Author: Khusoko

Centum Real Estate Limited, a subsidiary of the Nairobi Securities Exchange-listed Centum Investment Company plans to float KSh 4 billion corporate bond to finance its housing developments. The subsidiary has approved a project pipeline of 4,426 residential units, of which the first phase of 2,000 units is either under construction or pre-selling.  The three-year, zero-coupon bond will come at a discount rate on the three-year Treasury bond and a market-determined margin. The Centum subsidiary will also have a greenshoe option of taking up to KSh 2 billion more if the bond is oversubscribed. “We are keen on addressing existing gaps…

There is a raging debate on Pope Francis’s recent statement about gay people. Some postulate that the Pope endorsed homosexuality in his recent announcement and therefore, the practice should be accepted as the “new normal.” I honestly do not believe that Pope Francis meant to endorse same-sex marriage, but if he did, then he’s grossly wrong and his advice should be ignored.  I believe his statement was in the context of “gay human rights” but not the practice of homosexuality. There’s a difference between human rights and homosexuality as a concept. A leader of the stature of the Pope cannot…

Kenya’s biggest bank group KCB has been ranked position 667 globally in The Banker’s  1000 World Banks ranking for 2020. This is an improvement of  40 places from position 717 last year in the ranking which tracks the health and wealth of the global banking sector.  In 2018, KCB was ranked 809. The lender was rated number 1 in Eastern Africa and emerged in the top 10 among African banks in key parameters such as liquidity (10), growth (3), profitability (9), operational efficiency (8) and soundness (10). The survey analyzed close to 2,000 financial institutions globally, based on 2019 full-year…

The Nairobi Securities Exchange (NSE) witnessed a marginal drop in its weekly turnover as indices closed mixed during the week ending Oct 23. The NASI and NSE 25 recorded gains of 1.1% and 0.1%, respectively, while NSE 20 recorded a loss of 0.7%, taking their Year To Date (YTD) performance to losses of 15.1%, 21.6%, and 32.2%, for NASI, NSE 25 and NSE 20, respectively.  The NASI performance was driven by gains recorded by large-cap stocks, with the highest gains being recorded by Safaricom and Bamburi which were up 2.8% and 1.9%, respectively.  The gains were however weighed down by…

Airtel Africa operations registered a net profit of $88 million for the second quarter this fiscal, down 8.3% year-on-year due to higher net finance costs. Profit after tax after exceptional items grew 54.3% from the preceding quarter’s $57 million. In the review period, July-September the telco’s subscriber base across 14 African countries grew 4.4% on-quarter and stood at 116.4 million with an average revenue per user (Arpu) of $2.8, up from the preceding quarter’s $2.6. Consolidated revenue stood at $965 million, having increased 14.3% from the corresponding quarter last year. Earnings before interest, tax, depreciation, and amortization (EBITDA) were up…

Huawei Technologies on Friday said its revenue for the first nine months of 2020 grew 9.9% to 671.3 billion yuan ($95.87 billion) for its unaudited results. However, this was lower compared to last years’ 24.4% sales jump.  The company’s net profit margin in this period was 8.0%. Throughout the first three quarters of 2020, Huawei’s business results basically met expectations. As the world grapples with COVID-19, Huawei’s global supply chain is being put under intense pressure and its production and operations face significant challenges. The company continues to do its best to find solutions, survive and forge forward, and fulfill…