Bamburi Reduced Workforce by 71 Employees in 2015

Equities

Activity at the bourse opened the week lower than Friday’s closing as shown by the market indicators.  The NSE 20 Share Index was down 26.87 points to stand at 3661.58. All Share Index (NASI) shed 0.82 points to stand at 140.19.

The NSE 25 Share Index was down 20.57 points to settle at 3964.31. Market capitalization decreased marginally to KES 2015.825 billion from KES 2027.757 billion previously while the equity turnover remained flat at KES 55 billion on account of a meagre change in volumes traded. 

Listed cement-maker Bamburi reduced its workforce by 71 employees last year following layoffs and voluntary early retirements as many firms right-sized to further tighten the job market.

Bamburi, which performed well in the year, partly buoyed by orders from the standard gauge railway (SGR), paid out Sh192 million to send home the affected employees, according to its recently published annual report.

Currencies

The Kenyan shilling was stable on Monday, with dollar demand from importers and manufacturers subdued. Commercial banks quoted the shilling at 101.20/40 to US dollar compared with 101.25/35 at Friday’s close