In Brief

In Brief
Newsroom

Tuesday’s NSE Equity market up 263 percent to Sh228 million

Equity market activity at the Nairobi Securities Exchange (NSE) saw a 263.16 percent surge in Tuesday trading closing at Kes227.59 million from Kes62.67 million on Monday, indicative of renewed investor interest in the NSE. However, despite the boost in trading activity, the benchmark indices experienced a downward trajectory. The NASI dipped by 0.16 percent, the NSE 10 declined by 0.70 percent, and the NSE 20 slipped by 0.41 percent, concluding at Kes95.39, Kes946.95, and Kes1505.47, respectively. These figures contributed to a year-to-date performance of (25.17) percent for NASI and (10.18) percent for NSE 20. Additionally, foreign investors registered net outflows of Kes76.62 million, an increase

Read More
NSE
In Brief
Newsroom

Foreign investors net sellers at NSE

Foreign investors were net sellers at the start of this week’s trading, recording net outflows of Kes3.71 million on Monday. This marked a significant contrast compared to close of trading last week when they recorded net outflows of Kes32.99 million. The change in foreign investment patterns could be indicative of their response to evolving market conditions and economic factors both locally and globally. The Nairobi Securities Exchange (NSE) saw the equities market turnover suffer significant decline of 26.13 percent. The turnover fell from Kes84.85 million to Kes62.67 million, signifying a substantial reduction in trading activity. This downturn in turnover could be attributed to various factors,

Read More
In BriefMarkets
Newsroom

When Uchumi makes cents

Uchumi Supermarkets, a retailer that has barely any operational outlet was the biggest gainer at the Nairobi Securities Exchange underlying the dearth that has hit the market, which is now being moved by speculation. The former retailer gained 9.52 percent in Monday’s trading closing the market as the top gainer with stocks valued at 23 cents. Crown Paints was the second gainer at the bourse raising 9.4 percent to trade at Kes39 while TransCentury which is currently embroiled in a winding up suit with listed lender Equity Bank closed top three with an 8 percent gain to trade at 54 cents. Market activity on Monday

Read More
In Brief
Newsroom

Sign language assistALL Mini App now on M-PESA App

Safaricom has partnered with Signs Media to host the assistALL mini-app, which provides on-demand sign language interpretation services, within the M-PESA App. The assistALL Mini App will empower Kenyans with hearing impairment, granting them equal access to opportunities that were previously hindered by communication barriers. It will help bridge the gap in sign language interpretation services across various sectors, including healthcare, judicial facilities, government services, finance, and transport, among others. “In a world that is increasingly reliant on digital services, this partnership is a milestone in our mission to make technology more accessible for everyone and contribute to a more inclusive society ~ Peter Ndegwa,

Read More
Kenya Haiti
In Brief
Newsroom

Kenya establishes diplomatic ties with Haiti ahead of police deployment

Kenya has formally established diplomatic relations with Haiti, a country whose gang violence has escalated since the killing of President Jovenel Mossé in 2021, which remains unsolved. Currently, criminals control large areas of the capital and are spreading into the countryside. Kenya has committed to deploy 1,000 police officers to train and assist the Haitian police to restore normalcy in the country. In August, UN Secretary-General António Guterres told the Security Council that the conditions were unsuitable for a UN peacekeeping deployment. To destroy gangs and restore order, Guterres added, “police special forces and military support units” are needed. President Biden commended Ruto for joining

Read More
In Brief
Newsroom

Equity, Mastercard partner to enhance payments

Equity Bank has signed a Customer Business Agreement with Mastercard, aimed at giving customers a broad range of benefits from a wide selection of Mastercard payment solutions ranging from World and World Elite cards, corporate cards and virtual cards. In addition, customers will perform a range of payments including cross-border remittance, e-commerce payments, QR and Tap on phone solutions. Additionally, Equity and Mastercard will co-create payment solutions in tandem with changing customer needs especially in e-commerce, cross-border payments, and segment-based value propositions. Other innovations will include community pass solutions that will enable farmers and traders to access services via different identification methods such as QR,

Read More
In Brief
Newsroom

Co-op feted for listening to small businesses

Co-operative Bank Group has emerged top among African peers in serving small business and has been awarded by the SME Finance Forum the SME Financier Of The Year In Africa – Gold Award at the Global SME Finance Awards 2023. Co-op Managing Director Dr Gideon Muriuki has said they won the award at the Global SME Finance Forum currently underway at the Grand Hyatt Hotel in Mumbai, India, on their responsive service to small businesses. “In collaboration with IFC and other partners, we have taken time to listen, study and build a most competitive value proposition for SMEs intended to support them realise the goals

Read More
Plastics Kenya
In Brief
Newsroom

Apple iPhone 15 lineup comes with faster chips

Apple has officially unveiled its iPhone 15 lineup, ushering in a new era of smartphones that promise improved features across the board. The grand unveiling at Apple’s headquarters in Cupertino, California, marks a critical moment for the tech giant as it seeks to rebound from a recent dip in sales over the past few quarters. While the iPhone 15 series doesn’t bring groundbreaking technological leaps, it introduces a range of enhancements such as the camera system camera system. With enhanced sensors and computational photography advancements, users can expect even better photo and video quality. Additionally, Apple has incorporated faster processors and a new charging system.

Read More
Women in Retail Kenya
In Brief
Newsroom

Majid Al Futtaim unveils ‘Women in Retail Council’

Majid Al Futtaim, owner of retail chain Carrefour in Kenya, has launched ‘Women in Retail Council Kenya’ council seeking to empower its female workforce at Carrefour and champion diversity and inclusion within the organisation. This move signifies Majid Al Futtaim’s efforts towards redefining the workplace for women in the industry; providing a platform enriched with support, resources, and opportunities for personal and career development. The council aims to foster a conducive work environment and create development opportunities for all female colleagues. Participants will be provided with a programme that includes training, mentoring, career guidance, and advice, as well as in-depth retail industry product knowledge.      Christophe

Read More
In Brief
Newsroom

Kenya unveils hybrid maize seeds without pollen

Kenyan scientists have released a new maize production technology that will rely on hybrid genes that do not produce pollen to cut cost of generating seeds. Kenya Agricultural and Livestock Research Organisation in partnership with Corteva Agriscience, the Agricultural Research Council of South Africa, Qualibasic Seed and the International Maize and Wheat Improvement Center have announced the release of three FNP hybrids (CHKM21W002, CHKM21W003 and CHKE21W001) which are adapted to low soil fertility conditions. The technology designed for Africa following trials in Kenya, South Africa and Zimbabwe under the Seed Production Technology for Africa (SPTA) utilizes a dominant non-pollen producing maize gene, Ms44, to create

Read More