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<p>Mooody&#8217;s Investor Service says the prolonged political uncertainty in Kenya will hinder the development of policies to address the country&#8217;s main credit challenges, in particular the large fiscal deficit of 10 per cent of GDP.</p>


Political uncertainty dampen Kenya’s economic outlook

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<p>Standard Chartered Bank Kenya has announced a 33 per cent drop in half-year profit before tax. Still on company results, fashion retailer Deacons East Africa has reported a 242.8 per cent increase in net loss over the same period.</p>


Stanchart Kenya reports drop in half-year profit

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<p>The number of automated teller machines decreased by 62 or 2.3 per cent to 2.656 by last December from 2.718 a year earlier; Central Bank of Kenya says the drop was driven by adoption of cost effective channels.</p>


Why has the number of ATMs in Kenya decreased?

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<p>I&amp;M Holdings has reported a net profit of Ksh3.4 billion for the half year period ending June, a 17.9 per cent drop compared to the same period in 2016.</p>


I&M Holdings’ half-year net profit down 17%

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<p>Listed lender NIC Group has posted a net profit of just over Ksh2 billion in the six months ending June this year, indicating a 12 per cent drop compared to the same period last year.</p>


NIC Group first-half net profit falls 12%

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<p>The Nairobi Securities Exchange has reported a 5 per cent drop in net profit to Ksh77.77 million in the half-year period ending June this year.</p>


Nairobi Securities Exchange H1 net profit dips 5%

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<p>Uganda Revenue Authority has taken control of Nakumatt’s main warehouse in Kampala in a bid to recover taxes amounting to 86 thousand dollars.</p>


Uganda taxman moves to recover $86k from Nakumatt

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<p>Kenya’s stock market billionaires are smiling all the way to the bank as the Nairobi bourse rebounds to a 16-month high. Elsewhere, Kenyan shilling hit a two-month high of 103.25/45 to the US dollar on Friday, as banks reduce dollar positions.</p>


Stock market billionaires reap from Nairobi bourse rally

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<p>Co-operative Bank cut its cost to income ratio to 47.9 per cent in the half year period ending June 2017, in spite of a 10.8 per cent drop in net profit.</p>


Co-operative Bank H1 net profit down 10.8%

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<p>The Kenya shilling has been showing signs of stability, gaining to a six-week high of 103.76 units against the dollar on Tuesday, while it hit a low of 103.79 on Wednesday.</p>


Kenya shilling firms, aided by dollars inflows from aid organisations

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<p>A rise in provision for bad loans have seen Stanbic Bank Kenya post reduced net earnings for the half-year period ending June. Still in the banking sector, Barclays Bank of Kenya has reported a 13 per cent drop in half-year net profit.</p>


Stanbic Bank Kenya’s net profit drops on bad loans load

<p data-reactid="40">Kenya&#8217;s main stock index rose 2.51 percent on Monday to a 14-month high, building on gains last week as investors welcomed the re-election of President Uhuru Kenyatta.</p>
<p data-reactid="41">The NSE-20 index has risen nearly 7 percent since the election last Tuesday. Kenyatta was declared winner by a clear margin on Friday but his main challenger, Raila Odinga, has not yet conceded.</p>
<p data-reactid="42">At least 24 people have been killed in pockets of protests against the outcome of the vote, mainly in two Nairobi slums. But businesses re-opened on Monday, shrugging off a boycott call by Odinga.</p>
<p data-reactid="43">A dispute after an election in 2007, which Odinga also lost, sparked widescale protests and violence that killed 1,200 people and hammered the economy.</p>
<p data-reactid="44">Aly Khan Satchu, an independent trader and analyst in Nairobi, said the market worried that Odinga, who identifies himself as a social democrat, would have changed the economy&#8217;s course.</p>
<p data-reactid="45">&#8220;The markets were concerned around a leftist &#8216;Magufuli&#8217;-like tilt which would have eroded Kenya&#8217;s hard won free market credentials. So part of this rally is a relief rally,&#8221; he told Reuters, referring to President John Magufuli of neighbouring Tanzania.</p>
<p data-reactid="46">Kenyatta, the 55-year-old son of the country&#8217;s founding president, engaged regularly with the business community in his first term to try to boost economic growth and job creation. His family also owns a range of businesses.</p>
<p data-reactid="47">The Kenyan shilling firmed on Monday to touch an intra-day high of 103.65 per dollar, from 104 before the election, while Kenyan dollar bonds have also rallied after the election.</p>
<p data-reactid="48">Monday&#8217;s gains by the blue chip index were led by electricity distributor Kenya Power, which was up 9 percent and lender KCB Group, which was up 8 percent.</p>
<p data-reactid="49">Ken Minjire, the head of securities at Genghis Capital, said investors had been encouraged by endorsements of the election by various foreign observer groups. The main local observer group also said the official result was in line with their tally.</p>
<p data-reactid="51">&#8220;The international investors are more or less confident,&#8221; he said.</p>
<p data-reactid="52">Kenyan shares had slightly lagged this year&#8217;s gains in other African bourses like Nigeria as investors waited to see how the election would go, market participants said.</p>
<p>&#8220;This means there is a tonne of liquidity that is set to enter the market and underpin valuations,&#8221; Satchu said.</p>
<div class="Attribution_attribution_o4ojT" data-reactid="53">
<p class="Attribution_content_27_rw" data-reactid="54">Editing by David Lewis and Toby Chopra</p>
</div>


