Author: David Indeje

KenolKobil’s KSh35.6 billion share-sale closes Monday opening of a take over offer to all shareholders by Rubis Energie. Rubis Énergie SAS considered that KenolKobil Plc’s shareholders will find the offer price of Ksh 23 per share very attractive as it represents a 53.4% premium to the volume weighted average price at which KenolKobil Plc shares traded over the 30 trading days preceding the issuance of the notice of intention to take-over by Rubis Énergie SAS in October 2018 and is higher than the prices at which KenolKobil Plc shares have traded since then. The offer opened on 20th December 2018…

Kenya house prices rose marginally by 1.49% in the Fourth Quarter of 2018, reversing the downward trend that prevailed in the preceding three quarters of the year but the slow pace of price growth will continue to prevail. According to the Kenya Bankers Association House Price Index (KBA- HPI), “House prices rose by 1.49% in quarter 4 of 2018 representing a 0.14% quarter-on-quarter rise after it’s growth of 1.35% in the previous quarter.” The modest rise, though a respite of the downward trend in the first half of the year, is a reflection of the general house-price stability and is attributed to the…

Safaricom has appointed Rose Ogega to its Board, following Board of Directors’ meeting on 12 February 2019. Ogega will serve as an independent non-executive director effective 12 February 2019. Nicholas Ng’ang’a, Safaricom Chairman, said “Ms. Ogega brings a wealth of experience spanning over 25 years advising and managing both large, complex and emerging start-up ventures. Her previous boardroom experience and versatility will certainly add value to Safaricom Board, helping take the organisation to the next level of success.” Ogega is currently the Managing Director of Bloom Consultancy, an executive coaching organisation that focuses on leadership development through mentoring and coaching.…

Kenya’s public debt has increased by KSh233.5 billion between July and December 2018, to KSh5.273 trillion compared to KSh5.039 trillion six months earlier. “Kenya’s public and publicly guaranteed debt was KSh 5,272.50 billion (tentatively 56.6 percent of GDP) as at end December 2018. This comprised KSh 2,548.8 billion in domestic debt and KSh 2,723.7 billion in external debt,” said the Central Bank of Kenya Weekly Bulletin dated February 8. RELATED: Why Analysts are Concerned with Kenya’ Rising Debt Why Kenya is a Country of Concern for Investors and Markets – Analysts Razia Khan, Chief Economist, Africa and Middle East East at…

Kenya’s earnings from horticulture exports in 2018 rose to KSh153.68 billion representing a 33% increase compared to 2017’s Ksh 115 earnings according to data by the Kenya Flower Council (KFC), Fresh Produce Exporters Association of Kenya (FPEAK), and Fresh Produce Consortium of Kenya. According to the data, flower exports contributed KSh113.16 billion up from KSh82.24 billion earned in 2017, representing 37.8%growth while fruits and vegetables earned KSh12.83 billion and KSh27.68 billion in 2018, up from KSh9.0 billion and KSh24.06 billion earned in 2017, respectively. The cut-flower export still remains the largest earner, contributing 74% of the total fresh produce annual…

Bharti Airtel Ltd.’s  Kenya unit (Airtel Kenya) and Telkom Kenya Limited (Telkom Kenya) have agreed to merge combining their respective mobile, enterprise and carrier services businesses in Kenya to operate as Airtel-Telkom. If approved this will create the second-largest telecommunications operator in East African after Safaricom Plc. The merged company will be chaired by Telkom Kenya Limited CEO, Mr. Mugo Kibati while Airtel Networks Kenya Chief Executive, Mr. Prasanta Sarma, will be appointed Chief Executive Officer. The finalisation and closure of the transaction is subject to approval by the relevant authorities. As per the agreement, both the partners will combine…