Total Kenya Plc (NSE: TOTL) has posted a 16% decline in net profit for the year ended December 31, 2018, from KSh2.7 billion in 2017 to KSh2.3 billion attributed to the effect of volatile international prices of finished products. Further, this affected its Earnings Per Share to Ksh 3.67. This decline in profitability was impacted by a 3.2% dip in gross sales, lower finance income (-25.3% y/y), other income (-12.7% y/y) and increased operating expenses (7.9% y/y). However, Genghis Capital Analysts observed an “Improvement in the gross margin to 7.7% from 7.4% in FY17.” This is attributable to lower participation in…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Africa is at a critical juncture in its development trajectory. Policies adopted now will determine how quickly the continent accelerates growth and creates prosperity for all. In 2015, African countries signed up to two important development agendas: the global 2030 Sustainable Development Goals (SDG), which aims to leave no one behind as countries develop, and the African Union’s Agenda 2063, which sets out a blueprint for the “Africa we want”. A decade away from the SDG endpoint, African countries continue to search for policy mixes to help accelerate the achievement of these targets. However, for many countries, financing remains the…
The International Coffee Organisation (ICO) council call for an immediate action to be taken on the historically low international coffee price. Through a declaration from the World Coffee Producers forum consortium being held in Nairobi on how to improve standards and shorten the distance between farmer, roaster, barista and consumer, “The current social and economic crisis created by extremely low international coffee prices has come to a point where the coffee value chain – as a whole – cannot just continue talking about it, without taking serious and immediate action. Kenya is hosting the 124th Session of the International Coffee…
The Prize aims to spotlight entrepreneurs across Africa from both technology-driven and traditional industries with a special focus on small enterprises, female entrepreneurs, and those doing work to improve local communities The application process for the Africa Netpreneur Prize Initiative, the $10 million contest launched by Alibaba Group Executive Chairman Jack Ma to inspire an entire continent of entrepreneurs, is now officially open. The ANPI is a prize competition will recognize 100 African entrepreneurs over the next 10 years. The Prize aims to support and inspire the next generation of entrepreneurs who are building a more sustainable and inclusive economy…
Little Cab, a ride-hailing app has has announced the introduction of ‘Little Hour’ riders for its customers in a bid to grow their market share. The taxi-hailing service Little powered by Safaricom, on Wednesday said “Our aim at Little is to make every day commute affordable for every Kenyan and we will leave no stone unturned until we achieve it.” The 50% off incentive will mean no price escalation for the customers during peak travel hours – – Happy Hour timing – 5AM-7AM, 12PM-1PM and 10PM-11PM daily. “Now ride a Little at fares lower than usual, in Little Hours.Whether you are…
National Bank of Kenya (NBK) has issued a profit warning, citing ‘increased loan impairment charges beyond initial projections’ and the cost of restructuring. The listed banker now joins Kenya Power, Kenya Re, Unga Group, Crown Paints, UAP, Britam, Sameer Africa, Bamburi Cement, Mumias Sugar and Sanlam in the list of firms that have issued warnings due to a difficulty in the operating environment. “NBK earnings for the period ended December 31 will be at least 25% lower due to… increased loan impairment charges beyond initial projections due to a revision of the valuation and values recoverable from the non-performing loan portfolio,”…