for September 5, 2023. The Reno 10 series will include two variants in Kenya – the Reno 10 5G and the Reno 10 Pro 5G. The newest Reno series seeks to deliver a pro power experience to its users, ranging from powerful imaging technology, SUPERVOOCTM for fast charging, powerful performance, and design. With the introduction of the Reno10 series, OPPO seeks to revolutionize portrait photography for mobile phone users with…