Author: Khusoko

Two derivative contracts- East African Breweries and Safaricom- were traded at the Nairobi Securities Exchange (NSE) derivatives market on Thursday. “We wish to notify market participants, investors and the public that the NSE NEXT derivatives market has successfully conducted its first futures trades. The initial trades were executed by Standard Investment Bank and Kingdom Securities who cleared through the Co-operative Bank of Kenya,” said the NSE in a statement. The two contracts are worth KSh48,000 and will expire in September 2019. The Safaricom PLC and EABL contracts delivery will be on 19th Sep 2019, strike price 28.90 Value of Ksh28,900…

Increased demand for new orders in the domestic and foreign markets drove up Kenya’s private sector growth to a 10-month high of 54.3 in June compared to 51.3 in May. The monthly Purchasing Managers Index (PMI) by Stanbic Bank further attributed the growth to an easing of cash flow over the past few months, with the private sector lending rising to 3.2%. source: tradingeconomics.com Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration. “Alongside the sharp increase in new orders, firms stated that new government spending plans should help…

Coca-Cola has introduced new Coke flavors to the Kenyan market to offer customers more choice and convenience. This is in line with the company’s growth strategy and operating model to adapt to changing consumer tastes and buying habits. “With innovation at the core of our new business strategy, we will be able to create more opportunities for use of local ingredients and other inputs. We will also create more jobs for farmers, youth and women. We’re listening carefully and working to ensure that consumers are firmly at the centre of our business so we can continue to grow responsibly,” said…

Nigeria has said it will sign the Africa Free Trade Agreement during the 12th African Union summit, according to a statement posted on the Nigeria presidency’s Twitter feed on Tuesday. President Mohammadu Buhari said trade is important for the country and to all nations. “Our position is very simple, we support free trade as long as it is fair and conducted on an equitable basis.” https://twitter.com/NGRPresident/status/1146167502029897728 According to the statements, Nigeria resolved to sign the AfCFTA Agreement after extensive domestic consultations and is focused on taking advantage of ongoing negotiations to secure the necessary safeguards against smuggling, dumping and other…

Kenya Airways (KQ) has signed a deal with US firm GE Aviation, a subsidiary of General Electric, which will provide real-time data on all the carrier’s fleet to maximise efficiency. In a statement, GE Aviation chief digital officer John Mansfield says KQ will be able to monitor fleet performance, implement and track fuel saving initiatives across their network and empower their pilots to help drive efficiency “Our aim is to help Kenya Airways reduce their multimillion-dollar fuel bill and increase their overall efficiency. The fidelity in our flight analytics, together with the team’s experience from analysing more than 175 million…

Commercial Bank of Africa (CBA), has unveiled PassionEnt, a financial advisory platform designed for entrepreneurs through its digital banking service, Loop. “The purpose of these events is to network and provide expert financial advice in partnership with Centonomy. Hearing about the business experiences from the successful Afro Pop band Sauti Sol and their peers who have succeeded or are succeeding, will drive them to continue to pursue their passion. With the knowledge received from PassionEnt, CBA Loop gives them the necessary tools to continue growing their business into prosperous enterprises.” said Eric Muriuki, CBA’s General Manager – New Business Ventures…