The Nairobi Securities Exchange (NSE) has introduced two new market indices: the NSE 10 Share Index (N10) and the NSE Bond Index (NSE-BI). The N10 Index, which came into effect immediately, will monitor the performance of the equities market and consist of 10 prominent companies, including Safaricom Plc, Equity Group Holdings Plc, and KCB Group Plc. The NSE-BI, to be launched on October 1, 2023, will focus on the bonds market and be based on benchmark Government bonds listed on the NSE. Additionally, NSE has made alterations to the NSE 20 Share Index by replacing WPP Scan Group Plc, Nairobi…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Kenya’s private sector improved marginally in August, as output and new orders returned to expansion, according to the Stanbic Bank Kenya Purchasing Managers Index (PMI). The PMI rose to 50.6 in August, up from 45.5 in July, the first time in seven months, albeit a marginal one. Standard Bank’s economist, Christopher Legilisho, attributes this recovery to an increase in output and new orders, buoyed by greater political stability. However, he also notes that business conditions continue to be affected by rising input prices, which have led to the fastest increase in selling charges since June 2022. The PMI survey revealed…
Seiko Epson Corporation has established a new sales company, Epson Middle East FZCO (EME), to accelerate expansion in key markets including Africa, Caucasus, Central Asia, the Middle East, Moldova, Türkiye, and Ukraine. The company will be centrally managed from a regional office in Dubai, UAE. EME has set an ambitious goal to accelerate its revenue growth and footprint over the next five years by expanding its presence in the core domains of printing, scanning, and visual display solutions. Neil Colquhoun, former Vice President of CISMETA Europe BV, has been appointed as President of Epson EME after more than a decade…
Round two of the 2023/24 Football Kenya Federation Premier League (FKFPL) season kicked off on Friday, September 1st, with eight matches scheduled through Saturday. KCB and Kakamega Homeboyz, whose round one match was postponed, will make their season debuts in this round. KCB will play at home against AFC Leopards on Friday, while Homeboyz will play away against Murang’a Seal on Saturday. League leaders Nzoia Sugar will travel to play Muhoroni Youth on Friday, while Ulinzi Stars will seek to bounce back from their opening-round loss when they host defending champions Gor Mahia on Saturday. On Friday, Police FC will…
Airtel Money, a mobile money service provider, has announced that it has revised its per-transaction limit from KES 150,000 to KES 250,000. This change comes after successful engagements with the Central Bank of Kenya (CBK) and follows the recent review of daily transaction limits from KES 300,000 to KES 500,000. According to a statement from Airtel, the transaction charges for this new band will remain similar to those previously charged for transactions between KES 70,001 and KES 150,000. Airtel Money customers will now be able to make larger transactions without having to break them down into multiple smaller transactions. Anne…
Jubilee Holdings Limited has announced the payment of an interim dividend of Ksh. 2 per share, totalling Ksh. 145 million for the half-year ended June 2023. Announcing its half-year financial results under the IFRS 17 new reporting standards, Jubilee Holdings reported a half-year Profit Before Tax (PBT) of Ksh. 2.4 billion. Following the adoption of the new IFRS 17 and excluding the sale of General Insurance business to Allianz, the Group’s net earnings went down to Ksh.2.04 billion in the first six months of 2023. The new International Financial Reporting Standard (IFRS17) that came into effect in January replacing IFRS…