South Sudan instability hits CfC Stanbic profit

Centum issues KES6 billion equity-linked notes on stock mart

Centum Investment opened issuing of KES6.00 billion fixed rate and equity linked notes at the Nairobi Securities Exchange, with the promise to further deepen Kenya’s capital markets. The notes offer the public an opportunity to be a part of Centum’s growth strategy for the 2014-2019 period, which focuses on development of investment opportunities in eight key sectors — real estate, energy, financial services, education, health, ICT, agribusiness and fast moving consumer goods.

Lack of auditor blocks cash for Mumias revival

The government is reluctant to release KES1.00 billion to Mumias Sugar Company as the miller is yet to set up an internal audit section as advised. The funds would help Mumias clear debts and focus on sugarcane development and infrastructural improvement at the factory level.

KenolKobil to build KES1.4bn lubricant plant in Mombasa

Kenol Kobil will set up a KES1.40 billion factory in Mombasa for production of its Castrol-branded lubricants as the firm eyes tax savings to boost its bottom line. Financing of the plant would be through a joint venture with oil major BP Southern Africa, which is the owner of Castrol lubes.

BAT wins certificate for energy-efficient operation

Cigarette manufacturer British American Tobacco Kenya (BAT) has become the first company to be feted for complying with energy management regulations set by the government three years ago. BAT received the compliance certificate for its effort in implementing the guidelines provided under the Energy (Energy Management) Regulations 2012 issued by the Energy Regulatory Commission (ERC).

The notice requires industrial facilities with power dependency exceeding 180,000 kilowatt hours (5,400 joules) annually to adopt energy conservation measures. BAT’s strategy on sustainability is to reduce carbon dioxide emission by 50 percent by 2030.

South Sudan instability hits CfC Stanbic profit

CFC Stanbic has reported a 28.00 percent drop in profit after tax for the three months to March this year attributable to a decline in income from its South Sudan branch. The bank said it had made a net
profit of KES1.10 billion in the first quarter of the year compared to KES1.60 billion in a similar period last year. The lender’s income from fees and commissions dropped by KES1.30 billion to KES1.70 billion with income from foreign currency trading taking the biggest hit

Kenyan Stock Market

The NSE 20 and NSE ALSI declined by 2.02 percent and 1.68 percent w/w to close at 4,879.95 and 164.92

Turnover, total volumes traded and total market capitalization stood at KES 3,786.01million, 113.01million and KES 2,306.94bn respectively at the end of the week.

EAC Markets

Uganda: The USE ALSI and USE LSI declined by 0.70 percent and 0.33 percent w/w to close at 1,904.16 and 324.31 respectively

Rwanda: The RSE ALSI and the RSE RSI declined by 0.07 percent and 0.36 percent w/w respectively to close at 136.08 and 224.02 respectively.

Tanzania: The DSE TSI gained 0.09 percent w/w to close at 4,707.70 while DSEI dropped by 0.43 percent w/w to close at 2,729.48.

Global markets

The S&P 500 Index slipped 0.1 percent to 2,129.08.The Dow Jones Industrial Average lost 0.1 percent, to 18,261.95. The Nasdaq Composite Index rose 0.1 percent. U.S. stocks fluctuated, with the Standard & Poor’s 500 Index near a record, after data showed the fastest rise in consumer prices in two years.

The Stoxx Europe 600 Index rose 0.1 percent to 408.41 reversing a decline of as much as 0.4 percent. Vodafone Group Plc contributed the most to the gauge’s advance, set for its biggest three-day jump since September 2013.
The MSCI Asia Pacific Index added 0.7 percent to 153.96 heading for a 0.4 percent weekly advance