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Home Afrika Opens Sale of Sh900m Bond
by Old Mutual Securities

Home Afrika opens sale of Sh900m bond. The company is offering an interest rate of 13.5 per cent for the five-year bond, in an offer which is at a premium of up to 2.63 per cent on government paper.

 
Our view: With the offer coming on at above 200bps premium, we expect it to attract a lot of interest amid signs of dwindling market liquidity. The firm is keen to use the proceeds to fund its real estate projects and these may certainly lock its cash flows in the near future. The company plans to use 83.3% of the proceeds on its flagship project Migaa in Kiambu with the balance going to Lakeview Heights project in Kisumu and Llango project in Kwale. 
 
Investment group Centum has been temporarily stopped from signing a Sh174 billion coal power generation contract until a petition filed by a rival bidder is determined.
 
Our view: The appeal derails the actualization of Centum-Gulf Energy consortium delivery plans on this power project which was expected to be completed in 30 mont

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Daily Market Report 28th November 2014
by Soko Directory Team

Kenyan Stock Market:

The NSE 20 Index edged down by 21.75 points to close the day at 5,152.26. The NASI shoved up by 0.75 points to close the day at 163.77. Longhorn Kenya was the highest market gainer appreciating by 9.00 percent to close at KES 27.25 following the register closure for the bonus issue happening today. Eaagads was the market’s top loser declining by 4.89 percent to close the day at KES 43.75.
 
The volume of shares traded closed at 30.63mn representing a 8.50 gain from yesterday’s close. Total turnover edged up by 57.27 percent to close at KES 1,258.15mn. The highest market mover was KCB Bank with a turnover of KES 354.92mn representing 28.21 percent of total market turnover.
 
Foreign buys went up to 79.90 percent of market turnover from yesterday’s close of 74.54 percent as foreign sales went down to 32.40 percent of total turnover from a close of 47.85 percent yesterday
 
Upcoming Events
 
  • CBK to auction 91-day Treasury bill worth KES 3.0bn on 04th December

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Athi River Mining Recognizes Women in Construction Sector
by Soko Directory Team

One of the most challenging things is running a business. From a small food stand, to a kiosk to a fully fledged company the challenges are myriad and complex. 
 
 
Entrepreneurship is not for the faint hearted and Athi River Mining has recognised this noble note and decided to have an event to recognise and honour those who have worked with them and excelled in their business.
 
 
ARM has come up with a concept dubbed Woman Contractor of the Year Award. This is espoused to honour women who have excelled in entrepreneurship in the construction sector. This is a noble move that aimed at empowering women to have their influence in the construction sector. 
 
 
The Woman Contractor of the Year 2014 awards will take place tomorrow November 28, 2014 at the Safari Park Hotel. The awards have been out together by the National Construction Authority (NCA) in order to celebrate and recognize exceptional women in the construction industry. 
 
As the main partner sponsor of the event,

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JUMIA Kenya Black Friday 2014: What to Expect
by Soko Directory Team

The countdown to the first black Friday in Kenya has been on this whole week with a teasing selection of incredible deals and massive price cuts in the JUMIA Early bird sales of over 2000 items, but that has just been a tip of the iceberg. The ultimate “BLACK FRIDAY” sales day dawns tomorrow the 28th Nov 2014. 

 

 
We give you a sneak peek into the deals to expect and the hours they will be live on Jumia:
 
Jumia Black Friday Deals and Hours
 
The most rumoured of the TV deals is the 32” Skyworth TV that will be selling at ksh. 9,999, the Toshiba tablet 7” at ksh. 5,000, Samsung Galaxy core 2 selling for ksh.9, 999 down from ksh. 25,000.There’s also the ASUS X551C at ksh. 19,999 down from ksh. 30,000. 
 
Anyone who shops between 8AM and 1PM will enjoy a 50% discount on over 1,000 fashion products, 35% discounts on those who shop between 1PM – 6PM and 20% for those who shop between Friday 6PM and Monday 1st Dec 2014.
 
Timely shouts of the deals will also be available on Fa

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Safaricom Targets Mobile App Innovators With USD 1M Angel Fund.
by Old Mutual Securities

Safaricom targets mobile app innovators with USD 1M angel fund.

 
Our view: Kenya ICT industry is fast maturing into a globally-recognized hub for technology and innovation. Young tech-savvy Kenyans have led the way for this evolution; taking risks, launching new products for the local market. Safaricom’s partnership with PE firm TBL, will offer young innovators start-up capital to actualize their ideas.
 
Eligible start-ups stand to receive amounts between KES 6.75M (USD75, 000) and KES 22.5M ($250,000). We believe this initiative will catalyze further Kenya’s ICT industry given that most PE funds tend to concentrate more on already established companies as opposed to funding start-up entities.
 
 
Local lender Commercial Bank of Africa targets to raise KES10B in corporate bond over a seven month period with first trench to raise KES 3B planned for in two weeks’ time.
 
Our view: The planned capital raising is meant to help the group comply with the new industry capital adequ

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