Kenya | - Part 45

African Market Watch: Wed, 8th April 2015

BRVM [The Regional Stock Exchange, Cote d’Ivoire]: BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous day for BRVM 10 index, and lower for BRVM Composite. BRVM 10 index rose from 269.02pts to 269.11pts, a gain of 0.03%. BRVM Composite index lost 0.79% to 259.98pts against 262.04pts previously. The equity market capitalization was recorded at XOF 6,415.10 billion. Likewise, the traded value was recorded at XOF 462.256…

Kenya’s tourism industry braces for more misery after Al-Shabaab attack…

Posted on by The Editorial Team

Hoteliers from Kenya’s Indian Ocean coast region and sprawling game park reserves have said tourists have started cancelling trips to the East African nation after gunmen last week killed 148 people at a university campus. A vital part of East Africa’s biggest economy, Kenya’s tourism industry has been in decline since 2013 when al-Shabaab stormed an upscale shopping mall in the capital Nairobi, killing 67 people during a bloody four-day siege. Since then, repeat al-Shabaab…

African Market Watch: Tuesday, 7th April 2015

Posted on by The Editorial Team

BRVM [The Regional Stock Exchange, Cote d’Ivoire]: BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, lower than the previous day. BRVM 10 index fell from 269.02pts to 269.20pts, a lost of 0.07%. BRVM Composite index gained 0.23% to 262.04pts against 262.64pts previously. The equity market capitalization was recorded at XOF 6,466.06 billion. Likewise, the traded value was recorded at XOF 915.240 million and total volumes recorded at 223,641 shares in…

Kenyan shilling steady, seen supported by bond sale

Posted on by The Editorial Team

NAIROBI (Reuters) – Kenya’s shilling was little changed on Wednesday, with dollar demand in the interbank market offset by central bank liquidity mop ups and hard currency inflows from investors preparing to buy a bond. By 0920 GMT, commercial banks quoted the shilling at 92.35/55 to the dollar, barely changed from Monday’s close of 92.35/45. Sheikh Mehran, head of trading at I&M Bank, said there was early dollar demand by banks in the interbank market…

African Market Watch: Thurs, 26th March 2015

Posted on by The Editorial Team

BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous day. BRVM 10 index rose from 270.42pts to 270.97pts, a gain of 0.20%. BRVM Composite index gained 0.28% to 266.05pts against 265.32pts previously. The equity market capitalization was recorded at XOF 6,564.81 billion. Likewise, the traded value was recorded at XOF 395.679 million and total volumes recorded at 56,555 shares in…

Kenya shilling 5-10 pct overvalued, no policy shift needed: IMF

Posted on by The Editorial Team

NAIROBI (Reuters) – Kenya’s shilling is overvalued by about 5 to 10 percent to the dollar but demand for imports and other market pressures are likely to weaken it gradually so no policy change is required, the IMF said. The shilling has lost 1.7 percent since the start of 2015 against the dollar, after a 4.5 percent fall in 2014 that was largely blamed on a downturn in the vital tourism industry after a number…

Kenya’s Housing Finance raises 2.95 bln shilling in rights issue

Posted on by The Editorial Team

NAIROBI (Reuters) – Kenyan mortgage firm Housing Finance said on Wednesday it raised 2.95 billion shillings ($32 million) in a rights issue to help the company increase its lending base. The lender initially planned to raise 3.5 billion shillings, but said in a statement that 84 percent of its shareholders had taken up their rights in an oversubscribed issue that received 9.01 billion shillings in bids. Housing Finance says it opted for a cash call…

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