Kenya’s stock market hits 14-month high after Kenyatta victory

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<p>Trading activity at the Nairobi Securities Exchange finally returned to pre-election levels of more than Ksh1 billion on Friday after several days of below par participation by investors.</p>


Nairobi Securities Exchange trading back to pre-polls level

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<p>Two-thirds of companies listed on the Nairobi Securities Exchange reported losses or reduced earnings in the last financial year, according to a recent report by Nation Newsplex.</p>


Two-thirds of NSE listed firms report losses

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<p>Private sector activity in Kenya continues to deteriorate, with July&#8217;s Purchasing Managers Index by Stanbic Bank showing slight improvement to 48.1.</p>


11 Kenyan banks vote on Kenya Airways’ debt-equity swap proposal

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<p>KCB Group has announced a net profit of Ksh10.26 billion for the half-year period ending June, reflecting a marginal drop of 0.2 per cent compared to the same period last year.</p>


KCB Group announces half-year profit of Ksh10.26bn

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<p>Equities turnover at the Nairobi Securities Exchange rose by 21 per cent in the second quarter of this year according to the Capital Markets Authority. Furthermore, bond turnover in the secondary market increased by 29 per cent.</p>


Nairobi Securities Exchange

Political uncertainty dampen Kenya’s economic outlook

Stanchart Kenya reports drop in half-year profit

Why has the number of ATMs in Kenya decreased?

I&M Holdings’ half-year net profit down 17%

NIC Group first-half net profit falls 12%

Nairobi Securities Exchange H1 net profit dips 5%

Uganda taxman moves to recover $86k from Nakumatt

Stock market billionaires reap from Nairobi bourse rally

Co-operative Bank H1 net profit down 10.8%

Kenya shilling firms, aided by dollars inflows from aid organisations

Stanbic Bank Kenya’s net profit drops on bad loans load

Kenya’s stock market hits 14-month high after Kenyatta victory

Nairobi Securities Exchange trading back to pre-polls level

Two-thirds of NSE listed firms report losses

11 Kenyan banks vote on Kenya Airways’ debt-equity swap proposal

KCB Group announces half-year profit of Ksh10.26bn

Here is how the Kenyan elections will affect the market

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Advertise With Us

Nairobi Securities Exchange

Political uncertainty dampen Kenya’s economic outlook

Stanchart Kenya reports drop in half-year profit

Why has the number of ATMs in Kenya decreased?

I&M Holdings’ half-year net profit down 17%

NIC Group first-half net profit falls 12%

Nairobi Securities Exchange H1 net profit dips 5%

Uganda taxman moves to recover $86k from Nakumatt

Stock market billionaires reap from Nairobi bourse rally

Co-operative Bank H1 net profit down 10.8%

Kenya shilling firms, aided by dollars inflows from aid organisations

Stanbic Bank Kenya’s net profit drops on bad loans load

Kenya’s stock market hits 14-month high after Kenyatta victory

Nairobi Securities Exchange trading back to pre-polls level

Two-thirds of NSE listed firms report losses

11 Kenyan banks vote on Kenya Airways’ debt-equity swap proposal

KCB Group announces half-year profit of Ksh10.26bn

Here is how the Kenyan elections will affect the market

News Tips

Advertise With Us

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