Author: Khusoko

The key Kenyan equity market indices closed higher despite NSE (Nairobi Securities Exchange) 20 share index NSE 20 likely attributable to a dip in BAT’s price (-5.2% w/w). During the week, NASI and NSE 25 gained by 1.2% and 1.0%, respectively, while NSE 20 declined by 0.3%, taking their YTD performance to gains of 13.9%, 1.9% and 12.0% for NASI, NSE 20 and NSE 25, respectively. EABL was the top five traded highest gainer (+2.9%), owing to buying interest from the foreign desk while Kenya Re-Insurance recorded the highest loss in its share price (-13.7%), among the top movers in…

Peter Tabichi, a maths and physics teacher at Keriko Secondary School, Nakuru County, Kenya, has won this year’s $1m Global Teacher Prize in Dubai. According to Varkey Foundation, Global Teacher Prize awards ‘real superheroes’ who are real champions for change, inspiring millions of learners across the globe. In the recognition, Mr. Tabichi is recognised for his contributions as a science teacher who gives away 80 percent of his monthly income to help the poor. “His dedication, hard work and passionate belief in his student’s talent has led his poorly-resourced school in remote rural Kenya to emerge victorious after taking on…

Kenya’s official foreign exchange reserves fell slightly in the week as the shilling witnessed turbulence due to increased dollar demand from oil and merchandise importers. Official data from Central Bank of Kenya (CBK) shows that the reserves now stand at $ 8,321 billion, equivalent to 5.45 months of import cover in the week ending 21-March. “The CBK usable foreign exchange reserves remained adequate,” said the CBK adding that, “This meets the statutory requirement of maintaining at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover.” In the week ending March 14,…

Cytonn Investments and  Commercial Bank of Africa Limited economic analysts expect the Monetary Policy Committee (MPC) to keep interest rates on hold. The MPC meets on Wednesday, 27th March 2019, to review the prevailing macro-economic conditions and make a decision on the direction of the Central Bank Rate (CBR). According to analysts, the stability in markets over the last couple of months reveals an economy at its ‘sweetest spot’. Inflation and the exchange rate are stable and forecasts reveal a fair level of confidence in the economy. “While the impact of this stability on businesses has been debatable, the enviable…

Kenya’s Fatuma ‘Iron Fist’ Zarika won on a unanimous points decision against hard punching Zambian Catherine Phiri to retain the World Boxing Council (WBC) Super Bantamweight title for the third successive time in an epic bout on Saturday night at Nairobi’s Kenyatta International Convention Center (KICC). World Boxing Council (WBC) Super Bantamweight Champion Fatuma Zarika retained her title after defeating Zambia’s Catherine Phiri on a unanimous points decision. In a ten round bout, played Saturday night in Nairobi, Zarika, who has retained the title now for the third successive time, thanked her fans and said it was over for any…

Bamburi Cement Ltd has appointed Vasileois Karalis as a member of the Board of Directors. He is also the firm’s Head of Finance for East and South Africa & Indian Ocean area. His appointment follows the resignation of Olivier Gultton. The Lafarge-owned manufacturer said Vasileois’ appointment to the board reflects his immense experience at Lafarge having held various roles within the finance, control, investments and mergers and acquisitions departments. LafargeHolcim is the global leader in building materials and solutions. We are active in four business segments: Cement, Aggregates, Ready-Mix Concrete and Solutions & Products.